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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income (loss) $ 59,647 $ 58,468
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization 18,653 20,578
Non-cash lease expense 4,840 4,768
Lease-related impairment charges 5,584 0
Share-based compensation 35,398 23,083
Amortization of debt discount and issuance costs 577 595
Allowances for doubtful accounts 53 47
Deferred income taxes 890 7,133
Gain on sale of property, plant and equipment 61 1,117
Change in fair value of contingent consideration liabilities (251) (34)
Change in fair value of preferred stock investment 0 (26,964)
Other Noncash Income (Expense) 0 6
Changes in operating assets and liabilities, net of acquisitions and divestiture:    
(Increase) decrease in receivables from clients, net (18,508) (44,759)
(Increase) decrease in unbilled services, net (51,092) (31,937)
(Increase) decrease in current income tax receivable / payable, net (4,365) 14,704
(Increase) decrease in other assets (6,243) 3,468
Increase (decrease) in accounts payable and other liabilities (5,361) (14,538)
Increase (decrease) in accrued payroll and related benefits 10,805 (18,883)
Increase (decrease) in deferred revenues 4,328 (397)
Net cash provided by (used in) operating activities 54,894 (5,779)
Cash flows from investing activities:    
Purchases of property and equipment (5,147) (9,768)
Payment to Acquire Life Insurance Policy, Investing Activities (2,601) (283)
Proceeds from Life Insurance Policy 2,956 2,958
Purchases of businesses (1,613) (1,948)
Capitalization of internally developed software costs (19,610) (6,855)
Proceeds from Sale and Collection of Notes Receivable 154 157
Proceeds from sale of property and equipment 62 4,753
Divestiture of business 0 207
Net cash used in investing activities (25,799) (10,779)
Cash flows from financing activities:    
Proceeds from exercises of stock options 987 1,421
Shares redeemed for employee tax withholdings (10,050) (7,540)
Share repurchases (88,897) (95,474)
Proceeds from bank borrowings 292,000 287,000
Repayments of bank borrowings (224,000) (178,780)
Payments for debt issuance costs (58) 0
Deferred payments on business acquisition (1,500) (1,875)
Net cash provided by (used in) financing activities (31,518) 4,752
Effect of exchange rate changes on cash (13) (144)
Net decrease in cash and cash equivalents (2,436) (11,950)
Cash and cash equivalents at beginning of the period 11,834 20,781
Cash and cash equivalents at end of the period 9,398 8,831
Non-cash investing and financing activities:    
Property and equipment expenditures and capitalized software included in current liabilities 5,308 3,474
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 2,320 1,908
Stock Issued 1,646 0
Contingent consideration accrued related to purchases of businesses 374 869
Share repurchases included in current liabilities 0 2,572
Excise Taxes On Share Repurchases Incurred But Not Paid $ 643 $ 0