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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 376,563 $ 231,817
Adjustments to reconcile net income to net cash provided by operating activities-    
Amortization of identifiable intangible assets 75,224 32,273
Depreciation expense 35,377 27,717
Change in right-of-use assets 22,400 19,630
Bad debt expense 5,464 2,849
Deferred tax provision (benefit) (32,511) 116,355
Amortization of debt financing costs 514 512
Gain on sale of assets (2,778) (1,683)
Changes in the fair value of contingent earn-out obligations 44,434 14,207
Stock-based compensation 12,129 9,128
(Increase) decrease in-    
Receivables, net (262,958) (376,282)
Inventories 10,088 (18,272)
Prepaid expenses and other current assets 15,174 2,504
Costs and estimated earnings in excess of billings and unbilled accounts receivable (58,473) (5,326)
Other noncurrent assets (1,882) (247)
Increase (decrease) in-    
Accounts payable and accrued liabilities 323,756 185,382
Billings in excess of costs and estimated earnings and deferred revenue 80,448 217,148
Other long-term liabilities (4,375) 8,848
Net cash provided by operating activities 638,594 466,560
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of property and equipment (70,395) (69,574)
Proceeds from sales of property and equipment 3,611 5,093
Cash paid for acquisitions, net of cash acquired (235,466) (53,404)
Payments for investments (1,770) (1,240)
Net cash used in investing activities (304,020) (119,125)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from revolving credit facility 182,000 285,000
Payments on revolving credit facility (182,000) (500,000)
Proceeds from other debt 640  
Payments on other debt (26,550) (1,980)
Payments of dividends to stockholders (30,322) (21,455)
Share repurchases (42,024) (8,563)
Shares received in lieu of tax withholding (7,292) (4,725)
Proceeds from exercise of options 27 18
Deferred acquisition payments (50)  
Payments for contingent consideration arrangements (18,570) (15,321)
Net cash used in financing activities (124,141) (267,026)
NET INCREASE IN CASH AND CASH EQUIVALENTS 210,433 80,409
CASH AND CASH EQUIVALENTS, beginning of period 205,150 57,214
CASH AND CASH EQUIVALENTS, end of period $ 415,583 $ 137,623