Ebix, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
  Six Months Ended
  June 30
  2018 2017
Cash flows from operating activities:    
Net income attributable to Ebix, Inc. $55,388 $49,861
Net income attributable to noncontrolling interest 139 659
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and depreciation 5,341 5,614
Benefit for deferred taxes (1,321) (5,877)
Share based compensation 1,509 1,243
Provision for doubtful accounts 2,098 723
Unrealized foreign exchange loss (gain) 1,262 365
Amortization of capitalized software development costs 1,080 790
Purchase accounting adjustment (948
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable (22,907) (14,266)
Other assets (40) 487
Accounts payable and accrued expenses 4,891 (7,254)
Accrued payroll and related benefits (327) (1,694)
Deferred revenue (5,544) (1,622)
Deferred rent (382) (195)
Reserve for potential uncertain income tax return positions 59 3,280
Other liabilities (1,353) 66
Net cash provided by operating activities 39,893 31,232
     
Cash flows from investing activities:    
Acquisition of Transcorp (6,554)
Cash received from Paul Merchants for 10% stake in MTSS combined business 4,996
Acquisition of beBetter, net of cash acquired (1,000)
Acquisition of ItzCash, net of cash acquired (70,184)
Acquisition of Centrum, net of cash acquired (166,017)
Acquisition of SmartClass, net of cash acquired (7,593)
Capitalized software development costs (2,016) (1,345)
Maturities (Purchases) of marketable securities 725 1,626
Capital expenditures (1,472) (4,956)
Net cash used in investing activities (177,931) (75,859)
     
Cash flows from financing activities:    
(Repayments of) Proceeds from revolving line of credit, net 84,165 60,000
Proceeds from term loan 124,250
Principal payments of term loan obligation (3,125) (6,250)
Repurchases of common stock (2,226) (45,732)
Proceeds from the exercise of stock options 42 52
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (100) (237)
Dividend payments (4,737) (4,800)
Cash Overdraft (4,554)
Payments of capital lease obligations (6) (6)
Net cash provided by financing activities 193,709 3,027
Effect of foreign exchange rates on cash (6,545) (39)
Net change in cash and cash equivalents, and restricted cash 49,126 (41,639)
Cash and cash equivalents, and restricted cash at the beginning of the period 70,867 116,941
Cash and cash equivalents, and restricted cash at the end of the period $119,993 $75,302
Supplemental disclosures of cash flow information:    
Interest paid $9,714 $5,173
Income taxes paid $8,357 $7,958