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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Jun. 30, 2021
Dec. 31, 2020
Current Assets:    
Cash and cash equivalents $ 9,603 $ 13,841
Restricted cash [1] 26,307 68,146
Contract receivables, net 242,562 222,850
Contract assets 150,390 143,369
Prepaid expenses and other assets 25,784 25,492
Income tax receivable 8,717 1,977
Total Current Assets 463,363 475,675
Property and Equipment, net 53,083 62,434
Other Assets:    
Goodwill 910,640 909,913
Other intangible assets, net 53,899 59,887
Operating lease - right-of-use assets 111,755 127,132
Other assets 40,049 32,249
Total Assets 1,632,789 1,667,290
Current Liabilities:    
Current portion of long-term debt 10,000 10,000
Accounts payable 94,939 91,365
Contract liabilities 35,700 42,050
Operating lease liabilities - current 35,128 23,350
Accrued salaries and benefits 82,297 80,512
Accrued subcontractors and other direct costs 41,610 78,842
Accrued expenses and other current liabilities 67,252 100,908
Total Current Liabilities 366,926 427,027
Long-term Liabilities:    
Long-term debt 321,681 303,214
Operating lease liabilities - non-current 96,746 115,614
Deferred income taxes 37,790 34,330
Other long-term liabilities 38,135 40,144
Total Liabilities 861,278 920,329
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; 23,483,971 and 23,305,255 shares issued at June 30, 2021 and December 31, 2020, respectively; 18,859,735 and 18,909,983 shares outstanding at June 30, 2021 and December 31, 2020, respectively 23 23
Additional paid-in capital 376,622 369,058
Retained earnings 622,113 588,731
Treasury stock, 4,624,236 and 4,395,272 shares at June 30, 2021 and December 31, 2020, respectively (216,353) (196,745)
Accumulated other comprehensive loss (10,894) (14,106)
Total Stockholders’ Equity 771,511 746,961
Total Liabilities and Stockholders’ Equity $ 1,632,789 $ 1,667,290
[1] Under a contract with a customer that commenced in the fourth quarter of fiscal year 2020, the Company received advance payments to be used to pay providers of services 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 of services 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.”