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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Operating Activities    
Net income $ 54,918 $ 30,166
Adjustments to reconcile net income to net cash provided by operations:    
Depreciation 3,878 3,075
Amortization 11,977 13,385
Deferred income taxes (389) (963)
Non-cash stock compensation and retirement savings plan contributions 11,686 10,320
Amortization of debt discount and issuance costs 1,215 5,090
Adjustment to fair value of contingent consideration for purchase of businesses (3,466) 4
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (18,458) (16,366)
Other assets (3,447) (5,371)
Accounts payable (5,977) 2,173
Other liabilities (17,957) (11,633)
Net cash provided by operating activities 33,980 29,880
Investing Activities    
Purchase of property and equipment (6,240) (3,623)
Capitalization of internally developed software costs (421) (569)
Purchase of businesses, net of cash acquired (67) (12)
Net cash used in investing activities (6,728) (4,204)
Financing Activities    
Payment for credit facility financing fees 0 (633)
Payment of contingent consideration for purchase of business 0 (4,208)
Proceeds from the sale of stock through the Employee Stock Purchase Plan 575 211
Purchases of treasury stock (3,818) (11,802)
Remittance of taxes withheld as part of a net share settlement of restricted stock vesting (9,007) (5,243)
Net cash used in financing activities (12,250) (21,675)
Effect of exchange rate on cash and cash equivalents (544) (519)
Change in cash and cash equivalents 14,458 3,482
Cash and cash equivalents at beginning of period 24,410 83,204
Cash and cash equivalents at end of period 38,868 86,686
Supplemental Disclosures:    
Cash paid for income taxes 17,453 10,014
Cash paid for interest 523 1,455
Liability incurred for purchase of property and equipment $ 3,628 $ 0