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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 103,634 $ 74,503
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,866 17,150
Bad debt expense 79 1,690
Deferred income taxes 1,386 (11)
Stock-based compensation expense 39,920 37,520
Excess tax benefit on stock-based compensation plans 0 (4,769)
Other (3,496) 1,834
(Increase) decrease in operating assets:    
Accounts receivable (24,396) (14,801)
Unbilled revenues (42,540) 15,633
Prepaid expenses and other assets 4,436 (630)
Increase (decrease) in operating liabilities:    
Accounts payable 1,885 2,011
Accrued expenses and other liabilities 18,725 (26,402)
Due to employees 5,939 8,047
Taxes payable (2,458) (609)
Net cash provided by operating activities 123,980 111,166
Cash flows from investing activities:    
Purchases of property and equipment (16,881) (19,981)
Employee housing loans issued (618) (1,361)
Proceeds from repayments of employee housing loans 1,897 1,597
(Increase) decrease in restricted cash and time deposits, net (268) 30,001
Acquisition of businesses, net of cash acquired (6,840) (4,499)
Other investing activities, net (1,304) (2,647)
Net cash (used in) provided by investing activities (24,014) 3,110
Cash flows from financing activities:    
Proceeds from stock option exercises 44,315 15,850
Excess tax benefit on stock-based compensation plans 0 4,769
Payments of withholding taxes related to net share settlements of restricted stock units (3,088) 0
Proceeds from debt (Note 4) 25,000 20,000
Repayment of debt (Note 4) (25,089) (22,096)
Acquisition of business, deferred consideration 0 (2,260)
Other financing activities, net (922) 135
Net cash provided by financing activities 40,216 16,398
Effect of exchange rate changes on cash and cash equivalents 10,286 504
Net increase in cash and cash equivalents 150,468 131,178
Cash and cash equivalents, beginning of period 362,025 199,449
Cash and cash equivalents, end of period $ 512,493 $ 330,627