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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income (loss) $ 55,488 $ 38,131
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 12,005 12,549
Non-cash lease expense 3,043 3,340
Lease-related impairment charges 2,293 2,086
Share-based compensation 25,284 23,151
Amortization of debt discount and issuance costs 508 382
Allowances for doubtful accounts 2,353 53
Deferred income taxes 1,942 1,755
Gain on sale of property, plant and equipment 101 (1)
Change in fair value of contingent consideration liabilities (416) (233)
Changes in operating assets and liabilities, net of acquisitions and divestiture:    
(Increase) decrease in receivables from clients, net (20,372) (4,440)
(Increase) decrease in unbilled services, net 3,057 (32,567)
(Increase) decrease in current income tax receivable / payable, net (2,606) (6,141)
(Increase) decrease in other assets (14,942) (4,880)
Increase (decrease) in accounts payable and other liabilities (6,978) (5,594)
Increase (decrease) in accrued payroll and related benefits (86,400) (44,277)
Increase (decrease) in deferred revenues 2,339 2,804
Net cash used in operating activities (23,503) (13,880)
Cash flows from investing activities:    
Purchases of property and equipment (3,665) (3,725)
Payment to Acquire Life Insurance Policy, Investing Activities (1,361) (2,188)
Proceeds from Life Insurance Policy 0 2,956
Purchases of businesses (20,769) 38
Capitalization of internally developed software costs (14,138) (12,998)
Proceeds from Sale and Collection of Notes Receivable 154 154
Proceeds from sale of property and equipment 102 0
Net cash used in investing activities (39,677) (15,763)
Cash flows from financing activities:    
Proceeds from exercises of stock options 1,215 987
Shares redeemed for employee tax withholdings (21,080) (9,728)
Share repurchases (97,264) (60,368)
Proceeds from bank borrowings 618,500 230,000
Repayments of bank borrowings (430,938) (125,000)
Payments for debt issuance costs (1,446) (58)
Deferred payments on business acquisition (261) (1,500)
Net cash provided by financing activities 68,726 34,333
Effect of exchange rate changes on cash (49) 59
Net increase in cash and cash equivalents 5,497 4,749
Cash and cash equivalents at beginning of the period 12,149 11,834
Cash and cash equivalents at end of the period 17,646 16,583
Non-cash investing and financing activities:    
Property and equipment expenditures and capitalized software included in current liabilities 4,827 4,437
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 3,214 1,839
Stock Issued 8,640 0
Contingent consideration accrued related to purchases of businesses 36 0
Excise Taxes On Share Repurchases Incurred But Not Paid $ 449 $ 385