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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities      
Net income $ 482,603 $ 418,529 $ 301,692
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 81,081 68,575 64,756
Noncash lease expense 55,096 0 0
Stock-based compensation expense 43,290 31,275 23,318
Deferred income taxes 65,434 23,006 8,956
Amortization of debt issuance costs and loss on extinguishment 6,139 9,354 5,974
Losses (gains) on dispositions 1,772 (5,464) (246)
Changes in assets and liabilities:      
Accounts receivable, net of allowance (129,107) (196,453) (126,196)
Income taxes receivable / payable (122,977) 21,634 (4,821)
Prepaid expenses and other current assets (13,500) (2,328) 14,119
Other long-term assets (6) (15,346) (12,394)
Accrued compensation and benefits 18,044 44,137 11,296
Accounts payable and other accrued expenses 48,260 107,644 53,527
Income tax reserves 44,621 (278) 140
Other current liabilities 5,016 (7,885) 4,762
Operating lease liabilities (37,651) 0 0
Other long-term liabilities 3,313 3,210 24,260
Net cash provided by operating activities 551,428 499,610 369,143
Cash flows from investing activities      
Purchases of property, equipment, and software (128,079) (94,681) (78,437)
Payments for businesses acquired, net of proceeds from sales of business 0 5,469 (19,113)
Insurance proceeds received for damage to equipment 0 0 1,097
Net cash used in investing activities (128,079) (89,212) (96,453)
Cash flows from financing activities      
Proceeds from issuance of common stock 14,987 11,266 8,907
Stock option exercises 8,925 12,116 12,095
Repurchases of common stock (182,224) (252,824) (270,318)
Cash dividends paid (146,602) (114,234) (103,411)
Repayment of debt (76,922) (170,512) (317,149)
Proceeds from debt issuance 497,891 102,071 467,678
Payment of deferred payment obligation (80,000) 0 0
Other financing activities (1,493) (1,249) (951)
Net cash provided by (used in) financing activities 34,562 (413,366) (203,149)
Net increase (decrease) in cash and cash equivalents 457,911 (2,968) 69,541
Cash and cash equivalents––beginning of year 283,990 286,958 217,417
Cash and cash equivalents––end of year 741,901 283,990 286,958
Supplemental disclosures of cash flow information      
Interest 84,125 76,731 62,498
Income taxes 109,754 52,512 128,416
Supplemental disclosures of non-cash investing and financing activities      
Share repurchases transacted but not settled and paid 10,736 6,315 9,146
Noncash financing activities $ 3,920 $ 3,033 $ 0