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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities    
Net income $ 27,317 $ 16,398
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 1,347 567
Deferred income taxes and unrecognized income tax benefits (4,786) 2,187
Non-cash equity compensation 3,551 3,750
Depreciation and amortization 13,865 15,533
Gain on divestiture of a business (1,715)  
Other operating adjustments, net 46 393
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Net contract assets and liabilities (29,024) (18,716)
Contract receivables 1,604 10,929
Prepaid expenses and other assets (192) 15,353
Operating lease assets and liabilities, net 523 1,016
Accounts payable (15,119) (26,083)
Accrued salaries and benefits (17,775) (24,678)
Accrued subcontractors and other direct costs 3,303 (2,613)
Accrued expenses and other current liabilities (3,988) (14,688)
Income tax receivable and payable 11,375 3,192
Other liabilities (333) 629
Net Cash Used in Operating Activities (10,001) (16,831)
Cash Flows from Investing Activities    
Payments for purchase of property and equipment and capitalized software (5,226) (6,441)
Payments for business acquisitions, net of cash acquired   (459)
Proceeds from divestiture of a business 1,715  
Net Cash Used in Investing Activities (3,511) (6,900)
Cash Flows from Financing Activities    
Advances from working capital facilities 355,877 334,995
Payments on working capital facilities (311,813) (293,640)
Proceeds from other short-term borrowings 24,356 2,483
Repayments of other short-term borrowings (23,950)  
Receipt of restricted contract funds 1,261 2,916
Payment of restricted contract funds (3,391) (1,131)
Dividends paid (2,636) (2,641)
Net payments for stock issuances and share repurchases (30,355) (22,815)
Other financing, net (516) (479)
Net Cash Provided by Financing Activities 8,833 19,688
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash (171) 11
Decrease in Cash, Cash Equivalents, and Restricted Cash (4,850) (4,032)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 9,449 12,968
Cash, Cash Equivalents, and Restricted Cash, End of Period 4,599 8,936
Supplemental Disclosure of Cash Flow Information    
Interest 7,740 5,924
Income taxes $ 1,133 $ 914