What are

the major cash flow items in each area?

What is the trend of cash flows over the most

recent two

-

year period?

Does the company have a positive cash flow from operations?

What was the

amount of cash flow generated from operations

	Year Ended December 31,
	2019				2018				2017
Cash flows from operating activities
Net income	$	18,485			$	22,112			$	15,934
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	5,741				4,315				3,025
Share-based compensation	4,836				4,152				3,723
Deferred income taxes	(37		)		286				(377		)
Other	39				(64		)		24
Changes in assets and liabilities:
Accounts receivable	(1,961		)		(1,892		)		(1,609		)
Prepaid expenses and other current assets	47				(690		)		(192		)
Other assets	41				(159		)		154
Accounts payable	113				221				43
Partners payable	348				157				95
Accrued expenses and other current liabilities	7,300				1,417				309
Deferred revenue and deposits	123				53				4
Other liabilities	1,239				(634		)		3,083
Net cash provided by operating activities	36,314				29,274				24,216
Cash flows from investing activities
Purchases of property and equipment, net	(15,102		)		(13,915		)		(6,733		)
Purchases of marketable securities	(23,910		)		(14,656		)		(25,682		)
Sales of marketable securities	9,565				12,358				9,444
Maturities of marketable securities	10,152				4,772				2,988
Acquisitions of businesses, net of cash acquired, and purchases of intangible assets	(508		)		(137		)		(122		)
Other investing activities, net	(61		)		(25		)		(13		)
Net cash used in investing activities	(19,864		)		(11,603		)		(20,118		)
Cash flows from financing activities
Taxes paid related to net share settlement of equity awards	(2,337		)		(3,208		)		(3,246		)
Repurchases of Class A common stock	(4,202		)		(12,879		)		(1,976		)
Principal payments on finance leases	(552		)
Net change in overdraft in cash pooling entities	(223		)		500
Other financing activities, net	15				15				(13		)
Net cash used in financing activities	(7,299		)		(15,572		)		(5,235		)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	4				(179		)		232
Net increase (decrease) in cash, cash equivalents, and restricted cash	9,155				1,920				(905		)
Cash, cash equivalents, and restricted cash at beginning of the period	10,124				8,204				9,109
Cash, cash equivalents, and restricted cash at end of the period	$	19,279			$	10,124			$	8,204
Reconciliation of cash, cash equivalents, and restricted cash to the consolidated balance sheets
Cash and cash equivalents	$	19,079			$	10,019			$	8,079
Restricted cash, included in prepaid expenses and other current assets	8				10				18
Restricted cash, included in other assets	192				95				107
Total cash, cash equivalents, and restricted cash	$	19,279			$	10,124			$	8,204