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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 128,421 $ 131,512
Adjustments to reconcile net income to net cash used in operating activities:    
Deferred income taxes (2,633) (14,088)
Provision for bad debts, net 4,058 6,103
Unrealized losses on investment securities 142 2,140
Non-cash lease expense 16,691 14,554
Depreciation and amortization 13,618 38,618
Contingent consideration valuation (816) 2,869
Compensation expense – equity and liability classified share awards (Note 14) 82,149 82,006
Changes in operating assets and liabilities:    
Accounts receivable 26,569 5,388
Unbilled work in progress (19,582) (53,837)
Other assets 8,697 (13,025)
Accrued salaries and bonuses (211,229) (264,724)
Accounts payable and accrued expenses and other (36,234) (79,174)
Deferred income (3,325) 6,729
Income taxes payable (4,274) (57,988)
Net cash provided by/(used) in operating activities 2,252 (192,917)
Cash flows from investing activities:    
Purchases of investment securities (35) (11,263)
Sales or maturities of investment securities 5,988 82,524
Purchase of property and equipment, net (38,927) (17,796)
Net cash provided by/(used in) investing activities (32,974) 53,465
Cash flows from financing activities:    
Dividends paid (77,390) (73,812)
Share repurchases (24,952) (48,905)
Payments to settle employee tax obligations on share-based awards (70,025) (42,191)
Earnouts paid (7,053) (2,078)
Loans payable to former shareholders redeemed 0 (33)
Repayments of loans to non-affiliates 0 (2,488)
Other financing activities 587 570
Net cash used in financing activities (178,833) (168,937)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash (10,955) (21,502)
Net decrease in cash, cash equivalents, and restricted cash (220,510) (329,891)
Cash, cash equivalents, and restricted cash – beginning of period 714,812 834,070
Cash, cash equivalents, and restricted cash – end of period 494,302 504,179
Supplemental disclosures of non-cash activities:    
Shares issued via vesting of liability classified awards 5,114 5,955
Cash paid during the period:    
Interest 200 1,861
Taxes, net of refunds 48,410 102,418
Regulatory fines and penalties $ 15,000 $ 0