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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Net income $ 343,737 $ 328,954
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 60,308 50,359
Noncash lease expense 41,846 0
Stock-based compensation expense 26,796 23,231
Amortization of debt issuance costs and loss on extinguishment 5,083 8,150
Losses on dispositions 1,160 408
Changes in assets and liabilities:    
Accounts receivable, net of allowance (97,452) (188,392)
Deferred income taxes and income taxes receivable / payable (751) (8,736)
Prepaid expenses and other current assets (14,597) (7,236)
Other long-term assets (60) (14,067)
Accrued compensation and benefits 1,203 22,670
Accounts payable and other accrued expenses 21,849 58,059
Other current liabilities 9,053 14,903
Operating lease liabilities (35,420) 0
Other long-term liabilities 3,704 (5,100)
Net cash provided by operating activities 366,459 283,203
Cash flows from investing activities    
Purchases of property, equipment, and software (90,712) (58,076)
Payments for business acquisitions, net of cash acquired 0 (20)
Net cash used in investing activities (90,712) (58,096)
Cash flows from financing activities    
Proceeds from issuance of common stock 10,843 8,104
Stock option exercises 7,440 9,371
Repurchases of common stock (37,199) (181,413)
Cash dividends paid (102,943) (81,807)
Repayment of debt (57,456) (116,031)
Proceeds from debt issuance 397,892 62,072
Payment of deferred payment obligation (80,000) 0
Other financing activities (1,493) (502)
Net cash provided by (used in) financing activities 137,084 (300,206)
Net increase (decrease) in cash and cash equivalents 412,831 (75,099)
Cash and cash equivalents––beginning of period 283,990 286,958
Cash and cash equivalents––end of period 696,821 211,859
Net cash paid during the period for:    
Interest 69,627 62,067
Income taxes 107,149 77,475
Supplemental disclosures of non-cash investing and financing activities    
Noncash financing activities $ 4,501 $ 3,033