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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 182,489 $ 128,421
Adjustments to reconcile net income to net cash used in operating activities:    
Deferred income taxes 4,699 (2,633)
Provision for bad debts, net 5,234 4,058
Unrealized (gains)/losses on investment securities (939) 142
Non-cash lease expense 15,222 16,691
Depreciation and amortization 16,300 13,618
Contingent consideration valuation 804 (816)
Compensation expense – equity and liability classified share awards (Note 14) 78,396 82,149
Changes in operating assets and liabilities:    
Accounts receivable (15,106) 26,569
Unbilled work in progress 55,786 (19,582)
Other assets (21,743) 8,697
Accrued salaries and bonuses (84,213) (211,229)
Accounts payable and accrued expenses and other (28,619) (36,234)
Deferred income 4,817 (3,325)
Income taxes receivable 11,584 (4,274)
Net cash provided by operating activities 224,711 2,252
Cash flows from investing activities:    
Purchases of investment securities (23,496) (35)
Sales or maturities of investment securities 5,611 5,988
Acquisition of business, net of cash acquired (32,058) 0
Purchase of property and equipment, net (21,368) (38,927)
Net cash used in investing activities (71,311) (32,974)
Cash flows from financing activities:    
Dividends paid (89,674) (77,390)
Share repurchases (240) (24,952)
Payments to settle employee tax obligations on share-based awards (101,716) (70,025)
Earnouts paid (9,706) (7,053)
Other financing activities 710 587
Net cash used in financing activities (200,626) (178,833)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash 18,234 (10,955)
Net decrease in cash, cash equivalents, and restricted cash (28,992) (220,510)
Cash, cash equivalents, and restricted cash – beginning of period 721,854 714,812
Cash, cash equivalents, and restricted cash – end of period 692,862 494,302
Supplemental disclosures of non-cash activities:    
Shares issued via vesting of liability classified awards 5,953 5,114
Shares issued as consideration for acquisition 12,489 0
Cash acquired through acquisitions 2,207 0
Cash paid during the period:    
Interest 557 200
Taxes, net of refunds 37,211 48,410
Regulatory fines and penalties $ 0 $ 15,000