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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 142,356 $ 94,175
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 32,367 35,304
Deferred income taxes 8,666 (28,935)
Stock-based compensation expense 41,759 37,588
Deferred compensation plan 6,682 7,923
Amortization of deferred debt issuance costs 3,750 3,646
Change in fair value of derivative (2,361) 663
Foreign currency remeasurement loss (gain) 502 (144)
Other (1,715) 3,530
Changes in assets and liabilities, net of effect from acquisitions:    
Accounts receivable 14,330 49,171
Prepaid and other assets (585) (364)
Accounts payable, accruals, and other liabilities 41,622 41,969
Deferred revenues (14,888) (1,792)
Income taxes payable, net of prepaid income taxes (4,930) 14,085
Net cash provided by operating activities 267,555 256,819
Cash flows from investing activities:    
Purchases of property and equipment and investment in capitalized software (6,689) (11,253)
Acquisitions, net of cash acquired (5,000) (10,299)
Purchases of investments (557) (8,200)
Other 1,300 0
Net cash used in investing activities (10,946) (29,752)
Cash flows from financing activities:    
Proceeds from credit facilities 51,724 288,387
Payments of credit facilities (143,752) (432,739)
Repayments of term loan (105,000) (2,500)
Payments of contingent and non-contingent consideration (451) (2,860)
Payments of dividends (35,851) (29,224)
Proceeds from stock purchases under employee stock purchase plan 5,560 4,557
Proceeds from exercise of stock options 4,007 9,700
Payments for shares acquired including shares withheld for taxes (9,626) (51,202)
Repurchases of Class B common stock under approved program (37,515) 0
Other (95) (95)
Net cash used in financing activities (270,999) (215,976)
Effect of exchange rate changes on cash and cash equivalents (2,744) (59)
(Decrease) increase in cash and cash equivalents (17,134) 11,032
Cash and cash equivalents, beginning of year 68,412 71,684
Cash and cash equivalents, end of period 51,278 82,716
Supplemental information:    
Cash paid for income taxes 23,472 18,167
Income tax refunds 625 168
Interest paid 8,706 19,382
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 8,916 9,806
Deferred compensation plan elective participant deferrals $ 101 $ 1,651