XML 17 R7.htm IDEA: XBRL DOCUMENT v3.20.4
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 32,711 $ 53,514
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,334 2,036
Reduction in the carrying amount of right-of-use assets 2,365 1,887
Net foreign currency losses 1,463 721
Stock-based compensation 6,268 9,275
Deferred income taxes 41 (1,326)
Provision for bad debts 3,120 982
Other non-cash operating activities 202 107
Changes in assets and liabilities:    
Accounts receivable 2,243 (1,945)
Contract assets, net (7,366) (31,526)
Contract costs 284 (345)
Lease liabilities (2,663) (1,932)
Prepaid expenses, prepaid income taxes, and other assets (1,900) (2,092)
Accounts payable, accrued expenses, income taxes payable and other liabilities (5,505) (12,741)
Deferred revenue 2,854 (1,355)
Net cash provided by operating activities 36,451 15,260
Cash flows from investing activities:    
Purchases of property, equipment and leasehold improvements (177) (600)
Payments for business acquisitions, net of cash acquired 0 (74,219)
Payments for equity method investments (334) 0
Payments for capitalized computer software development costs (806) (9)
Net cash used in investing activities (1,317) (74,828)
Cash flows from financing activities:    
Issuance of shares of common stock 268 1,018
Repurchases of common stock 0 (50,848)
Payments of tax withholding obligations related to restricted stock (1,828) (3,166)
Proceeds from borrowings, net of repayments (4,000) 100,000
Net cash provided by (used in) financing activities (5,560) 47,004
Effect of exchange rate changes on cash and cash equivalents 228 (729)
Increase (decrease) in cash, cash equivalents, and restricted cash 29,802 (13,293)
Cash and cash equivalents, beginning of period 287,796 71,926
Cash, cash equivalents, and restricted cash, end of period 317,511 57,943
Supplemental disclosure of non-cash activities:    
Change in purchases of property, equipment and leasehold improvements included in accounts payable and accrued expenses 281 160
Change in repurchases of common stock included in accounts payable and accrued expenses 0 (848)
Lease liabilities arising from obtaining right-of-use assets 223 3,272
Supplemental disclosure of cash flow information:    
Income taxes paid, net 2,703 10,284
Interest paid 2,121 2,801
Reconciliation to amounts within the unaudited consolidated balance sheets: [Abstract]    
Restricted cash included in other non-current assets 87 690
Cash, cash equivalents, and restricted cash, end of period $ 317,598 $ 58,633