v3.25.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating activities    
Net income $ 263,569 $ 238,937
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 34,089 34,542
Amortization of debt issuance costs 1,105 1,037
Amortization of acquired intangible assets 8,637 13,485
Allowance for credit losses (refer to Note 4) 18,363 12,638
Unrealized (gain)/loss on revaluation of foreign currency assets/liabilities 3,068 (7,214)
Stock-based compensation expense 41,834 27,550
Deferred tax expense 9,307 15,873
Others, net (89) 173
Change in operating assets and liabilities:    
Increase in accounts receivable (58,694) (54,326)
Increase in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets (69,358) (22,823)
Increase in accounts payable 9,561 997
Decrease in accrued expenses, other current liabilities, operating leases liabilities and other liabilities (63,608) (82,850)
Increase in income taxes payable 20,017 5,694
Net cash provided by operating activities 217,801 183,713
Investing activities    
Purchase of property, plant and equipment (44,201) (43,276)
Payment for internally generated intangible assets (including intangibles under development) (2,987) (1,260)
Payment for business acquisitions, net of cash acquired (80,621) 0
Proceeds from sale of property, plant and equipment 30 116
Proceeds from maturity of short term investments 23,359 0
Net cash used for investing activities (104,420) (44,420)
Financing activities    
Repayment of finance lease obligations (4,487) (5,569)
Payment of debt issuance and refinancing costs 0 (3,305)
Proceeds of long-term debt 0 400,000
Repayment of long-term debt (13,250) (19,875)
Proceeds from short-term borrowings 85,000 50,000
Repayment of short-term borrowings 0 (60,000)
Proceeds from issuance of common shares under stock-based compensation plans 9,345 9,720
Payment for net settlement of stock-based awards (30,874) (21,142)
Dividend paid (59,408) (54,829)
Payment for stock repurchased and retired (including expenses related to stock repurchased) (92,999) (92,686)
Net cash (used for) provided by financing activities (106,673) 202,314
Net increase in cash and cash equivalents 6,708 341,607
Effect of exchange rate changes 8,306 (11,106)
Cash and cash equivalents at the beginning of the period 648,246 583,670
Cash and cash equivalents at the end of the period 663,260 914,171
Supplementary information    
Cash paid during the period for interest 29,790 30,625
Cash paid during the period for income taxes, net of refund $ 52,192 $ 45,883