XML 33 R8.htm IDEA: XBRL DOCUMENT v3.20.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Operating activities    
Net income (loss) $ 85,698 $ 60,841
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 28,494 21,919
Amortization of debt issuance costs (including loss on extinguishment of debt) 561 443
Amortization of acquired intangible assets 10,741 8,509
Unrealized loss (gain) on revaluation of foreign currency asset/liability (9,655) 257
Stock-based compensation expense 17,487 18,461
Deferred tax expense (benefit) (392) (5,522)
Others, net (348) (508)
Change in operating assets and liabilities:    
Increase in accounts receivable (3,858) (64,763)
Increase in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets (84,098) (36,220)
Increase (decrease) in accounts payable 4,557 (12,189)
Decrease in accrued expenses, other current liabilities, operating leases liability and other liabilities (74,788) (12,087)
Increase in income taxes payable 4,796 13,417
Net cash used for operating activities (18,649) (5,416)
Reserve for doubtful receivables/allowance for credit losses 2,156 2,026
Investing activities    
Purchase of property, plant and equipment (20,956) (14,072)
Payment for internally generated intangible assets (including intangibles under development) (3,236) (7,914)
Proceeds from sale of property, plant and equipment 312 1,478
Payment for business acquisitions, net of cash acquired   (6,305)
Net cash used for investing activities (23,880) (26,813)
Financing activities    
Repayment of finance lease obligations (1,950) (1,780)
Payment of debt issuance costs (620)  
Repayment of long-term debt (8,500) (8,500)
Proceeds from short-term borrowings 125,000 50,000
Repayment of short-term borrowings (30,000) (25,000)
Proceeds from issuance of common shares under stock-based compensation plans 4,063 4,599
Payment for net settlement of stock-based awards (26,238) (652)
Payment of earn-out consideration   (8,400)
Dividend paid (18,543) (16,119)
Payment for stock repurchased and retired (45,000)  
Payment for expenses related to stock repurchase (21)  
Net cash used for financing activities (1,809) (5,852)
Effect of exchange rate changes (21,134) (4,938)
Net decrease in cash and cash equivalents (44,338) (38,081)
Cash and cash equivalents at the beginning of the period 467,096 368,396
Cash and cash equivalents at the end of the period 401,624 325,377
Supplementary information    
Cash paid during the period for interest 5,295 8,486
Cash paid during the period for income taxes, net of refund 69,357 19,286
Right-of-use assets acquired under finance leases $ 10,353 $ 1,433