| 31-Dec-22 | 31-Dec-21 | 31-Dec-20 | |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income attributable to Ebix, Inc. | $ 64,645 | $ 68,188 | $92,377 |
| Net income attributable to noncontrolling interest | (2,017) | (1,249 ) | (3,550) |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation and amortization | 18,531 | 15,178 | 13,738 |
| Provision for doubtful accounts | 1,433 | (2,334 ) | 1,749 |
| Provision for deferred taxes, net of acquisitions and effects of currency translation | (17,972) | (11,104 ) | 5,114 |
| Unrealized foreign exchange (gain)/losses | — | ||
| Amortization of capitalized software development costs | 2,983 | 3,317 | 6,100 |
| Share-based compensation | 3,875 | 5,360 | 3,367 |
| Amortization of right-of-use assets | 3,557 | 4,294 | 4,792 |
| Reduction of acquisition earn-out contingent liability | — | (3,105) | |
| Reduction of rent expense as a result of purchase accounting adjustment | - | ||
| Changes in current assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (15,049) | (10,866 ) | 3,258 |
| Receivables from service providers | (2,871) | 3,359 | 20,896 |
| Payables to service agents | 5,003 | 1,015 | (6,915) |
| Other assets | (8,409) | (17,305 ) | (10,487) |
| Accounts payable and accrued expenses | 21,183 | 18,545 | (14,569) |
| Accrued payroll and related benefits | (56) | (143 ) | 2,100 |
| Lease Liabilities | (3,460) | (3,951 ) | (5,700) |
| Reserve for potential uncertain income tax return positions | — | (2,071 ) | — |
| Other Liabilities | 6,722 | 694 | (12,204) |
| Deferred revenue | (531) | (1,456 ) | 3,680 |
| Net cash provided by operating activities | 77,567 | 69,471 | 100,356 |
| Cash flows from investing activities: | |||
| Acquisitions/Investments, net of cash acquired | — | (14,276) | |
| Payment of acquisition earn-out contingencies | |||
| Cash paid for Paul Merchants for 10% stake in MTSS and other investment | |||
| Purchases of marketable securities | |||
| Maturities (purchases) of marketable securities | (968) | 8,567 | (20,964) |
| Capitalized software development costs | (7,051) | (5,700 ) | (4,229) |
| Capital expenditures | (14,476) | (7,465 ) | (5,337) |
| Net cash used in investing activities | (22,495) | (4,598 ) | (44,806) |
| Cash flows from financing activities: | |||
| Proceeds from line of credit | 10,500 | 1,364 | |
| Repayment to line of credit | |||
| Proceeds from term loan | — | ||
| Principal payments on term loan obligation | (23,464) | (42,594 ) | (20,711) |
| Cash overdraft | (10,927) | ||
| Repurchase of common stock | — | ||
| Short term loan to a third party | — | ||
| Payments of long term debt | 1,147 | 1,075 | (271) |
| Payments for capital lease obligations | (190) | (100 ) | (210) |
| Proceeds from exercise of common stock options | — | 636 | 636 |
| Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested | (128) | (1,402 ) | (230) |
| Dividends Paid | (9,271) | (9,284 ) | (9,245) |
| Net cash provided (used) by financing activities | (23,171) | (63,218) | (41,953) |
| Effect of foreign exchange rates on cash and cash equivalents, and restricted cash equivalents | (21,706) | (7,104 ) | (4,753) |
| Net change in cash and cash equivalents, and restricted cash equivalents | 10,195 | (5,449 ) | 8,844 |
| Cash and cash equivalents, and restricted cash equivalents at the beginning of the year | 114,764 | 120,213 | 111,369 |
| Cash and cash equivalents, and restricted cash equivalents at the end of the year | $ 24,959 | $114,764 | $120,213 |
| Supplemental disclosures of cash flow information: | |||
| Interest paid | $ 33,244 | 30,369 | 29,498 |
| Income taxes paid | $ 24,201 | 17,675 | 21,321 |
| In November 2016, and adopted by Ebix on January 1, 2018, the FASB issued ASU 2016-18, "Statement of Cash Flow (Topic 230) Restricted Cash" amends ASC 230 to add or clarify guidance on the classification and presentation of restricted cash in the statement of cash flows. The amendments in this Update require that a statement of cash flows explain the change during the period in the total of cash, cash equivalents,and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginningof-period and end-of-period total amounts shown on the statement of cash flows. |
|||
| Cash and Cash equivalents | 99,625 | ||
| Restricted cash | 9,080 | ||
| Restricted cash included in other long-term assets | |||
| "Total cash, cash equivalents, and restricted cash shown in the statement of cash flows" |
$125.2 | $120,213 |