Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net income (loss) $ (5,399) $ 36,010
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 37,183 36,110
Deferred income taxes (4,991) 243
Amortization of debt issuance costs 1,613 1,759
Amortization of contract assets 2,470 2,166
Amortization of right-of-use assets 3,456 1,355
Amortization of unrealized gains on terminated interest rate swap agreements (4,802) (6,263)
Amortization of cloud computing software costs 3,285 466
Stock-based compensation 9,071 7,305
Other non-cash charges, net (344) 1,473
Changes in operating assets and liabilities:    
Accounts receivable (4,917) (34,969)
Prepaid expenses and other current assets (435) 1,924
Cloud computing software (8,368) (16,475)
Other non-current assets (3,317) (2,732)
Accounts payable (905) (10,154)
Accrued expenses and other current liabilities (5,249) 23,158
Accrued salaries and payroll (3,002) (2,136)
Operating lease liabilities, net (2,605) (2,604)
Other non-current liabilities (172) (770)
Net cash provided by operating activities 12,572 35,866
Cash flows from investing activities    
Purchases of property and equipment (2,102) (2,763)
Capitalized software development (5,261) (5,417)
Other investing (2,000) 0
Net cash used in investing activities (9,363) (8,180)
Cash flows from financing activities    
Repayments of debt (4,175) (4,175)
Payments for termination of interest rate swap agreements 0 (18,445)
Repurchases of common stock (85,759) 0
Proceeds from issuance of common stock in connection with stock-based compensation plans 613 0
Other financing (72) (342)
Net cash used in financing activities (89,393) (22,962)
Net increase (decrease) in cash, cash equivalents and restricted cash (86,184) 4,724
Effect of exchange rates 274 (1,397)
Cash, cash equivalents and restricted cash    
Beginning of year 163,402 116,214
End of period 77,492 119,541
Cash paid for    
Interest 30,843 16,945
Income taxes 963 1,529
Supplemental schedule of non-cash activities    
Unpaid property and equipment and capitalized software purchases $ 662 $ 1,939