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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 319,529 $ 264,377
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 68,642 69,126
Operating lease right-of-use assets amortization expense 30,842 37,336
Bad debt expense 2,739 12,888
Deferred taxes (11,760) (54,851)
Stock-based compensation expense 109,536 68,292
Unrealized (gain)/loss on derivative instruments (7,904) 20,469
Impairment charges 688 21,212
Loss on sale of business 25,922 0
Other 1,106 63,914
Changes in assets and liabilities:    
Trade receivables and contract assets 6,145 (196,675)
Prepaid and other assets 13,208 (7,787)
Accounts payable 837 8,769
Accrued expenses and other liabilities (95,570) (7,100)
Operating lease liabilities (34,310) (41,395)
Income taxes payable (38,385) 19,460
Net cash provided by operating activities 391,265 278,035
Cash flows from investing activities:    
Purchases of property and equipment (18,420) (60,134)
Purchases of short-term investments (10,865) (60,000)
Proceeds from short-term investments 10,865 0
Acquisition of business, net of cash acquired (Note 3) (13,997) (10,530)
Cash sold as part of sale of business, net of proceeds (2,169) 0
Purchases of non-marketable securities (3,281) (1,625)
Other investing activities, net (8,204) (19,499)
Net cash used in investing activities (46,071) (151,788)
Cash flows from financing activities:    
Proceeds from issuance of stock under the employee incentive programs 28,612 31,368
Payments of withholding taxes related to net share settlements of restricted stock units (28,202) (22,101)
Proceeds from debt 764 4,114
Repayment of debt (2,607) (11,542)
Repurchase of common stock (128,433) 0
Payment of contingent consideration for previously acquired business (8,684) (6,626)
Purchase of subsidiary shares from noncontrolling interest (1,972) (2,254)
Other financing activities, net (2,895) (3,025)
Net cash used in financing activities (143,417) (10,066)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (5,632) (75,876)
Net increase in cash, cash equivalents and restricted cash 196,145 40,305
Cash, cash equivalents and restricted cash, beginning of period 1,683,636 1,449,347
Cash, cash equivalents and restricted cash, end of period $ 1,879,781 $ 1,489,652