XML 74 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Operating activities      
Net income $ 150,611 $ 107,962 $ 85,520
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 31,536 31,177 38,700
Amortization and impairment of other intangible assets 8,162 10,563 10,306
Acquisition-related contingent consideration 479 2,291 2,164
Provision for doubtful accounts 17,872 15,386 8,912
Non-cash share-based compensation 15,577 16,030 16,920
Amortization of debt discount and issuance costs 5,456 1,984 1,985
Gain on sale of business 9,072 0 0
Gain on sale of business (13,031) 0 0
Other 769 611 (1,204)
Changes in operating assets and liabilities, net of effects from acquisitions:      
Accounts receivable, billed and unbilled (72,034) (50,831) 3,471
Notes receivable 8,987 14,928 3,145
Prepaid expenses and other assets (2,258) 629 (2,840)
Accounts payable, accrued expenses and other 8,908 4,421 3,268
Income taxes 11,941 (25,768) 22,012
Accrued compensation 52,510 1,795 40,350
Billings in excess of services provided (3,885) 16,447 779
Net cash provided by operating activities 230,672 147,625 233,488
Investing activities      
Proceeds from sale of business 50,283 0 0
Payments for acquisition of businesses, net of cash received 0 (8,929) (1,251)
Purchases of property and equipment (32,270) (32,004) (28,935)
Other 731 295 54
Net cash provided by (used in) investing activities 18,744 (40,638) (30,132)
Financing activities      
Borrowings (repayments) under revolving line of credit, net (100,000) 30,000 (130,000)
Proceeds from issuance of convertible notes 316,250 0 0
Payments of long-term debt (300,000) 0 0
Payments of debt issue and debt prepayment costs (16,149) 0 0
Purchase and retirement of common stock (55,738) (168,094) (21,489)
Net issuance of common stock under equity compensation plans 38,475 (504) 21,708
Payments for acquisition-related contingent consideration (3,029) (5,161) (866)
Deposits and other 2,672 2,825 5,337
Net cash used in financing activities (117,519) (140,934) (125,310)
Effect of exchange rate changes on cash and cash equivalents (9,789) 7,750 (11,648)
Net increase (decrease) in cash and cash equivalents 122,108 (26,197) 66,398
Cash and cash equivalents, beginning of period 189,961 216,158 149,760
Cash and cash equivalents, end of period 312,069 189,961 216,158
Supplemental cash flow disclosures      
Cash paid for interest 21,687 23,285 23,154
Cash paid for income taxes, net of refunds 45,568 4,929 20,270
Non-cash investing and financing activities:      
Issuance of stock units under incentive compensation plans 1,059 1,547 1,842
Acquisition-related contingent liability $ 0 $ 3,426 $ 0