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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash Flows from Operating Activities    
Net income $ 36,710 $ 36,259
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 837 (172)
Deferred income taxes (4,823) 4,741
Non-cash equity compensation 6,688 6,507
Depreciation and amortization 31,646 20,181
Facilities consolidation reserve   (156)
Amortization of debt issuance costs 651 617
Impairment of long-lived assets 888  
Other adjustments, net (1,411) 868
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Net contract assets and liabilities (38,332) (71,612)
Contract receivables 8,856 17,520
Prepaid expenses and other assets 13,864 (5,758)
Operating lease assets and liabilities, net 2,894 (997)
Accounts payable (22,742) (5,801)
Accrued salaries and benefits 405 1,512
Accrued subcontractors and other direct costs (2,173) 6,754
Accrued expenses and other current liabilities (18,311) (3,253)
Income tax receivable and payable 3,999 (1,572)
Other liabilities 233 771
Net Cash Provided by Operating Activities 19,879 6,409
Cash Flows from Investing Activities    
Capital expenditures for property and equipment and capitalized software (13,139) (11,026)
Proceeds from working capital adjustments related to prior business acquisition   2,911
Payments for business acquisitions, net of cash acquired (32,664)  
Net Cash Used in Investing Activities (45,803) (8,115)
Cash Flows from Financing Activities    
Advances from working capital facilities 669,437 869,529
Payments on working capital facilities (624,553) (838,259)
Proceeds from other short-term borrowings 7,632  
Repayments of other short-term borrowings (2,483)  
Receipt of restricted contract funds 4,940 10,967
Payment of restricted contract funds (3,962) (20,550)
Debt issue costs   (4,776)
Payments of principal portion of finance leases (1,183)  
Proceeds from exercise of options 278 194
Dividends paid (5,271) (5,280)
Net payments for stock issuances and buybacks (20,588) (20,778)
Payments on business acquisition liabilities   (121)
Net Cash Provided by (Used in) Financing Activities 24,247 (9,074)
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash 179 (1,189)
Decrease in Cash, Cash Equivalents, and Restricted Cash (1,498) (11,969)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 12,968 20,433
Cash, Cash Equivalents, and Restricted Cash, End of Period 11,470 8,464
Supplemental Disclosure of Cash Flow Information    
Interest 19,129 6,473
Income taxes $ 8,450 12,373
Non-cash investing and financing transactions:    
Tenant improvements funded by lessor   $ 20,243