XML 17 R6.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 30, 2024
Apr. 01, 2023
OPERATING ACTIVITIES:    
Net income $ 13,691 $ 8,918
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 2,792 2,943
Right-of-use asset amortization 3,565 3,570
Deferred income taxes (157) (236)
Share-based compensation expense 1,039 940
Bad debt expense (recovery) 663 0
Unrealized foreign currency remeasurement (gains) losses, net (208) (20)
Changes in operating assets and liabilities:    
Accounts receivable 2,529 17,659
Unbilled services (13,623) (19,012)
Prepaid expenses and other current assets, and other assets (2,552) 875
Forgivable loans 523 (9,982)
Incentive cash awards payable 2,383 1,929
Accounts payable, accrued expenses, and other liabilities (69,302) (73,233)
Lease liabilities (4,423) (4,402)
Net cash used in operating activities (63,080) (70,051)
INVESTING ACTIVITIES:    
Purchases of property and equipment (730) (562)
Consideration paid for acquisition, net 0 (570)
Net cash used in investing activities (730) (1,132)
FINANCING ACTIVITIES:    
Borrowings under revolving line of credit 70,000 105,000
Repayments under revolving line of credit 0 (5,000)
Tax withholding payments reimbursed by shares (1,631) (1,873)
Cash dividends paid (3,075) (2,702)
Repurchase of common stock (9,242) (20,577)
Net cash provided by financing activities 56,052 74,848
Effect of foreign exchange rates on cash and cash equivalents (706) 407
Net increase (decrease) in cash and cash equivalents (8,464) 4,072
Cash and cash equivalents at beginning of period 45,586 31,447
Cash and cash equivalents at end of period 37,122 35,519
Noncash investing and financing activities:    
Increase in accounts payable and accrued expenses for property and equipment 454 23
Excise tax on share repurchases (65) (173)
Right-of-use assets obtained in exchange for lease obligations 1,955 0
Supplemental cash flow information:    
Cash paid for taxes 1,534 1,081
Cash paid for interest 91 124
Cash paid for amounts included in operating lease liabilities $ 5,569 $ 5,474