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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 170,148 $ 169,788
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and intangible assets amortization 65,133 58,012
Operating lease right-of-use assets expense 10,750 11,374
Deferred income tax benefit (36,764) (35,304)
Provision for bad debts 2,311 2,426
Stock-based compensation expense 100,472 75,149
Other 855 3,562
Changes in operating assets and liabilities:    
Accounts receivable 133,435 110,044
Other receivables and current assets 47,903 73,596
Other long-term assets (1,847) (3,834)
Accounts payable, accrued expenses and current liabilities (122,952) (129,933)
Accrued income taxes 5,575 9,097
Deferred revenue (45,371) (12,914)
Other long-term liabilities (6,016) (1,183)
Net cash provided by operating activities 323,632 329,880
Cash flows from investing activities:    
Acquisitions, net of cash acquired (197,786) (241,630)
Capital expenditures (12,037) (10,059)
Other investing activities (5,804) 85
Net cash used in investing activities (215,627) (251,604)
Cash flows from financing activities:    
Purchase of treasury stock 196,494 155,571
Restricted stock withholding taxes paid in lieu of issued shares (59,855) (61,554)
Proceeds from shares issued for stock-based compensation 13,622 10,814
Other financing activities (1,294) (1,290)
Net cash used in financing activities (244,021) (207,601)
Effect of exchange rate fluctuations on cash and cash equivalents (500) (21,039)
Net decrease in cash and cash equivalents (136,516) (150,364)
Cash and cash equivalents, beginning of period 614,391 667,667
Cash and cash equivalents, end of period 477,875 517,303
Supplemental disclosure of cash flow information:    
Income taxes paid 83,635 11,926
Interest paid 21,847 6,298
Non-cash and unpaid consideration in connection with acquisitions $ 5,056 $ 3,223