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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities    
Net income $ 61,824 $ 79,965
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation of property and equipment 10,145 10,424
Amortization of intangible assets 1,017 1,016
Amortization of notes receivable 9,930 12,377
Provision for expected credit losses 7,214 11,420
Share-based compensation 9,753 8,812
Deferred income taxes 8,889 (8,107)
Other 275 896
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable, billed and unbilled (74,890) (73,201)
Notes receivable, net of repayments (162,003) (48,314)
Prepaid expenses and other assets (4,445) (5,612)
Accounts payable, accrued expenses and other 7,653 4,317
Income taxes (30,198) 1,691
Accrued compensation (310,495) (271,044)
Billings in excess of services provided 121 542
Net cash used in operating activities (465,210) (274,818)
Investing activities    
Purchases of property and equipment and other (17,803) (4,640)
Maturity of short-term investment 0 25,246
Net cash provided by (used in) investing activities (17,803) 20,606
Financing activities    
Borrowings under revolving line of credit 235,000 280,000
Repayments under revolving line of credit (75,000) (75,000)
Purchase and retirement of common stock (182,641) 0
Share-based compensation tax withholdings (11,576) (11,111)
Proceeds on stock option exercises 85 2,399
Deposits and other 1,831 2,297
Net cash provided by (used in) financing activities (32,301) 198,585
Effect of exchange rate changes on cash and cash equivalents 5,942 (3,635)
Net decrease in cash and cash equivalents (509,372) (59,262)
Cash and cash equivalents, beginning of period 660,493 303,222
Cash and cash equivalents, end of period 151,121 243,960
Supplemental cash flow disclosures    
Cash paid for interest 461 765
Cash paid for income taxes and tax credits, net of refunds 40,066 25,943
Non-cash financing activities:    
Issuance of stock units under incentive compensation plans 4,369 2,805
Excise tax on purchase and retirement of common stock 1,526 0
Non-cash additions to property and equipment $ 4,843 $ 150