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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities    
Net income $ 170,100 $ 122,510
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 61,865 64,173
Amortization of right of use asset 6,773 7,184
Stock-based compensation expense 49,880 38,716
Multiemployer pension plan liability adjustment 0 (2,273)
Impairment charges 0 15,239
Change in long-term retirement benefit obligations (18,110) (21,339)
Contingent consideration fair value adjustment 294 2,813
Other – net (4,493) (2,839)
Changes in operating assets and liabilities:    
Accounts receivable – net 53,541 53,494
Other assets 7,035 9
Accounts payable, accrued payroll and other liabilities (77,094) (59,698)
Unexpired subscriptions 4,443 690
Other noncurrent assets and liabilities 4,582 5,421
Net cash provided by operating activities 258,816 224,100
Cash flows from investing activities    
Purchases of marketable securities (337,107) (186,018)
Maturities of marketable securities 159,464 100,515
Capital expenditures (21,115) (16,539)
Other – net 1,299 4,754
Net cash used in investing activities (197,459) (97,288)
Long-term obligations:    
Dividends paid (61,500) (51,360)
Payment of contingent consideration (1,724) (2,586)
Capital shares:    
Repurchases (60,341) (43,591)
Share-based compensation tax withholding (21,076) (14,279)
Net cash used in financing activities (144,641) (111,816)
Net (decrease)/increase in cash, cash equivalents and restricted cash (83,284) 14,996
Effect of exchange rate changes on cash (1,025) (310)
Cash, cash equivalents and restricted cash at the beginning of the period 303,172 235,173
Cash, cash equivalents and restricted cash at the end of the period $ 218,863 $ 249,859