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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 214,888 $ 222,325
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 43,267 45,550
Operating lease right-of-use assets amortization expense 18,773 20,628
Bad debt (recovery)/expense (2,397) 2,031
Deferred taxes (12,011) 4,603
Stock-based compensation expense 80,475 71,689
Unrealized gain on derivative instruments 0 (7,904)
Impairment charges 97 659
Other 12,466 (447)
Changes in assets and liabilities:    
Trade receivables and contract assets (63,001) 11,984
Prepaid and other assets (3,659) 8,980
Accounts payable (2,354) 1,784
Accrued expenses and other liabilities (44,703) (128,498)
Operating lease liabilities (19,380) (23,251)
Income taxes payable (35,514) (53,747)
Net cash provided by operating activities 186,947 176,386
Cash flows from investing activities:    
Purchases of property and equipment (11,453) (14,796)
Purchases of short-term investments (1,213) (10,865)
Proceeds from short-term investments 1,509 0
Acquisition of business, net of cash acquired (Note 3) (56,706) 0
Purchases of non-marketable securities (6,909) (1,906)
Other investing activities, net 936 (7,943)
Net cash used in investing activities (73,836) (35,510)
Cash flows from financing activities:    
Proceeds from issuance of stock under the employee incentive programs 32,476 25,631
Payments of withholding taxes related to net share settlements of restricted stock units (30,600) (25,691)
Proceeds from debt 0 173
Repayment of debt (1,124) (1,964)
Repurchase of common stock (335,070) (49,947)
Payment of contingent consideration for previously acquired business (4,750) (8,684)
Purchase of subsidiary shares from noncontrolling interest 0 (1,972)
Other financing activities, net 907 (377)
Net cash used in financing activities (338,161) (62,831)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (26,447) 17,096
Net (decrease)/increase in cash, cash equivalents and restricted cash (251,497) 95,141
Cash, cash equivalents and restricted cash, beginning of period 2,043,108 1,683,636
Cash, cash equivalents and restricted cash, end of period $ 1,791,611 $ 1,778,777