XML 18 R8.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 204,512 $ 176,698
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 17,707 13,928
Amortization 1,649 2,514
Stock-based compensation expense 15,351 15,819
Noncash lease expense 14,579 13,460
Deferred income tax benefit (11,308) (2,126)
Other 821 (350)
Changes in assets and liabilities:    
Accounts receivable and unbilled, net (39,314) (62,438)
Prepaid expenses and other current assets (8,954) (17,397)
Accounts payable (921) 770
Accrued expenses 54,923 47,848
Advanced billings 56,026 73,286
Lease liabilities (14,433) (11,134)
Other assets and liabilities, net (13,659) 488
Net cash provided by operating activities 276,979 251,366
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (26,662) (27,636)
Other 30 (1,886)
Net cash used in investing activities (26,632) (29,522)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from stock option exercises 9,855 16,313
Repurchases of common stock (144,020) (800,667)
Proceeds from revolving loan 105,000 299,200
Payments on revolving loan (155,000) (159,500)
Net cash used in financing activities (184,165) (644,654)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 760 (7,487)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 66,942 (430,297)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 28,265 461,304
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period 95,207 31,007
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION —    
Acquisition of property and equipment—non-cash $ 4,704 $ 9,094