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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities    
Net income $ 193,259 $ 188,016
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 29,926 27,045
Amortization of intangible assets 4,939 7,320
Acquisition-related contingent consideration 4,263 863
Provision for expected credit losses 21,347 13,101
Share-based compensation 21,412 18,491
Amortization of debt issuance costs and other 1,722 1,588
Deferred income taxes (4,602) (9,140)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable, billed and unbilled (333,713) (251,280)
Notes receivable (22,600) 838
Prepaid expenses and other assets (3,252) (3,066)
Accounts payable, accrued expenses and other (8,895) 21,936
Income taxes (347) 3,940
Accrued compensation (65,394) (67,763)
Billings in excess of services provided 3,410 7,672
Net cash used in operating activities (158,525) (40,439)
Investing activities    
Payments for acquisition of businesses, net of cash received 0 (6,742)
Purchases of property and equipment and other (43,224) (38,935)
Purchase of short-term investment (24,356) 0
Net cash used in investing activities (67,580) (45,677)
Financing activities    
Borrowings under revolving line of credit 725,000 165,000
Repayments under revolving line of credit (440,000) (165,000)
Repayment of convertible notes (315,763) 0
Purchase and retirement of common stock (20,982) (23,530)
Share-based compensation tax withholdings and other (14,003) (15,663)
Payments for business acquisition liabilities (3,651) (4,848)
Deposits and other 2,319 7,092
Net cash used in financing activities (67,080) (36,949)
Effect of exchange rate changes on cash and cash equivalents 2,645 (44,373)
Net decrease in cash and cash equivalents (290,540) (167,438)
Cash and cash equivalents, beginning of period 491,688 494,485
Cash and cash equivalents, end of period 201,148 327,047
Supplemental cash flow disclosures    
Cash paid for interest 10,160 8,012
Cash paid for income taxes, net of refunds 67,015 51,353
Non-cash investing and financing activities:    
Issuance of stock units under incentive compensation plans 2,274 1,664
Business acquisition liabilities not yet paid 0 5,593
Non-cash additions to property and equipment $ 1,972 $ 4,970