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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows - operating activities:    
Net income (in US dollars) $ 111,473 $ 73,386
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 12,621 11,578
Amortization of identifiable intangible assets 15,877 15,551
Non-cash share-based compensation expense 4,087 3,438
Other reconciling items 162 (226)
Changes in operating assets and liabilities, excluding the effect of businesses acquired (228,803) (199,541)
Net cash used in operating activities (84,583) (95,814)
Cash flows - investing activities:    
Payments for acquisitions of businesses, net of cash acquired (11,834) (2,914)
Proceeds from sale or disposal of property, plant and equipment 9,583 462
Purchases of property, plant and equipment (23,154) (11,501)
Net cash used in investing activities (25,405) (13,953)
Cash flows - financing activities:    
Proceeds from revolving credit facility 100,000 0
Repayments of finance lease liabilities (780) (979)
Dividends paid to stockholders (7,151) (6,930)
Repurchases of common stock (16,033) (181,810)
Taxes paid related to net share settlements of equity awards (5,242) (4,944)
Issuances of common stock under employee stock purchase plan 2,168 1,955
Payments for contingent consideration arrangements (1,456) (805)
Net cash provided by (used in) financing activities 71,506 (193,513)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 2,239 (3,419)
Decrease in cash, cash equivalents, and restricted cash (36,243) (306,699)
Cash, cash equivalents, and restricted cash at beginning of year (1) [1] 457,068 822,568
Cash, cash equivalents, and restricted cash at end of period (2) [2] $ 420,825 $ 515,869
[1] Includes $0.6 million and $1.2 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of December 31, 2022 and 2021, respectively.
[2] Includes $0.8 million and $1.4 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of March 31, 2023 and 2022, respectively.