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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Operating Activities:        
Net earnings $ 316,974 $ 184,188 $ 604,924 $ 306,970
Adjustments to reconcile net earnings to net cash from operating activities:        
Provisions for losses on accounts receivable 1,090 2,389 2,289 4,209
Deferred income tax expense 1,850 9,287 10,001 4,148
Stock compensation expense 30,909 21,638 42,094 32,794
Depreciation and amortization 12,675 14,109 25,662 26,769
Other, net 346 118 897 551
Changes in operating assets and liabilities:        
Increase in accounts receivable (410,783) (185,055) (663,697) (168,375)
Increase in accounts payable and accrued expenses 100,118 106,760 333,271 107,677
Increase in deferred contract costs (150,382) (2,333) (221,640) (18,401)
Increase (decrease) in contract liabilities 174,504 (595) 254,094 20,606
(Decrease) increase in income taxes payable, net (47,994) 20,154 (1,356) 30,642
Decrease (increase) in other, net 1,164 16,061 (324) 4,131
Net cash from operating activities 30,471 186,721 386,215 351,721
Investing Activities:        
Purchase of property and equipment (6,539) (22,114) (14,930) (28,241)
Other, net 138 (68) 104 (211)
Net cash from investing activities (6,401) (22,182) (14,826) (28,452)
Financing Activities:        
Proceeds from issuance of common stock 22,711 29,187 42,468 52,586
Repurchases of common stock (62,472) (30,985) (148,469) (314,225)
Dividends paid (98,387) (86,815) (98,387) (86,815)
Payments for taxes related to net share settlement of equity awards (13,893) (9,170) (15,168) (10,566)
Net cash from financing activities (152,041) (97,783) (219,556) (359,020)
Effect of exchange rate changes on cash and cash equivalents 8,699 1,726 (5,503) (14,285)
Change in cash and cash equivalents (119,272) 68,482 146,330 (50,036)
Cash and cash equivalents at beginning of period 1,793,393 1,111,973 1,527,791 1,230,491
Cash and cash equivalents at end of period 1,674,121 1,180,455 1,674,121 1,180,455
Taxes Paid:        
Income taxes $ 143,959 $ 38,504 $ 190,536 $ 73,808