| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
146,527 | 147,462 | 169,571 | 113,701 | 64,869 | 58,940 | 39,101 | 32,994 | 27,557 | 25,054 | 27,010 |
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
76,672 | 61,759 | 53,395 | 49,773 | 19,574 | 14,605 | 13,786 | 12,711 | 10,676 | 10,788 | 9,497 |
Share-based compensation expense | ||||||||||
59,967 | 52,740 | 37,348 | 29,747 | 20,182 | 14,819 | 11,653 | 7,411 | 6,253 | 6,132 | 5,045 |
Provision for losses and sales adjustments - accounts receivable | ||||||||||
1,636 | -569 | 2,031 | 4,484 | 1,756 | 1,897 | 729 | 961 | 805 | 1,161 | 1,538 |
Operating lease right-of-use assets expense | ||||||||||
5,397 | - | - | - | - | - | - | - | - | - | - |
Excess tax benefit from exercises of share-based arrangements | ||||||||||
- | - | - | - | - | - | 28,207 | 8,764 | 3,590 | 2,000 | 1,125 |
Deferred income tax benefit | ||||||||||
-6,088 | -5,069 | -33,664 | -26,432 | -7,956 | -3,804 | -1,497 | -215 | -2,916 | -959 | -1,730 |
Changes in operating assets and liabilities, exclusive of effects of acquired companies: | ||||||||||
Accounts receivable | ||||||||||
65,738 | 50,916 | 33,091 | 34,760 | 28,172 | 8,912 | 7,488 | 6,825 | 8,544 | 1,989 | 6,277 |
Income tax receivable | ||||||||||
1,925 | -6,642 | 8,444 | -18,185 | -24,255 | -29,117 | -18,898 | -7,791 | -6,084 | -34 | 1,391 |
Prepaid expenses and other current assets | ||||||||||
8,976 | 588 | 6,958 | -246 | 3,054 | 3,696 | 4,154 | -110 | 214 | -104 | -1,377 |
Accounts payable | ||||||||||
7,403 | -2,416 | 878 | 387 | 652 | 1,586 | -574 | -369 | 575 | -1,181 | 1,190 |
Operating lease liabilities | ||||||||||
-6,113 | - | - | - | - | - | - | - | - | - | - |
Accrued liabilities | ||||||||||
1,516 | -2,445 | 6,050 | 10,717 | 490 | 6,326 | 7,655 | -530 | 4,887 | -5,200 | 1,960 |
Deferred revenue | ||||||||||
44,442 | 43,603 | 8,639 | 25,811 | 41,731 | 31,961 | 16,188 | 13,393 | 14,862 | 3,474 | 3,065 |
Net cash provided by operating activities | ||||||||||
254,720 | 250,203 | 195,755 | 191,859 | 134,327 | 142,839 | 66,090 | 58,668 | 56,435 | 35,350 | 42,941 |
Cash flows from investing activities: | ||||||||||
Additions to property and equipment | ||||||||||
37,236 | 27,424 | 43,057 | 37,726 | 12,501 | 9,343 | 26,858 | 9,102 | 12,278 | 4,930 | 12,352 |
Purchase of cost method investment | ||||||||||
- | - | - | - | 15,000 | 0 | - | - | - | - | - |
Purchase of marketable security investments | ||||||||||
54,742 | 115,625 | 59,779 | 20,316 | 31,907 | 0 | - | - | - | - | - |
Proceeds from marketable security investments | ||||||||||
70,796 | 81,205 | 28,786 | 16,837 | 900 | 808 | 1,090 | 75 | 50 | 75 | 2,500 |
Investment in software | ||||||||||
4,804 | 0 | 0 | - | - | - | - | - | - | - | - |
Cost of acquisitions, net of cash acquired | ||||||||||
218,734 | 178,093 | 11,344 | 9,394 | 339,961 | 3,242 | 181 | 25,680 | 17,298 | 9,661 | 2,934 |
Decrease in restricted investments | ||||||||||
- | - | - | - | - | - | - | - | - | -6,000 | 918 |
(Increase) decrease in other | ||||||||||
295 | -1,682 | 1 | 121 | -10 | -222 | -291 | 29 | -717 | 178 | -46 |
Net cash used by investing activities | ||||||||||
-245,015 | -238,255 | -85,395 | -50,720 | -398,459 | -11,555 | -25,658 | -34,736 | -28,809 | -8,694 | -13,658 |
Cash flows from financing activities: | ||||||||||
Increase in net borrowings on revolving line of credit | ||||||||||
0 | 0 | 10,000 | -56,000 | 66,000 | 0 | -18,000 | -42,700 | 34,200 | 26,500 | -8,000 |
Purchase of treasury shares | ||||||||||
17,786 | 146,553 | 7,474 | 111,838 | 645 | 22,817 | - | - | 71,802 | 65,793 | 18,263 |
Proceeds from exercise of stock options | ||||||||||
96,908 | 74,907 | 49,845 | 23,527 | 23,160 | 14,680 | 18,289 | 12,443 | 3,553 | 3,181 | 2,295 |
Contributions from employee stock purchase plan | ||||||||||
9,576 | 8,051 | 7,044 | 6,236 | 4,671 | 4,144 | 3,542 | 2,641 | 2,045 | 1,901 | 1,494 |
Debt issuance costs | ||||||||||
- | - | - | - | 2,134 | 0 | - | - | - | 2,027 | - |
Excess tax benefit from exercises of share-based arrangements | ||||||||||
- | - | - | - | - | - | 28,207 | 8,764 | 3,590 | 2,000 | 1,125 |
Net cash provided by financing activities | ||||||||||
88,698 | -63,595 | 39,415 | -138,075 | 91,052 | -3,993 | 32,038 | -18,852 | -28,414 | -34,238 | -21,349 |
Net increase (decrease) in cash and cash equivalents | ||||||||||
98,403 | -51,647 | 149,775 | 3,064 | -173,080 | 127,291 | 72,470 | 5,080 | -788 | -7,582 | 7,934 |