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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 187,438 $ 116,654  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 149,181 145,126  
Impairment of long lived assets 0 6,933  
Reduction in carrying value of operating right-of-use assets 11,472 11,304  
Loss on equity method investments 0 383  
Amortization of financing costs and debt discount 3,907 4,497  
Stock compensation expense 13,181 14,759  
Deferred tax benefit (35,145) (43,823)  
Unrealized foreign exchange movements (1,027) (1,319)  
Other non-cash items 4,629 17,534  
Changes in operating assets and liabilities:      
Accounts receivable (80,431) (93,259)  
Unbilled revenue (42,546) (18,346)  
Unearned revenue 56,485 80,990  
Other net assets 59,932 (65,933)  
Net cash provided by operating activities 327,076 175,500  
Cash flows from investing activities:      
Purchase of property, plant and equipment (27,152) (26,744)  
Purchase of subsidiary undertakings (net of cash acquired) (7,831) 0  
Sale of available for sale investments 1,005 482  
Purchase of available for sale investments (1,006) (422)  
Purchase of investments in equity - long term (4,381) (1,358)  
Net cash used in investing activities (39,365) (28,042)  
Cash flows from financing activities:      
Drawdown of credit lines and loan facilities 50,000 180,000  
Repayment of credit lines and loan facilities (330,000) (350,000)  
Proceeds from exercise of equity compensation 16,305 12,940  
Share issue costs (4) (4)  
Net cash used in financing activities (263,699) (157,064)  
Effect of exchange rate movements on cash (6,032) 718  
Net increase / (decrease) in cash and cash equivalents 17,980 (8,888)  
Cash and cash equivalents at beginning of period 378,102 288,768 $ 288,768
Cash and cash equivalents at end of period $ 396,082 $ 279,880 $ 378,102