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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:      
Net income $ 326,787 $ 174,780 $ 93,192
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, and impairment 71,861 71,537 52,793
Deferred income taxes (198,878) (5,126) (19,745)
Stock-based compensation expense 72,972 75,206 49,045
Deferred compensation plan 13,580 (15,782) 95,046
Amortization and write-off of deferred debt issuance costs 7,291 7,291 5,955
Change in fair value of derivative 5,038 (27,083) (9,770)
Foreign currency remeasurement (gain) loss (452) 6,000 64
Other 21,047 2,593 5,338
Changes in assets and liabilities, net of effect from acquisitions:      
Accounts receivable (5,180) (60,938) (35,519)
Prepaid and other assets 4,112 14,053 14,260
Accounts payable, accruals, and other liabilities 68,733 29,181 47,957
Deferred revenues 19,933 2,292 5,340
Income taxes payable, net of prepaid income taxes 9,852 320 (15,932)
Net cash provided by operating activities 416,696 274,324 288,024
Cash flows from investing activities:      
Purchases of property and equipment and investment in capitalized software (25,002) (18,546) (17,539)
Proceeds from sale of aircraft 0 2,380 0
Acquisitions, net of cash acquired (26,023) (743,007) (1,034,983)
Purchases of investments (11,602) (10,954) (4,081)
Proceeds from investments 2,123 0 0
Net cash used in investing activities (60,504) (770,127) (1,056,603)
Cash flows from financing activities:      
Proceeds from credit facilities 588,154 833,292 745,310
Payments of credit facilities (841,723) (487,694) (991,310)
Proceeds from convertible senior notes, net of discounts and commissions 0 0 1,233,377
Payments of debt issuance costs 0 0 (5,643)
Purchase of capped call options 0 0 (51,605)
Settlement of convertible senior notes 0 (1,998) 0
Proceeds from term loan 0 0 199,505
Repayments of term loan (5,000) (5,000) 0
Payments of contingent and non-contingent consideration (4,324) (8,460) (2,371)
Payments of dividends (58,756) (34,493) (33,396)
Proceeds from stock purchases under employee stock purchase plan 9,988 10,335 3,846
Proceeds from exercise of stock options 11,715 8,338 5,605
Payments for shares acquired including shares withheld for taxes (58,937) (43,561) (120,539)
Repurchases of Class B common stock under approved program 0 (28,250) 0
Other (191) 525 (197)
Net cash (used in) provided by financing activities (359,074) 243,034 982,582
Effect of exchange rate changes on cash and cash equivalents (390) (4,884) (6,672)
(Decrease) increase in cash and cash equivalents (3,272) (257,653) 207,331
Cash and cash equivalents, beginning of year 71,684 329,337 122,006
Cash and cash equivalents, end of year 68,412 71,684 329,337
Supplemental information:      
Cash paid for income taxes 43,619 29,478 40,203
Income tax refunds 1,188 3,588 9,372
Interest paid 37,389 26,581 4,631
Non-cash investing and financing activities:      
Cost method investment 3,500 5,936 0
Shares issued related to acquisition 0 0 182,390
Contingent acquisition consideration 0 1,390 4,544
Deferred, non-contingent consideration, net 525 749 10,090
Term loan expenses included in Accruals and other current liabilities 0 0 45
Share-settled Bonus Plan awards 16,791 21,925 20,953
DCP elective participant deferrals $ 1,765 $ 6,580 $ 2,619