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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Cash flows from operating activities:    
Net income $ 194,563 $ 373,151
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes (10,985) (13,341)
Provision for bad debts, net 11,676 4,626
Unrealized losses on investment securities 4,264 2,464
Non-cash lease expense 17,988 24,179
Depreciation and amortization 51,874 28,589
Contingent consideration valuation 2,869 60
Compensation expense – equity and liability classified share awards (Note 14) 122,766 72,398
Changes in operating assets and liabilities:    
Accounts receivable (234) (38,663)
Unbilled work in progress (52,742) 36,283
Other assets (17,896) 7,751
Accrued salaries and bonuses (312,888) 185,065
Accounts payable and accrued expenses and other (49,109) 8,231
Deferred income 11,823 (627)
Income taxes payable (75,844) (18,031)
Net cash provided by/(used in) operating activities (101,875) 672,135
Cash flows from investing activities:    
Purchases of investment securities (14,496) (28,087)
Sales or maturities of investment securities 82,600 194,926
Acquisition of business, net of cash acquired 0 (305,637)
Purchase of property and equipment, net (31,646) (7,554)
Net cash provided by/(used in) investing activities 36,458 (146,352)
Cash flows from financing activities:    
Dividends paid (108,043) (87,359)
Share repurchases (49,091) (183,197)
Payments to settle employee tax obligations on share-based awards (42,283) (33,700)
Earnouts paid (6,272) (5,917)
Loans payable to former shareholders redeemed (232) (280)
Repayments of loans to non-affiliates (2,488) 0
Other financing activities 570 477
Net cash (used in) financing activities (207,839) (309,976)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash (11,019) (4,055)
Net increase/(decrease) in cash, cash equivalents, and restricted cash (284,275) 211,752
Cash, cash equivalents, and restricted cash – beginning of period 834,070 847,224
Cash, cash equivalents, and restricted cash – end of period 549,795 1,058,976
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 0 241,835
Cash paid during the period:    
Interest 3,261 528
Taxes, net of refunds $ 135,919 $ 171,229