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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash flows from operating activities:    
Net income $ 35,290 $ 62,991
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 42,660 24,428
Non-cash interest expense and other 2,817 1,134
Change in fair value of contingent consideration 5,000 (2,158)
Increase in allowance for credit losses and sales credits 6,742 4,978
Provision for deferred income taxes (9,827) (10,328)
Share-based compensation 11,274 8,888
Loss on disposal or sale of fixed assets 3,321 39
Amortization of discount on investments (71) (229)
Net loss on deferred compensation balances 379 0
Non-cash lease expense 180 (106)
Changes in assets and liabilities, net of effects from acquisitions:    
Accounts receivable 2,160 12,427
Accounts receivable, subcontractor 14,245 84
Income taxes receivable 6,157 (1,673)
Prepaid expenses (3,260) (1,523)
Other current assets 584 583
Other assets 3,144 (8,763)
Accounts payable and accrued expenses (14,035) (29,471)
Accrued compensation and benefits (1,187) 11,774
Other liabilities 22,764 (5,852)
Deferred revenue (72) (2,025)
Restricted investments balance 6 93
Net cash provided by operating activities 128,271 65,291
Cash flows from investing activities:    
Purchase and development of fixed assets (19,727) (15,532)
Purchase of investments (23,129) (13,281)
Proceeds from maturity of investments 14,100 22,670
Payments to fund deferred compensation plan (6,191) (5,279)
Purchase of convertible promissory note (490) 0
Cash paid for acquisitions, net of cash and restricted cash received (476,491) (228,149)
Cash paid for other intangibles (1,400) (1,120)
Cash received for working capital adjustments for prior year acquisitions 66 0
Net cash used in investing activities (513,262) (240,691)
Cash flows from financing activities:    
Payments on term loans (1,563) 0
Proceeds from term loans 250,000 150,000
Payments on revolving credit facility (125,000) (25,000)
Proceeds from revolving credit facility 225,000 101,000
Repurchase of common stock 0 (18,705)
Payment of financing costs (4,181) (777)
Earn-out payments for prior acquisitions (10,622) (5,700)
Cash paid for shares withheld for taxes (4,640) (11,533)
Net cash provided by financing activities 328,994 189,285
Effect of exchange rate changes on cash (105) (190)
Net increase (decrease) in cash, cash equivalents and restricted cash (56,102) 13,695
Cash, cash equivalents and restricted cash at the beginning of period 153,962 84,324
Cash, cash equivalents and restricted cash at the end of period 97,860 98,019
Supplemental disclosures of cash flow information:    
Cash paid for amounts included in the measurement of operating lease liabilities 10,112 8,694
Cash paid for interest (net of $208 and $230 capitalized for the six months ended June 30, 2020 and 2019, respectively) 12,759 11,714
Cash paid for income taxes 59 27,369
Acquisitions:    
Fair value of tangible assets acquired in acquisitions, net of cash and restricted cash received 35,868 27,674
Goodwill 274,560 149,941
Intangible assets 228,000 96,180
Liabilities assumed (61,937) (33,524)
Earn-out liabilities 0 (12,122)
Net cash paid for acquisitions 476,491 228,149
Supplemental disclosures of non-cash investing and financing activities:    
Purchase of fixed assets recorded in accounts payable and accrued expenses $ 1,225 $ 2,352