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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:    
Net income $ 102,292 $ 89,719
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:    
Depreciation and amortization expense 22,782 24,259
Operating lease right-of-use assets amortization expense 10,043 14,787
Bad debt expense 182 8,675
Deferred taxes 823 (10,830)
Stock-based compensation expense 38,579 7,112
Unrealized (gain)/loss on derivative (7,904) 41,369
Impairment charges 88 20,401
Other (3,268) 3,361
Changes in assets and liabilities:    
Trade receivables and contract assets (3,573) (144,783)
Prepaid and other assets (105) (9,515)
Accounts payable 1,494 (4,633)
Accrued expenses and other liabilities (58,463) (74,929)
Operating lease liabilities (10,672) (14,171)
Income taxes payable (4,964) (2,670)
Net cash provided by/(used in) operating activities 87,334 (51,848)
Cash flows from investing activities:    
Purchases of property and equipment (7,913) (23,274)
Acquisition of business, net of cash acquired 0 (8,207)
Purchases of non-marketable securities (1,906) 0
Other investing activities, net (7,898) (3,082)
Net cash used in investing activities (17,717) (34,563)
Cash flows from financing activities:    
Proceeds from issuance of stock under the employee incentive programs 2,488 3,395
Payments of withholding taxes related to net share settlements of restricted stock units (3,153) (3,876)
Proceeds from debt 172 1,931
Repayment of debt (1,411) (6,836)
Repurchase of common stock (8,510) 0
Payment of contingent consideration for previously acquired business (4,678) (207)
Purchase of noncontrolling interest 0 (2,146)
Other financing activities, net (226) (1,865)
Net cash used in financing activities (15,318) (9,604)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 14,070 (45,407)
Net increase/(decrease) in cash, cash equivalents and restricted cash 68,369 (141,422)
Cash, cash equivalents and restricted cash, beginning of period 1,683,636 1,449,347
Cash, cash equivalents and restricted cash, end of period $ 1,752,005 $ 1,307,925