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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 91,338 $ 70,310
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 15,640 16,385
Deferred income taxes (1,216) 5,302
Stock-based compensation expense 17,402 19,658
Deferred compensation plan (1,246) 5,799
Amortization of deferred debt issuance costs 1,894 1,823
Change in fair value of derivative 4,372 (2,790)
Foreign currency remeasurement gain (25) (1,744)
Other 175 1,099
Changes in assets and liabilities, net of effect from acquisitions:    
Accounts receivable 14,346 14,508
Prepaid and other assets 2,942 (5,321)
Accounts payable, accruals, and other liabilities (8,356) (874)
Cloud Services Subscription deposits 74,489 85,945
Deferred revenues (6,538) (9,257)
Income taxes payable, net of prepaid income taxes 14,198 4,126
Net cash provided by operating activities 219,415 204,969
Cash flows from investing activities:    
Purchases of property and equipment and investment in capitalized software (3,044) (3,599)
Purchases of investments 0 (250)
Net cash used in investing activities (3,044) (3,849)
Cash flows from financing activities:    
Proceeds from credit facilities 122,249 39,838
Payments of credit facilities (257,565) (131,866)
Repurchase of convertible senior notes (9,797) 0
Repayments of term loan 0 (2,500)
Payments of contingent and non-contingent consideration (310) (451)
Payments of dividends (21,198) (17,871)
Proceeds from stock purchases under employee stock purchase plan 5,312 5,560
Proceeds from exercise of stock options 0 4,007
Payments for shares acquired including shares withheld for taxes (9,436) (8,099)
Repurchases of Class B common stock under approved program (30,014) (15,006)
Other (49) (47)
Net cash used in financing activities (200,808) (126,435)
Effect of exchange rate changes on cash and cash equivalents 4,065 (1,496)
Increase in cash and cash equivalents 19,628 73,189
Cash and cash equivalents, beginning of period 64,009 68,412
Cash and cash equivalents, end of period 83,637 141,601
Supplemental information:    
Cash paid for income taxes 8,433 11,722
Income tax refunds 470 179
Interest paid 2,150 5,257
Non-cash investing and financing activities:    
Share-settled executive bonus plan awards 1,062 3,351
Deferred compensation plan elective participant deferrals $ 0 $ 58