| Dec'17 | Dec'16 | Dec'15 | ||||
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income | ||||||
82,200 | 56,112 | 99,499 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation | ||||||
48,205 | 33,886 | 31,368 | ||||
Amortization | ||||||
1,389 | 1,314 | 1,412 | ||||
Gain on disposal of fixed assets | ||||||
988 | 1,400 | 268 | ||||
Allowance for doubtful accounts | ||||||
378 | 0 | 0 | ||||
Share-based compensation expense | ||||||
23,723 | 12,861 | 10,379 | ||||
Research and development expenses undertaken by Sohu | ||||||
707 | 788 | 1,105 | ||||
Impairment of long-term investment | ||||||
230 | 0 | 0 | ||||
Change in fair value of financial instruments | ||||||
927 | 823 | 0 | ||||
Deferred tax benefit | ||||||
4,117 | 3,091 | 7,779 | ||||
Changes in assets and liabilities | ||||||
Accounts receivable | ||||||
26,955 | 13,796 | 14,145 | ||||
Prepaid and other current assets | ||||||
8,679 | -155 | -1,881 | ||||
Due from related parties | ||||||
-26,807 | -113 | -4,762 | ||||
Other assets | ||||||
816 | 2,542 | 2,759 | ||||
Accounts payable | ||||||
22,284 | 20,750 | 12,627 | ||||
Accrued and other short-term liabilities | ||||||
29,079 | 44,198 | 29,767 | ||||
Receipts in advance | ||||||
2,936 | -2,850 | 9,892 | ||||
Accrued salary and benefits | ||||||
5,561 | 6,556 | 4,636 | ||||
Taxes payable | ||||||
42,808 | -9,185 | 20,307 | ||||
Due to related parties | ||||||
-61,637 | 6,618 | 3,307 | ||||
Net cash provided by operating activities | ||||||
182,188 | 149,664 | 205,991 | ||||
Cash flows from investing activities | ||||||
Cash received from disposal of fixed assets | ||||||
1,739 | 1,405 | 276 | ||||
Purchase of fixed assets | ||||||
64,025 | 86,372 | 61,266 | ||||
Purchase of intangible assets | ||||||
130 | 523 | 272 | ||||
Purchase of long-term investments | ||||||
7,008 | 8,162 | 14,589 | ||||
Cash paid for a business combination, net of cash acquired | ||||||
0 | 0 | 30 | ||||
Purchase of financial instruments | ||||||
345,508 | 52,412 | 0 | ||||
Proceeds from financial instruments | ||||||
7,718 | 51,260 | 0 | ||||
Net cash used in investing activities | ||||||
-407,214 | -94,804 | -75,881 | ||||
Cash flows from financing activities | ||||||
Proceeds from exercise of options under Sogou 2010 Share Incentive Plan | ||||||
1 | 4 | 0 | ||||
Repurchase of Pre-IPO Series A Preferred Shares | ||||||
0 | 0 | 99,822 | ||||
Repurchase of Pre-IPO Class A Ordinary Shares | ||||||
3,190 | 0 | 0 | ||||
Proceeds from issuance of Class A Ordinary Shares in IPO, net of issuance costs of US$36,239 | ||||||
622,131 | 0 | 0 | ||||
Net cash (used in)/provided by financing activities | ||||||
618,942 | 4 | -99,822 | ||||
Effect of exchange rate changes on cash and cash equivalents | ||||||
14,213 | -13,270 | -10,077 | ||||
Net increase in cash and cash equivalents | ||||||
408,129 | 41,594 | 20,211 | ||||
Supplemental cash flow disclosure: | ||||||
Income tax paid | ||||||
6,171 | 14,078 | 0 | ||||
Supplemental schedule of non-cash investing activity: | ||||||
Fixed assets in accrued liabilities and accounts payable | ||||||
658 | 1,079 | 199 | ||||
Supplemental schedule of non-cash financing activity: | ||||||
Contribution from Sohu resulting from waived research and development expense paid by Sohu on behalf of the Sogou Group | ||||||
707 | 788 | 1,105 | ||||