XML 21 R8.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 181,848 $ 145,384 $ 100,443
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 16,005 11,652 8,360
Amortization 5,114 7,876 14,829
Stock-based compensation expense 14,469 13,784 20,741
Amortization of debt issuance costs and discount 0 0 954
Noncash lease expense 16,288 13,924 9,949
Deferred income tax (benefit) provision (37,112) 527 10,050
Amortization and adjustment of deferred credit (668) (706) (801)
Other 676 (22) 1,754
Changes in assets and liabilities:      
Accounts receivable and unbilled, net (24,982) (5,530) (21,256)
Prepaid expenses and other current assets (9,134) (3,724) (7,381)
Accounts payable 1,866 (2,597) 4,730
Accrued expenses 26,156 24,231 21,824
Advanced billings 88,977 63,407 44,584
Lease liabilities (15,632) (11,506) (9,034)
Other assets and liabilities, net (544) 1,976 2,121
Net cash provided by operating activities 263,327 258,676 201,867
CASH FLOWS FROM INVESTING ACTIVITIES:      
Property and equipment expenditures (28,271) (31,340) (17,912)
Other (3,093) 126 (1,232)
Net cash used in investing activities (31,364) (31,214) (19,144)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from stock option exercises 17,643 15,992 6,520
Repurchases of common stock (62,096) (98,274) 0
Payment of debt 0 0 (80,438)
Net cash used in financing activities (44,453) (82,282) (73,918)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (3,972) 666 (167)
INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 183,538 145,846 108,638
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 277,766 131,920 23,282
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period 461,304 277,766 131,920
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION—      
Cash paid during the period for income taxes 56,243 23,105 13,235
Cash paid during the period for interest 123 104 1,489
Acquisition of property and equipment—non-cash $ 6,352 $ 18,980 $ 2,529