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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 58,141 $ 23,262
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]    
Stock-based compensation 21,152 0
Depreciation and amortization 63,435 21,331
Impairment and other losses 2,823 0
Provision for bad debt expense 1,641 381
Deferred income taxes (1,325) 138
Adjustment to deferred acquisition consideration 15,390 2,359
Transaction costs contributed by Stagwell Media LP 0 5,042
Other (6,059) 952
Changes in working capital:    
Accounts receivable (78,342) 28,960
Expenditures billable to clients 20,386 (4,752)
Other assets (8,555) (676)
Accounts payable (33,228) (40,344)
Accrued expenses and other liabilities (109,232) (1,037)
Advance billings (46,391) 3,603
Deferred acquisition related payments (7,107) 0
Net Cash Provided by (Used in) Operating Activities, Total (107,271) 39,218
Cash flows from investing activities:    
Capital expenditures (14,467) (7,288)
Current period acquisitions, net of cash acquired (38,326) 0
Other (2,144) 0
Net Cash Provided by (Used in) Investing Activities, Total (54,937) (7,288)
Repayment of borrowings under revolving credit facility    
Repayment of borrowings under revolving credit facility (473,000) (25,496)
Proceeds from borrowings under revolving credit facility 660,500 10,000
Shares acquired and cancelled 14,926 0
Distributions to noncontrolling interests and other (36,498) 0
Payment of deferred consideration (52,431) 0
Distributions 0 (37,214)
Repurchase of Common Stock (14,839) 0
Net Cash Provided by (Used in) Financing Activities, Total 65,206 (52,710)
Effect of exchange rate changes on cash and cash equivalents 6,395 1,773
Net decrease in cash and cash equivalents (90,607) (19,007)
Cash and cash equivalents at beginning of period 184,009 92,457
Cash and cash equivalents at end of period 93,402 73,450
Supplemental disclosures:    
Cash income taxes paid 15,871 4,649
Cash interest paid 30,798 3,047
Non-cash investing and financing activities:    
Reduction of deferred tax liability related to the exchange of Paired Units 25,159 0
Establishment of Tax Receivables Agreement liability 21,385 0
Non-cash contributions 0 12,122
Non-cash distributions to Stagwell Media LP 0 13,000
Non-cash payment of deferred acquisition consideration 0 7,080
Purchase of noncontrolling interest $ 3,600 $ 0