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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities    
Net income $ 37,970 $ 55,024
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 26,630 20,459
Amortization of contract acquisition costs 350 176
Amortization of debt issuance costs 265 175
Imputed interest expense and fair value adjustments to contingent consideration 877
Provision for credit losses (185) 21
(Gain) loss on disposal of assets 360 46
Impairment losses 1,112 3,517
Deferred income taxes (4,679) (1,090)
Excess tax benefit from equity-based awards (507) (1,775)
Equity-based compensation expense 3,739 4,028
(Gain) loss on foreign currency derivatives 50 61
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable (41,128) 27,053
Prepaids and other assets (8,321) (22,669)
Accounts payable and accrued expenses 17,518 15,972
Deferred revenue and other liabilities (19,488) (32,088)
Net cash provided by operating activities 13,686 69,787
Cash flows from investing activities    
Proceeds from sale of long-live assets 7 25
Purchases of property, plant and equipment (16,691) (11,565)
Acquisitions, net of cash acquired of $18,638, $4,423 and $4,547, respectively (267)
Net cash used in investing activities (16,684) (11,807)
Cash flows from financing activities    
Net proceeds (borrowings) from line of credit 12,000 (46,000)
Payments on other debt (1,242) (1,871)
Payments of contingent consideration and hold back payments to acquisitions (9,600)
Dividends paid to shareholders 0 0
Payments to noncontrolling interest (3,485) (2,385)
Tax payments related to issuance of restricted stock units (1,521) (3,927)
Payments of debt issuance costs 0 0
Net cash (used in) provided by financing activities (3,848) (54,183)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,629) (2,576)
Increase (decrease) in cash, cash equivalents and restricted cash (8,475) 1,221
Cash, cash equivalents and restricted cash, beginning of period 180,682 159,015
Cash, cash equivalents and restricted cash, end of period 172,207 160,236
Supplemental disclosures    
Cash paid for interest 3,468 1,576
Cash paid for income taxes 3,305 4,275
Non-cash investing and financing activities    
Acquisition of long lived assets through finance leases 202 137
Acquisition of equipment through increase in accounts payable, net 691 (3,431)
Dividends declared but not paid $ 23,518 $ 20,132