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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 116,654 $ 111,970
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 145,126 141,405
Impairment of long lived assets 6,933 3,574
Reduction in carrying value of operating right-of-use assets 11,304 13,077
Loss on equity method investments 383 785
Charge on cash flow hedge 2,253 0
Amortization of financing costs and debt discount 4,497 5,781
Stock compensation expense 14,759 18,903
Deferred taxes (43,823) (34,702)
Foreign exchange movements (1,319) (7,323)
Other non-cash items 17,534 (2,895)
Changes in operating assets and liabilities:    
Accounts receivable (93,259) (35,461)
Unbilled revenue (18,346) (55,427)
Unearned revenue 80,990 (16,812)
Other net assets (68,186) 84,041
Net cash provided by operating activities 175,500 226,916
Cash flows from investing activities:    
Purchase of property, plant and equipment (26,744) (19,632)
Sale of available for sale investments 482 0
Purchase of available for sale investments (422) 0
Sale of investments in equity - long term 0 96
Sale of investments in equity - long term (1,358) 0
Net cash used in investing activities (28,042) (19,536)
Cash flows from financing activities:    
Drawdown of bank credit lines and loan facilities 180,000 0
Repayment of bank credit lines and loan facilities (350,000) (300,000)
Proceeds from exercise of equity compensation 12,940 7,491
Share issue costs (4) (3)
Repurchase of ordinary shares 0 (99,983)
Share repurchase costs 0 (17)
Net cash used in financing activities (157,064) (392,512)
Effect of exchange rate movements on cash 718 (7,983)
Net decrease in cash and cash equivalents (8,888) (193,115)
Cash and cash equivalents at beginning of period 288,768 752,213
Cash and cash equivalents at end of period $ 279,880 $ 559,098