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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Operating activities    
Net income $ 184,239 $ 147,060
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,624 15,788
Stock-based compensation 17,747 14,175
Provision for losses on accounts and other receivables 2,477 117,746
Amortization of deferred financing costs and discounts 1,471 1,354
Amortization of intangible assets and premium on receivables 48,105 48,688
Deferred income taxes 7,992 (7,322)
Investment (gain) loss (9) 2,371
Other 57 (38)
Changes in operating assets and liabilities (net of acquisitions/dispositions):    
Accounts and other receivables (468,593) 156,052
Prepaid expenses and other current assets 59,269 (45,149)
Other assets 4,609 (3,046)
Accounts payable, accrued expenses and customer deposits 202,862 (27,646)
Net cash provided by operating activities 77,850 420,033
Investing activities    
Acquisitions, net of cash acquired (43,727) (467)
Purchases of property and equipment (19,526) (18,257)
Proceeds from disposal of a business 9 0
Net cash used in investing activities (63,244) (18,724)
Financing activities    
Proceeds from issuance of common stock 27,345 73,274
Repurchase of common stock (162,041) (530,237)
Borrowings (payments) on securitization facility, net 215,000 (151,973)
Principal payments on notes payable (41,188) (51,722)
Borrowings from revolver 330,000 573,500
Payments on revolver (353,851) (204,460)
Payments on swing line of credit, net 33,311 22,741
Other 1,467 (92)
Net cash used in financing activities (16,579) (314,451)
Effect of foreign currency exchange rates on cash (43,124) (209,859)
Net decrease in cash and cash equivalents and restricted cash (45,097) (123,001)
Cash and cash equivalents and restricted cash, beginning of period 1,476,619 1,675,237
Cash and cash equivalents and restricted cash, end of period 1,431,522 1,552,236
Supplemental cash flow information    
Cash paid for interest 27,732 40,394
Cash paid for income taxes $ 32,041 $ 32,939