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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Cash flow from operating activities:      
Net income from consolidated operations $ 141,923 $ 506,239 $ 214,310
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity-based compensation 32,640 15,882 8,157
Depreciation and amortization 32,662 11,004 2,962
Provision for credit losses 32,596 8,931 1,170
Noncash lease expense 4,913 1,154 409
Loss on disposal of fixed asset 502 850 672
Amortization of premium of marketable securities 4,767 7,596 857
Deferred taxes (8,280) (8,188) (1,775)
Unrecognized tax benefits 9,111 348 377
Net loss on marketable securities 692 1,186 90
Equity loss in investee     488
(Gain) loss on equity-method investments   (3,734) 4,354
Other (11) (15) 8
Changes in operating assets and liabilities:      
Trade accounts receivable 68,638 42,300 (178,480)
Other current and long-term assets (4,337) 7,804 (21,149)
Accounts payable (25,339) (12,206) 22,617
Accrued liabilities and other liabilities (31,299) 13,081 32,655
Income tax payable (827) (52,532) 53,295
Operating and finance lease liabilities (4,831) (1,123) (389)
Net cash provided by operating activities 253,520 538,577 140,628
Cash flow from investing activities:      
Purchases of fixed assets (18,775) (23,812) (35,130)
Purchases of intangible assets   (32)  
Proceeds from sale of fixed assets 412 63 8
Purchase of marketable securities (417,982) (710,490) (324,359)
Purchase of preferred stock of privately held company (15,000)    
Contingent consideration payout related to a business acquisition (10,000)    
Purchase of redeemable preferred stock   (20,000)  
Maturities of marketable securities 232,534 83,842 19,919
Proceeds from sale of marketable securities 140,176 185,749 17,095
Acquisition of businesses, net of cash acquired (172,679) (61,868)  
Investment in equity-method investees     (3,971)
Net cash used in investing activities (261,314) (546,548) (326,438)
Cash flow from financing activities:      
Repurchase of common stock (74,337)    
Common stock withholding for employee tax obligations (1,768) (4,155) (62)
Proceeds from public offerings of common stock, net of issuance costs   89,475 246,190
Proceeds from noncontrolling interest   10  
Proceeds from exercise of stock options 31 86 104
Principal paid for finance leases (700) (7)  
Repayment of notes payable (367) (4)  
Borrowing under margin account     15,019
Net cash (used in) provided by financing activities (77,141) 85,405 261,251
Effect of exchange rate changes on cash and cash equivalents (453) 34 20
Net (decrease) increase in cash and cash equivalents (85,388) 77,468 75,461
Cash and cash equivalents at beginning of period 164,894 87,426 11,965
Cash and cash equivalents at end of period 79,506 164,894 87,426
Supplemental disclosures of cash flow information:      
Income taxes paid 56,193 237,069 20,612
Supplemental disclosures of non-cash investing and financing activities:      
Stock consideration in a business combination 28,111    
Maturities of marketable securities in other current assets 19,120    
Purchases of fixed assets in notes payable 3,833    
Purchases of fixed assets in accounts payable 2,989 1,075 3,402
Finance lease right-of-use assets obtained in exchange for lease liabilities 573 1,693  
Operating lease right-of-use assets reduced due to lease modification or termination 66 399 1,853
Operating lease right-of-use assets obtained in exchange for lease liabilities $ 52 1,797 402
Contingent consideration for business acquisition included in current liabilities   10,000  
Public offerings proceeds in other receivable included in other current assets     17,799
Public offerings costs included in accounts payable   $ 5 $ 359