XML 23 R7.htm IDEA: XBRL DOCUMENT v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Oct. 31, 2021
Oct. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 152,729 $ (2,777)
Adjustments to reconcile net income (loss) to net cash used by operating activities:    
Depreciation and amortization 31,277 30,333
Stock-based compensation expense 14,649 13,195
Impairment of right of use assets 7,392  
Impairment of fixed assets 1,915  
Provision for doubtful accounts 9,629 7,993
Gain on cash surrender value of life insurance policies (2,184) (3,899)
Gain on marketable securities (10,041) (12,025)
Deferred income taxes 3,006 5,071
Change in other assets and liabilities:    
Deferred compensation 30,339 22,670
Receivables due from clients (169,037) (46,221)
Income taxes and other receivables (1,588) (13,755)
Prepaid expenses and other assets (6,330) (4,135)
Unearned compensation (44,955) (33,630)
Income taxes payable (1,832) (11,964)
Accounts payable and accrued liabilities (56,852) (52,622)
Other (641) 9,716
Net cash used in operating activities (42,524) (92,050)
Cash flows from investing activities:    
Purchase of property and equipment (18,988) (15,329)
Purchase of marketable securities (54,070) (40,572)
Proceeds from sales/maturities of marketable securities 38,725 32,343
Premium on company-owned life insurance policies (295) (361)
Proceeds from life insurance policies 3,163 591
Dividends received from unconsolidated subsidiaries 195  
Net cash used in investing activities (31,270) (23,328)
Cash flows from financing activities:    
Payments of tax withholdings on restricted stock (18,058) (4,550)
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan 3,593 3,371
Dividends paid to shareholders (13,549) (11,414)
Repurchases of common stock (9,386) (22,770)
Principal payments on finance leases (592) (664)
Payments on life insurance policy loans (64) (596)
Dividends - noncontrolling interest   (558)
Net cash used in financing activities (38,056) (37,181)
Effect of exchange rate changes on cash and cash equivalents (13,537) 16,424
Net decrease in cash and cash equivalents (125,387) (136,135)
Cash and cash equivalents at beginning of period 850,778 689,244
Cash and cash equivalents at end of the period $ 725,391 $ 553,109