XML 16 R6.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jul. 31, 2016
Jul. 31, 2015
Cash flows from operating activities:    
Net income $ 4,068 $ 23,082
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 11,444 7,423
Stock-based compensation expense 4,915 3,691
Provision for doubtful accounts 2,577 2,068
Gain on cash surrender value of life insurance policies (2,498) (2,494)
Gain on marketable securities (3,915) (665)
Deferred income taxes 5,410 5,124
Change in other assets and liabilities:    
Deferred compensation (5,866) (1,820)
Receivables due from clients (28,586) (13,058)
Income tax and other receivables (8,093) 1,145
Prepaid expenses and other assets (10,066) (4,869)
Investment in unconsolidated subsidiaries (79) (725)
Income taxes payable (4,346) (1,990)
Accounts payable and accrued liabilities (93,866) (96,737)
Other (7,137) (10,368)
Net cash used in operating activities (136,038) (90,193)
Cash flows from investing activities:    
Purchase of property and equipment (15,079) (5,485)
Cash paid for acquisition, net of cash acquired (2,880)  
Purchase of marketable securities (5,430) (9,116)
Proceeds from sales/maturities of marketable securities 13,764 16,364
Premium on company-owned life insurance policies (401) (404)
Proceeds from life insurance policies   1,659
Dividends received from unconsolidated subsidiaries 230 806
Net cash (used in) provided by investing activities (9,796) 3,824
Cash flows from financing activities:    
Proceeds from term loan facility 275,000  
Principal payment on term loan facility (140,000)  
Payment of contingent consideration from acquisition (1,070)  
Purchase of common stock (4,161) (6,573)
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan 2,430 2,379
Tax benefit related to stock-based compensation 332 4,064
Dividends paid to shareholders (5,909) (5,115)
Payments on life insurance policy loans   (1,151)
Net cash provided by (used in) financing activities 126,622 (6,396)
Effect of exchange rate changes on cash and cash equivalents (9,967) (11,559)
Net decrease in cash and cash equivalents (29,179) (104,324)
Cash and cash equivalents at beginning of period 273,252 380,838
Cash and cash equivalents at end of period $ 244,073 $ 276,514