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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flow from operating activities:    
Net income from consolidated operations $ 164,656 $ 280,338
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity-based compensation 13,646 6,488
Depreciation and amortization 13,040 4,340
Provision for credit losses 18,734 3,259
Noncash lease expense 1,710 298
Loss on disposal of fixed asset 309 598
Amortization of premium of marketable securities 3,223 3,171
Deferred taxes (7,639) (3,055)
Unrecognized tax benefits 1,005 128
Net loss on marketable securities 617 360
Gain on equity method investment   (3,734)
Other (17) (8)
Changes in operating assets and liabilities:    
Trade accounts receivable 1,802 32,460
Other current and long-term assets (1,854) (6,025)
Accounts payable (10,258) (10,256)
Income tax payable 1,978 (26,920)
Accrued liabilities and other liabilities 264 28,141
Operating and finance lease liabilities (1,679) (293)
Net cash provided by operating activities 199,537 309,290
Cash flow from investing activities:    
Purchase of marketable securities (245,488) (424,807)
Acquisition of businesses, net of cash acquired (137,755) (18,509)
Investment in private equity securities (15,000)  
Contingent consideration payout related to a business acquisition (10,000)  
Purchases of fixed assets (8,618) (14,427)
Proceeds from sale of fixed assets 18 13
Maturities of marketable securities 70,432 34,538
Proceeds from sale of marketable securities 133,407 51,696
Net cash used in investing activities (213,004) (371,496)
Cash flow from financing activities:    
Repurchase of common stock (10,577)  
Common stock withholding for employee tax obligations (930) (552)
Repayment of notes payable (368)  
Principal paid for finance lease (230)  
Proceeds from exercise of stock options 19 68
Proceeds from public offerings of common stock, net of issuance costs   75,656
Proceeds from noncontrolling interest   10
Borrowing under margin account   58
Net cash (used in) provided by financing activities (12,086) 75,240
Effect of exchange rate changes on cash and cash equivalents (561) 1
Net (decrease) increase in cash and cash equivalents (26,114) 13,035
Cash and cash equivalents at beginning of period 164,894 87,426
Cash and cash equivalents at end of period 138,780 100,461
Supplemental disclosures of cash flow information:    
Income taxes paid 54,982 119,980
Supplemental disclosures of non-cash investing and financing activities:    
Purchases of fixed assets in accounts payable 2,158 742
Purchases of fixed assets in notes payable $ 3,833  
Operating lease right-of-use assets obtained in exchange for lease liabilities   765
Operating lease right-of-use assets reduced due to lease modification and termination   185
Public offerings costs included in accounts payable   $ 30