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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 8,592 $ 13,841
Restricted cash [1] 42,231 68,146
Contract receivables, net 214,291 222,850
Contract assets 164,155 143,369
Prepaid expenses and other assets 22,115 25,492
Income tax receivable   1,977
Total Current Assets 451,384 475,675
Property and Equipment, net 60,294 62,434
Other Assets:    
Goodwill 910,359 909,913
Other intangible assets, net 56,900 59,887
Operating lease - right-of-use assets 119,250 127,132
Other assets 32,572 32,249
Total Assets 1,630,759 1,667,290
Current Liabilities:    
Current portion of long-term debt 10,000 10,000
Accounts payable 90,894 91,365
Contract liabilities 43,589 42,050
Operating lease liabilities - current 28,881 23,350
Accrued salaries and benefits 85,134 80,512
Accrued subcontractors and other direct costs 45,110 78,842
Accrued expenses and other current liabilities 77,318 100,908
Income taxes payable 2,402  
Total Current Liabilities 383,328 427,027
Long-term Liabilities:    
Long-term debt 314,451 303,214
Operating lease liabilities - non-current 106,551 115,614
Deferred income taxes 36,966 34,330
Other long-term liabilities 38,230 40,144
Total Liabilities 879,526 920,329
Commitments and Contingencies (Note 18)
Stockholders’ Equity:    
Preferred stock, par value $.001; 5,000,000 shares authorized; none issued
Common stock, par value $.001; 70,000,000 shares authorized; 23,461,587 and 23,305,255 shares issued at March 31, 2021 and December 31, 2020, respectively; 18,859,608 and 18,909,983 shares outstanding at March 31, 2021 and December 31, 2020, respectively 23 23
Additional paid-in capital 372,420 369,058
Retained earnings 604,441 588,731
Treasury stock, 4,601,979 and 4,395,272 shares at March 31, 2021 and December 31, 2020, respectively (214,325) (196,745)
Accumulated other comprehensive loss (11,326) (14,106)
Total Stockholders’ Equity 751,233 746,961
Total Liabilities and Stockholders’ Equity $ 1,630,759 $ 1,667,290
[1] Under a contract with a customer commencing in the fourth quarter of fiscal year 2020, the Company received advance payments to be used to pay providers of service to the customer, a separate third-party. The advanced payments are treated as restricted cash as the Company is required under the contract to distribute the advanced funds to the third-party providers 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 borrowings and recorded in restricted cash and accrued expenses and other current 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.”