XML 36 R7.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities    
Net income $ 107,397 $ 58,234
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45,376 37,532
Amortization of contract acquisition costs 350 205
Amortization of debt issuance costs 447 366
Imputed interest expense and fair value adjustments to contingent consideration 1,046 1,941
Provision for credit losses 155 607
(Gain) loss on disposal of assets 386 17
Loss on dissolution of subsidiary   2,467
Impairment losses 4,217 696
Deferred income taxes (5,522) 3,289
Excess tax benefit from equity-based awards (3,340) (403)
Equity-based compensation expense 7,399 5,976
(Gain) loss on foreign currency derivatives 21 114
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable 48,515 (26,007)
Prepaids and other assets 3,175 30,287
Accounts payable and accrued expenses (18,062) 35,572
Deferred revenue and other liabilities (58,721) (45,615)
Net cash provided by operating activities 132,839 105,278
Cash flows from investing activities    
Proceeds from sale of long-live assets 29 16
Purchases of property, plant and equipment (23,593) (31,915)
Acquisitions, net of cash acquired of $18,638 and $3,123, respectively (481,718) (4,421)
Net cash used in investing activities (505,282) (36,320)
Cash flows from financing activities    
Net proceeds (borrowings) from line of credit 449,000 410,000
Payments on other debt (3,522) (4,356)
Payments of contingent consideration and hold back payments to acquisitions (11,517) (48,686)
Dividends paid to shareholders (20,132) (15,843)
Payments to noncontrolling interest (5,589) (5,091)
Tax payments related to issuance of restricted stock units (6,680) (3,218)
Payments of debt issuance costs (1,102) (35)
Net cash (used in) provided by financing activities 400,458 332,771
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,930) (4,645)
Increase (decrease) in cash, cash equivalents and restricted cash 26,085 397,084
Cash, cash equivalents and restricted cash, beginning of period 159,015 105,591
Cash, cash equivalents and restricted cash, end of period 185,100 502,675
Supplemental disclosures    
Cash paid for interest 4,637 5,924
Cash paid for income taxes 46,723 10,605
Non-cash investing and financing activities    
Acquisition of long lived assets through finance leases 625 1,599
Acquisition of equipment through increase in accounts payable, net $ (2,727) $ (2,169)