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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows from Operating Activities    
Net income $ 18,351 $ 10,612
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for credit losses 5,334 444
Deferred income taxes 1,838 4,756
Non-cash equity compensation 3,275 3,826
Depreciation and amortization 8,285 8,032
Non-cash lease expense (1,143) (418)
Facilities consolidation reserve (75) (71)
Amortization of debt issuance costs 155 246
Impairment of long-lived assets 303  
Other adjustments, net 457 (348)
Changes in operating assets and liabilities, net of the effects of acquisitions:    
Net contract assets and liabilities (19,750) (17,349)
Contract receivables 2,531 40,488
Prepaid expenses and other assets 2,016 (1,070)
Accounts payable (354) (49,200)
Accrued salaries and benefits 4,715 4,453
Accrued subcontractors and other direct costs (33,466) (10,326)
Accrued expenses and other current liabilities 8,303 (5,835)
Income tax receivable and payable 3,924 (2,996)
Other liabilities 262 (476)
Net Cash Provided by (Used in) Operating Activities 4,961 (15,232)
Cash Flows from Investing Activities    
Capital expenditures for property and equipment and capitalized software (3,595) (4,704)
Payments for business acquisitions, net of cash acquired   (253,021)
Net Cash Used in Investing Activities (3,595) (257,725)
Cash Flows from Financing Activities    
Advances from working capital facilities 185,755 744,331
Payments on working capital facilities (174,674) (389,776)
Receipt of restricted contract funds 451  
Payment of restricted contract funds (27,081)  
Debt issue costs   (2,081)
Proceeds from exercise of options 2,702 37
Dividends paid (2,642) (2,639)
Net payments for stock issuances and buybacks (17,104) (23,998)
Payments on business acquisition liabilities (682)  
Net Cash (Used in) Provided by Financing Activities (33,275) 325,874
Effect of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash 745 (738)
(Decrease) Increase in Cash, Cash Equivalents, and Restricted Cash (31,164) 52,179
Cash, Cash Equivalents, and Restricted Cash, Beginning of Period 81,987 6,482
Cash, Cash Equivalents, and Restricted Cash, End of Period 50,823 58,661
Supplemental Disclosure of Cash Flow Information    
Interest 2,637 3,892
Income taxes $ 961 $ 895