XML 23 R9.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income $ 353,404 $ 369,448 $ 308,276
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 86,849 109,124 116,499
Amortization of debt issuance costs (including loss on extinguishment of debt) 2,376 2,678 2,248
Amortization of acquired intangible assets 42,667 58,448 43,343
Write-down of intangible assets and property, plant and equipment 1,377 915 14,083
Impairment charge on assets classified as held for sale 32,575 0 0
Write-down of operating lease right-of-use assets and other assets 20,307 0 18,084
Allowance for credit losses 1,583 1,487 5,707
Unrealized loss/(gain) on revaluation of foreign currency asset/liability 525 (8,304) 9,578
Stock-based compensation expense 77,373 81,968 74,008
Deferred tax benefit (29,151) (9,263) (22,587)
Others, net 863 623 (1,291)
Change in operating assets and liabilities:      
(Increase) decrease in accounts receivable (112,341) (11,803) 42,505
(Increase) decrease in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets 3,822 83,432 (99,852)
Increase (decrease) in accounts payable 14,185 11,740 (12,480)
Increase (decrease) in accrued expenses, other current liabilities, operating lease liabilities and other liability (54,329) (2,057) 87,180
Increase (decrease) in income taxes payable 1,585 5,845 (993)
Net cash provided by operating activities 443,670 694,281 584,308
Investing activities      
Purchase of property, plant and equipment (50,614) (53,341) (70,170)
Payment for internally generated intangible assets (including intangibles under development) (3,775) (3,907) (10,201)
Proceeds from sale of property, plant and equipment and intangibles assets 60 6,384 607
Payment for business acquisitions, net of cash acquired (33) (72,025) (186,633)
Proceeds from divestiture of business 17,769 0 0
Proceed from sale of investment 0 142 0
Net cash used for investing activities (36,593) (122,747) (266,397)
Financing activities      
Repayment of finance lease obligations (12,810) (13,926) (10,567)
Payment of debt issuance costs (3,045) (3,029) (620)
Proceeds from long-term debt 239,130 350,000 0
Repayment of long-term debt (620,130) (34,002) (34,000)
Proceeds from short-term borrowings 261,000 0 610,000
Repayment of short-term borrowings (110,000) (250,000) (430,000)
Proceeds from issuance of common shares under stock-based compensation plans 27,751 35,051 25,135
Payment for net settlement of stock-based awards (44,942) (35,717) (34,083)
Payment of earn-out consideration (2,437) (2,556) (6,552)
Dividend paid (91,837) (80,479) (74,212)
Payment for stock repurchased and retired (including expenses related to stock repurchase) (214,082) (298,219) (137,112)
Others 0 (6) 0
Net cash used for financing activities (571,402) (332,883) (92,011)
Effect of exchange rate changes (88,368) (19,633) (12,556)
Net increase (decrease) in cash and cash equivalents (164,325) 238,651 225,900
Cash and cash equivalents at the beginning of the period 899,458 680,440 467,096
Cash and cash equivalents at the end of the period 646,765 899,458 680,440
Supplementary information      
Cash paid during the period for interest (including interest rate swaps) 51,147 46,348 49,101
Cash paid during the period for income taxes, net of refunds 145,979 31,761 193,946
Property, plant and equipment acquired under finance lease obligations $ 7,078 $ 286 $ 29,526