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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 211,925 $ 157,951
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for deferred income taxes 26,651 17,232
Depreciation and amortization 22,662 33,663
Deferred financing costs, accretion expense and derivative gains/losses (9,271) 3,171
Stock-based and deferred compensation 15,856 15,135
Change in fair value of contingent consideration obligations 2,400 19,236
Unrealized appreciation on investments (2,475) (693)
Loss on debt extinguishment 100 0
Changes in operating assets and liabilities:    
Receivables (11,098) (10,681)
Prepaid expenses (2,147) (358)
Other assets (551) (2,220)
Accounts payable and accrued expenses 6,770 8,388
Accrued compensation and benefits (10,751) (7,125)
Other liabilities (1,903) (509)
Net cash provided by operating activities 248,168 233,190
Cash flows from investing activities    
Purchases of property and equipment (1,123) (4,373)
Purchases of investments (10,241) (9,362)
Sales of investments 9,781 7,464
Net cash used in investing activities (1,583) (6,271)
Cash flows from financing activities    
Issuance of common stock 7,199 5,414
Repurchase of common stock (6,722) (81,821)
Payments of taxes related to net share settlement of equity awards (18,954) (15,916)
Payment of debt financing fees (1,024) 0
Repayments and repurchases of long-term senior debt (9,519) 0
Payment of dividends (72,990) (64,769)
Payment of consideration for acquisition (80,000) 0
Net cash used in financing activities (182,010) (157,092)
Effect of changes of foreign exchange rate on cash and cash equivalents 126 (11)
Net increase in cash and cash equivalents 64,701 69,816
Cash and cash equivalents, beginning of period 123,547 38,171
Cash and cash equivalents, end of period 188,248 107,987
Supplemental cash flow information    
Cash paid for interest 58,957 51,181
Cash paid for income taxes 39,791 34,007
Noncash items    
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities $ 14,519 $ 0