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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 70,310 $ 45,490
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 16,385 18,057
Deferred income taxes 5,302 (4,178)
Stock-based compensation expense 19,658 19,484
Deferred compensation plan 5,799 4,146
Amortization of deferred debt issuance costs 1,823 1,823
Change in fair value of derivative (2,790) 4,489
Foreign currency remeasurement (gain) loss (1,744) 1,018
Other 1,099 (4,411)
Changes in assets and liabilities, net of effect from acquisitions:    
Accounts receivable 14,508 15,420
Prepaid and other assets (5,321) 12,137
Accounts payable, accruals, and other liabilities 85,071 53,127
Deferred revenues (9,257) 1,942
Income taxes payable, net of prepaid income taxes 4,126 7,679
Net cash provided by operating activities 204,969 176,223
Cash flows from investing activities:    
Purchases of property and equipment and investment in capitalized software (3,599) (4,284)
Acquisitions, net of cash acquired 0 (10,299)
Purchases of investments (250) (6,178)
Net cash used in investing activities (3,849) (20,761)
Cash flows from financing activities:    
Proceeds from credit facilities 39,838 117,139
Payments of credit facilities (131,866) (223,124)
Repayments of term loan (2,500) (1,250)
Payments of contingent and non-contingent consideration (451) (249)
Payments of dividends (17,871) (14,522)
Proceeds from stock purchases under employee stock purchase plan 5,560 4,557
Proceeds from exercise of stock options 4,007 4,202
Payments for shares acquired including shares withheld for taxes (8,099) (20,948)
Repurchases of Class B common stock under approved program (15,006) 0
Other (47) (46)
Net cash used in financing activities (126,435) (134,241)
Effect of exchange rate changes on cash and cash equivalents (1,496) 662
Increase in cash and cash equivalents 73,189 21,883
Cash and cash equivalents, beginning of year 68,412 71,684
Cash and cash equivalents, end of period 141,601 93,567
Supplemental information:    
Cash paid for income taxes 11,722 6,104
Income tax refunds 179 71
Interest paid 5,257 10,473
Non-cash investing and financing activities:    
Cost method investment 0 3,500
Deferred, non-contingent consideration, net 0 525
Share-settled executive bonus plan awards 3,351 5,484
Deferred compensation plan elective participant deferrals $ 58 $ 1,533