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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 16,387 $ 30,063
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 34,441 19,432
Amortization of debt issue costs and accretion of discount 1,874 396
Operating lease amortization 1,810 1,626
Unrealized gain on change in fair value of equity securities (2,325) 0
Deferred tax benefit (5,720) (2,208)
Share-based compensation 7,349 5,557
Earnings of equity method investment (1,071) (1,155)
Loss on foreign currency remeasurement 4,456 4,864
Other, net 797 2,530
Decrease (increase) in assets:    
Accounts receivable, net (14,756) 10,044
Prepaid expenses and other assets 130 (5,388)
Other long-term assets (1,484) (261)
(Decrease) increase in liabilities:    
Accrued liabilities and accounts payable (11,031) (13,417)
Income tax payable (3,347) (639)
Contract liability 8,721 3,089
Operating lease liabilities (4) 310
Other long-term liabilities (252) (332)
Total adjustments 19,588 24,448
Net cash provided by operating activities 35,975 54,511
Cash flows from investing activities    
Additions to software (16,494) (9,257)
Property and equipment acquired (5,389) (4,063)
Purchase of equity securities (111) 0
Acquisitions, net of cash acquired 0 (23,317)
Net cash used in investing activities (21,994) (36,637)
Cash flows from financing activities    
Withholding taxes paid on share-based compensation (9,756) (5,874)
Net increase (decrease) in short-term borrowings 80,000 (20,000)
Dividends paid to noncontrolling interest holders (1,142) 0
Dividends paid (3,273) (3,249)
Repurchase of common stock (70,000) (6,269)
Repayment of long-term debt (5,967) (5,187)
Repayment of other financing agreement (6,212) 0
Net cash used in financing activities (16,350) (40,579)
Effect of foreign exchange rate on cash, cash equivalents and restricted cash (3,768) (275)
Net decrease in cash, cash equivalents and restricted cash (6,137) (22,980)
Cash, cash equivalents, restricted cash and cash included in settlement assets at beginning of the period 343,724 215,657
Cash, cash equivalents, restricted cash, and cash included in settlement assets at end of the period $ 337,587 $ 192,677