XML 21 R7.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 24,312 $ 19,641
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 20,767 19,740
Amortization of intangibles 9,967 10,249
Amortization of debt financing fees 298 298
Loss (gain) on disposal of assets (83) 132
Benefit from credit losses (259) 0
Unrealized foreign exchange losses (gains) on forward contracts 3,463 (1,675)
Deferred taxes (1,364) (90)
Stock-based compensation expense 21,356 28,504
Changes in operating assets and liabilities:    
Accounts receivable 1,352 3,081
Prepaid expenses and other current assets (4,740) (5,529)
Operating lease right-of-use assets 7,796 7,397
Other noncurrent assets (338) (368)
Accounts payable and accrued liabilities (34) (1,142)
Accrued payroll and employee-related liabilities 10,275 9,052
Operating lease liabilities (8,166) (7,056)
Income tax payable (2,913) 300
Deferred revenue (333) (217)
Other noncurrent liabilities (145) (104)
Net cash provided by operating activities 81,211 82,213
Cash flows from investing activities:    
Purchase of property and equipment (8,088) (15,045)
Investment in loan receivable 0 (1,000)
Net cash used in investing activities (8,088) (16,045)
Cash flows from financing activities:    
Payments for deferred business acquisition consideration (144) 0
Payments on long-term debt (3,375) (1,350)
Proceeds from employee stock plans 2,051 399
Payments for taxes related to net share settlement (2,074) (550)
Payments for stock repurchases (15,072) (44,334)
Net cash used in financing activities (18,614) (45,835)
Increase in cash and cash equivalents 54,509 20,333
Effect of exchange rate changes on cash (9,152) (685)
Cash and cash equivalents at beginning of period 125,776 133,992
Cash and cash equivalents at end of period $ 171,133 $ 153,640