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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 61,000 $ 48,329
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,692 11,225
Bad debt expense 102 1,730
Deferred income taxes (766) 69
Stock-based compensation expense 28,703 23,694
Excess tax benefit on stock-based compensation plans 0 (4,350)
Other (1,550) 1,003
(Increase) decrease in operating assets:    
Accounts receivable (4,630) (5,466)
Unbilled revenues (44,133) 1,623
Prepaid expenses and other assets 736 194
Increase (decrease) in operating liabilities:    
Accounts payable 518 461
Accrued expenses and other liabilities (3,333) (31,915)
Due to employees 4,549 6,597
Taxes payable 4,208 (3,840)
Net cash provided by operating activities 59,096 49,354
Cash flows from investing activities:    
Purchases of property and equipment (11,441) (13,589)
Employee housing loans issued 512 941
Proceeds from repayments of employee housing loans 1,315 1,028
Decrease in restricted cash and time deposits, net 94 29,991
Acquisition of businesses, net of cash acquired (6,840) (2,515)
Other investing activities, net (190) (2,156)
Net cash (used in) provided by investing activities (17,574) 11,818
Cash flows from financing activities:    
Proceeds from stock option exercises 37,757 12,578
Excess tax benefit on stock-based compensation plans 0 4,350
Payments of withholding taxes related to net share settlements of restricted stock units (2,702) 0
Proceeds from debt (Note 4) 25,000 20,000
Repayment of debt (Note 4) (25,059) (15,060)
Acquisition of business, deferred consideration 0 (2,260)
Other financing activities, net (864) 135
Net cash provided by financing activities 34,132 19,743
Effect of exchange rate changes on cash and cash equivalents 5,822 360
Net increase in cash and cash equivalents 81,476 81,275
Cash and cash equivalents, beginning of period 362,025 199,449
Cash and cash equivalents, end of period $ 443,501 $ 280,724