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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 186,533 $ 180,291
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 32,355 26,457
Operating lease right-of-use assets amortization expense 40,203 0
Bad debt expense 133 1,765
Deferred taxes (3,105) (36,372)
Stock-based compensation expense 53,024 46,736
Other 7,522 (3,434)
Changes in assets and liabilities:    
Accounts receivable (40,753) (16,258)
Unbilled revenues (37,080) (41,544)
Prepaid expenses and other assets 237 (1,765)
Accounts payable (1,844) 1,574
Accrued expenses and other liabilities (3,092) 9,625
Operating lease liabilities (39,230) 0
Due to employees (5,627) 4,009
Taxes payable (26,410) (1,996)
Net cash provided by operating activities 162,866 169,088
Cash flows from investing activities:    
Purchases of property and equipment (52,295) (27,465)
Acquisition of businesses, net of cash acquired (Note 2) (28,655) (50,264)
Other investing activities, net (6,632) (104)
Net cash used in investing activities (87,582) (77,833)
Cash flows from financing activities:    
Proceeds from stock option exercises 28,798 32,007
Payments of withholding taxes related to net share settlements of restricted stock units (14,521) (7,068)
Repayment of debt (7) (3,485)
Acquisition of businesses, contingent consideration (1,104) 0
Other financing activities, net (19) (603)
Net cash provided by financing activities 13,147 20,851
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,753) (8,660)
Net increase in cash, cash equivalents and restricted cash 82,678 103,446
Cash, cash equivalents and restricted cash, beginning of period 771,711 582,855
Cash, cash equivalents and restricted cash, end of period $ 854,389 $ 686,301