XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Cash flows from operating activities      
Net income $ 71,273 $ 65,202  
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for deferred income taxes 7,894 6,269  
Depreciation and amortization 10,607 4,385  
Deferred financing costs and derivative and accretion expense 1,171 983  
Stock-based and deferred compensation 4,792 9,471  
Change in fair value of contingent consideration obligations (3,500) 2,500  
Unrealized depreciation (appreciation) on investments 452 (2,720)  
Noncash lease expense 94    
Loss on equity method investment 57 92  
Loss on debt extinguishment 1,555 2,781  
Changes in operating assets and liabilities:      
Receivables 4,210 (6,730)  
Prepaid expenses (1,260) (695)  
Other assets (80)    
Accounts payable and accrued expenses (8,819) 13,573  
Accrued compensation and benefits (13,487) (14,987)  
Other liabilities (146) (490)  
Net cash provided by operating activities 74,813 79,634  
Cash flows from investing activities      
Purchases of property and equipment (1,176) (393)  
Purchases of investments (2,365) (2,626)  
Sales of investments 1,249 1,909  
Purchase of equity method investment (1,500)    
Acquisition of business and assets, net of cash acquired (327) (30)  
Net cash used in investing activities (4,119) (1,140)  
Cash flows from financing activities      
Issuance of common stock 1,302 834  
Repurchase of common stock (10,193) (7,661)  
Payments of taxes related to net share settlement of equity awards (5,373) (7,614)  
Repayment of long-term senior debt (70,000) (50,000)  
Payment of dividends (17,381) (6,393)  
Net cash used in financing activities (101,645) (70,834)  
Effect of changes of foreign exchange rate on cash and cash equivalents (32) (18)  
Net increase in cash and cash equivalents (30,983) 7,642  
Cash and cash equivalents, beginning of period 69,533 22,744 $ 22,744
Cash and cash equivalents, end of period 38,550 30,386 $ 69,533
Supplemental cash flow information      
Cash paid for interest 7,074 8,096  
Cash paid for income taxes 1,012 $ 831  
Noncash items      
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities $ 2,991