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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 322,656 $ 281,488 $ 262,179
Adjustments to reconcile net income to net cash provided by operating activities:      
Loss on disposal of property, plant and equipment 70 228 151
Depreciation expense 50,565 43,436 42,125
Amortization of intangibles 15,351 17,861 17,450
Amortization of government grants (47) (44) (44)
Interest on short term investments (1,329) (1,088) (823)
Realized (gain)/loss on sale of short term investments (56) (112) (50)
Gain on re-measurement of financial assets (800) 0 0
Amortization of gain on interest rate hedge (923) (923) (923)
Amortization of financing costs 812 556 566
Stock compensation expense 31,594 30,573 40,343
Deferred tax expense 1,652 10,729 1,545
Changes in assets and liabilities:      
(Increase)/decrease in accounts receivable (37,557) 57,747 2,526
Increase in unbilled revenue (98,510) (62,491) (16,753)
Decrease/(increase) in other receivables 3,107 1,771 (1,829)
(Increase)/decrease in prepayments and other current assets (3,237) 4,359 1,872
Decrease/(increase) in other non-current assets 856 (1,524) (2,157)
Decrease in payments on account (6,253) (7,174) (45,754)
Increase/(decrease) in other current liabilities 2,009 6,679 (44,713)
(Decrease)/increase in other non-current liabilities (1,034) (3,710) 3,008
Decrease in income taxes payable (5,220) (2,293) (690)
(Decrease)/increase in accounts payable (5,067) 7,014 1,175
Net cash provided by operating activities 268,639 383,082 259,204
Cash flows from investing activities:      
Purchase of property, plant and equipment (48,397) (44,717) (42,601)
Purchase of subsidiary undertakings (1,645) (144,131) (54,209)
Cash acquired with subsidiary undertaking 0 19,649 3,168
Sale of available for sale investments 99,865 33,086 40,858
Purchase of available for sale investments (80,956) (41,701) (22,030)
Purchase of investments in equity - long term (6,163) 0 0
Net cash used in investing activities (37,296) (177,814) (74,814)
Cash flows from financing activities:      
Financing costs (823) 0 0
Drawdown of credit lines and facilities 0 0 73,000
Repayment of credit lines and facilities 0 0 (73,000)
Proceeds from the exercise of equity compensation 16,842 13,950 10,180
Share issue costs (16) (15) (17)
Excess tax benefit on exercise of equity compensation 0 0 6,402
Repurchase of ordinary shares (128,960) (133,106) (110,000)
Share repurchase costs (66) (106) (275)
Net cash used in financing activities (113,023) (119,277) (93,710)
Effect of exchange rate movements on cash (5,328) 4,327 (2,050)
Net increase in cash and cash equivalents 112,992 90,318 88,630
Cash and cash equivalents at beginning of year 282,859 192,541 103,911
Cash and cash equivalents at end of year $ 395,851 $ 282,859 $ 192,541