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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Operating activities      
Net income $ 369,448 $ 308,276 $ 304,881
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 109,124 116,499 96,101
Amortization of debt issuance costs (including loss on extinguishment of debt) 2,678 2,248 1,779
Amortization of acquired intangible assets 58,448 43,343 32,612
Write-down of intangible assets and property, plant and equipment 915 14,083 3,511
Reserve for doubtful receivables/allowance for credit losses 1,487 5,707 7,443
Unrealized loss (gain) on revaluation of foreign currency asset/liability (8,304) 9,578 (5,171)
Stock-based compensation expense 81,968 74,008 83,885
Deferred tax benefit (9,263) (22,587) (16,315)
Write-down of operating lease right-of-use assets and other assets 0 18,084 0
Gain on exchange of non-monetary asset 0 0 (31,380)
Others, net 623 (1,291) (2,213)
Change in operating assets and liabilities:      
(Increase) decrease in accounts receivable (11,803) 42,505 (121,983)
(Increase) decrease in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets 83,432 (99,852) (69,813)
Increase (decrease) in accounts payable 11,740 (12,480) (21,375)
Increase (decrease) in accrued expenses, other current liabilities, operating lease liabilities and other liability (2,057) 87,180 157,580
Increase (decrease) in income taxes payable 5,845 (993) 8,346
Net cash provided by operating activities 694,281 584,308 427,888
Investing activities      
Purchase of property, plant and equipment (53,341) (70,170) (74,927)
Payment for internally generated intangible assets (including intangibles under development) (3,907) (10,201) (33,834)
Proceeds from sale of property, plant and equipment and intangibles assets 6,384 607 1,750
Proceeds from sale of equity affiliates 0 0 2,168
Payment for business acquisitions, net of cash acquired (72,025) (186,633) (252,276)
Proceed from sale of investment 142 0 0
Net cash used for investing activities (122,747) (266,397) (357,119)
Financing activities      
Repayment of finance lease obligations (13,926) (10,567) (7,380)
Payment of debt issuance costs (3,029) (620) (2,317)
Proceeds from long-term debt 350,000 0 400,000
Repayment of long-term debt (34,002) (34,000) (34,000)
Proceeds from short-term borrowings 0 610,000 400,000
Repayment of short-term borrowings (250,000) (430,000) (625,000)
Proceeds from issuance of common shares under stock-based compensation plans 35,051 25,135 19,670
Payment for net settlement of stock-based awards (35,717) (34,083) (3,850)
Payment of earn-out consideration (2,556) (6,552) (12,790)
Dividend paid (80,479) (74,212) (64,671)
Payment for stock repurchased and retired (including expenses related to stock repurchase) (298,219) (137,112) (30,015)
Others (6) 0 0
Net cash provided by/ (used for) financing activities (332,883) (92,011) 39,647
Effect of exchange rate changes (19,633) (12,556) (11,716)
Net increase in cash and cash equivalents 238,651 225,900 110,416
Cash and cash equivalents at the beginning of the period 680,440 467,096 368,396
Cash and cash equivalents at the end of the period 899,458 680,440 467,096
Supplementary information      
Cash paid during the period for interest (including interest rate swaps) 46,348 49,101 45,084
Cash paid during the period for income taxes, net of refunds 31,761 193,946 104,217
Property, plant and equipment acquired under finance lease obligations 286 29,526 5,008
Non-cash transaction: Gain on exchange of non-monetary asset $ 0 $ 0 $ (31,380)