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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities    
Net income $ 230,378 $ 193,259
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 32,176 29,926
Amortization of intangible assets 3,149 4,939
Provision for expected credit losses 28,376 21,347
Share-based compensation 27,975 21,412
Deferred income taxes (3,768) (4,602)
Acquisition-related contingent consideration (1,025) 4,263
Amortization of debt issuance costs and other 710 1,722
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable, billed and unbilled (100,004) (333,713)
Notes receivable (45,589) (22,600)
Prepaid expenses and other assets (8,604) (3,252)
Accounts payable, accrued expenses and other (2,590) (8,895)
Income taxes (20,202) (347)
Accrued compensation (57,691) (65,394)
Billings in excess of services provided (3,509) 3,410
Net cash provided by (used in) operating activities 79,782 (158,525)
Investing activities    
Purchases of property and equipment and other (21,729) (43,224)
Maturity of short-term investment 25,246 0
Purchase of short-term investment 0 (24,356)
Net cash provided by (used in) investing activities 3,517 (67,580)
Financing activities    
Borrowings under revolving line of credit 600,000 725,000
Repayments under revolving line of credit (600,000) (440,000)
Repayment of convertible notes 0 (315,763)
Purchase and retirement of common stock 0 (20,982)
Share-based compensation tax withholdings (16,593) (15,211)
Proceeds on stock option exercises 10,614 1,208
Deposits and other 1,106 (1,332)
Net cash used in financing activities (4,873) (67,080)
Effect of exchange rate changes on cash and cash equivalents 4,696 2,645
Net increase (decrease) in cash and cash equivalents 83,122 (290,540)
Cash and cash equivalents, beginning of period 303,222 491,688
Cash and cash equivalents, end of period 386,344 201,148
Supplemental cash flow disclosures    
Cash paid for interest 5,445 10,160
Cash paid for income taxes and tax credits, net of refunds 84,554 67,015
Non-cash financing activities:    
Issuance of stock units under incentive compensation plans $ 2,805 $ 2,274