XML 212 R7.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities      
Net income $ 605,706 $ 271,215 $ 466,577
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 164,203 165,484 145,747
Noncash lease expense 53,604 55,950 55,881
Stock-based compensation expense 94,982 80,272 69,784
Deferred income taxes (101,006) (353,902) (130,197)
Amortization of debt issuance costs 4,920 4,350 4,619
Loss on debt extinguishment 965 10,251 2,515
Net loss (gains) on dispositions, impairments and other 8,461 (45,754) (3,388)
Net loss (gains) associated with equity method investment activities 421 2,116 (12,759)
Changes in assets and liabilities:      
Accounts receivable, net (269,639) (130,187) (154,652)
Income taxes receivable / payable (11,370) 3,708 132,029
Prepaid expenses and other current and long-term assets (10,367) 181,907 (19,489)
Accrued compensation and benefits 47,741 1,332 12,620
Accounts payable and other accrued expenses (282,072) 409,516 194,827
Other current and long-term liabilities (47,711) (53,436) (27,588)
Net cash provided by operating activities 258,838 602,822 736,526
Cash flows from investing activities      
Purchases of property, equipment, and software (66,699) (76,130) (79,964)
Payments for business acquisitions, net of cash acquired (406) (440,295) (780,334)
Payments for cost method investments (23,535) (5,000) (7,000)
Proceeds from sale of businesses 0 53,409 0
Other investing activities 0 0 (427)
Net cash used in investing activities (90,640) (468,016) (867,725)
Cash flows from financing activities      
Proceeds from issuance of common stock 28,665 24,663 23,371
Stock option exercises 15,745 11,384 5,929
Repurchases of common stock (404,141) (223,858) (418,859)
Cash dividends paid (253,413) (235,726) (209,057)
Proceeds from revolving credit facility 500,000 0 60,000
Repayments on revolving credit facility, term loans, and Senior Notes (541,250) (417,068) (112,257)
Net proceeds from debt issuance 635,591 414,751 487,027
Net cash used in financing activities (18,803) (425,854) (163,846)
Net increase (decrease) in cash and cash equivalents 149,395 (291,048) (295,045)
Cash and cash equivalents––beginning of year 404,862 695,910 990,955
Cash and cash equivalents––end of year 554,257 404,862 695,910
Net cash paid during the period for:      
Interest 155,848 115,578 64,699
Income taxes 335,911 256,394 127,069
Supplemental disclosures of non-cash investing and financing activities      
Share repurchases transacted but not settled and paid 29,445 16,432 15,839
Unpaid property, equipment and software purchases $ 16,117 $ 0 $ 0