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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities:    
Net income $ 131,512 $ 198,843
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes (14,088) (8,068)
Provision for bad debts, net 6,103 5,559
Unrealized losses on investment securities 2,140 575
Non-cash lease expense 14,554 10,951
Depreciation and amortization 38,618 8,515
Contingent consideration valuation 2,869 0
Compensation expense – equity and liability classified share awards (Note 14) 82,006 53,246
Changes in operating assets and liabilities:    
Accounts receivable 5,388 (24,388)
Unbilled work in progress (53,837) 2,383
Other assets (13,025) 7,732
Accrued salaries and bonuses (264,724) (69,542)
Accounts payable and accrued expenses and other (79,174) (19,434)
Deferred income 6,729 (945)
Income taxes payable (57,988) (45,309)
Net cash provided by/(used in) operating activities (192,917) 120,118
Cash flows from investing activities:    
Purchases of investment securities (11,263) (24,721)
Sales or maturities of investment securities 82,524 192,339
Acquisition of business, net of cash acquired 0 (304)
Purchase of property and equipment, net (17,796) (2,500)
Net cash provided by investing activities 53,465 164,814
Cash flows from financing activities:    
Dividends paid (73,812) (59,504)
Share repurchases (48,905) (112,946)
Payments to settle employee tax obligations on share-based awards (42,191) (33,700)
Earnouts paid (2,078) (1,723)
Loans payable to former shareholders redeemed (33) (107)
Repayments of loans to non-affiliates (2,488) 0
Other financing activities 570 478
Net cash (used in) financing activities (168,937) (207,502)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash (21,502) (1,272)
Net increase/(decrease) in cash, cash equivalents, and restricted cash (329,891) 76,158
Cash, cash equivalents, and restricted cash – beginning of period 834,070 847,224
Cash, cash equivalents, and restricted cash – end of period 504,179 923,382
Supplemental disclosures of non-cash activities:    
Shares issued via vesting of liability classified awards 5,955 4,270
Fully amortized intangibles written off 0 2,000
Cash acquired through acquisitions 0 15,285
Cash paid during the period:    
Interest 1,861 454
Taxes, net of refunds $ 102,418 $ 118,685