XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2023
Sep. 30, 2022
Cash flows from operating activities:    
Net income $ 79,410 $ 79,806
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of property, equipment and leasehold improvements 6,535 5,224
Provision for contract losses and doubtful accounts 1,911 2,112
Stock-based compensation 17,177 16,072
Deferred income tax provision (539) (3,955)
Changes in operating assets and liabilities:    
Accounts receivable (13,551) (28,265)
Prepaid expenses and other current assets (5,886) (7,583)
Change in operating leases (451) (132)
Accounts payable and accrued liabilities (7,094) 5,140
Accrued payroll and employee benefits (13,124) (11,211)
Deferred revenues (8,345) (3,971)
Net cash provided by operating activities 56,043 53,237
Cash flows from investing activities:    
Capital expenditures (14,422) (9,108)
Net cash used in investing activities (14,422) (9,108)
Cash flows from financing activities:    
Payroll taxes for restricted stock units (9,920) (12,904)
Repurchase of common stock (16,970) (142,195)
Exercise of stock-based payment awards 1,812 1,627
Dividends and dividend equivalents rights (40,894) (37,084)
Net cash used in financing activities (65,972) (190,556)
Effect of foreign currency exchange rates on cash and cash equivalents (8) (2,817)
Net change in cash and cash equivalents (24,359) (149,244)
Cash and cash equivalents at beginning of period 161,458 297,687
Cash and cash equivalents at end of period $ 137,099 $ 148,443