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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 100,622 $ 70,988
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and intangible assets amortization 32,124 29,080
Operating lease right-of-use assets expense 5,381 5,553
Deferred income tax benefit (2,915) (861)
Provision for bad debts (118) 2,326
Stock-based compensation expense 44,171 35,651
Other 307 919
Changes in operating assets and liabilities:    
Accounts receivable 185,385 180,259
Other receivables and current assets 68,991 43,479
Other long-term assets (5,798) (5,983)
Accounts payable, accrued expenses and current liabilities (135,365) (143,883)
Accrued income taxes 1,481 (1,119)
Deferred revenue (25,879) 455
Other long-term liabilities (7,621) (5,928)
Net cash provided by operating activities 260,766 210,936
Cash flows from investing activities:    
Acquisitions, net of cash acquired (120,584) (4,915)
Capital expenditures (6,892) (5,062)
Other investing activities (914) 13
Net cash used in investing activities (128,390) (9,964)
Cash flows from financing activities:    
Purchase of treasury stock (196,494) (155,571)
Restricted stock withholding taxes paid in lieu of issued shares (52,916) (59,196)
Proceeds from shares issued for stock-based compensation 8,582 10,122
Net cash used in financing activities (240,828) (204,645)
Effect of exchange rate fluctuations on cash and cash equivalents 1,750 (6,573)
Net decrease in cash and cash equivalents (106,702) (10,246)
Cash and cash equivalents, beginning of period 614,391 667,667
Cash and cash equivalents, end of period 507,689 657,421
Supplemental disclosure of cash flow information:    
Income taxes paid 7,650 3,566
Interest paid 10,606 2,626
Fair value of non-cash consideration in connection with acquisitions $ 5,056 $ 0