| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
41,743 | 13,646 | -170,117 | 37,617 | 59,052 | 79,051 | 66,433 | 36,428 | 20,519 | 8,525 | -32,873 | 10,081 |
Adjustments to reconcile net income (loss) to cash flows from operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
34,405 | 39,311 | 50,089 | 46,816 | 58,053 | 30,989 | 23,609 | 25,251 | 24,717 | 22,861 | 28,333 | 29,920 |
Noncash Operating Lease Expense | |||||||||||
8,397 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Share-based compensation | |||||||||||
24,213 | 18,818 | 14,838 | 16,577 | 21,487 | 20,130 | 18,347 | 15,651 | 19,388 | 20,682 | 19,904 | 26,807 |
Amortization of debt discount and issuance costs | |||||||||||
8,264 | 10,313 | 10,203 | 9,609 | 9,329 | 3,832 | 1,363 | 1,116 | - | - | - | - |
Goodwill, Impairment Loss | |||||||||||
0 | 0 | 253,093 | 0 | 0 | - | - | 13,083 | 23,900 | - | 8,034 | - |
Allowances For Doubtful Accounts And Unbilled Services | |||||||||||
250 | 657 | 3,217 | 4,250 | 1,025 | 5,918 | 4,411 | -4,935 | -8,392 | 350 | 1,993 | 5,477 |
Non-cash compensation | |||||||||||
- | - | - | - | - | - | - | - | - | - | 8,333 | 30,570 |
Deferred Income Taxes and Tax Credits | |||||||||||
8,795 | 10,717 | -53,753 | 1,189 | 6,353 | 8,096 | 4,683 | -521 | 29,702 | -863 | -27,892 | 520 |
Gain (Loss) on Disposition of Business | |||||||||||
0 | -5,807 | 931 | 0 | -2,303 | 0 | 0 | - | - | - | - | - |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | |||||||||||
-1,506 | 381 | 1,111 | -1,990 | -1,126 | -590 | - | - | - | - | - | - |
Other Noncash Expense | |||||||||||
16 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Loss on disposal of property and equipment | |||||||||||
- | - | - | - | - | - | - | - | -20 | -208 | - | - |
Loss on sale of business | |||||||||||
- | - | - | - | - | - | - | - | -1,860 | 1,232 | 400 | - |
Non-cash portion of litigation settlement | |||||||||||
- | - | - | - | - | - | - | - | 1,096 | 12,552 | - | - |
Write-down of goodwill and intangibles related to sale of business | |||||||||||
- | - | - | - | - | - | - | - | - | - | -3,425 | - |
Other gains | |||||||||||
- | - | - | - | - | - | - | - | - | - | 3,286 | - |
Changes in operating assets and liabilities, net of divestiture: | |||||||||||
(Increase) decrease in receivables from clients, net | |||||||||||
10,123 | 10,509 | -1,650 | -1,440 | 2,836 | -30,072 | 21,731 | -19,713 | 21,055 | 554 | 2,597 | -6,386 |
(Increase) decrease in unbilled services | |||||||||||
10,269 | 11,094 | 4,332 | -2,443 | -31,696 | 38,211 | 11,932 | -4,333 | 7,179 | -6,210 | -2,503 | 12,380 |
(Increase) decrease in current income tax receivable / payable, net | |||||||||||
4,442 | -2,607 | 210 | -4,410 | 8,818 | -10,773 | -5,027 | 27,078 | 15,244 | -13,106 | 15,957 | -11,066 |
(Increase) decrease in other assets | |||||||||||
144 | 1,361 | 366 | -11,904 | 14,742 | -2,324 | 174 | -1,499 | -4,296 | -2,274 | 622 | 8,620 |
Increase (decrease) in accounts payable and other liabilities | |||||||||||
-6,884 | -8,212 | 3,732 | -3,144 | 8,805 | 9,754 | 1,514 | -10,226 | -3,810 | -3,665 | 6,928 | 5,494 |
Increase (decrease) in accrued payroll and related benefits | |||||||||||
30,339 | 35,481 | -10,966 | 3,044 | -25,221 | 8,835 | 34,724 | -5,676 | 20,909 | -33,439 | 28,335 | -13,051 |
Increase (decrease) in deferred revenues | |||||||||||
282 | 310 | 2,117 | 3,898 | 4,859 | -2,974 | -962 | -20,430 | 18,682 | 3,036 | -8,601 | 8,930 |
Net cash provided by (used in) operating activities | |||||||||||
132,220 | 101,658 | 99,795 | 129,243 | 167,855 | 146,453 | 115,258 | 102,364 | 109,409 | 50,051 | 113,926 | 101,200 |
Cash flows from investing activities: | |||||||||||
Purchases of property and equipment, net | |||||||||||
13,240 | 8,936 | 24,402 | 13,936 | 18,571 | 25,913 | 20,225 | 17,521 | 14,731 | 8,500 | 12,616 | 19,821 |
Proceeds from Life Insurance Policy | |||||||||||
0 | 0 | 2,889 | 0 | 0 | - | - | - | - | - | - | - |
Purchases of businesses, net of cash acquired | |||||||||||
2,500 | 215 | 106,915 | 69,133 | 339,966 | 53,971 | 30,297 | 55,223 | 24,905 | 87,946 | 51,550 | 229,947 |
Payments to Acquire Investments | |||||||||||
5,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Investment in life insurance policies | |||||||||||
4,703 | 2,037 | 1,826 | 2,035 | 5,804 | 1,775 | 1,002 | 600 | 434 | -687 | 395 | 1,093 |
Purchases of convertible debt investment | |||||||||||
- | - | - | - | 15,438 | 12,500 | 0 | - | - | - | - | - |
Capitalization of internally developed software costs | |||||||||||
10,312 | 6,069 | 1,370 | 1,086 | 866 | 0 | 1,572 | 895 | - | - | - | - |
Proceeds from note receivable | |||||||||||
0 | 1,040 | 1,177 | 0 | 0 | 328 | 438 | - | - | - | - | - |
Proceeds from Sale of Property, Plant, and Equipment | |||||||||||
753 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from Divestiture of Businesses, Net of Cash Divested | |||||||||||
0 | -2,345 | 1,499 | 446 | -108,487 | 0 | 0 | - | 788 | 7,942 | - | - |
Net cash used in investing activities | |||||||||||
-35,002 | -18,562 | -128,948 | -86,636 | -272,158 | -93,831 | -52,658 | -74,239 | -39,282 | -87,817 | -64,561 | -250,861 |
Cash flows from financing activities: | |||||||||||
Proceeds from exercises of stock options | |||||||||||
1,244 | 937 | 0 | 123 | 0 | 857 | 198 | 276 | 219 | 73 | 162 | 397 |
Shares redeemed for employee tax withholdings | |||||||||||
5,382 | 3,187 | 4,846 | 4,953 | 7,154 | 3,653 | 1,449 | 4,438 | 4,521 | 1,550 | 3,304 | 6,162 |
Tax benefit from share-based compensation | |||||||||||
- | - | - | - | - | 5,107 | 2,354 | 1,585 | 1,094 | 1,291 | 7,952 | 12,234 |
Share repurchases | |||||||||||
-12,985 | 0 | 0 | -55,265 | -34,591 | -50,000 | 0 | - | - | - | - | - |
Proceeds from bank borrowings | |||||||||||
347,000 | 204,300 | 277,500 | 200,000 | 314,000 | 129,000 | 96,000 | 273,000 | 282,301 | 363,500 | 246,000 | 631,500 |
Repayments of bank borrowings | |||||||||||
192,515 | 259,801 | 240,745 | 224,000 | 365,750 | 154,000 | 119,750 | 274,000 | 348,500 | 325,500 | 307,000 | 475,000 |
Repayments of Convertible Debt | |||||||||||
250,000 | 0 | 0 | - | - | - | - | - | - | - | - | - |
Proceeds from convertible senior notes issuance | |||||||||||
- | - | - | - | - | 250,000 | 0 | - | - | - | - | - |
Proceeds from sale of warrants | |||||||||||
- | - | - | - | - | 23,625 | 0 | - | - | - | - | - |
Payments for convertible senior note hedges | |||||||||||
- | - | - | - | - | 42,125 | 0 | - | - | - | - | - |
Payments for debt issuance costs | |||||||||||
1,524 | 1,385 | 408 | 0 | 0 | 7,346 | 1,155 | 2,482 | - | - | - | - |
Payment for Contingent Consideration Liability, Financing Activities | |||||||||||
4,674 | 7,554 | 2,680 | - | - | - | - | - | - | - | - | - |
Payments for capital lease obligations | |||||||||||
- | - | - | - | 48 | 79 | 19 | 12 | 62 | 257 | 370 | - |
Payment of Contingent Consideration Liabilities | |||||||||||
- | - | - | 0 | 0 | - | - | - | - | - | - | - |
Deferred payments for purchase of property and equipment | |||||||||||
- | - | - | - | - | 471 | 471 | - | 0 | - | - | - |
Deferred acquisition payments | |||||||||||
- | - | - | - | - | 4,745 | 5,356 | 2,000 | 2,000 | - | - | - |
Principal payments of notes payable and capital lease obligations | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 1,432 |
Net cash used in financing activities | |||||||||||
-118,836 | -66,690 | 28,821 | -84,095 | -93,543 | 146,170 | -29,648 | -8,071 | -71,469 | 37,557 | -56,560 | 161,537 |
Effect of exchange rate changes on cash | |||||||||||
115 | -208 | 214 | 78 | -589 | -51 | 17 | 28 | 75 | 97 | -452 | -763 |
Net increase (decrease) in cash and cash equivalents | |||||||||||
-21,503 | 16,198 | -118 | -41,410 | -198,435 | 198,741 | 32,969 | 20,082 | -1,267 | -112 | -7,647 | 11,113 |
Non-cash investing and financing activities: | |||||||||||
Non-cash investing and financing activities: | |||||||||||
Property and equipment expenditures and capitalized software included in accounts payable and accrued expenses | |||||||||||
2,600 | 2,358 | 1,567 | 4,461 | 2,089 | 3,533 | 4,548 | 4,376 | 1,151 | - | - | - |
Notes Assumed | |||||||||||
0 | 0 | 5,113 | 0 | 0 | - | - | - | - | - | - | - |
Contingent consideration related to business acquisitions | |||||||||||
- | - | - | - | - | - | 0 | - | - | - | - | - |
Note received for sale of business | |||||||||||
- | - | - | - | - | - | - | - | 2,680 | - | - | - |
Debt issuance costs | |||||||||||
- | - | - | - | - | - | - | - | 2,699 | - | - | - |
Issuance of common stock in connection with settlement of class action lawsuit | |||||||||||
- | - | - | - | - | - | - | - | 13,648 | - | - | - |
Deferred payments related to business combinations | |||||||||||
- | - | - | - | - | - | - | 10,113 | - | - | - | - |
Common stock issued related to business acquisition | |||||||||||
0 | 0 | 9,560 | 0 | 2,204 | 0 | 0 | - | - | - | - | - |
Capitalized lease obligations incurred | |||||||||||
- | - | - | - | - | - | - | - | - | - | 18 | 611 |
Cash paid during the year for: | |||||||||||
Interest | |||||||||||
7,971 | 8,887 | 9,068 | 6,470 | 9,274 | 4,006 | 4,912 | 7,211 | 9,578 | 13,303 | 11,968 | 17,065 |
Income taxes | |||||||||||
1,429 | 3,349 | 5,399 | 24,584 | 10,955 | 31,815 | 45,658 | 14,370 | 6,179 | 8,838 | 22,800 | 9,254 |