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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 53,058 $ 46,653
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 5,127 3,973
Amortization 3,977 8,839
Stock-based compensation expense 8,061 8,568
Amortization of debt issuance costs and discount 0 874
Noncash lease expense 6,288 4,787
Deferred income tax provision 2,416 1,840
Amortization and adjustment of deferred credit (356) (400)
Other (265) 10
Changes in assets and liabilities:    
Accounts receivable and unbilled, net 28,524 (15,470)
Prepaid expenses and other current assets (860) (3,414)
Accounts payable (7,173) 5,338
Accrued expenses (5,933) 6,066
Advanced billings 3,094 17,546
Lease liabilities (4,933) (4,338)
Other assets and liabilities, net 2,390 (237)
Net cash provided by operating activities 93,415 80,635
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (14,885) (5,990)
Other 48 (1,292)
Net cash used in investing activities (14,837) (7,282)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock option exercises 1,976 3,891
Repurchases of common stock (50,827) 0
Payment of debt 0 (80,438)
Net cash used in financing activities (48,851) (76,547)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (744) 10
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 28,983 (3,184)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 131,920 23,282
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period 160,903 20,098
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION—    
Acquisition of property and equipment—non-cash $ 11,697 $ 2,167