v3.7.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Operating activities    
Net income $ 40,754 $ 32,882
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property and equipment 8,749 11,404
Amortization of intangible assets 6,557 5,774
Provision for uncollectible overdrawn accounts 18,246 16,766
Employee stock-based compensation 6,534 5,645
Excess tax benefits from equity awards 735 338
Amortization of premium on available-for-sale investment securities 322 269
Amortization of deferred financing costs 394 384
Impairment of capitalized software 156 105
Changes in operating assets and liabilities:    
Accounts receivable, net 5,451 (2,428)
Prepaid expenses and other assets 968 (4,187)
Deferred expenses 5,565 5,113
Accounts payable and other accrued liabilities (13,267) (12,448)
Amounts due to card issuing banks for overdrawn accounts 48 402
Deferred revenue (8,128) (7,458)
Income tax receivable/payable 20,894 18,591
Other, net 881 145
Net cash provided by operating activities 94,859 71,297
Investing activities    
Purchases of available-for-sale investment securities (19,961) (38,492)
Proceeds from maturities of available-for-sale securities 28,989 25,945
Proceeds from sales of available-for-sale securities 15,318 21
Increase in restricted cash (7,967) (581)
Payments for acquisition of property and equipment (11,844) (12,182)
Net (increase) decrease in loans (1,199) 5
Acquisition, net of cash acquired (139,261) 0
Net cash used in investing activities (135,925) (25,284)
Financing activities    
Borrowings from notes payable 20,000 0
Repayments of borrowings from notes payable (25,625) (5,625)
Borrowings on revolving line of credit 205,000 15,000
Repayments on revolving line of credit (155,000) (15,000)
Proceeds from exercise of options 5,155 2,884
Taxes paid related to net share settlement of equity awards (2,162) (1,174)
Net increase (decrease) in deposits 88,947 (15,211)
Net increase (decrease) in obligations to customers 8,269 (50,062)
Contingent consideration payments (192) (189)
Repurchase of Class A common stock (50,000) (9,013)
Deferred financing costs (164) 0
Net cash provided by (used in) financing activities 94,228 (78,390)
Net increase (decrease) in unrestricted cash and cash equivalents 53,162 (32,377)
Unrestricted cash and cash equivalents, beginning of year 732,676 772,129
Unrestricted cash and cash equivalents, end of year 785,838 739,752
Cash paid for interest 1,271 4,397
Cash paid for income taxes $ 122 $ 140