XML 16 R6.htm IDEA: XBRL DOCUMENT v3.23.4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Cash flows from operating activities    
Net income $ 477,750 $ 339,563
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 123,867 121,200
Noncash lease expense 40,558 41,632
Stock-based compensation expense 61,277 50,992
Amortization of debt issuance costs 3,580 3,329
Loss on debt extinguishment 965 10,251
Losses (gains) on dispositions, and other 2,188 (45,711)
Changes in assets and liabilities:    
Accounts receivable, net (193,483) (169,375)
Deferred income taxes and income taxes receivable / payable (76,982) (206,065)
Prepaid expenses and other current and long-term assets (4,535) 178,383
Accrued compensation and benefits 43,758 2,815
Accounts payable and other accrued expenses (323,730) 79,550
Other current and long-term liabilities (40,145) (40,890)
Net cash provided by operating activities 115,068 365,674
Cash flows from investing activities    
Purchases of property, equipment, and software (50,532) (51,398)
Payments for business acquisitions and dispositions (406) (440,069)
Payments for cost method investments (17,316) (2,000)
Proceeds from sale of businesses 0 53,409
Net cash used in investing activities (68,254) (440,058)
Cash flows from financing activities    
Proceeds from issuance of common stock 20,899 18,003
Stock option exercises 14,409 10,705
Repurchases of common stock (303,654) (114,075)
Cash dividends paid (186,787) (173,216)
Repayments on revolving credit facility, term loans, and Senior Notes (530,937) (406,755)
Net proceeds from debt issuance 636,207 414,751
Proceeds from revolving credit facility 500,000 0
Net cash provided by (used in) financing activities 150,137 (250,587)
Net increase (decrease) in cash and cash equivalents 196,951 (324,971)
Cash and cash equivalents––beginning of period 404,862 695,910
Cash and cash equivalents––end of period 601,813 370,939
Net cash paid during the period for:    
Interest 105,259 67,782
Income taxes $ 222,267 $ 123,214