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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 23,641 $ 23,899
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 6,672 5,102
Bad debt (recovery)/expense (517) 552
Deferred taxes 2,595 (482)
Stock-based compensation expense 15,776 10,964
Excess tax benefit on stock-based compensation plans 0 (2,040)
Other 651 50
(Increase)/decrease in operating assets:    
Accounts receivable 24,635 16,993
Unbilled revenues (39,485) (18,559)
Prepaid expenses and other assets (79) (1,383)
Increase/(decrease) in operating liabilities:    
Accounts payable 77 671
Accrued expenses and other liabilities (18,484) (34,153)
Due to employees 8,611 12,420
Taxes payable 7,135 (3,173)
Net cash provided by operating activities 31,228 10,861
Cash flows from investing activities:    
Purchases of property and equipment (5,725) (6,185)
Employee housing loans issued 370 0
Proceeds from repayments of employee housing loans 689 470
Decrease in restricted cash and time deposits, net 38 30,000
Increase in other long-term assets, net (313) (774)
Other investing activities, net 37 (91)
Net cash (used in)/provided by investing activities (5,644) 23,420
Cash flows from financing activities:    
Proceeds from stock option exercises 10,606 3,108
Excess tax benefit on stock-based compensation plans 0 2,040
Payments of withholding taxes related to net share settlements of restricted stock units (2,694) 0
Proceeds from debt (Note 4) 0 20,000
Repayment of debt (Note 4) (30) (15,031)
Proceeds from government grants 0 135
Acquisition of business, deferred consideration 0 (463)
Net cash provided by financing activities 7,882 9,789
Effect of exchange rate changes on cash and cash equivalents 2,928 1,358
Net increase in cash and cash equivalents 36,394 45,428
Cash and cash equivalents, beginning of period 362,025 199,449
Cash and cash equivalents, end of period $ 398,419 $ 244,877