Quarter Ended March 31, 2021 and 2020
| Quarter Ended March 31, | |||||||
| (in thousands) | 2021 | 2020 | |||||
| Cash flows from operating activities: | |||||||
| Net income (loss) | $ | 45,228 | $ | (18,924 | ) | ||
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | |||||||
| Depreciation and amortization | 9,102 | 11,690 | |||||
| Stock-based compensation | 11,050 | 6,312 | |||||
| Loss on hedge termination | 721 | — | |||||
| Provision for bad debts | (142 | ) | 817 | ||||
| (Gain) loss on the disposition of businesses, property, equipment and other assets | (39,401 | ) | 137 | ||||
| Provision for deferred income taxes and reserve adjustments | (8,889 | ) | (106 | ) | |||
| Impairment of goodwill and assets | — | 1,100 | |||||
| Changes in operating accounts: | |||||||
| Accounts receivable | 15,941 | 1,568 | |||||
| Inventories | 2,699 | (2,694 | ) | ||||
| Prepaid expenses and other current assets | (2,303 | ) | (14,298 | ) | |||
| Accounts payable | 1,665 | 6,616 | |||||
| Deferred revenue and customer deposits | 1,552 | 10,242 | |||||
| Accrued and other liabilities | (17,491 | ) | (5,741 | ) | |||
| All other operating activities | 8,721 | 996 | |||||
| Net cash provided by (used in) operating activities | 28,453 | (2,285 | ) | ||||
| Cash flows from investing activities: | |||||||
| Purchases of property and equipment | (3,878 | ) | (4,366 | ) | |||
| Proceeds from sale of assets and businesses, net of cash | 54,747 | 552 | |||||
| Purchase of noncontrolling interest | (4,000 | ) | (12,500 | ) | |||
| Other investing activities | (306 | ) | (284 | ) | |||
| Net cash provided by (used in) investing activities | 46,563 | (16,598 | ) | ||||
| Cash flows from financing activities: | |||||||
| Repayment of borrowings/long-term debt | (21,392 | ) | (627 | ) | |||
| Proceeds from inventory financing agreements | — | 2,509 | |||||
| Payments related to net-share settlement of stock-based compensation | (2,749 | ) | (949 | ) | |||
| Other financing activities | (196 | ) | 296 | ||||
| Net cash (used in) provided by financing activities | (24,337 | ) | 1,229 | ||||
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (2,434 | ) | (3,241 | ) | |||
| Net increase (decrease) in cash, cash equivalents and restricted cash | 48,245 | (20,895 | ) | ||||
| Cash, cash equivalents and restricted cash at the beginning of the period (a) | 84,711 | 134,617 | |||||
| Cash, cash equivalents and restricted cash at the end of the period (a) | $ | 132,956 | $ | 113,722 | |||
(a) The amounts for cash and cash equivalents shown above include restricted cash of $516 and $946 as of March 31, 2021 and 2020, respectively, and $540 and $952 as of December 31, 2020, and 2019, respectively, which were included in Other assets, net, and $9,161 as of December 31, 2020, which was included in Current assets held for sale in the condensed consolidated balance sheets.
