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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 94,588 $ 100,399
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 25,230 26,464
Stock-based compensation expense 35,947 25,918
Reduction in the carrying amount of operating lease right-of-use assets 10,349 10,332
Fair value mark-to-market of investments (301) 7,222
Unrealized foreign currency exchange (gain)/loss, net (2,919) 1,288
Deferred income tax benefit (17,076) (18,283)
Others, net (70) 1,681
Change in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (20,008) (28,375)
Other current and non-current assets (14,507) (17,159)
Income taxes payable, net (4,922) (10,610)
Deferred revenue 3,138 5,380
Accrued employee costs (35,128) (24,331)
Accounts payable, accrued expenses and other liabilities (639) (5,538)
Operating lease liabilities (9,645) (10,829)
Payment of contingent consideration (11,000) 0
Net cash provided by operating activities 53,037 63,559
Cash flows from investing activities:    
Purchases of property and equipment (23,329) (26,113)
Proceeds from sale of property and equipment 90 547
Purchases of investments (159,854) (113,826)
Proceeds from redemption of investments 139,844 151,178
Net cash (used for)/provided by investing activities (43,249) 11,786
Cash flows from financing activities:    
Principal payments of finance lease liabilities (132) (80)
Proceeds from borrowings 180,000 70,000
Repayments of borrowings (45,000) (100,000)
Acquisition of treasury stock (160,647) (70,638)
Payment of contingent consideration (4,000) (5,000)
Proceeds from issuance of common stock 2,474 3,885
Net cash used for financing activities (27,305) (101,833)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (1,844) 1,510
Net decrease in cash, cash equivalents and restricted cash (19,361) (24,978)
Cash, cash equivalents and restricted cash at the beginning of the period 141,015 123,566
Cash, cash equivalents and restricted cash at the end of the period 121,654 98,588
Cash paid during the period for:    
Interest 8,940 6,914
Income taxes 50,161 53,299
Supplemental disclosure of non-cash investing and financing activities:    
Additions to property and equipment not yet paid 3,140 6,332
Assets acquired under finance lease $ 581 $ 91