v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating activities    
Net income $ 147,992 $ 130,853
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 17,733 16,892
Amortization of debt issuance costs 770 550
Amortization of acquired intangible assets 3,112 4,320
Allowance for credit losses (refer to Note 4) 4,719 7,294
Unrealized loss/(gain) on revaluation of foreign currency assets/liabilities (3,400) 3,207
Stock-based compensation expense 22,273 20,036
Deferred tax expense 8,563 8,063
Others, net (48) (66)
Change in operating assets and liabilities:    
Decrease (increase) in accounts receivable (29,014) 6,972
Increase in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets (45,931) (23,915)
Increase (decrease) in accounts payable (1,939) 1,835
Decrease in accrued expenses, other current liabilities, operating leases liabilities and other liabilities (148,811) (140,240)
Increase in income taxes payable 446 4,635
Net cash provided by (used for) operating activities (23,535) 40,436
Investing activities    
Purchase of property, plant and equipment (23,930) (21,979)
Payment for internally generated intangible assets (including intangible assets under development) (7,516) (601)
Proceeds from maturity of short term investments 0 23,359
Net cash provided by (used for) investing activities (31,446) 779
Financing activities    
Repayment of finance lease obligations (2,423) (2,349)
Payment of debt issuance and refinancing costs (394) 0
Repayment of long-term debt (6,625) (6,625)
Proceeds from issuance of common shares under stock-based compensation plans 2,818 6,943
Payment for net settlement of stock-based awards (18,445) (30,742)
Dividend paid (31,773) (29,784)
Payment of earn-out consideration (77,500) 0
Payment for stock repurchased and retired (including expenses related to stock repurchased) (69,992) (62,987)
Net cash used for financing activities (204,334) (125,544)
Net decrease in cash and cash equivalents (259,315) (84,329)
Effect of exchange rate changes (16,442) (2,302)
Cash and cash equivalents at the beginning of the period 853,836 648,246
Cash and cash equivalents at the end of the period 578,079 561,615
Supplementary information    
Cash paid during the period for interest 6,623 7,145
Cash paid during the period for income taxes, net of refund $ 40,336 $ 21,402