| Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operations: | ||||||||||
Net income | ||||||||||
240,495 | 220,816 | 212,182 | 180,160 | 160,049 | 145,396 | 117,349 | 75,831 | 81,168 | 70,409 | 46,540 |
Adjustments to reconcile net income to cash flows from operations: | ||||||||||
Depreciation and amortization of property and equipment and capitalized software | ||||||||||
52,404 | 51,884 | 55,769 | 58,404 | 46,849 | 42,778 | 30,933 | 23,730 | - | - | - |
Amortization of intangible assets | ||||||||||
33,054 | 10,308 | 12,208 | 13,377 | 9,348 | 5,890 | 4,883 | 2,730 | - | - | - |
(Income) loss from discontinued operations | ||||||||||
- | - | - | - | - | - | - | - | -974 | 1,012 | -7,301 |
Depreciation and amortization | ||||||||||
- | - | - | - | - | - | - | - | 22,845 | 18,340 | 12,232 |
Deferred income taxes | ||||||||||
12,661 | 6,721 | 4,762 | 5,652 | 807 | 2,898 | 2,396 | -3,274 | 1,758 | -3,172 | 26,471 |
Gain on sale of fixed assets | ||||||||||
- | - | - | - | - | - | - | - | - | - | 51 |
Deferred interest income on note receivable | ||||||||||
- | - | - | - | - | - | - | - | - | -263 | -376 |
Stock compensation expense | ||||||||||
20,774 | 20,238 | 21,365 | 18,751 | 17,237 | 17,278 | 14,555 | 12,077 | 9,485 | 7,918 | 7,307 |
Gain on sale of a business | ||||||||||
0 | 0 | 650 | 6,880 | 0 | 0 | - | - | - | - | - |
Change in assets and liabilities net of effects of business combinations | ||||||||||
Accounts receivable — billed and billable | ||||||||||
60,313 | -34,033 | -53,025 | 51,986 | 103,774 | 144 | 87,999 | 8,170 | 11,584 | -38 | 13,052 |
Accounts receivable — unbilled | ||||||||||
-14,818 | -4,920 | -26 | - | - | - | - | - | - | - | - |
Accounts receivableunbilled | ||||||||||
- | - | - | 5,590 | 911 | -2,056 | 14,998 | -3,171 | -10,068 | -2,415 | 6,677 |
Prepaid expenses and other current assets | ||||||||||
15,583 | -4,954 | -2,584 | 2,027 | 6,475 | 2,540 | 2,492 | 6,018 | 2,573 | 1,740 | 11,801 |
Deferred contract costs | ||||||||||
4,670 | -1,838 | -2,037 | 398 | 7,245 | -2,254 | 5,073 | 1,221 | 1,309 | -1,541 | 2,882 |
Accounts payable and accrued liabilities | ||||||||||
47,580 | -7,725 | -28,309 | -2,371 | 44,351 | -2,928 | 31,453 | 6,451 | 7,312 | -407 | 993 |
Accrued compensation and benefits | ||||||||||
2,288 | -8,795 | 8,849 | -869 | -3,157 | 12,277 | 21,308 | -2,648 | 4,490 | 7,883 | 5,497 |
Deferred revenue | ||||||||||
16,488 | -27,039 | -15,401 | -11,661 | 47,948 | 2,841 | 6,304 | 9,827 | -11,779 | 31,294 | 5,820 |
Income taxes | ||||||||||
-4,720 | 7,262 | 8,901 | -13,125 | 9,134 | -10,974 | 2,034 | 6,885 | -10,814 | 6,374 | -20,503 |
Other assets and liabilities | ||||||||||
-1,451 | 2,641 | 924 | 1,411 | 7,944 | 3,482 | -285 | 4,211 | 2,456 | -827 | 25,037 |
Cash used in operating activities - discontinued operations | ||||||||||
- | - | - | - | - | - | - | - | -725 | -2,530 | -1,901 |
Cash flows from operations | ||||||||||
356,727 | 316,774 | 336,424 | 180,026 | 206,217 | 213,600 | 120,938 | 115,160 | 96,860 | 138,441 | 30,633 |
Cash provided by operating activities - continuing operations | ||||||||||
- | - | - | - | - | - | - | - | 97,585 | 140,971 | 32,534 |
Cash flows from investing activities: | ||||||||||
Purchases of property and equipment and capitalized software costs | ||||||||||
66,846 | 26,520 | 24,154 | 46,391 | 105,149 | 47,148 | - | - | - | - | - |
Purchases of property and equipment | ||||||||||
- | - | - | - | - | - | 43,580 | 18,369 | 18,506 | 13,936 | 19,694 |
Capitalized software costs | ||||||||||
- | - | - | - | - | - | 18,596 | 4,779 | 7,608 | 8,672 | 6,888 |
Proceeds (payments) from sales of discontinued operations, net of transaction costs | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,626 |
Acquisitions of businesses, net of cash acquired | ||||||||||
436,839 | 0 | 2,677 | 46,651 | 289,212 | 2,670 | 68,055 | 66,003 | - | 11,960 | 406 |
Acquisition of noncontrolling interests | ||||||||||
647 | 157 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from the sale of a business | ||||||||||
0 | 0 | 1,035 | 5,515 | 0 | 0 | - | 2,240 | - | 1,700 | - |
Maturities of short-term investments | ||||||||||
-19,996 | 19,996 | 0 | - | - | - | - | - | - | - | - |
Purchases of short-term investments | ||||||||||
- | - | - | 0 | - | - | - | - | - | - | - |
Other | ||||||||||
-453 | -1,436 | -575 | -424 | -489 | -429 | - | - | - | - | - |
Proceeds from note receivable | ||||||||||
- | - | - | - | - | - | 398 | 299 | 237 | 473 | 972 |
Proceeds from sale of equipment | ||||||||||
- | - | - | - | - | - | - | - | - | - | 696 |
Cash used in investing activities-continuing operations | ||||||||||
- | - | - | - | - | - | - | - | -25,877 | -32,395 | -26,946 |
Cash used in investing activities - discontinued operations | ||||||||||
- | - | - | - | - | - | - | - | - | - | -90 |
Cash used in investing activities | ||||||||||
-483,883 | -45,237 | -25,221 | -87,103 | -393,872 | -49,389 | -129,833 | -86,612 | -25,877 | -32,395 | -27,036 |
Cash flows from financing activities: | ||||||||||
Cash dividends paid to MAXIMUS shareholders | ||||||||||
63,887 | 11,692 | 11,674 | 11,701 | 11,852 | 12,187 | 12,272 | 12,180 | 10,327 | 8,375 | 8,054 |
Purchases of MAXIMUS common stock | ||||||||||
47,446 | 66,919 | 28,863 | 33,335 | 82,787 | 111,141 | 33,287 | 12,977 | 56,540 | 40,217 | 30,046 |
Tax withholding related to RSU vesting | ||||||||||
8,915 | 8,529 | 9,175 | 11,614 | 12,451 | 14,681 | 8,868 | 4,464 | 3,516 | - | - |
Borrowings under credit facility and other loan agreements | ||||||||||
414,664 | 136,632 | 185,000 | 149,823 | 330,993 | 15,000 | - | - | 304 | 533 | - |
Repayment of credit facility and other long-term debt | ||||||||||
405,142 | 136,769 | 349,981 | 195,200 | 121,611 | 15,162 | 172 | 44 | - | 7 | 417 |
Stock option exercises | ||||||||||
0 | 0 | 924 | 546 | 868 | 1,362 | 2,168 | 6,441 | 12,496 | - | - |
Employee stock transactions | ||||||||||
- | - | - | - | - | - | - | - | - | 2,763 | 2,292 |
Stock compensation tax benefit | ||||||||||
- | - | - | 5,172 | 9,474 | 9,665 | 10,569 | 7,268 | 6,996 | 2,901 | 651 |
Other | ||||||||||
-133 | -4,603 | -1,660 | -533 | -75 | 0 | - | - | - | - | - |
Expansion of credit facility | ||||||||||
- | - | - | - | 1,444 | 0 | - | - | - | - | - |
Acquisition-related contingent consideration | ||||||||||
- | - | - | - | - | - | - | 1,809 | 1,021 | - | - |
Cash used in financing activities | ||||||||||
-110,859 | -91,880 | -215,429 | -96,842 | 111,115 | -127,144 | -41,862 | -17,765 | -51,608 | -42,402 | -35,574 |
Effect of exchange rate changes on cash and cash equivalents | ||||||||||
-2,052 | -2,825 | 3,660 | -4,554 | -6,900 | -4,572 | -12,938 | 5,579 | -1,746 | 3,862 | 187 |
Net increase/(decrease) in cash, cash equivalents and restricted cash | ||||||||||
-240,067 | 176,832 | 99,434 | -8,473 | -83,440 | 32,495 | -63,695 | 16,362 | 17,629 | 67,506 | -31,790 |