| Sep'19 | Sep'18 | Oct'17 | Oct'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'09 | Sep'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Net income | |||||||||||
158,761 | 136,957 | 117,917 | 83,853 | 39,228 | 108,675 | -1,506 | 104,732 | 92,982 | 76,819 | 87,028 | 60,906 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
28,844 | 38,636 | 45,756 | 45,588 | 44,201 | 54,540 | 62,605 | 56,902 | 55,684 | 33,491 | 27,256 | 18,639 |
Equity in income of unconsolidated joint ventures | |||||||||||
25 | 568 | 647 | -1,144 | 5,131 | 2,804 | 3,461 | 2,916 | 4,877 | 1,184 | 1,613 | - |
Loss on settlement of foreign currency forward contract | |||||||||||
- | - | - | - | - | - | -270 | -286 | -293 | -28 | - | - |
Distributions of earnings from unconsolidated joint ventures | |||||||||||
- | - | - | - | 5,252 | 2,724 | 4,458 | 3,194 | 4,802 | 1,689 | 1,136 | - |
Amortization of stock-based awards | |||||||||||
17,618 | 19,582 | 13,450 | 12,964 | 10,926 | 10,374 | 8,775 | 10,839 | 10,582 | 10,178 | 9,392 | 8,296 |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | 918 | 172 | 904 | 886 | 624 | 104 | 754 | 2,025 | 1,663 |
Deferred income taxes | |||||||||||
-37,615 | -29,360 | -9,957 | 6,051 | 8,412 | -145 | -11,468 | -5,512 | 1,720 | 11,641 | -3,772 | 10,662 |
Provision for doubtful accounts | |||||||||||
16,964 | 7,167 | 2,847 | 8,082 | -1,034 | 1,467 | 13,818 | 4,768 | 3,733 | 7,179 | 24,207 | 6,571 |
Impairment of goodwill and other intangible assets | |||||||||||
7,800 | 0 | - | - | 60,763 | - | 56,600 | 914 | - | - | - | - |
Fair value adjustments to contingent consideration | |||||||||||
-1,100 | -4,300 | 6,923 | -2,823 | 3,113 | 58,694 | 9,560 | 19,246 | 1,755 | 265 | - | - |
Gain on sale of property and equipment | |||||||||||
232 | -1,045 | 103 | 537 | 6,014 | -58 | 287 | -191 | 231 | 1,480 | 296 | 1,220 |
Fair value adjustment to assets held for sale | |||||||||||
- | - | - | - | - | - | - | 3,437 | - | - | - | - |
Foreign exchange (gain) loss | |||||||||||
- | - | - | - | - | - | -754 | 139 | -1,288 | 205 | 20 | 234 |
Lease termination costs and related asset impairment | |||||||||||
- | - | 0 | 2,946 | 342 | 2,416 | 7,188 | 1,261 | 1,281 | - | - | - |
Changes in operating assets and liabilities, net of effects of business acquisitions: | |||||||||||
Accounts receivable and contract assets | |||||||||||
10,226 | 46,273 | 64,781 | -9,062 | -40,345 | 32,020 | -87,367 | 39,960 | -2,046 | 23,161 | -156,174 | 156,139 |
Prepaid expenses and other assets | |||||||||||
-2,568 | 12,638 | 8,317 | -3,720 | -12,970 | 4,481 | 11,782 | -26,284 | 28,324 | -5,770 | 10,292 | 9,377 |
Accounts payable | |||||||||||
39,011 | -16,032 | 18,597 | -3,002 | -26,901 | 31,772 | -34,191 | -14,529 | -34,013 | -10,002 | -104,268 | 58,401 |
Accrued compensation | |||||||||||
18,359 | 27,492 | 13,413 | 8,434 | -7,676 | -4,728 | -16,385 | 15,678 | 11,157 | 4,582 | -12,935 | 19,440 |
Contract liabilities | |||||||||||
-6,039 | 15,228 | 28,298 | -13,874 | -10,319 | 23,833 | -16,830 | 2,425 | -1,669 | -19,957 | -5,102 | 42,110 |
Other liabilities | |||||||||||
-16,929 | 24,998 | 2,167 | -19,321 | -7,143 | -9,419 | 21,489 | 7,371 | 6,475 | 9,855 | -3,180 | 19,453 |
Income taxes receivable/payable | |||||||||||
-11,386 | 17,596 | -13,725 | -4,995 | 7,911 | 4,712 | -19,218 | 2,665 | 10,553 | 2,618 | 36,558 | 7,465 |
Cash settled contingent earn-out liability | |||||||||||
0 | 2,349 | 0 | 0 | - | - | - | - | - | - | - | - |
Net cash provided by operating activities | |||||||||||
208,513 | 185,733 | 137,992 | 142,020 | 162,847 | 127,376 | 137,750 | 158,021 | 131,623 | 106,842 | 198,248 | 68,380 |
Payments for business acquisitions, net of cash acquired | |||||||||||
84,159 | 68,256 | 8,039 | 81,259 | 11,680 | 30,251 | 171,349 | 55,014 | 269,996 | 78,905 | 114,743 | 77,771 |
Capital expenditures | |||||||||||
16,198 | 9,726 | 9,741 | 11,945 | 24,296 | 19,404 | 27,545 | 25,106 | 18,901 | 21,584 | 19,803 | 17,768 |
Payment received on note from sale of operation | |||||||||||
- | - | - | - | - | 3,900 | - | - | - | - | - | - |
Investments in unconsolidated joint ventures | |||||||||||
- | - | 85 | 1,368 | 0 | - | - | 430 | 530 | - | - | - |
Proceeds from Divestiture of Businesses | |||||||||||
651 | 35,348 | 905 | 3,076 | - | - | - | - | - | - | - | - |
Payment in settlement of foreign currency forward contract | |||||||||||
- | - | - | - | - | - | 4,177 | 4,192 | 4,216 | 3,960 | - | - |
Receipt in settlement of foreign currency forward contract | |||||||||||
- | - | - | - | - | - | 3,907 | 3,906 | 3,923 | 3,932 | - | - |
Changes in restricted cash | |||||||||||
- | - | 0 | 2,519 | -4,530 | - | -470 | - | 5,000 | - | - | - |
Proceeds from sale of discontinued operation | |||||||||||
- | - | - | - | - | - | - | - | - | - | 192 | 3,614 |
Proceeds from sale of property and equipment | |||||||||||
- | - | - | - | 10,426 | 4,594 | 2,089 | 1,037 | 879 | 3,128 | 1,055 | 2,089 |
Net cash used in investing activities | |||||||||||
-99,706 | -42,634 | -16,960 | -94,015 | -21,020 | -41,161 | -196,605 | -79,799 | -293,841 | -97,389 | -133,299 | -89,836 |
Cash flows from financing activities: | |||||||||||
Proceeds from borrowings | |||||||||||
417,262 | 401,965 | 243,553 | 229,049 | 64,794 | - | 296,389 | 52,672 | 67,618 | 120,000 | 118,290 | 15,000 |
Repayments on long-term debt | |||||||||||
415,491 | 485,946 | 233,889 | 148,887 | 75,459 | 4,379 | 171,400 | 120,792 | 43,047 | 2,673 | 168,711 | 41,713 |
Debt pre-payment costs | |||||||||||
0 | 1,737 | 0 | 1,935 | 1,457 | - | 2,136 | - | - | - | - | - |
Distributions paid to noncontrolling interests | |||||||||||
- | - | - | - | 515 | 417 | 445 | 9 | 1,702 | - | - | - |
Excess tax benefits from stock-based compensation | |||||||||||
- | - | - | 918 | 172 | 904 | 886 | 624 | 104 | 754 | 2,025 | 1,663 |
Repurchases of common stock | |||||||||||
100,000 | 75,000 | 100,000 | 99,500 | 100,500 | 80,000 | 20,000 | - | - | - | - | - |
Taxes paid on vested restricted stock | |||||||||||
6,893 | 8,871 | - | - | - | - | - | - | - | - | - | - |
Stock options exercised | |||||||||||
11,751 | 13,520 | 18,555 | 17,953 | 10,825 | 23,834 | 15,993 | 18,166 | 8,378 | 3,353 | 20,336 | 20,667 |
Dividends paid | |||||||||||
29,674 | 24,477 | 21,672 | 19,735 | 18,240 | 8,956 | - | - | - | - | - | - |
Payments of contingent earn-out liabilities | |||||||||||
12,018 | 1,412 | 1,319 | 3,251 | 3,199 | 18,663 | 33,672 | 18,055 | - | - | - | - |
Net cash used in financing activities | |||||||||||
-135,063 | -181,958 | -94,772 | -25,388 | -123,579 | -87,677 | 85,615 | -67,394 | 31,351 | 121,434 | -28,060 | -4,383 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | |||||||||||
-1,727 | -4,947 | 3,256 | 2,516 | -5,301 | -5,464 | -2,303 | 3,526 | 428 | 861 | 1,394 | - |
Net increase (decrease) in cash, cash equivalents and restricted cash | |||||||||||
-27,983 | -43,806 | 29,516 | 25,133 | 12,947 | -6,926 | 24,457 | 14,354 | -130,439 | 131,748 | 38,283 | -25,839 |
Supplemental information: | |||||||||||
Cash paid during the period for: | |||||||||||
Interest | |||||||||||
12,310 | 15,570 | 11,504 | 12,575 | 7,323 | 8,293 | 5,049 | 5,279 | 4,226 | 1,287 | 2,475 | 3,977 |
Income taxes, net of refunds received of $0.5 million and $0.9 million | |||||||||||
66,038 | 49,842 | 72,578 | 35,273 | 23,268 | 28,092 | 35,796 | 58,126 | 33,715 | 32,407 | -152 | 34,228 |