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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows - operating activities      
Net income $ 8,728 $ 54,410 $ 79,486
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Depreciation and amortization 18,857 18,508 10,603
Deferred income taxes (19,421) 11,900 7,088
Stock-based compensation expense 12,725 10,830 16,689
Accretion expense related to earnout payments 1,926 1,554 820
Impairment charges 59,478 7,246 0
Gain on marketable securities (2,663) (2,918) (2,406)
Loss on disposal of property and equipment 454 209 392
Changes in assets and liabilities, net of effects of acquisitions:      
Accounts receivable (4,520) 6,913 4,522
Accounts payable 4,625 (131) (5,731)
Accrued expenses 47,031 (145,118) 32,892
Restructuring accrual 2,506 0 0
Deferred revenue 6,272 2,035 (7,237)
Income taxes recoverable (payable), net 12,326 (6,692) (13,606)
Retirement and pension plan assets and liabilities 6,021 7,493 (479)
Prepaid expenses (5,536) 1,233 (2,850)
Other assets and liabilities, net 1,622 5,736 (895)
Net cash provided by (used in) operating activities 150,431 (26,792) 119,288
Cash flows - investing activities      
Acquisition of businesses, net of cash acquired 0 (49,858) 0
Capital expenditures (26,315) (13,433) (11,134)
Purchases of available for sale investments (163,611) (140,982) (269,824)
Proceeds from sale of available for sale investments 175,307 337,872 1,359
Net cash provided by (used in) investing activities (14,619) 133,599 (279,599)
Cash flows - financing activities      
Cash dividends paid (12,923) (12,537) (12,466)
Payment of employee tax withholding on equity transactions (3,817) (4,141) (3,219)
Repurchases of common stock 0 (904) 0
Acquisition earnout payments 0 (35,946) 0
Net cash used in financing activities (16,740) (53,528) (15,685)
Effect of exchange rates fluctuations on cash, cash equivalents and restricted cash (15,877) 3,850 (13,774)
Net increase (decrease) in cash, cash equivalents and restricted cash 103,195 57,129 (189,770)
Cash, cash equivalents and restricted cash at beginning of period 412,618 355,489 545,259
Cash, cash equivalents and restricted cash at end of period 515,813 412,618 355,489
Cash paid for      
Income taxes $ 26,125 $ 22,137 $ 41,910