XML 27 R8.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows - operating activities      
Net income $ 54,410 $ 79,486 $ 72,572
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 18,508 10,603 19,560
Deferred income taxes 11,900 7,088 (7,481)
Stock-based compensation expense 10,830 16,689 12,760
Accretion expense related to earnout payments 1,554 820 486
Impairment charges 7,246 0 0
Loss (gain) on marketable securities (2,918) (2,406) (1)
Loss on disposal of property and equipment 209 392 135
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable 6,913 4,522 (36,819)
Accounts payable (131) (5,731) (332)
Accrued expenses (145,118) 32,892 230,177
Restructuring accrual 0 0 (5,061)
Deferred revenue 2,035 (7,237) 12,783
Income taxes recoverable (payable), net (6,692) (13,606) 11,377
Retirement and pension plan assets and liabilities 7,493 (479) 1,145
Prepaid expenses 1,233 (2,850) (2,776)
Other assets and liabilities, net 5,736 (895) (37,124)
Net cash provided by (used in) operating activities (26,792) 119,288 271,401
Cash flows - investing activities      
Acquisition of businesses, net of cash acquired (49,858) 0 (33,518)
Capital expenditures (13,433) (11,134) (6,240)
Purchases of available for sale investments (140,982) (269,824) (2,323)
Proceeds from sale of available for sale investments 337,872 1,359 20,822
Net cash provided by (used in) investing activities 133,599 (279,599) (21,259)
Cash flows - financing activities      
Cash dividends paid (12,537) (12,466) (12,377)
Payment of employee tax withholding on equity transactions (4,141) (3,219) (3,140)
Repurchases of common stock (904) 0 0
Acquisition earnout payments (35,946) 0 0
Net cash used in financing activities (53,528) (15,685) (15,517)
Effect of exchange rates fluctuations on cash, cash equivalents and restricted cash 3,850 (13,774) (5,855)
Net increase (decrease) in cash, cash equivalents and restricted cash 57,129 (189,770) 228,770
Cash, cash equivalents and restricted cash at beginning of period 355,489 545,259 316,489
Cash, cash equivalents and restricted cash at end of period 412,618 355,489 545,259
Cash paid for      
Income taxes $ 22,137 $ 41,910 $ 28,623