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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Oct. 31, 2019
Oct. 31, 2018
Cash flows from operating activities:    
Net income $ 86,682 $ 8,725
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 25,492 22,749
Stock-based compensation expense 11,520 12,369
Tradename write-offs   106,555
Provision for doubtful accounts 7,150 7,471
Gain on cash surrender value of life insurance policies (4,209) (3,003)
(Gain) loss on marketable securities (3,121) 836
Deferred income taxes 6,402 (19,838)
Change in other assets and liabilities:    
Deferred compensation 14,817 (1,646)
Receivables due from clients (60,556) (52,536)
Income taxes and other receivables (13,468) 345
Prepaid expenses and other assets (8,140) (5,326)
Unearned compensation (26,576) (21,103)
Income taxes payable (6,139) (5,898)
Accounts payable and accrued liabilities (133,444) (76,544)
Other (508) (5,345)
Net cash used in operating activities (104,098) (32,189)
Cash flows from investing activities:    
Purchase of property and equipment (23,817) (24,565)
Purchase of marketable securities (3,826) (8,539)
Proceeds from sales/maturities of marketable securities 3,016 8,923
Premium on company-owned life insurance policies (355) (33,752)
Proceeds from life insurance policies 1,999 4,517
Dividends received from unconsolidated subsidiaries 166  
Net cash used in investing activities (22,817) (53,416)
Cash flows from financing activities:    
Proceeds from long term debt 50,000  
Repurchases of common stock (61,929) (22,745)
Payments of tax withholdings on restricted stock (8,725) (13,184)
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan 4,313 4,105
Payments on life insurance policy loans (943) (2,567)
Principal payments on finance leases (927)  
Dividends paid to shareholders (11,709) (11,743)
Dividends - noncontrolling interest (1,046) (690)
Borrowings under life insurance policies   31,870
Principal payments on term loan   (12,031)
Payment of contingent consideration from acquisitions (455) (455)
Net cash used in financing activities (31,421) (27,440)
Effect of exchange rate changes on cash and cash equivalents (3,601) (20,124)
Net decrease in cash and cash equivalents (161,937) (133,169)
Cash and cash equivalents at beginning of period 626,360 520,848
Cash and cash equivalents at end of the period $ 464,423 $ 387,679