XML 18 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 20,917 $ 37,970
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25,827 26,630
Amortization of contract acquisition costs 716 350
Amortization of debt issuance costs 268 265
Imputed interest expense and fair value adjustments to contingent consideration, net 3,178  
Provision for credit losses 2,263 (185)
(Gain) loss on disposal of assets 605 360
Loss on dissolution of subsidiary 301  
Impairment losses 4,307 1,112
Deferred income taxes (4,994) (4,679)
Excess tax benefit from equity-based awards (1) (507)
Equity-based compensation expense 4,154 3,739
(Gain) loss on foreign currency derivatives (493) 50
Changes in assets and liabilities, net of acquisitions:    
Accounts receivable 11,089 (41,128)
Prepaids and other assets 13,325 (8,321)
Accounts payable and accrued expenses (22,352) 17,518
Deferred revenue and other liabilities (10,052) (19,488)
Net cash provided by operating activities 49,058 13,686
Cash flows from investing activities    
Proceeds from sale of long-live assets 26 7
Purchases of property, plant and equipment (13,669) (16,691)
Acquisitions, net of cash acquired for current period and prior period, respectively 0
Net cash used in investing activities (13,643) (16,684)
Cash flows from financing activities    
Net proceeds (borrowings) from line of credit (30,000) 12,000
Payments on other debt (600) (1,242)
Payments of contingent consideration and hold back payments to acquisitions (9,162) (9,600)
Dividends paid to shareholders 0 0
Payments to noncontrolling interest (3,367) (3,485)
Tax payments related to issuance of restricted stock units (510) (1,521)
Net cash (used in) provided by financing activities (43,639) (3,848)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 878 (1,629)
Increase (decrease) in cash, cash equivalents and restricted cash (7,346) (8,475)
Cash, cash equivalents and restricted cash, beginning of period 167,064 180,682
Cash, cash equivalents and restricted cash, end of period 159,718 172,207
Supplemental disclosures    
Cash paid for interest 17,097 3,468
Cash paid for income taxes 4,793 3,305
Non-cash investing and financing activities    
Acquisition of long lived assets through finance leases 197 202
Acquisition of equipment through increase in accounts payable, net 5,079 691
Dividends declared but not paid $ 24,572 $ 23,518