v3.22.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands |
6 Months Ended |
|
|
Operating activities: |
|
|
Net income |
$ 39,921
|
$ 88,186
|
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
Depreciation and amortization expense |
11,723
|
9,541
|
Amortization of operating lease right of use asset |
20,412
|
17,995
|
Stock-based compensation expense |
9,319
|
7,506
|
Deferred income taxes |
10,665
|
19,489
|
Loss on disposal of assets |
221
|
19
|
Impairment of intangibles and other |
2,071
|
937
|
Changes in operating assets and liabilities, net of acquisitions: |
|
|
Receivables |
5,686
|
(25,649)
|
Prepaid expenses |
7,845
|
(4,484)
|
Other assets |
(13,403)
|
6,170
|
Prepaid income taxes |
(12,083)
|
(13,739)
|
Accounts payable and accrued expenses |
31,358
|
(9,148)
|
Salaries, wages, and benefits payable |
1,338
|
(4,560)
|
Contract liabilities - deferred revenue |
(98,267)
|
(65,026)
|
Operating lease liabilities |
(20,286)
|
(17,962)
|
Income taxes payable |
434
|
(21,042)
|
Net amounts due to/from governmental entities |
758
|
(57)
|
Net cash used in operating activities |
(2,288)
|
(11,824)
|
Investing activities: |
|
|
Purchases of property, building and equipment |
(11,138)
|
(15,619)
|
Proceeds from sale of property, building and equipment |
0
|
150
|
Cash paid for acquisitions, net of cash acquired |
(2,570)
|
(649)
|
Proceeds from sale of an entity |
0
|
1,531
|
Minority interest investments |
(15,100)
|
(10,100)
|
Net cash used in investing activities |
(28,808)
|
(24,687)
|
Financing activities: |
|
|
Proceeds from line of credit |
597,250
|
0
|
Payments on line of credit |
(499,447)
|
(20,000)
|
Government stimulus advance |
0
|
(93,257)
|
Proceeds from employee stock purchase plan |
1,233
|
1,222
|
Payments on repurchasing common stock |
(34,565)
|
0
|
Noncontrolling interest distributions |
(11,541)
|
(13,332)
|
Withholding taxes paid on stock-based compensation |
(3,867)
|
(10,754)
|
Purchase of additional controlling interest |
(376)
|
(2,113)
|
Sale of noncontrolling interest |
0
|
284
|
Net cash provided by (used in) financing activities |
48,687
|
(137,950)
|
Change in cash |
17,591
|
(174,461)
|
Cash at beginning of period |
9,809
|
286,569
|
Cash at end of period |
27,400
|
112,108
|
Supplemental disclosures of cash flow information: |
|
|
Interest paid |
9,321
|
1,322
|
Income taxes paid |
11,191
|
38,103
|
Non-Cash Operating Activity: |
|
|
Operating right of use assets in exchange for lease obligations |
18,633
|
25,656
|
Reduction to right of use assets and liabilities |
(1,695)
|
0
|
Non-Cash Investing Activity: |
|
|
Net working capital adjustment |
1,440
|
0
|
Accrued capital expenditures |
$ 74
|
$ 1,108
|
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