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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 70,988 $ 72,398
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and intangible assets amortization 29,080 27,082
Operating lease right-of-use assets expense 5,553 5,699
Deferred income tax benefit (861) (3,564)
Provision for bad debts 2,326 18
Stock-based compensation expense 35,651 35,119
Other 919 975
Changes in operating assets and liabilities:    
Accounts receivable 180,259 159,038
Other receivables and current assets 43,479 (12,071)
Other long-term assets (5,983) (1,909)
Accounts payable, accrued expenses and current liabilities (143,883) (80,050)
Accrued income taxes (1,119) (20,954)
Deferred revenue 455 1,204
Other long-term liabilities (5,928) (11,878)
Net cash provided by operating activities 210,936 171,107
Cash flows from investing activities:    
Acquisitions, net of cash acquired (4,915) (10,783)
Capital expenditures (5,062) (5,045)
Other investing activities 13 (35)
Net cash used in investing activities (9,964) (15,863)
Cash flows from financing activities:    
Purchase of treasury stock (155,571) 0
Restricted stock withholding taxes paid in lieu of issued shares (59,196) (86,049)
Proceeds from shares issued for stock-based compensation 10,122 11,892
Other financing activities 0 (51)
Net cash used in financing activities (204,645) (74,208)
Effect of exchange rate fluctuations on cash and cash equivalents (6,573) (6,281)
Net (decrease) increase in cash and cash equivalents (10,246) 74,755
Cash and cash equivalents, beginning of period 667,667 912,672
Cash and cash equivalents, end of period 657,421 987,427
Supplemental disclosure of cash flow information:    
Income taxes paid 3,566 20,641
Interest paid $ 2,626 $ 2,956