SUMMARY CONSOLIDATED CASH FLOWS
(dollars in thousands)
(unaudited)
| FOR THE THREE MONTHS ENDED SEPTEMBER 30, | FOR THE NINE MONTHS ENDED SEPTEMBER 30, | ||||||||||||||
| 2019 | 2018 | 2019 | 2018 | ||||||||||||
| Income (loss) before income taxes | $ | 657 | $ | (1,033 | ) | $ | 6,006 | $ | 33,614 | ||||||
| Taxes paid | (6,713 | ) | (13,660 | ) | (16,483 | ) | (24,459 | ) | |||||||
| Non-cash expenses | 29,524 | 32,163 | 86,139 | 70,959 | |||||||||||
| Change in deferred revenue | 63,629 | 36,989 | 875 | 9,822 | |||||||||||
| Increase (decrease) in operating working capital, deferred charges and other | 38,402 | 115,926 | (4,561 | ) | 86,681 | ||||||||||
| Capital spending and capitalized patent costs | (8,483 | ) | (9,678 | ) | (29,185 | ) | (25,727 | ) | |||||||
| FREE CASH FLOW | 117,016 | 160,707 | 42,791 | 150,890 | |||||||||||
| Long-term investments | — | (436 | ) | — | (6,686 | ) | |||||||||
| Acquisition of business, net of cash required | — | (142,985 | ) | — | (142,985 | ) | |||||||||
| Acquisition of patents | — | — | — | (2,250 | ) | ||||||||||
| Proceeds from sale of business | 10,000 | — | 10,000 | — | |||||||||||
| Proceeds from noncontrolling interest | — | — | 10,333 | — | |||||||||||
| Dividends paid | (10,894 | ) | (12,153 | ) | (33,683 | ) | (36,472 | ) | |||||||
| Taxes withheld upon vesting of restricted stock units | (179 | ) | (91 | ) | (4,316 | ) | (8,479 | ) | |||||||
| Payments on long-term debt | — | — | (221,091 | ) | — | ||||||||||
| Proceeds from issuance of convertible senior notes | — | — | 400,000 | — | |||||||||||
| Purchase of convertible bond hedge | — | — | (72,000 | ) | — | ||||||||||
| Payment for warrant unwind | — | — | (4,184 | ) | — | ||||||||||
| Prepayment penalty on long-term debt | — | — | (10,763 | ) | — | ||||||||||
| Proceeds from hedge unwind | — | — | 9,038 | — | |||||||||||
| Proceeds from issuance of warrants | — | — | 47,600 | — | |||||||||||
| Payments of debt issuance costs | (1,075 | ) | — | (8,375 | ) | — | |||||||||
| Share repurchases | — | (34,336 | ) | (171,269 | ) | (43,508 | ) | ||||||||
| Net proceeds from exercise of stock options | — | 2,432 | 2 | 6,362 | |||||||||||
| Unrealized gain (loss) on short-term investments | 440 | 593 | 4,392 | (575 | ) | ||||||||||
| NET INCREASE (DECREASE) IN CASH, RESTRICTED CASH AND SHORT-TERM INVESTMENTS | $ | 115,308 | $ | (26,269 | ) | $ | (1,525 | ) | $ | (83,703 | ) | ||||
