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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities:    
Net income $ 222,325 $ 108,323
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 45,550 47,250
Operating lease right-of-use assets amortization expense 20,628 26,037
Bad debt expense 2,031 11,748
Deferred taxes 4,603 (29,405)
Stock-based compensation expense 71,689 35,005
Unrealized (gain)/loss on derivative instruments (7,904) 32,013
Impairment charges 659 21,002
Other (447) 75,433
Changes in assets and liabilities:    
Trade receivables and contract assets 11,984 (183,143)
Prepaid and other assets 8,980 (3,350)
Accounts payable 1,784 725
Accrued expenses and other liabilities (128,498) (62,153)
Operating lease liabilities (23,251) (29,015)
Income taxes payable (53,747) (24,803)
Net cash provided by operating activities 176,386 25,667
Cash flows from investing activities:    
Purchases of property and equipment (14,796) (41,426)
Purchases of short-term investments (10,865) (60,000)
Acquisition of business, net of cash acquired (Note 3) 0 (10,621)
Purchases of non-marketable securities (1,906) 0
Other investing activities, net (7,943) (11,041)
Net cash used in investing activities (35,510) (123,088)
Cash flows from financing activities:    
Proceeds from issuance of stock under the employee incentive programs 25,631 22,165
Payments of withholding taxes related to net share settlements of restricted stock units (25,691) (20,796)
Proceeds from debt 173 3,227
Repayment of debt (1,964) (10,756)
Repurchase of common stock (49,947) 0
Payment of contingent consideration for previously acquired business (8,684) (207)
Purchase of subsidiary shares from noncontrolling interest (1,972) (2,146)
Other financing activities, net (377) (2,121)
Net cash used in financing activities (62,831) (10,634)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 17,096 (45,661)
Net increase/(decrease) in cash, cash equivalents and restricted cash 95,141 (153,716)
Cash, cash equivalents and restricted cash, beginning of period 1,683,636 1,449,347
Cash, cash equivalents and restricted cash, end of period $ 1,778,777 $ 1,295,631