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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income $ 161,388 $ 138,093
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 41,847 40,102
Noncash lease expense 13,610 13,787
Stock-based compensation expense 17,685 13,696
Amortization of debt issuance costs 1,027 1,161
Net losses on dispositions, and other 1,208 1,293
Changes in assets and liabilities:    
Accounts receivable, net (325,363) (205,387)
Deferred income taxes and income taxes receivable / payable 31,509 34,802
Prepaid expenses and other current and long-term assets (10,217) (11,241)
Accrued compensation and benefits (56,738) (61,039)
Accounts payable and other accrued expenses 74,389 (4,287)
Other current and long-term liabilities (21,877) (6,614)
Net cash used in operating activities (71,532) (45,634)
Cash flows from investing activities    
Purchases of property, equipment, and software (10,488) (13,734)
Payments for business acquisitions and dispositions (406) 0
Payments for cost method investments (4,160) 0
Net cash used in investing activities (15,054) (13,734)
Cash flows from financing activities    
Proceeds from issuance of common stock 6,925 6,081
Stock option exercises 11,176 4,596
Repurchases of common stock (128,390) (73,397)
Cash dividends paid (63,034) (58,899)
Repayments on revolving credit facility, term loans, and Senior Notes (10,313) (17,095)
Proceeds from revolving credit facility 75,000 0
Net cash used in financing activities (108,636) (138,714)
Net decrease in cash and cash equivalents (195,222) (198,082)
Cash and cash equivalents––beginning of period 404,862 695,910
Cash and cash equivalents––end of period 209,640 497,828
Net cash paid during the period for:    
Interest 26,091 8,735
Income taxes $ 2,868 $ 2,952