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CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash and cash equivalents $ 7,392 $ 8,254
Restricted cash - current [1] 1,681 12,179
Contract receivables, net 205,827 237,684
Contract assets 189,147 137,867
Prepaid expenses and other assets 41,176 42,354
Income tax receivable 8,288 10,825
Total Current Assets 453,511 449,163
Property and Equipment, net 62,886 52,053
Other Assets:    
Goodwill 1,045,503 1,046,760
Other intangible assets, net 74,274 79,645
Operating lease - right-of-use assets 172,133 177,417
Other assets 49,416 44,496
Total Assets 1,857,723 1,849,534
Current Liabilities:    
Current portion of long-term debt 10,000 10,000
Accounts payable 95,706 105,652
Contract liabilities 31,491 39,665
Operating lease liabilities - current 30,530 34,901
Accrued salaries and benefits 94,931 85,517
Accrued subcontractors and other direct costs 40,165 39,400
Accrued expenses and other current liabilities 41,388 61,496
Total Current Liabilities 344,211 376,631
Long-term Liabilities:    
Long-term debt 449,776 411,605
Operating lease liabilities - non-current 189,857 191,805
Deferred income taxes 47,684 41,913
Other long-term liabilities 22,893 24,110
Total Liabilities 1,054,421 1,046,064
Commitments and Contingencies (Note 19)
Stockholders’ Equity:    
Preferred stock, par value $.001; 5,000,000 shares authorized; none issued
Common stock, par value $.001; 70,000,000 shares authorized; 23,679,411 and 23,535,671 shares issued at March 31, 2022 and December 31, 2021, respectively; 18,793,455 and 18,876,490 shares outstanding at March 31, 2022 and December 31, 2021, respectively 23 23
Additional paid-in capital 388,639 384,984
Retained earnings 664,532 649,298
Treasury stock, 4,885,956 and 4,659,181 shares at March 31, 2022 and December 31, 2021, respectively (241,516) (219,800)
Accumulated other comprehensive loss (8,376) (11,035)
Total Stockholders’ Equity 803,302 803,470
Total Liabilities and Stockholders’ Equity $ 1,857,723 $ 1,849,534
[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 - current 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 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.” See Note 6 – Accrued Expenses and Other Current Liabilities for the corresponding liability.