v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating activities    
Net income $ 293,729 $ 263,569
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 35,000 34,089
Amortization of debt issuance costs 1,414 1,105
Amortization of acquired intangible assets 6,399 8,637
Allowance for credit losses (refer to Note 4) 9,410 18,363
Unrealized (gain)/loss on revaluation of foreign currency assets/liabilities 786 3,068
Stock-based compensation expense 48,632 41,834
Deferred tax (benefit) expense (649) 9,307
Others, net 116 (89)
Change in operating assets and liabilities:    
Increase in accounts receivable (175,331) (58,694)
Increase in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets (111,828) (69,358)
Increase (Decrease) in accounts payable (12,096) 9,561
Decrease in accrued expenses, other current liabilities, operating leases liabilities and other liabilities (55,938) (63,608)
Increase in income taxes payable 9,264 20,017
Net cash provided by operating activities 48,908 217,801
Investing activities    
Purchase of property, plant and equipment (37,855) (44,201)
Payment for internally generated intangible assets (including intangibles under development) (16,093) (2,987)
Payment for business acquisitions, net of cash acquired 0 (80,621)
Proceeds from sale of property, plant and equipment 3,717 30
Proceeds from maturity of short term investments 350,000 23,359
Net cash provided by (used for) investing activities 299,769 (104,420)
Financing activities    
Repayment of finance lease obligations (3,826) (4,487)
Payment of debt issuance and refinancing costs (394) 0
Repayment of long-term debt (363,250) (13,250)
Proceeds from short-term borrowings 0 85,000
Proceeds from issuance of common shares under stock-based compensation plans 5,118 9,345
Payment for net settlement of stock-based awards (22,096) (30,874)
Dividend paid (63,325) (59,408)
Payment of earn-out consideration (77,500) 0
Payment for stock repurchased and retired (including expenses related to stock repurchased) (120,007) (92,999)
Net cash used for financing activities (645,280) (106,673)
Net (decrease) increase in cash and cash equivalents (296,603) 6,708
Effect of exchange rate changes (39,846) 8,306
Cash and cash equivalents at the beginning of the period 853,836 648,246
Cash and cash equivalents at the end of the period 517,387 663,260
Supplementary information    
Cash paid during the period for interest 36,928 29,790
Cash paid during the period for income taxes, net of refund $ 84,244 $ 52,192