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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash Flows from Operating Activities    
Net income $ 26,851 $ 27,317
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses (92) 1,347
Deferred income taxes and unrecognized income tax benefits (2,594) (4,786)
Non-cash equity compensation 4,186 3,551
Depreciation and amortization 14,795 13,865
Gain on divestiture of a business 0 (1,715)
Other operating adjustments, net 1,435 46
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Net contract assets and liabilities (34,610) (29,024)
Contract receivables 21,340 1,604
Prepaid expenses and other assets (1,314) (192)
Operating lease assets and liabilities, net (1,862) 523
Accounts payable (37,674) (15,119)
Accrued salaries and benefits (30,465) (17,775)
Accrued subcontractors and other direct costs 2,064 3,303
Accrued expenses and other current liabilities 80 (3,988)
Income tax receivable and payable 5,235 11,375
Other liabilities (409) (333)
Net Cash Used in Operating Activities (33,034) (10,001)
Cash Flows from Investing Activities    
Payments for purchase of property and equipment and capitalized software (3,452) (5,226)
Proceeds from divestiture of a business 0 1,715
Net Cash Used in Investing Activities (3,452) (3,511)
Cash Flows from Financing Activities    
Advances from working capital facilities 512,430 355,877
Payments on working capital facilities (422,406) (311,813)
Proceeds from other short-term borrowings 2,780 24,356
Repayments of other short-term borrowings (9,172) (23,950)
Receipt of restricted contract funds 0 1,261
Payment of restricted contract funds 0 (3,391)
Dividends paid (2,620) (2,636)
Net payments for stock issuances and share repurchases (39,342) (30,355)
Other financing, net (646) (516)
Net Cash Provided by Financing Activities 41,024 8,833
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash 737 (171)
Net Change in Cash, Cash Equivalents, and Restricted Cash 5,275 (4,850)
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 18,817 9,449
Cash, Cash Equivalents, and Restricted Cash, End of Period 24,092 4,599
Supplemental Disclosure of Cash Flow Information    
Interest 4,544 7,740
Income taxes $ 1,095 $ 1,133