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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities    
Net income $ 79,965 $ 47,547
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 10,424 9,443
Amortization of intangible assets 1,016 2,182
Provision for expected credit losses 11,420 7,012
Share-based compensation 8,812 6,365
Deferred income taxes (8,107) (3,016)
Acquisition-related contingent consideration 660 1,284
Amortization of debt issuance costs and other 236 646
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable, billed and unbilled (73,201) (93,739)
Notes receivable (35,937) (6,851)
Prepaid expenses and other assets (5,612) 321
Accounts payable, accrued expenses and other 4,317 1,315
Income taxes 1,691 5,658
Accrued compensation (271,044) (230,967)
Billings in excess of services provided 542 (1,406)
Net cash used in operating activities (274,818) (254,206)
Investing activities    
Purchases of property and equipment and other (4,640) (18,012)
Maturity of short-term investment 25,246 0
Net cash provided by (used in) investing activities 20,606 (18,012)
Financing activities    
Borrowings under revolving line of credit 280,000 90,000
Repayments under revolving line of credit (75,000) (45,000)
Purchase and retirement of common stock 0 (20,982)
Share-based tax withholdings net of option exercises (8,712) (9,064)
Deposits and other 2,297 813
Net cash provided by financing activities 198,585 15,767
Effect of exchange rate changes on cash and cash equivalents (3,635) 3,302
Net decrease in cash and cash equivalents (59,262) (253,149)
Cash and cash equivalents, beginning of period 303,222 491,688
Cash and cash equivalents, end of period 243,960 238,539
Supplemental cash flow disclosures    
Cash paid for interest 765 3,625
Cash paid for income taxes and tax credits, net of refunds 25,943 12,331
Non-cash investing and financing activities:    
Issuance of stock units under incentive compensation plans $ 2,805 $ 2,274