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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 137,148 $ 35,290
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 49,081 42,660
Non-cash interest expense and other (251) 2,817
Write-off of fees on credit facilities and senior notes 158 0
Change in fair value of contingent consideration 0 5,000
Increase (decrease) in allowance for credit losses and sales credits (526) 6,742
Provision for deferred income taxes (1,390) (9,827)
Share-based compensation 15,306 11,274
Loss on disposal or sale of fixed assets 383 3,321
Amortization of discount on investments (35) (71)
Net loss on deferred compensation balances 245 379
Non-cash lease expense (794) 180
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable (91,911) 2,160
Accounts receivable, subcontractor (56,424) 14,245
Income taxes receivable 4,791 6,157
Prepaid expenses (4,186) (3,260)
Other current assets 3,308 584
Other assets 962 3,144
Accounts payable and accrued expenses 91,823 (14,035)
Accrued compensation and benefits 65,101 (1,187)
Other liabilities (5,765) 22,764
Deferred revenue 3,582 (72)
Restricted investments balance 19 6
Net cash provided by operating activities 210,625 128,271
Cash flows from investing activities:    
Purchase and development of fixed assets (23,069) (19,727)
Purchase of investments (17,995) (23,129)
Proceeds from maturity of investments 30,700 14,100
Purchase of equity investment (500) 0
Payments to fund deferred compensation plan (1,391) (6,191)
Purchase of convertible promissory notes 0 (490)
Cash paid for acquisitions, net of cash and restricted cash received (41,264) (476,491)
Cash paid for other intangibles (90) (1,400)
Cash received for working capital adjustments for prior year acquisitions 0 66
Net cash used in investing activities (53,609) (513,262)
Cash flows from financing activities:    
Payments on term loans (21,875) (1,563)
Proceeds from term loans 0 250,000
Payments on revolving credit facility (70,000) (125,000)
Proceeds from revolving credit facility 70,000 225,000
Payment of financing costs 0 (4,181)
Earn-out payments to settle contingent consideration liabilities for prior acquisitions (3,100) (10,622)
Cash paid for shares withheld for taxes (5,728) (4,640)
Net cash provided by (used in) financing activities (30,703) 328,994
Effect of exchange rate changes on cash (21) (105)
Net increase (decrease) in cash, cash equivalents and restricted cash 126,292 (56,102)
Cash, cash equivalents and restricted cash at beginning of period 83,990 153,962
Cash, cash equivalents and restricted cash at end of period 210,282 97,860
Supplemental disclosures of cash flow information:    
Cash paid for amounts included in the measurement of operating lease liabilities 9,740 10,112
Cash paid for interest (net of $195 and $208 capitalized for the six months ended June 30, 2021 and 2020, respectively) 19,028 12,759
Cash paid for income taxes 44,061 59
Acquisitions:    
Fair value of tangible assets acquired in acquisitions, net of cash and restricted cash received 1,910 35,868
Goodwill 27,726 274,560
Intangible assets 12,440 228,000
Liabilities assumed (812) (61,937)
Net cash paid for acquisitions 41,264 476,491
Supplemental disclosures of non-cash investing and financing activities:    
Purchase of fixed assets recorded in accounts payable and accrued expenses $ 3,665 $ 1,225