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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 282,810 $ 245,368 $ 181,848
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 24,129 18,989 16,005
Amortization 2,199 3,352 5,114
Stock-based compensation expense 20,516 21,412 14,469
Noncash lease expense 19,646 18,015 16,288
Deferred income tax benefit (25,117) (23,014) (37,112)
Other 2,705 (2,127) 8
Changes in assets and liabilities:      
Accounts receivable and unbilled, net (48,282) (66,920) (24,982)
Prepaid expenses and other current assets 2,986 (10,175) (9,134)
Accounts payable 1,051 6,431 1,866
Accrued expenses 82,080 52,476 26,156
Advanced billings 97,131 118,088 88,977
Lease liabilities (18,873) (15,899) (15,632)
Other assets and liabilities, net (9,607) 22,054 (544)
Net cash provided by operating activities 433,374 388,050 263,327
CASH FLOWS FROM INVESTING ACTIVITIES:      
Property and equipment expenditures (36,648) (36,879) (28,271)
Other 2,019 (1,863) (3,093)
Net cash used in investing activities (34,629) (38,742) (31,364)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from stock option exercises 11,378 22,074 17,643
Repurchases of common stock (144,020) (847,849) (62,096)
Proceeds from revolving loan 105,000 324,200 0
Payments on revolving loan (155,000) (274,200) 0
Net cash used in financing activities (182,642) (775,775) (44,453)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 1,081 (6,572) (3,972)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 217,184 (433,039) 183,538
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 28,265 461,304 277,766
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period 245,449 28,265 461,304
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION—      
Cash paid during the period for income taxes 76,353 50,164 56,243
Cash paid during the period for interest 3,056 2,935 123
Acquisition of property and equipment—non-cash $ 5,254 $ 7,838 $ 6,352