v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Operating activities:    
Net income $ 85,477 $ 53,339
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 10,385 8,400
Amortization of operating lease right of use asset 17,090 15,528
Stock-based compensation expense 6,943 4,392
Deferred income taxes 10,461 4,821
Loss on disposal of assets 154 312
Impairment of intangibles and other 600 7,337
Changes in operating assets and liabilities, net of acquisitions:    
Receivables (38,186) (22,704)
Prepaid expenses (2,436) (332)
Other assets (4,169) 8
Prepaid income taxes 3,322 5,063
Accounts payable and accrued expenses (16,354) (935)
Salaries, wages, and benefits payable 3,850 (4,547)
Government stimulus advance 44,273  
Contract liabilities - deferred revenue 310,712  
Other long term liabilities 17,818 0
Operating lease liabilities (16,876) (13,253)
Income taxes payable 2,506 374
Net amounts due to/from governmental entities 306 528
Net cash provided by operating activities 435,876 58,331
Investing activities:    
Purchases of property, building and equipment (40,944) (7,599)
Proceeds from sale of property, building and equipment 7,142 0
Cash received (paid) for acquisitions 3,125 (20,431)
Net cash used in investing activities (30,677) (28,030)
Financing activities:    
Proceeds from line of credit 256,230 25,000
Payments on line of credit (479,230) (30,000)
Proceeds from employee stock purchase plan 1,107 931
Payments on debt 0 (7,650)
Noncontrolling interest distributions (10,267) (13,857)
Withholding taxes paid on stock-based compensation (8,602) (8,519)
Purchase of additional controlling interest (23,575) (18,748)
Exercise of vested awards and stock options 218  
Exercise of vested awards and stock options   (84)
Net cash used in financing activities (264,119) (52,927)
Change in cash 141,080 (22,626)
Cash at beginning of period 31,672 49,363
Cash at end of period 172,752 26,737
Supplemental disclosures of cash flow information:    
Interest paid 4,083 4,038
Income taxes paid 2,375 4,042
Non-Cash Operating Activity:    
Operating right of use assets in exchange for lease obligations 18,690 98,070
Non-Cash Investing Activity:    
Accrued capital expenditures $ 2,348 $ 953

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