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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 88,940 $ 61,390
Adjustments to reconcile net income to net cash used in operating activities:    
Deferred income taxes 8,989 (4,735)
Provision for bad debts, net 2,436 2,076
Unrealized losses on investment securities (152) 156
Non-cash lease expense 9,380 7,695
Depreciation and amortization 8,856 6,532
Contingent consideration valuation 804 0
Compensation expense – equity and liability classified share awards (Note 14) 33,071 39,409
Changes in operating assets and liabilities:    
Accounts receivable 15,552 42,358
Unbilled work in progress 36,073 10,178
Other assets (7,624) 5,785
Accrued salaries and bonuses (234,141) (289,298)
Accounts payable and accrued expenses and other (14,902) (15,899)
Deferred income 3,507 (1,253)
Income taxes payable (15,300) 2,038
Net cash used in operating activities (64,511) (133,568)
Cash flows from investing activities:    
Purchases of investment securities (1,486) (35)
Sales or maturities of investment securities 4,021 3,328
Acquisition of business, net of cash acquired (32,095) 0
Purchase of property and equipment, net (10,872) (15,654)
Net cash used in investing activities (40,432) (12,361)
Cash flows from financing activities:    
Dividends paid (51,270) (41,971)
Share repurchases (240) 0
Payments to settle employee tax obligations on share-based awards (100,993) (69,766)
Earnouts paid (9,706) 0
Other financing activities 710 587
Net cash used in financing activities (161,499) (111,150)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash (5,096) (1,244)
Net decrease in cash, cash equivalents, and restricted cash (271,538) (258,323)
Cash, cash equivalents, and restricted cash – beginning of period 721,854 714,812
Cash, cash equivalents, and restricted cash – end of period 450,316 456,489
Supplemental disclosures of non-cash activities:    
Shares issued via vesting of liability classified awards 5,953 5,176
Shares issued as consideration for acquisition 12,489 0
Cash acquired through acquisitions 2,170 0
Cash paid during the period:    
Interest 301 105
Taxes, net of refunds $ 17,216 $ 17,660