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Condensed Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows - operating activities:    
Net income (in US dollars) $ 197,149 $ 111,473
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 13,337 12,621
Amortization of identifiable intangible assets 16,251 15,877
Provision for (recovery of) credit losses 9,898 (343)
Non-cash share-based compensation expense 6,527 4,087
Other reconciling items (2,829) 505
Changes in operating assets and liabilities, excluding the effect of businesses acquired (108,069) (228,803)
Net cash provided by (used in) operating activities 132,264 (84,583)
Cash flows - investing activities:    
Payments for acquisitions of businesses, net of cash acquired (100) (11,834)
Proceeds from sale or disposal of property, plant, and equipment 939 9,583
Purchases of property, plant, and equipment (20,278) (23,154)
Net cash used in investing activities (19,439) (25,405)
Cash flows - financing activities:    
Proceeds from revolving credit facility 0 100,000
Repayments of finance lease liabilities (773) (780)
Dividends paid to stockholders (8,470) (7,151)
Repurchases of common stock (39,000) (16,033)
Taxes paid related to net share settlements of equity awards (11,648) (5,242)
Issuances of common stock under employee stock purchase plan 943 2,168
Payments for contingent consideration arrangements 0 (1,456)
Net cash (used in) provided by financing activities (58,948) 71,506
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,140) 2,239
Increase (decrease) in cash, cash equivalents, and restricted cash 52,737 (36,243)
Cash, cash equivalents, and restricted cash at beginning of year (1) [1] 789,750 457,068
Cash, cash equivalents, and restricted cash at end of period (2) [2] $ 842,487 $ 420,825
[1] Includes $0.6 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of December 31, 2022.
[2] Includes $1.5 million and $0.8 million of restricted cash classified as “Prepaid expenses and other” in the Consolidated Balance Sheets as of March 31, 2024 and 2023, respectively.