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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Oct. 31, 2020
Oct. 31, 2019
Cash flows from operating activities:    
Net income (loss) $ (2,777) $ 86,682
Adjustments to reconcile net (loss) income to net cash used by operating activities:    
Depreciation and amortization 30,333 25,492
Stock-based compensation expense 13,195 11,520
Provision for doubtful accounts 7,993 7,150
Gain on cash surrender value of life insurance policies (3,899) (4,209)
Gain on marketable securities (12,025) (3,121)
Deferred income taxes 5,071 6,402
Change in other assets and liabilities:    
Deferred compensation 22,670 14,817
Receivables due from clients (46,221) (60,556)
Income taxes and other receivables (13,755) (13,468)
Prepaid expenses and other assets (4,135) (8,140)
Unearned compensation (33,630) (26,576)
Income taxes payable (11,964) (6,139)
Accounts payable and accrued liabilities (52,622) (133,444)
Other 9,716 (508)
Net cash used in operating activities (92,050) (104,098)
Cash flows from investing activities:    
Purchase of property and equipment (15,329) (23,817)
Purchase of marketable securities (40,572) (3,826)
Proceeds from sales/maturities of marketable securities 32,343 3,016
Premium on company-owned life insurance policies (361) (355)
Proceeds from life insurance policies 591 1,999
Dividends received from unconsolidated subsidiaries   166
Net cash used in investing activities (23,328) (22,817)
Cash flows from financing activities:    
Proceeds from long term debt   50,000
Payments of tax withholdings on restricted stock (4,550) (8,725)
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan 3,371 4,313
Payments on life insurance policy loans (596) (943)
Principal payments on finance leases (664) (927)
Dividends paid to shareholders (11,414) (11,709)
Dividends - noncontrolling interest (558) (1,046)
Repurchases of common stock (22,770) (61,929)
Payment of contingent consideration from acquisitions   (455)
Net cash used in financing activities (37,181) (31,421)
Effect of exchange rate changes on cash and cash equivalents 16,424 (3,601)
Net decrease in cash and cash equivalents (136,135) (161,937)
Cash and cash equivalents at beginning of period 689,244 626,360
Cash and cash equivalents at end of the period $ 553,109 $ 464,423