Ebix, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
  Nine Months Ended
  September 30,
  2017 2016
Cash flows from operating activities:    
Net income attributable to Ebix, Inc. $74,045 $69,218
Net income attributable to noncontrolling interest 1,013 133
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization and depreciation 8,323 8,088
Benefit for deferred taxes (6,327) (6,250)
Share based compensation 1,994 2,078
Provision for doubtful accounts 1,107 700
Unrealized foreign exchange (gain) loss 432 (328)
Gain on investment interest in IHC/Ebix joint venture (1,162)
Amortization of capitalized software development costs 1,304 1,040
Reduction of acquisition earnout accruals (164) (1,726)
Purchase accounting adjustment (948)
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable (30,250) (11,205)
Other assets 126 (3,402)
Accounts payable and accrued expenses 838 (4,499)
Accrued payroll and related benefits (1,009) 79
Deferred revenue (3,160) (290)
Deferred rent (292) (168)
Reserve for potential uncertain income tax return positions 3,335 700
Other liabilities (255) 44
Net cash provided by operating activities 50,112 53,050
     
Cash flows from investing activities:    
Acquisition of beBetter, net of cash acquired (1,000)
Investment in the EbixHealth JV, net of cash acquired (696)
Acquisition of ItzCash, net of cash acquired (70,184)
Acquisition of YouFirst, net of cash acquired (1,806)
Funding of escrow account for possible future contingent earn-out payment related to business acquisition (3,998)
Funding of escrow account for acquisition pending shareholder approval (7,221)
Maturities of marketable securities 7,517
Capitalized software development costs (2,109) (1,034)
Maturities (Purchases) of marketable securities (1,078)
Capital expenditures (6,370) (4,420)
Net cash used in investing activities (85,171) (7,228)
     
Cash flows from financing activities:    
Proceeds from revolving line of credit, net 80,000 (72,436)
Proceeds from term loan 125,000
Principal payments of term loan obligation (9,375) (3,125)
Repurchases of common stock (45,732) (43,775)
Proceeds from the exercise of stock options 52 29
Forfeiture of certain shares to satisfy exercise costs and the recipients income tax obligations related to stock options exercised and restricted stock vested (327) (147)
Dividend payments (7,176) (7,401)
Principal payments of debt obligations (600)
Payments of capital lease obligations (7) (4)
Net cash provided by (used in) financing activities 17,435 (2,459)
Effect of foreign exchange rates on cash 240 (736)
Net change in cash and cash equivalents (17,384) 42,627
Cash and cash equivalents at the beginning of the period 114,118 57,179
Cash and cash equivalents at the end of the period $96,734 $99,806
Supplemental disclosures of cash flow information:    
Interest paid $8,474 $5,318
Income taxes paid $8,536 $14,068