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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Operating activities    
Net income $ 296,363 $ 233,294
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 82,344 88,273
Amortization of debt issuance costs 1,969 1,685
Amortization of acquired intangible assets 44,624 31,673
Write-down of intangible assets and property, plant and equipment 915 10,647
Allowance for credit losses 2,412 3,226
Unrealized loss (gain) on revaluation of foreign currency asset/liability (4,252) 6,164
Stock-based compensation expense 58,604 55,818
Deferred tax benefit (6,236) (9,287)
Write-down of operating lease right-of-use assets and other assets 0 10,244
Others, net 806 (1,131)
Change in operating assets and liabilities:    
(Increase) decrease in accounts receivable (78,626) 49,299
(Increase) decrease in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets 43,071 (148,909)
Increase (decrease) in accounts payable 11,138 (2,646)
Increase (decrease) in accrued expenses, other current liabilities, operating lease liabilities and other liabilities (74,085) 44,830
Increase in income taxes payable 68,430 52,033
Net cash provided by operating activities 447,477 425,213
Investing activities    
Purchase of property, plant and equipment (31,385) (47,932)
Payment for internally generated intangible assets (including intangibles under development) (3,907) (8,391)
Proceeds and recovery from sale of property, plant and equipment and intangible assets 4,511 447
Payment for business acquisitions, net of cash acquired (6,613) 0
Proceed from sale of investment 142 0
Net cash (used for) investing activities (37,252) (55,876)
Financing activities    
Repayment of finance lease obligations (8,659) (7,240)
Payment of debt issuance costs (3,018) (620)
Proceeds from long-term debt 350,000 0
Repayment of long-term debt (25,500) (25,500)
Proceeds from short-term borrowings 0 455,000
Repayment of short-term borrowings (250,000) (280,000)
Proceeds from issuance of common shares under stock-based compensation plans 29,786 19,261
Payment for net settlement of stock-based awards (33,467) (33,157)
Payment of earn-out consideration (2,556) 0
Dividend paid (60,461) (55,775)
Payment for stock repurchased and retired (including expenses related to stock repurchase) (147,224) (73,588)
Others (6) 0
Net cash (used for) financing activities (151,105) (1,619)
Effect of exchange rate changes (17,085) (31,415)
Net increase in cash and cash equivalents 259,120 367,718
Cash and cash equivalents at the beginning of the period 680,440 467,096
Cash and cash equivalents at the end of the period 922,475 803,399
Supplementary information    
Cash paid during the period for interest 25,715 28,160
Cash paid during the period for income taxes, net of refund $ 38,040 $ 131,456