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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities    
Net income $ 163,912 $ 109,942
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 21,173 19,547
Amortization of intangible assets 2,096 3,599
Provision for expected credit losses 19,923 11,188
Share-based compensation 18,101 13,903
Deferred income taxes (6,840) (6,571)
Acquisition-related contingent consideration (1,157) 3,543
Amortization of debt issuance costs and other 387 1,296
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable, billed and unbilled (115,106) (245,999)
Notes receivable (45,197) (22,539)
Prepaid expenses and other assets (12,630) (6,718)
Accounts payable, accrued expenses and other (8,934) (159)
Income taxes (29,727) (13,122)
Accrued compensation (145,509) (130,625)
Billings in excess of services provided (84) (2,485)
Net cash used in operating activities (139,592) (265,200)
Investing activities    
Purchases of property and equipment and other (14,700) (29,027)
Maturity of short-term investment 25,246 0
Net cash provided by (used in) investing activities 10,546 (29,027)
Financing activities    
Borrowings under revolving line of credit 520,000 245,000
Repayments under revolving line of credit (460,000) (220,000)
Purchase and retirement of common stock 0 (20,982)
Share-based compensation tax withholdings (14,320) (11,922)
Proceeds on stock option exercises 10,614 1,167
Deposits and other 2,023 (2,206)
Net cash provided by (used in) financing activities 58,317 (8,943)
Effect of exchange rate changes on cash and cash equivalents (6,065) 15,021
Net decrease in cash and cash equivalents (76,794) (288,149)
Cash and cash equivalents, beginning of period 303,222 491,688
Cash and cash equivalents, end of period 226,428 203,539
Supplemental cash flow disclosures    
Cash paid for interest 4,020 4,144
Cash paid for income taxes and tax credits, net of refunds 74,831 57,376
Non-cash financing activities:    
Issuance of stock units under incentive compensation plans $ 2,805 $ 2,274