Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Jun. 30, 2018 |
Jun. 30, 2017 |
| Cash flows from operating activities |
|
|
| Net income |
$ 29,199
|
$ 6,767
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Provision for deferred income taxes |
2,205
|
3,649
|
| Depreciation and amortization |
12,343
|
16,285
|
| Deferred financing costs and derivative and accretion expense |
1,646
|
3,330
|
| Stock-based and deferred compensation |
9,434
|
8,514
|
| Change in fair value of contingent consideration obligations |
(4)
|
(25)
|
| Loss on other receivable |
114
|
2,011
|
| Unrealized depreciation (appreciation) on investments |
(122)
|
(265)
|
| Loss on equity method investment |
339
|
173
|
| Loss on debt extinguishment |
6,058
|
|
| Changes in operating assets and liabilities: |
|
|
| Receivables |
3,103
|
17,217
|
| Prepaid expenses |
(405)
|
(3,476)
|
| Other assets |
155
|
(26)
|
| Accounts payable and accrued expenses |
(2,220)
|
(7,954)
|
| Accrued compensation and benefits |
(5,529)
|
(18,549)
|
| Other liabilities |
3,276
|
(557)
|
| Net cash provided by operating activities |
59,592
|
27,094
|
| Cash flows from investing activities |
|
|
| Purchases of property and equipment |
(1,308)
|
(1,817)
|
| Disposal of property and equipment due to restructuring |
|
1,407
|
| Purchases of investments |
(2,612)
|
(3,126)
|
| Sales of investments |
628
|
1,201
|
| Equity method investment |
(2,000)
|
|
| Net cash used in investing activities |
(5,292)
|
(2,335)
|
| Cash flows from financing activities |
|
|
| Payment of Class A common stock deferred offering costs |
(4,289)
|
|
| Repurchase of common stock |
(720)
|
(4,494)
|
| Payment of equity awards modified to liabilities |
|
(1,803)
|
| Proceeds from long-term senior debt |
359,100
|
125,000
|
| Repayment of draw on line of credit |
|
(3,500)
|
| Payment of debt financing fees |
(2,429)
|
(1,733)
|
| Repayment of long-term senior debt |
(559,750)
|
(15,877)
|
| Repayment of promissory note |
(287)
|
(287)
|
| Payment of dividends |
(197)
|
(119,950)
|
| Payment of consideration for acquisition |
|
(5,535)
|
| Net cash used in financing activities |
(52,013)
|
(26,267)
|
| Effect of changes of foreign exchange rate on cash and cash equivalents |
(46)
|
|
| Net increase (decrease) in cash and cash equivalents |
2,241
|
(1,508)
|
| Cash and cash equivalents, beginning of period |
12,921
|
16,441
|
| Cash and cash equivalents, end of period |
15,162
|
14,933
|
| Supplemental cash flow information |
|
|
| Cash paid for interest |
10,136
|
22,961
|
| Cash paid for income taxes |
4,837
|
343
|
| Supplemental disclosure of non-cash item |
|
|
| Class A common stock offering costs reclassed from prepaid expenses to additional paid in capital |
267
|
|
| Settlement of compensation liability with issuance of restricted share awards |
180
|
|
| Class A |
|
|
| Cash flows from financing activities |
|
|
| Issuance of common stock |
156,549
|
|
| Class B |
|
|
| Cash flows from financing activities |
|
|
| Issuance of common stock |
$ 10
|
$ 1,912
|