XML 24 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities:      
Net income (loss) $ 234,433 $ 326,787 $ 174,780
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization, and impairment 64,608 71,861 71,537
Deferred income taxes 12,571 (198,878) (5,126)
Stock-based compensation expense 74,417 72,972 75,206
Deferred compensation plan 12,382 13,580 (15,782)
Amortization of deferred debt issuance costs 7,338 7,291 7,291
Change in fair value of derivative (10) 5,038 (27,083)
Foreign currency remeasurement (gain) loss (785) (452) 6,000
Other 7,794 21,047 2,593
Changes in assets and liabilities, net of effect from acquisitions:      
Accounts receivable (32,064) (5,180) (60,938)
Prepaid and other assets (6,006) 4,112 14,053
Accounts payable, accruals, and other liabilities 74,953 68,733 29,181
Deferred revenues (1,789) 19,933 2,292
Income taxes payable, net of prepaid income taxes (12,550) 9,852 320
Net cash provided by operating activities 435,292 416,696 274,324
Cash flows from investing activities:      
Purchases of property and equipment and investment in capitalized software (14,046) (25,002) (18,546)
Proceeds from sale of aircraft 0 0 2,380
Acquisitions, net of cash acquired (130,407) (26,023) (743,007)
Purchases of investments (1,435) (11,602) (10,954)
Proceeds from investments 0 2,123 0
Other 2,621 0 0
Net cash used in investing activities (143,267) (60,504) (770,127)
Cash flows from financing activities:      
Proceeds from credit facilities 517,643 588,154 833,292
Payments of credit facilities (474,356) (841,723) (487,694)
Payments of debt issuance costs (6,184) 0 0
Settlement of convertible senior notes 0 0 (1,998)
Repayments of term loan (190,000) (5,000) (5,000)
Payments of contingent and non-contingent consideration (3,022) (4,324) (8,460)
Payments of dividends (72,115) (58,756) (34,493)
Proceeds from stock purchases under employee stock purchase plan 11,228 9,988 10,335
Proceeds from exercise of stock options 4,007 11,715 8,338
Payments for shares acquired including shares withheld for taxes (12,504) (58,937) (43,561)
Repurchases of Class B common stock under approved program (64,359) 0 (28,250)
Other (188) (191) 525
Net cash (used in) provided by financing activities (289,850) (359,074) 243,034
Effect of exchange rate changes on cash and cash equivalents (6,578) (390) (4,884)
Decrease in cash and cash equivalents (4,403) (3,272) (257,653)
Cash and cash equivalents, beginning of year 68,412 71,684 329,337
Cash and cash equivalents, end of year 64,009 68,412 71,684
Supplemental information:      
Cash paid for income taxes 59,745 43,619 29,478
Income tax refunds 2,219 1,188 3,588
Interest paid 17,202 37,389 26,581
Non-cash investing and financing activities:      
Cost method investment 0 3,500 5,936
Contingent acquisition consideration 0 0 1,390
Deferred, non-contingent consideration, net 0 525 749
Share-settled Bonus Plan awards 14,476 16,791 21,925
DCP elective participant deferrals $ 188 $ 1,765 $ 6,580