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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 217,952 $ 184,239
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation 21,140 17,624
Stock-based compensation 32,631 17,747
Provision for credit losses on accounts and other receivables 25,478 2,477
Amortization of deferred financing costs and discounts 1,968 1,471
Amortization of intangible assets and premium on receivables 55,662 48,105
Deferred income taxes 1,900 4,497
Investment loss (gain) 152 (9)
Other 113 57
Changes in operating assets and liabilities (net of acquisitions/dispositions):    
Accounts and other receivables (818,969) (468,593)
Prepaid expenses and other current assets (23,261) 59,269
Other assets (8,940) 4,609
Accounts payable, accrued expenses and customer deposits 381,921 206,357
Net cash (used in) provided by operating activities (112,253) 77,850
Investing activities    
Acquisitions, net of cash acquired (35,864) (43,727)
Purchases of property and equipment (31,387) (19,526)
Proceeds from disposal of investment 0 9
Net cash used in investing activities (67,251) (63,244)
Financing activities    
Proceeds from issuance of common stock 8,810 27,345
Repurchase of common stock (422,736) (162,041)
Borrowings on securitization facility, net 318,000 215,000
Deferred financing costs (337) 0
Principal payments on notes payable (45,063) (41,188)
Borrowings from revolver 490,000 330,000
Payments on revolver (400,000) (353,851)
Borrowings (payments) on swing line of credit, net 1,505 (33,311)
Other 0 1,467
Net cash used in financing activities (49,821) (16,579)
Effect of foreign currency exchange rates on cash 68,068 (43,124)
Net decrease in cash and cash equivalents and restricted cash (161,257) (45,097)
Cash and cash equivalents and restricted cash, beginning of period 2,250,695 1,476,619
Cash and cash equivalents and restricted cash, end of period 2,089,438 1,431,522
Supplemental cash flow information    
Cash paid for interest 33,967 27,732
Cash paid for income taxes $ 72,296 $ 32,041