XML 22 R7.htm IDEA: XBRL DOCUMENT v3.22.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jan. 31, 2022
Jan. 31, 2021
Cash flows from operating activities:    
Net income $ 237,786 $ 48,811
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 47,381 46,068
Stock-based compensation expense 21,975 20,210
Impairment of right of use assets 7,392  
Impairment of fixed assets 1,915  
Provision for doubtful accounts 15,029 11,561
Gain on cash surrender value of life insurance policies (3,897) (8,575)
Gain on marketable securities (2,366) (27,176)
Deferred income taxes (2,704) (3,061)
Change in other assets and liabilities:    
Deferred compensation 32,192 45,224
Receivables due from clients (155,849) (62,844)
Income taxes and other receivables (5,822) (83)
Prepaid expenses and other assets (8,662) (1,891)
Unearned compensation (32,966) (35,211)
Income taxes payable 5,261 (13,122)
Accounts payable and accrued liabilities 70,473 22,559
Other (5,661) 11,835
Net cash provided by operating activities 221,477 54,305
Cash flows from investing activities:    
Purchase of property and equipment (32,659) (22,842)
Purchase of marketable securities (69,314) (55,057)
Proceeds from sales/maturities of marketable securities 66,933 53,393
Cash paid for acquisitions, net of cash acquired (90,860)  
Premium on company-owned life insurance policies (14,290) (14,366)
Proceeds from life insurance policies 3,382 8,366
Dividends received from unconsolidated subsidiaries 255 205
Net cash used in investing activities (136,553) (30,301)
Cash flows from financing activities:    
Payments of tax withholdings on restricted stock (18,244) (4,712)
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan 6,919 5,706
Dividends paid to shareholders (20,214) (16,954)
Repurchases of common stock (28,949) (30,387)
Principal payments on finance leases (860) (1,024)
Payments on life insurance policy loans (178) (7,877)
Dividends paid to noncontrolling interest (1,307) (558)
Net cash used in financing activities (62,833) (55,806)
Effect of exchange rate changes on cash and cash equivalents (26,364) 36,686
Net (decrease) increase in cash and cash equivalents (4,273) 4,884
Cash and cash equivalents at beginning of period 850,778 689,244
Cash and cash equivalents at end of the period $ 846,505 $ 694,128