v3.26.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Operating activities    
Net income $ 178,890 $ 216,340
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of property and equipment 37,357 33,591
Amortization of intangible assets 1,689 2,850
Amortization of notes receivable 66,188 50,767
Amortization of tax equity investment 25,389 0
Provision for expected credit losses 24,762 25,810
Share-based compensation 31,567 28,694
Deferred income taxes 3,413 18,216
Other 3,176 432
Changes in operating assets and liabilities:    
Accounts receivable, billed and unbilled (191,147) (122,707)
Notes receivable, net of repayments (53,314) (251,576)
Prepaid expenses and other assets (6,960) (9,199)
Accounts payable, accrued expenses and other 17,352 (3,858)
Income taxes (26,945) (78,708)
Accrued compensation (86,898) (110,111)
Billings in excess of services provided 8,160 (8,165)
Net cash provided by (used in) operating activities 32,679 (207,624)
Investing activities    
Purchases of property and equipment and other (30,340) (50,142)
Payment for tax equity investment (42,101) 0
Net cash used in investing activities (72,441) (50,142)
Financing activities    
Borrowings under revolving line of credit 1,317,000 1,040,000
Repayments under revolving line of credit (1,130,000) (530,000)
Proceeds from issuance of term loan 300,000 0
Payments of debt issuance costs (5,401) 0
Purchase and retirement of common stock, including excise tax (605,272) (770,889)
Share-based compensation tax withholdings (11,320) (18,295)
Deposits and other 2,781 1,901
Net cash used in financing activities (132,212) (277,283)
Effect of exchange rate changes on cash and cash equivalents (5,020) 20,523
Net decrease in cash and cash equivalents (176,994) (514,526)
Cash and cash equivalents, beginning of period 265,091 660,493
Cash and cash equivalents, end of period 88,097 145,967
Supplemental cash flow disclosures    
Cash paid for interest 28,429 9,339
Cash paid for income taxes and tax credits, net of refunds 48,011 128,400
Non-cash investing and financing activities:    
Issuance of stock units under incentive compensation plans 3,587 2,069
Excise tax on purchase and retirement of common stock 5,967 7,081
Non-cash additions to property and equipment $ 1,328 $ 2,119