| Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net income | ||||||
183,793 | 159,106 | 172,283 | 108,343 | 69,767 | 79,939 | 61,428 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Deferred tax benefit | ||||||
-9,654 | -10,687 | -6,569 | -6,093 | -4,165 | -7,358 | -7,176 |
Accounts Receivable, Credit Loss Expense (Reversal) | ||||||
4,873 | 1,707 | 1,983 | 4,008 | 2,538 | 2,027 | 2,465 |
Unrealized gains on investment securities | ||||||
75 | 430 | 0 | 0 | - | - | - |
Non-cash lease expense | ||||||
24,654 | 0 | 0 | - | - | - | - |
Depreciation and amortization | ||||||
17,291 | 14,475 | 7,905 | 8,853 | 7,499 | 5,508 | 6,040 |
Contingent consideration valuation | ||||||
1,220 | 708 | 1,536 | 0 | 0 | - | - |
Compensation expense – restricted share grants (Note 14) | ||||||
64,345 | 56,561 | 47,111 | 39,357 | 35,057 | 23,200 | 22,479 |
Compensation expense – restricted share grants (Note 14) | ||||||
Accounts receivable | ||||||
13,387 | -21,611 | 18,202 | 5,527 | 1,387 | 8,533 | 20,341 |
Unbilled work in process | ||||||
32,423 | -26,029 | 11,875 | - | - | - | - |
Increase (Decrease) in Unbilled Work in Process | ||||||
- | - | - | 6,382 | 8,360 | 3,720 | 3,909 |
Unbilled work in process | ||||||
4,515 | 12,706 | 1,703 | -3,745 | 643 | 795 | 2,111 |
Accrued salaries and bonuses | ||||||
11,351 | 18,868 | 34,556 | 82,046 | -56,184 | 51,797 | 50,545 |
Accounts payable and accrued expenses | ||||||
-8,709 | 11,542 | 392 | 13,499 | -13,959 | 3,084 | 4,735 |
Deferred income | ||||||
-1,058 | -6,661 | -31 | -1,970 | 2,475 | -2,316 | 1,717 |
Income taxes receivable/payable | ||||||
-12,443 | -2,375 | 2,583 | -12,141 | 20,917 | -53,674 | 49,139 |
Net cash provided by operating activities | ||||||
287,669 | 224,274 | 250,647 | 252,020 | 11,721 | 196,507 | 165,011 |
Net cash provided by operating activities | ||||||
Purchases of investment securities | ||||||
350,679 | 146,969 | 209,319 | 0 | - | 9,451 | 5,000 |
Sales or maturities of investment securities | ||||||
340,624 | 231,460 | 0 | 0 | - | - | - |
Purchase of investment securities | ||||||
- | - | - | - | 0 | - | - |
Acquisition of business, net of cash acquired | ||||||
2,197 | 71,407 | 2,701 | 3,725 | 36,854 | 5,178 | 9,090 |
Receivables from affiliates | ||||||
-170 | 101 | 1,155 | 16,495 | 225,792 | -193,200 | -105,653 |
Purchase of property and equipment | ||||||
20,722 | 6,726 | 7,719 | 14,423 | 9,385 | 4,671 | 2,241 |
Net cash (used in)/provided by investing activities | ||||||
-33,144 | 6,459 | -218,584 | -1,653 | 179,553 | -212,500 | -121,984 |
Cash flows from financing activities: | ||||||
Dividends paid | ||||||
80,655 | 66,928 | 52,081 | 55,293 | 114,297 | 2,166 | 1,075 |
Settlement of forward purchase contract | ||||||
0 | 93,500 | 192,372 | 0 | 0 | - | - |
Share Repurchases | ||||||
29,641 | 69,563 | 18,075 | 0 | 0 | - | - |
Other share repurchases | ||||||
- | - | - | 964 | 0 | - | - |
Payment, Tax Withholding, Share-based Payment Arrangement | ||||||
31,477 | 1,947 | 33,419 | 22,756 | 0 | - | - |
Proceeds from issuance of Class A shares placed in escrow | ||||||
0 | 0 | 93,500 | 193,565 | 0 | 0 | - |
Earnouts paid | ||||||
0 | 1,923 | 0 | 0 | 1,417 | 964 | 0 |
Stock subscriptions receivable issued | ||||||
- | - | - | - | - | 360 | 3,000 |
Stock subscriptions receivable redeemed | ||||||
0 | 0 | 124 | 123 | 2,720 | 995 | 828 |
Loans payable to former shareholders redeemed | ||||||
-654 | -989 | -2,446 | -11,256 | -3,047 | 0 | 0 |
Repayments of loans to affiliates | ||||||
0 | 0 | 15,000 | 30,000 | 0 | 0 | - |
Repayments of loans to non-affiliates | ||||||
10,081 | 1,475 | 1,661 | 65,000 | 0 | 0 | - |
Borrowings from non-affiliates | ||||||
- | - | - | 65,000 | 0 | 0 | - |
Excess tax benefits | ||||||
- | - | - | 6,982 | 1,798 | 0 | - |
Other financing activities | ||||||
369 | 187 | -3,881 | -233 | 33 | 0 | -17 |
Net cash (used in) financing activities | ||||||
-152,139 | -236,138 | -225,311 | 80,168 | -114,210 | -2,495 | -3,264 |
Effects of exchange rate changes on cash and cash equivalents | ||||||
-7,755 | -8,703 | 785 | -4,018 | 443 | -2,270 | 1,271 |
Net increase/(decrease) in cash, cash equivalents, and restricted cash | ||||||
94,631 | -14,108 | -192,463 | 326,517 | 77,507 | -20,758 | 41,034 |
Supplemental disclosures of non-cash activities: | ||||||
Shares issued via vesting of liability classified awards | ||||||
6,555 | 5,005 | 0 | - | - | - | - |
Dividends paid via settlement of receivable from affiliate (note 3) | ||||||
- | - | - | - | 94,520 | 0 | 0 |
Dividends paid via distribution of non-cash assets | ||||||
- | - | - | - | 22,800 | 0 | 0 |
Dividends paid via loan payable to affiliate | ||||||
- | - | - | - | 45,000 | 0 | 0 |
Dividends paid via settlement of employee loans | ||||||
- | - | - | - | 4,168 | 0 | 0 |
Taxes paid via settlement of receivable from affiliate | ||||||
- | - | - | - | 901 | 46,000 | 50,900 |
Shares redeemed via settlement of receivable from affiliate (note 3) | ||||||
- | - | - | - | 763,000 | 12,856 | 11,623 |
Shares redeemed via settlement of receivable from affiliate (note 3) | ||||||
- | - | - | - | - | 3,531 | 11,967 |
Shares issued via vesting of liability classified awards | ||||||
- | - | - | 4,754 | 0 | 0 | - |
Shares issued as consideration for acquisitions | ||||||
0 | 1,744 | 7,797 | 457 | 11,306 | 0 | 0 |
Debt forgiven as consideration of acquisitions | ||||||
0 | 0 | 1,894 | 0 | 0 | - | - |
Fully depreciated assets written off | ||||||
0 | 0 | 38 | 829 | 443 | 2,582 | 259 |
Cash acquired through acquisitions | ||||||
15,755 | 16,141 | 0 | 0 | 14,688 | 0 | 0 |
Cash paid during the year: | ||||||
Interest | ||||||
1,049 | 977 | 656 | 1,621 | 1,314 | 263 | 137 |
Taxes | ||||||
74,507 | 82,464 | 47,629 | 57,286 | 75,365 | -1,478 | 1,568 |