XML 18 R6.htm IDEA: XBRL DOCUMENT v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 29, 2024
Jul. 01, 2023
OPERATING ACTIVITIES:    
Net income $ 20,229 $ 18,426
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 5,603 5,815
Right-of-use asset amortization 7,462 7,193
Deferred income taxes (102) (236)
Share-based compensation expense 2,396 2,098
Bad debt expense (recovery) 681 392
Unrealized foreign currency remeasurement (gains) losses, net (271) (62)
Changes in operating assets and liabilities:    
Accounts receivable 1,341 4,676
Unbilled services (19,817) (21,091)
Prepaid expenses and other current assets, and other assets (3,821) (3,247)
Forgivable loans (6,083) (4,374)
Incentive cash awards payable 4,796 4,029
Accounts payable, accrued expenses, and other liabilities (64,488) (69,747)
Lease liabilities (9,199) (8,851)
Net cash used in operating activities (61,273) (64,979)
INVESTING ACTIVITIES:    
Purchases of property and equipment (3,046) (1,282)
Consideration paid for acquisition (1,500) (570)
Net cash used in investing activities (4,546) (1,852)
FINANCING ACTIVITIES:    
Borrowings under revolving line of credit 93,000 105,000
Repayments under revolving line of credit (6,000) (25,000)
Tax withholding payments reimbursed by shares (1,977) (2,009)
Cash dividends paid (5,976) (5,230)
Repurchase of common stock (33,348) (23,577)
Net cash provided by financing activities 45,699 49,184
Effect of foreign exchange rates on cash and cash equivalents (817) 471
Net decrease in cash and cash equivalents (20,937) (17,176)
Cash and cash equivalents at beginning of period 45,586 31,447
Cash and cash equivalents at end of period 24,649 14,271
Noncash investing and financing activities:    
Increase in accounts payable and accrued expenses for property and equipment 553 376
Excise tax on share repurchases (300) (200)
Right-of-use assets obtained in exchange for lease obligations 2,329 190
Supplemental cash flow information:    
Cash paid for taxes 12,681 6,218
Cash paid for interest 1,533 2,178
Cash paid for amounts included in operating lease liabilities $ 11,163 $ 11,077