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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Sep. 30, 2022
Dec. 31, 2021
Current Assets:    
Cash and cash equivalents $ 8,483 $ 8,254
Restricted cash [1] 1,993 12,179
Contract receivables, net 282,271 237,684
Contract assets 196,811 137,867
Prepaid expenses and other assets 30,612 42,354
Income tax receivable 11,979 10,825
Total Current Assets 532,149 449,163
Property and Equipment, net 85,295 52,053
Other Assets:    
Goodwill 1,190,450 1,046,760
Other intangible assets, net 135,932 79,645
Operating lease - right-of-use assets 163,438 177,417
Other assets 50,496 44,496
Total Assets 2,157,760 1,849,534
Current Liabilities:    
Current portion of long-term debt 20,500 10,000
Accounts payable 128,528 105,652
Contract liabilities 24,599 39,665
Operating lease liabilities - current 22,959 34,901
Finance lease liabilities - current 1,779  
Accrued salaries and benefits 74,766 85,517
Accrued subcontractors and other direct costs 46,610 39,400
Accrued expenses and other current liabilities 52,249 61,496
Total Current Liabilities 371,990 376,631
Long-term Liabilities:    
Long-term debt 681,197 411,605
Operating lease liabilities - non-current 187,481 191,805
Finance lease liabilities - non-current 13,270  
Deferred income taxes 46,449 41,913
Other long-term liabilities 19,634 24,110
Total Liabilities 1,320,021 1,046,064
Commitments and Contingencies (Note 19)
Stockholders’ Equity:    
Preferred stock, par value $.001; 5,000,000 shares authorized; none issued
Common stock, par value $.001; 70,000,000 shares authorized; 23,723,490 and 23,535,671 shares issued at September 30, 2022 and December 31, 2021, respectively; 18,833,688 and 18,876,490 shares outstanding at September 30, 2022 and December 31, 2021, respectively 23 23
Additional paid-in capital 396,962 384,984
Retained earnings 696,792 649,298
Treasury stock, 4,889,802 and 4,659,181 shares at September 30, 2022 and December 31, 2021, respectively (241,896) (219,800)
Accumulated other comprehensive loss (14,142) (11,035)
Total Stockholders’ Equity 837,739 803,470
Total Liabilities and Stockholders’ Equity $ 2,157,760 $ 1,849,534
[1] Under a contract with a customer that commenced in the fourth quarter of fiscal year 2020, the Company received advance payments to be used to pay providers of services to the customer, a separate third party. The advanced payments are treated as restricted cash - current as the Company is required under the contract to distribute the advanced funds to the third-party providers of services or return the advanced funds to the customer. Because the Company receives the advance payments from the customer, which must be refunded to the customer or remitted to a third party, the cash receipts are treated as liabilities rather than receipts for the provision of goods or services. Therefore, these cash receipts are presented in the consolidated statements of cash flows as financing cash inflows, “Receipt of restricted contract funds,” with the subsequent payments classified as financing cash outflows, “Payment of restricted contract funds.” See Note 6Accrued Expenses and Other Current Liabilities for the corresponding liability.