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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities    
Net income $ 55,364 $ 59,053
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 91 11,324
Deferred income taxes 6,023 4,062
Non-cash equity compensation 10,023 9,756
Depreciation and amortization 34,139 23,712
Facilities consolidation reserve (236) (225)
Amortization of debt issuance costs 940 463
Impairment of long-lived assets   339
Other adjustments, net 474 1,818
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Net contract assets and liabilities (72,619) (16,381)
Contract receivables (31,770) (6,688)
Prepaid expenses and other assets (11,991) (9,224)
Operating lease assets and liabilities, net (1,305) (4,743)
Accounts payable 23,394 5,653
Accrued salaries and benefits (13,971) 10,377
Accrued subcontractors and other direct costs 9,441 (36,436)
Accrued expenses and other current liabilities (476) 17,002
Income tax receivable and payable (1,667) (3,490)
Other liabilities 742 (1,609)
Net Cash Provided by Operating Activities 6,596 64,763
Cash Flows from Investing Activities    
Capital expenditures for property and equipment and capitalized software (17,323) (12,279)
Payments for business acquisitions, net of cash acquired (238,991)  
Proceeds from working capital adjustments related to prior business acquisition 2,911  
Net Cash Used in Investing Activities (253,403) (12,279)
Cash Flows from Financing Activities    
Advances from working capital facilities 1,358,335 559,830
Payments on working capital facilities (1,074,888) (593,775)
Receipt of restricted contract funds 13,525 194,504
Payment of restricted contract funds (23,358) (227,700)
Debt issue costs (4,852)  
Proceeds from exercise of options 412 2,773
Dividends paid (7,912) (7,923)
Net payments for stock issuances and buybacks (21,105) (18,695)
Payments on business acquisition liabilities (1,132) (682)
Net Cash Used in Financing Activities 239,025 (91,668)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash (2,175) (501)
Decrease in Cash, Cash Equivalents, and Restricted Cash (9,957) (39,685)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 20,433 81,987
Cash, Cash Equivalents, and Restricted Cash, End of Period 10,476 42,302
Supplemental Disclosure of Cash Flow Information    
Interest 13,595 7,882
Income taxes 14,384 $ 25,062
Non-cash investing and financing transactions:    
Tenant improvements funded by lessor 20,253  
Acquisition of property and equipment through finance lease $ 15,027