| 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: | |||||||||
Net Income (Loss) Attributable to Parent | |||||||||
65,140 | 14,055 | 29,240 | 14,258 | 44,737 | 25,530 | 14,632 | 4,282 | 2,157 | -1,142 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||
Depreciation and amortization | |||||||||
49,217 | 34,055 | 27,098 | 21,738 | 19,263 | 16,058 | 13,623 | 11,620 | 11,883 | 11,806 |
Provision for doubtful accounts | |||||||||
7,855 | 5,727 | 3,213 | 4,687 | 2,264 | 2,523 | 1,159 | 1,586 | 1,549 | 972 |
Non-cash stock-based compensation expense | |||||||||
140,353 | 146,427 | 113,877 | 82,416 | 46,185 | 32,807 | 20,412 | 15,009 | 13,249 | 13,234 |
Realized loss on foreign currency translation adjustment | |||||||||
- | - | - | - | - | - | - | - | 912 | 0 |
Income taxes | |||||||||
-16,131 | -28,607 | -11,208 | -28,180 | -9,030 | -17,347 | -13,814 | -11,507 | -4,982 | 561 |
Net amortization of premiums and accretion of discounts on available-for-sale securities | |||||||||
666 | -308 | -755 | 0 | 0 | - | - | - | - | - |
Excess tax benefit from employee stock plan | |||||||||
- | - | - | - | - | 19,167 | 12,310 | 8,504 | 6,671 | -549 |
Changes in operating assets and liabilities, net of business combinations: | |||||||||
Accounts receivable | |||||||||
48,231 | 34,476 | 35,004 | 34,575 | 16,806 | 16,784 | 15,747 | 10,202 | 10,669 | -1,120 |
Deferred contract costs, prepaid expenses and other current assets | |||||||||
37,515 | 9,704 | 14,973 | 12,016 | 5,414 | 2,982 | 1,880 | 4,331 | 3,019 | 417 |
Deferred contract costs and other assets | |||||||||
27,495 | 5,977 | 16,325 | 10,496 | 3,271 | 403 | 1,631 | 3,483 | -362 | -851 |
Accounts payable | |||||||||
-5,136 | 2,580 | 5,850 | -23 | 996 | -1,415 | 1,319 | 1,582 | 207 | -2,724 |
Accrued expenses, other liabilities and deferred rent | |||||||||
31,633 | 7,498 | 7,403 | 12,507 | 4,582 | 10,752 | 2,859 | 877 | 938 | -2,372 |
Deferred revenue | |||||||||
32,585 | 24,885 | 27,179 | 36,022 | 6,521 | 9,946 | 5,413 | 8,468 | 9,536 | 5,065 |
Net cash provided by operating activities | |||||||||
223,871 | 213,985 | 159,521 | 142,698 | 108,087 | 74,212 | 41,663 | 28,411 | 25,416 | 23,297 |
Cash flows from investing activities: | |||||||||
Capitalized software | |||||||||
- | - | - | - | - | - | - | - | - | 630 |
Purchases of property and equipment | |||||||||
80,062 | 77,594 | 69,415 | 50,634 | 38,100 | 30,421 | 17,326 | 13,671 | 4,980 | 4,011 |
Purchases of marketable securities | |||||||||
279,926 | 168,006 | 207,676 | 91,528 | 10,355 | 10,741 | 13,643 | 14,610 | 9,223 | 10,040 |
Proceeds from sales and maturities of marketable securities | |||||||||
204,140 | 121,857 | 123,895 | 11,711 | 10,377 | 10,819 | 12,239 | 14,794 | 9,429 | 6,323 |
Payments to Acquire Businesses, Gross | |||||||||
74,420 | 1,000 | 25,636 | 0 | 257 | 24,995 | 0 | 0 | - | - |
Net change in money market securities and other cash equivalents held to satisfy customer funds obligations | |||||||||
-20,370 | 37,959 | -537,077 | 94,306 | 496,860 | -20,908 | 162,347 | 45,785 | 49,315 | 17,697 |
Net cash used in investing activities | |||||||||
-209,898 | -162,702 | 358,245 | -224,757 | -535,195 | -34,430 | -181,077 | -59,272 | -54,089 | -26,055 |
Cash flows from financing activities: | |||||||||
Repurchases of Common Stock | |||||||||
0 | 0 | 29,685 | 43,149 | 19,981 | 0 | 9,794 | 17,310 | 19,784 | 12,156 |
Net proceeds from issuances of Common Stock | |||||||||
3,323 | 6,565 | 4,659 | 4,703 | 6,208 | 8,139 | 11,284 | 13,282 | 14,897 | 6,278 |
Excess tax benefits from employee stock plan | |||||||||
- | - | - | - | - | 19,167 | 12,310 | 8,504 | 6,671 | 549 |
Shares acquired to settle employee tax withholding liabilities | |||||||||
64,806 | 68,034 | 65,522 | 34,989 | 19,883 | 18,058 | 20,384 | 10,941 | 2,797 | 373 |
Principal payments on capital lease obligations | |||||||||
5,422 | 6,340 | 5,831 | 4,810 | 4,082 | 3,541 | 3,418 | 3,016 | 2,503 | 2,445 |
Payments of other long-term liabilities | |||||||||
3,750 | 0 | 400 | 567 | 2,690 | 2,055 | 429 | - | - | - |
Net change in customer funds obligations | |||||||||
55,200 | 97,608 | -456,943 | 164,279 | 496,860 | - | - | - | - | - |
Payments on other borrowings | |||||||||
- | - | - | - | - | - | - | 0 | 0 | - |
Repayments of borrowings of long-term debt | |||||||||
- | - | - | - | - | - | - | - | - | 320 |
Net increase in client fund obligations | |||||||||
- | - | - | - | - | -20,908 | 162,347 | 45,785 | 49,315 | 17,697 |
Net cash provided by financing activities | |||||||||
-15,455 | 29,799 | -553,722 | 85,467 | 456,432 | -17,256 | 151,916 | 36,304 | 45,799 | 9,230 |
Effect of exchange rate changes on cash | |||||||||
-2,956 | 830 | 404 | -2,381 | -820 | -1,549 | 166 | -183 | 79 | 12 |
Net decrease in cash and cash equivalents | |||||||||
-4,438 | 81,912 | -35,552 | 1,027 | 28,504 | 20,977 | 12,668 | 5,260 | 17,205 | 6,484 |
Supplemental disclosure of cash flow information: | |||||||||
Cash paid for interest | |||||||||
596 | 498 | 426 | 371 | 327 | 358 | 419 | 241 | 218 | 149 |
Cash paid for taxes | |||||||||
7,581 | 2,192 | 1,758 | 815 | 582 | 476 | 471 | 604 | 203 | 175 |
Non-cash investing and financing activities: | |||||||||
Capital lease obligations to acquire new equipment | |||||||||
9,091 | 7,250 | 6,719 | 5,949 | 5,907 | 3,293 | 3,986 | 2,928 | 3,852 | 2,499 |
Stock consideration adjustment recorded for acquisitions | |||||||||
- | - | - | - | -818 | 0 | 0 | 0 | - | - |
Stock consideration for acquisitions | |||||||||
- | - | - | - | -818 | 6,115 | 0 | - | - | - |
Cash held in escrow for business combinations | |||||||||
0 | 0 | 3,600 | 0 | 0 | - | - | - | - | - |
Software Services Agreement | |||||||||
0 | 6,500 | 0 | 0 | - | - | - | - | - | - |
License agreement with third-party vendor, financed | |||||||||
- | - | - | - | 800 | 0 | 0 | - | - | - |
Stock based compensation for capitalized software | |||||||||
3,533 | 4,003 | 3,903 | 3,013 | 1,730 | 1,398 | 420 | - | - | - |
Agreement to purchase source code, payments | |||||||||
- | - | - | - | - | - | - | - | - | 500 |
Adjustments between goodwill and other comprehensive income (loss) related to foreign currency translation adjustments | |||||||||
- | - | - | - | - | - | - | - | 173 | 701 |