Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
9 Months Ended |
Sep. 30, 2018 |
Sep. 30, 2017 |
| Cash flows from operating activities |
|
|
| Net income |
$ 49,789
|
$ 14,617
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Provision for deferred income taxes |
4,951
|
8,886
|
| Depreciation and amortization |
17,917
|
23,340
|
| Deferred financing costs and derivative and accretion expense |
2,270
|
4,976
|
| Stock-based and deferred compensation |
14,518
|
14,325
|
| Change in fair value of contingent consideration obligations |
(4)
|
(25)
|
| Loss on other receivable |
309
|
2,011
|
| Unrealized depreciation (appreciation) on investments |
(261)
|
(755)
|
| Loss on equity method investment |
506
|
108
|
| Loss on debt extinguishment |
6,058
|
330
|
| Changes in operating assets and liabilities: |
|
|
| Receivables |
5,370
|
21,555
|
| Prepaid expenses |
(44)
|
(2,328)
|
| Other assets |
158
|
(190)
|
| Accounts payable and accrued expenses |
(2,687)
|
(9,251)
|
| Accrued compensation and benefits |
857
|
(17,322)
|
| Other liabilities |
190
|
(867)
|
| Net cash provided by operating activities |
99,897
|
59,410
|
| Cash flows from investing activities |
|
|
| Purchases of property and equipment |
(1,742)
|
(2,628)
|
| Disposal of property and equipment due to restructuring |
|
1,695
|
| Purchases of investments |
(3,557)
|
(7,405)
|
| Sales of investments |
644
|
4,245
|
| Equity method investment |
(3,000)
|
(1,000)
|
| Net cash used in investing activities |
(7,655)
|
(5,093)
|
| Cash flows from financing activities |
|
|
| Payment of Class A common stock deferred offering costs |
(4,287)
|
|
| Repurchase of common stock |
(3,681)
|
(4,504)
|
| Payments of taxes related to net share settlement of equity awards |
(510)
|
|
| Payment of equity awards modified to liabilities |
|
(1,803)
|
| Issuance of Class A common stock under 2018 ESPP |
12
|
|
| Proceeds from long-term senior debt |
359,100
|
125,000
|
| Repayment of draw on line of credit |
|
(3,500)
|
| Payment of debt financing fees |
(2,507)
|
(1,733)
|
| Repayment of long-term senior debt |
(579,750)
|
(45,877)
|
| Repayment of promissory note |
(431)
|
(431)
|
| Payment of dividends |
(694)
|
(121,129)
|
| Payment of consideration for acquisition |
(4,448)
|
(8,381)
|
| Net cash used in financing activities |
(79,968)
|
(59,326)
|
| Effect of changes of foreign exchange rate on cash and cash equivalents |
(56)
|
103
|
| Net increase (decrease) in cash and cash equivalents |
12,218
|
(4,906)
|
| Cash and cash equivalents, beginning of period |
12,921
|
16,441
|
| Cash and cash equivalents, end of period |
25,139
|
11,535
|
| Supplemental cash flow information |
|
|
| Cash paid for interest |
13,775
|
32,704
|
| Cash paid for income taxes |
11,709
|
644
|
| 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 |
$ 679
|
$ 3,032
|