| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income | ||||||
34,343 | 30,736 | 12,662 | 19,478 | 16,348 | 14,136 | 12,733 |
Adjustments: | ||||||
Depreciation and impairment of property and equipment | ||||||
10,856 | 8,164 | 6,103 | 5,267 | 4,132 | 3,523 | 2,781 |
Amortization and impairment of intangible assets | ||||||
925 | 871 | 812 | 877 | 931 | 1,456 | 1,158 |
Stock-based compensation expense | ||||||
10,794 | 9,353 | 7,679 | 6,700 | 5,203 | 4,279 | 3,343 |
Excess tax benefits from stock-based award activities | ||||||
- | - | - | - | - | - | 0 |
Deferred income taxes | ||||||
173 | 778 | 258 | -38 | -179 | -104 | -437 |
(Gain) loss on debt and equity securities, net | ||||||
2,798 | 6,650 | -37 | -73 | - | - | - |
Gain on divestiture of business | ||||||
- | - | - | - | - | 740 | 700 |
Loss on marketable and non-marketable investments, net | ||||||
- | - | - | - | -334 | 390 | 166 |
Other | ||||||
592 | 189 | -294 | -376 | -212 | -192 | -272 |
Changes in assets and liabilities, net of effects of acquisitions: | ||||||
Accounts receivable | ||||||
4,340 | 2,169 | 3,768 | 2,578 | 2,094 | 1,641 | 1,307 |
Income taxes, net | ||||||
-3,128 | -2,251 | 8,211 | 3,125 | -179 | 591 | 588 |
Other assets | ||||||
621 | 1,207 | 2,164 | -312 | 318 | -459 | 930 |
Accounts payable | ||||||
428 | 1,067 | 731 | 110 | 203 | 436 | 605 |
Accrued expenses and other liabilities | ||||||
7,170 | 8,614 | 4,891 | 1,515 | 1,597 | 757 | 713 |
Accrued revenue share | ||||||
1,273 | 483 | 955 | 593 | 339 | 245 | 254 |
Deferred revenue | ||||||
37 | 371 | 390 | 223 | 43 | -175 | 233 |
Net cash provided by operating activities | ||||||
54,520 | 47,971 | 37,091 | 36,036 | 26,572 | 23,024 | 19,140 |
Investing activities | ||||||
Purchases of property and equipment | ||||||
23,548 | 25,139 | 13,184 | 10,212 | 9,950 | 11,014 | 7,358 |
Proceeds from disposals of property and equipment | ||||||
- | - | - | 240 | 35 | 55 | - |
Purchases of marketable securities | ||||||
100,315 | 50,158 | 92,195 | 84,509 | 74,368 | 56,310 | 45,444 |
Maturities and sales of marketable securities | ||||||
97,825 | 48,507 | 73,959 | 66,895 | 62,905 | 51,315 | 38,314 |
Purchases of non-marketable investments | ||||||
1,932 | 2,073 | 1,745 | 1,109 | 2,326 | 1,440 | 569 |
Maturities and sales of non-marketable investments | ||||||
405 | 1,752 | 533 | 494 | 154 | 213 | - |
Cash collateral related to securities lending | ||||||
- | - | - | 2,428 | 350 | -1,403 | 299 |
Investments in reverse repurchase agreements | ||||||
- | - | - | 450 | 425 | -775 | 600 |
Proceeds from divestiture of business | ||||||
- | - | - | - | - | 386 | 2,525 |
Acquisitions, net of cash acquired, and purchases of intangible assets | ||||||
2,515 | 1,491 | 287 | 986 | 236 | 4,888 | 1,448 |
Proceeds from collection of notes receivable | ||||||
0 | 0 | 1,419 | 0 | 0 | - | - |
Other investing activities | ||||||
-589 | -98 | -99 | - | - | - | - |
Net cash used in investing activities | ||||||
-29,491 | -28,504 | -31,401 | -31,165 | -23,711 | -21,055 | -13,679 |
Financing activities | ||||||
Net payments related to stock-based award activities | ||||||
4,765 | 4,993 | 4,166 | 3,304 | 2,375 | 2,069 | 781 |
Excess tax benefits from stock-based award activities | ||||||
- | - | - | - | - | - | 0 |
Adjustment Payment to Class C capital stockholders | ||||||
- | - | - | - | 47 | 0 | 0 |
Repurchases of capital stock | ||||||
18,396 | 9,075 | 4,846 | 3,693 | 1,780 | 0 | 0 |
Proceeds from issuance of debt, net of costs | ||||||
317 | 6,766 | 4,291 | 8,729 | 13,705 | 11,625 | 10,768 |
Repayments of debt | ||||||
585 | 6,827 | 4,377 | 10,064 | 13,728 | 11,643 | 11,325 |
Proceeds from sale of interest in consolidated entities | ||||||
220 | 950 | 800 | 0 | 0 | - | - |
Net cash used in financing activities | ||||||
-23,209 | -13,179 | -8,298 | -8,332 | -4,225 | -2,087 | -1,338 |
Effect of exchange rate changes on cash and cash equivalents | ||||||
-23 | -302 | 405 | -170 | -434 | -433 | -3 |
Net increase in cash and cash equivalents | ||||||
1,797 | 5,986 | -2,203 | -3,631 | -1,798 | -551 | 4,120 |
Supplemental disclosures of cash flow information | ||||||
Cash paid for taxes, net of refunds | ||||||
8,203 | 5,671 | 6,191 | 1,643 | 3,651 | 3,138 | 1,932 |
Cash paid for interest, net of amounts capitalized | ||||||
- | - | - | 84 | 96 | 86 | 72 |