Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 24,979 $ 41,433
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 5,617 4,999
Amortization of operating lease right of use asset 10,128 8,918
Stock-based compensation expense 4,376 3,513
Deferred income taxes 6,723 7,717
Loss on disposal of assets 155 31
Impairment of intangibles and other 1,229 177
Changes in operating assets and liabilities, net of acquisitions:    
Receivables (25,538) (28,805)
Prepaid expenses 5,765 (3,980)
Other assets (7,192) 1,627
Prepaid income taxes (11,473) 0
Prepaid taxes (13,195) 0
Accounts payable and accrued expenses 10,602 (2,894)
Salaries, wages, and benefits payable (6,936) 20,451
Contract liabilities - deferred revenue (62,567)  
Operating lease liabilities (10,046) (8,925)
Income taxes payable 217 1,119
Net amounts due to/from governmental entities 2,200 (575)
Net cash (used in) provided by operating activities (64,956) 44,806
Investing activities:    
Purchases of property, building and equipment (6,442) (4,849)
Proceeds from sale of property, building and equipment 0 45
Proceeds from sale of an entity 0 200
Minority interest investments (100) 0
Net cash used in investing activities (6,542) (4,604)
Financing activities:    
Proceeds from line of credit 374,428 0
Payments on line of credit (262,355) (20,000)
Proceeds from employee stock purchase plan 698 649
Payments on repurchasing common stock (34,565) 0
Noncontrolling interest distributions (5,697) (5,704)
Withholding taxes paid on stock-based compensation (3,140) (9,541)
Purchase of additional controlling interest 0 (142)
Sale of noncontrolling interest 0 284
Net cash provided by (used in) financing activities 69,369 (34,454)
Change in cash (2,129) 5,748
Cash at beginning of period 9,809 286,569
Cash at end of period 7,680 292,317
Supplemental disclosures of cash flow information:    
Interest paid 3,519 495
Income taxes paid 10,944 621
Non-Cash Operating Activity:    
Operating right of use assets in exchange for lease obligations 9,371 11,748
Reduction to right of use assets and liabilities (688) 0
Non-Cash Investing Activity:    
Net working capital adjustment (102) 0
Accrued capital expenditures $ 372 $ 1,973