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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities:    
Net income $ 31,186 $ 38,760
Adjustments to reconcile net income to cash provided by (used in) operating activities:    
Stock-based compensation 53,465 0
Depreciation and amortization 46,122 29,838
Impairment and other losses 14,926 0
Provision for bad debt 1,893 3,241
Deferred income taxes 2,710 (2,631)
Adjustment to deferred acquisition consideration 9,456 2,270
Other 6,998 (882)
Gain on sale of an asset (43,440) 0
Changes in working capital:    
Accounts receivable (26,095) 6,951
Expenditures billable to clients (9,230) (12,225)
Other assets (14,568) (6,637)
Accounts payable (37,435) 4,539
Accruals and other liabilities (26,668) 11,128
Advance billings 16,598 18,832
Acquisition related payments (5,772) 0
Net cash provided by operating activities 20,146 93,184
Cash flows from investing activities:    
Capital expenditures (13,666) (8,977)
Proceeds from sale of assets 37,232 0
Acquisitions, net of cash acquired 130,155 (5,549)
Other 0 (1,895)
Net cash provided by (used in) investing activities 153,721 (16,421)
Repayment of borrowings under revolving credit facility    
Repayment of borrowings under revolving credit facility (535,472) (108,744)
Proceeds from borrowings under revolving credit facility 408,369 167,000
Shares acquired and cancelled (820) 0
Distributions to noncontrolling interests and other (19,245) (3,075)
Payment of deferred consideration and other 0 (1,500)
Contributions 0 1,576
Proceeds from issuance of the 5.625% Notes 1,100,000 0
Debt issuance costs (15,365) (319)
Distributions (204,929) (98,638)
Repurchase of 7.50% Senior Notes 884,398 0
Net cash used in financing activities (151,860) (43,700)
Effect of exchange rate changes on cash and cash equivalents 1,025 555
Net increase in cash and cash equivalents 23,032 33,618
Cash and cash equivalents at beginning of period 92,457 63,860
Cash and cash equivalents at end of period 115,489 97,478
Supplemental disclosures:    
Cash income taxes paid 42,346 3,618
Cash interest paid 22,493 7,288
Non-cash investing and financing activities:    
Acquisitions of business 426,396 23,720
Acquisitions of noncontrolling interest 37,559 0
Net unrealized (loss) gain on available for sale investment 0 5,024
Non-cash contributions included in Member’s equity 12,372 83,242
Non-cash distributions to Stagwell Media LP 13,000 0
Non-cash payment of deferred acquisition consideration $ 7,080 $ 64,322