| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities: | ||||||||||
Net income | ||||||||||
85,762 | 104,690 | 116,481 | 124,234 | 103,475 | 82,000 | 67,296 | 51,853 | 44,907 | 28,061 | 16,562 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
7,987 | 8,613 | 9,060 | 9,090 | 7,764 | 6,377 | 5,825 | 5,638 | 7,284 | 9,161 | 11,418 |
Recovery of previously impaired investment | ||||||||||
- | - | - | - | - | - | - | - | 2,519 | - | - |
Equity-based compensation | ||||||||||
31,841 | 19,864 | 16,229 | 15,934 | 14,528 | 9,671 | 7,325 | 8,338 | 10,372 | 10,420 | 8,622 |
Loss on disposal of equipment | ||||||||||
429 | -59 | -152 | -30 | 30 | 13 | -31 | 46 | -25 | 4 | -130 |
Tax benefit of stock awards exercised/vested | ||||||||||
- | - | - | 5,209 | 9,170 | 8,640 | 6,980 | 9,901 | 7,481 | 2,207 | -1,023 |
Excess tax benefits from equity-based compensation | ||||||||||
- | - | - | 5,214 | 9,147 | 8,562 | 6,637 | 7,531 | 2,474 | 475 | 64 |
Deferred income taxes | ||||||||||
-1,406 | -4,265 | 1,574 | 1,797 | 1,532 | -1,705 | 3,165 | 5,388 | 2,409 | -463 | 2,077 |
Unrealized foreign currency (gain) loss | ||||||||||
708 | -298 | -196 | 393 | -49 | 624 | -205 | -427 | 189 | -210 | -1,022 |
Changes in operating assets and liabilities: | ||||||||||
Accounts receivable, net | ||||||||||
1,065 | 9,341 | -10,139 | 4,358 | 12,223 | 16,758 | 9,174 | 5,446 | 8,994 | 9,454 | -26,658 |
Other assets | ||||||||||
8,924 | 4,357 | -661 | -299 | 1,427 | 5,198 | -697 | -281 | 1,332 | 2,661 | -3,058 |
Accounts payable, accrued and other liabilities | ||||||||||
20,812 | 18,603 | -5,354 | -9,261 | -1,592 | 13,519 | 3,164 | -162 | -3,537 | 8,271 | -10,453 |
Income taxes | ||||||||||
1,180 | -4,390 | 1,876 | 6,129 | -2,271 | 338 | 4,500 | 8,831 | -2,514 | -2,934 | -3,502 |
Deferred revenue | ||||||||||
11,858 | 7,575 | 13,052 | -4,150 | 10,325 | 6,477 | 6,010 | -2,201 | 4,905 | 7,633 | 3,818 |
Net cash provided by operating activities | ||||||||||
146,908 | 137,349 | 164,066 | 139,346 | 120,153 | 94,162 | 89,387 | 75,271 | 55,824 | 49,972 | 58,323 |
Investing activities: | ||||||||||
Purchase of property and equipment | ||||||||||
15,193 | 7,306 | 6,199 | 6,843 | 11,492 | 9,415 | 4,740 | 7,873 | 5,074 | 5,871 | 2,378 |
Purchases of short-term investments | ||||||||||
- | 14,584 | 12,873 | - | 15,385 | 14,644 | 14,751 | 7,582 | 7,296 | 8,625 | - |
Maturities of short-term investments | ||||||||||
1,439 | 12,052 | 13,302 | 10,201 | 13,334 | 14,165 | 11,686 | 7,446 | 4,438 | 4,414 | - |
Payment in connection with acquisition | ||||||||||
- | - | - | - | - | 2,773 | - | - | - | - | - |
Sales of long-term investments | ||||||||||
- | - | - | - | - | - | - | 1,000 | 3,323 | 1,200 | - |
Sales/maturities of available-for-sale investments | ||||||||||
- | - | - | - | - | - | - | - | - | - | 84 |
Net cash (used in) provided by investing activities | ||||||||||
-13,754 | -9,838 | -5,770 | 3,358 | -13,543 | -12,667 | -7,805 | -7,009 | -4,609 | -8,882 | -2,294 |
Financing activities: | ||||||||||
Purchase of common stock | ||||||||||
121,487 | 149,322 | 131,707 | 167,933 | 112,138 | 99,204 | 64,199 | 103,155 | 133,144 | 77,704 | 23,435 |
Proceeds from issuance of common stock from options exercised | ||||||||||
- | - | - | 18 | 717 | 1,571 | 5,754 | 32,082 | 52,721 | 36,368 | 1,662 |
Excess tax benefits from equity-based compensation | ||||||||||
- | - | - | 5,214 | 9,147 | 8,562 | 6,637 | 7,531 | 2,474 | 475 | 64 |
Net cash used in financing activities | ||||||||||
-121,487 | -149,322 | -131,707 | -162,701 | -102,274 | -89,071 | -51,808 | -63,542 | -77,949 | -40,861 | -21,709 |
Foreign currency impact on cash | ||||||||||
-115 | -4,585 | 3,318 | -2,804 | -1,628 | -1,091 | -2,136 | -163 | -1,830 | 298 | 158 |
Net change in cash and cash equivalents | ||||||||||
11,552 | -26,396 | 29,907 | -22,801 | 2,708 | -8,667 | 27,638 | 4,557 | -28,564 | 527 | 34,478 |
Supplemental disclosures of cash flow information: | ||||||||||
Cash paid for taxes | ||||||||||
30,492 | 40,215 | 64,910 | 58,684 | 50,902 | 38,674 | 21,191 | 6,277 | 11,113 | 14,340 | 6,218 |