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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Dec. 31, 2024
Cash flows provided by operating activities:      
Net income $ 154,151 $ 187,438  
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization expense 95,958 149,181  
Reduction in carrying value of operating right-of-use assets 9,384 11,472  
Amortization of financing costs and debt discount 1,480 3,907  
Stock compensation expense 12,359 13,181  
Deferred tax benefit (25,014) (35,145)  
Unrealized foreign exchange movements 18,081 (1,027)  
Other non-cash items 8,240 4,629  
Changes in operating assets and liabilities:      
Accounts receivable 9,706 (80,431)  
Unbilled revenue 84,155 (42,546)  
Unearned revenue (122,305) 56,485  
Other net assets 22,045 59,932  
Net cash provided by operating activities 268,240 327,076  
Cash flows used in investing activities:      
Purchase of property, plant and equipment (28,907) (27,152)  
Purchase of subsidiary undertakings (net of cash acquired) (2,537) (7,831)  
Movement of available for sale investments 0 (1)  
Proceeds from investments in equity 103 0  
Purchase of investments in equity (5,941) (4,381)  
Net cash used in investing activities (37,282) (39,365)  
Cash flows used in financing activities:      
Drawdown of credit lines and loan facilities 50,000 50,000  
Repayment of credit lines and loan facilities (57,440) (330,000)  
Proceeds from exercise of equity compensation 4,763 16,305  
Share issue costs (5) (4)  
Repurchase of ordinary shares (250,000) 0  
Share repurchase costs (150) 0  
Net cash used in financing activities (252,832) (263,699)  
Effect of exchange rate movements on cash 9,787 (6,032)  
Net (decrease) / increase in cash and cash equivalents (12,087) 17,980  
Cash and cash equivalents at beginning of period 538,785 378,102 $ 378,102
Cash and cash equivalents at end of period $ 526,698 $ 396,082 $ 538,785