| Apr'19 | Apr'18 | Apr'17 | Apr'16 | Apr'15 | Apr'14 | Apr'13 | Apr'12 | Apr'11 | Apr'10 | Apr'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||||
Net income | ||||||||||
104,796 | 135,897 | 87,238 | 31,433 | 88,357 | 72,691 | 33,293 | 54,303 | 58,874 | 5,298 | -10,092 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
46,489 | 48,588 | 47,260 | 36,220 | 27,597 | 26,172 | 19,004 | 14,017 | 12,671 | 11,493 | 11,583 |
Stock-based compensation expense | ||||||||||
23,385 | 21,469 | 18,958 | 18,895 | 13,899 | 12,106 | 11,906 | 13,399 | 15,547 | 17,729 | 16,301 |
Tradename write-offs | ||||||||||
106,555 | - | - | - | - | - | - | - | - | - | - |
Impairment of intangible assets | ||||||||||
- | - | - | - | - | - | - | - | 880 | - | - |
(Gain) loss on disposition of property and equipment | ||||||||||
- | - | - | - | - | - | - | - | - | -323 | -3,740 |
Provision for doubtful accounts | ||||||||||
14,260 | 13,675 | 12,987 | 8,570 | 7,741 | 7,840 | 6,748 | 5,732 | 7,650 | 3,340 | 9,127 |
Gain on cash surrender value of life insurance policies | ||||||||||
6,160 | 7,776 | 4,918 | 3,984 | 10,509 | 8,242 | 6,502 | 6,268 | 7,218 | 9,424 | -3,578 |
Gain on marketable securities | ||||||||||
8,134 | 10,278 | 10,842 | -3,333 | 8,829 | 9,498 | 7,556 | 1,013 | 7,599 | 11,137 | - |
Realized loss on available-for-sale marketable securities | ||||||||||
- | - | - | - | - | - | - | - | - | - | -5,040 |
Other-than-temporary impairment on available-for-sale securities, net of unrealized gains reclassified to other income upon the transfer of available-for-sale securities to trading | ||||||||||
- | - | - | - | - | - | - | - | - | - | 9,967 |
Deferred income taxes | ||||||||||
-27,796 | -6,564 | 6,589 | -13,792 | 895 | 7,598 | -176 | 6,512 | 5,954 | -20,862 | -4,354 |
Change in fair value of acquisition-related contingent consideration | ||||||||||
- | - | - | - | - | - | - | -2,196 | 4,919 | - | - |
Change in other assets and liabilities: | ||||||||||
Deferred compensation | ||||||||||
18,478 | 27,660 | 6,868 | -4,605 | 10,130 | 12,186 | 8,477 | 6,320 | 11,588 | 15,828 | -3,085 |
Receivables due from clients | ||||||||||
30,625 | 53,357 | 42,326 | 16,622 | 17,213 | 22,318 | 16,011 | 4,227 | 29,294 | 33,516 | -44,639 |
Income taxes and other receivables | ||||||||||
-1,409 | -2,093 | 10,177 | 191 | -115 | -896 | -4,616 | 6,664 | -1,154 | - | - |
Prepaid expenses and other assets | ||||||||||
148 | 2,118 | 1,796 | 6,310 | 1,145 | 1,255 | -750 | -2,194 | 6,172 | 4,520 | 1,340 |
Unearned compensation | ||||||||||
7,299 | 42,742 | 17,465 | - | - | - | - | - | - | - | - |
Investment in unconsolidated subsidiaries | ||||||||||
311 | 297 | 333 | 1,631 | 2,181 | 2,169 | 2,110 | 1,850 | 1,862 | 91 | 2,365 |
Income taxes payable | ||||||||||
213 | 32,439 | 205 | 686 | -10,405 | 7,533 | -3,399 | 4,058 | -1,686 | 2,844 | -18,909 |
Accounts payable and accrued liabilities | ||||||||||
28,398 | 66,081 | 5,420 | 18,862 | 17,790 | 29,104 | 8,494 | -20,519 | 40,885 | -595 | -82,236 |
Other | ||||||||||
4,705 | 5,645 | -8,473 | 1,875 | 8,966 | 3,162 | -4,173 | -7,177 | 819 | 7,556 | -21,577 |
Net cash provided by operating activities | ||||||||||
258,805 | 219,125 | 106,141 | 68,989 | 107,276 | 129,482 | 61,707 | 70,975 | 95,634 | -30,846 | 3,171 |
Cash flows from investing activities: | ||||||||||
Purchase of property and equipment | ||||||||||
46,682 | 42,000 | 50,088 | 26,144 | 21,860 | 28,559 | 13,101 | 18,632 | 27,889 | 7,282 | 11,947 |
Purchase of marketable securities | ||||||||||
9,476 | 9,462 | 10,536 | 30,397 | 22,843 | 28,150 | 50,437 | 55,718 | 65,964 | 4,163 | 23,449 |
Proceeds from sales/maturities of marketable securities | ||||||||||
13,781 | 2,642 | 42,815 | 30,066 | 21,362 | 44,475 | 51,511 | 43,181 | 28,618 | 13,374 | 19,345 |
Purchase of intangible assets | ||||||||||
- | - | - | - | - | - | - | 325 | - | 3,481 | - |
Cash paid for acquisitions, net of cash acquired | ||||||||||
- | - | 2,880 | 256,082 | 15,296 | - | 112,064 | 442 | - | 18,734 | 12,900 |
Acquisition of Mexico subsidiary, net of cash acquired | ||||||||||
- | - | - | 3,973 | - | - | - | - | - | - | - |
Payment of contingent consideration from acquisition | ||||||||||
- | - | - | - | - | - | - | - | 5,795 | 2,405 | - |
Premium on company-owned life insurance policies | ||||||||||
34,862 | 1,614 | 1,597 | 1,623 | 1,676 | 1,727 | 1,739 | 1,739 | 1,702 | 1,711 | 1,781 |
Proceeds from life insurance policies | ||||||||||
7,632 | 5,355 | 1,117 | 3,256 | 8,087 | 388 | - | - | - | - | - |
Dividends received from unconsolidated subsidiaries | ||||||||||
140 | 240 | 564 | 2,373 | 1,656 | 2,120 | 1,897 | 1,669 | 1,608 | 958 | 2,952 |
Net cash used in investing activities | ||||||||||
-69,467 | -44,839 | -20,605 | -274,578 | -30,570 | -23,592 | -116,711 | -33,027 | -81,131 | -23,444 | -27,780 |
Proceeds from long term debt | ||||||||||
226,875 | - | 275,000 | 150,000 | - | - | - | - | - | - | - |
Principal payments on long term debt | ||||||||||
238,906 | 20,625 | 155,469 | 10,000 | - | - | - | - | - | - | - |
Payment of debt issuance costs | ||||||||||
2,181 | - | - | - | - | - | - | - | - | - | - |
Change in restricted cash | ||||||||||
- | - | - | - | - | -2,861 | -7,222 | 221 | 10,007 | - | - |
Payment of purchase price held back from previous acquisition | ||||||||||
- | - | - | - | - | - | - | 800 | - | - | - |
Repurchases of common stock | ||||||||||
37,372 | 33,071 | 28,821 | - | - | - | - | 4,215 | 13,844 | 3,136 | 9,588 |
Payments of tax withholdings on restricted stock | ||||||||||
20,698 | 3,794 | 4,758 | 7,410 | 4,038 | 2,249 | 2,838 | - | - | - | - |
Proceeds from exercise of warrants | ||||||||||
- | - | - | - | - | - | - | - | 2,983 | - | - |
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan | ||||||||||
7,272 | 6,885 | 5,121 | 4,038 | 2,993 | 8,805 | 2,134 | 4,371 | 10,084 | 6,526 | 3,609 |
Borrowings under life insurance policies | ||||||||||
31,870 | - | - | - | - | - | - | 366 | 6,039 | 5,500 | 1,721 |
Payments on life insurance policy loans | ||||||||||
5,316 | 554 | 1,117 | 1,251 | 3,301 | 388 | - | - | - | 183 | 770 |
Dividends paid to shareholders | ||||||||||
23,459 | 22,955 | 23,318 | 21,833 | 5,105 | - | - | - | - | - | - |
Tax benefit related to stock-based compensation | ||||||||||
- | - | - | - | 1,516 | -593 | 294 | 1,664 | 1,287 | -611 | -654 |
Dividends - noncontrolling interest | ||||||||||
2,255 | 2,659 | 1,203 | - | - | - | - | - | - | - | - |
Payment of contingent consideration from acquisitions | ||||||||||
455 | 485 | 1,070 | - | - | 15,000 | - | - | 5,795 | 2,405 | - |
Payment of dividends by majority owned consolidated subsidiaries | ||||||||||
- | - | - | - | - | - | - | - | 600 | - | - |
Net cash provided by (used in) financing activities | ||||||||||
-64,625 | -77,258 | 64,365 | 113,544 | -7,935 | 5,575 | -410 | 2,186 | 5,949 | 8,096 | -5,682 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
-19,201 | 12,938 | -12,271 | -15,541 | -21,650 | -1,814 | -2,525 | -4,985 | 7,171 | 10,427 | -20,005 |
Net decrease in cash and cash equivalents | ||||||||||
105,512 | 109,966 | 137,630 | -107,586 | 47,121 | 109,651 | -57,939 | 35,149 | 27,623 | -35,767 | -50,296 |
Supplemental cash flow information: | ||||||||||
Cash used to pay interest | ||||||||||
14,188 | 11,946 | 10,882 | 5,154 | 4,230 | 4,229 | 4,361 | 4,480 | 4,834 | 3,992 | 5,969 |
Cash used to pay income taxes, net of refunds | ||||||||||
58,408 | 37,486 | 32,458 | 33,189 | 40,899 | 15,604 | 10,611 | 17,916 | 25,329 | 8,111 | 24,369 |