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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Operating activities    
Net income $ 380,486 $ 305,548
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 36,094 31,607
Stock-based compensation 35,632 23,164
Provision for credit losses on accounts and other receivables 8,521 139,000
Amortization of deferred financing costs and discounts 3,248 2,886
Amortization of intangible assets and premium on receivables 98,853 95,031
Loss on extinguishment of debt 6,230 0
Deferred income taxes 12,897 (8,730)
Investment gain (9) (31,338)
Other 81 (268)
Changes in operating assets and liabilities (net of acquisitions/dispositions):    
Accounts and other receivables (706,574) 359,685
Prepaid expenses and other current assets 115,239 46,216
Other assets 20,715 828
Accounts payable, accrued expenses and customer deposits 345,029 (161,461)
Net cash provided by operating activities 356,442 802,168
Investing activities    
Acquisitions, net of cash acquired (114,994) (492)
Purchases of property and equipment (45,765) (36,870)
Other (2,281) 0
Net cash used in investing activities (163,040) (37,362)
Financing activities    
Proceeds from issuance of common stock 35,921 92,977
Repurchase of common stock (416,585) (557,361)
Borrowings (payments) on securitization facility, net 300,000 (316,973)
Deferred financing costs and debt discount (21,039) (974)
Proceeds from notes payable 1,150,000 0
Principal payments on notes payable (419,250) (92,910)
Borrowings from revolver 405,000 573,500
Payments on revolver (623,851) (726,644)
Payments on swing line of credit, net (51,157) (3,879)
Other (366) (169)
Net cash provided by (used in) financing activities 358,673 (1,032,433)
Effect of foreign currency exchange rates on cash 30,609 (216,264)
Net increase (decrease) in cash and cash equivalents and restricted cash 582,684 (483,891)
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 2,059,303 1,191,346
Supplemental cash flow information    
Cash paid for interest 54,818 68,454
Cash paid for income taxes $ 113,969 $ 56,790