v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net income (loss) $ 77,882 $ 34,684 $ (22,573)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation expense 16,984 20,747 22,408
Amortization of intangible assets 90,621 90,821 90,423
Amortization of cloud computing arrangements 4,919 3,314 480
Gain from acquisitions, net 0 (2,193) 0
Impairment of non-operating long-lived asset 0 2,192 0
(Gain) loss on disposal of property, plant, and equipment (3,024) 1,450 683
Stock-based compensation 11,924 15,969 32,843
Deferred taxes 9,334 7,730 (7,509)
Amortization of debt issuance costs 6,231 7,380 9,067
Loss on extinguishment of debt 2,527 1,998 22,298
Gain on disposition of business 0 0 (450)
Changes in assets and liabilities:      
Receivables (23,485) 25,181 19,064
Other assets 9,315 (42,334) 11,285
Accounts payable 5,460 75,335 43,153
Compensation and other employee benefits 9,122 9,128 (9,901)
Other liabilities (35,818) 2,835 (23,303)
Net cash provided by operating activities 181,992 254,237 187,968
Investing activities      
Purchases of capital assets and intangibles (11,923) (11,787) (25,021)
Proceeds from the disposition of assets 9,839 76 16
Acquisition of businesses, net of cash acquired (27,500) (16,939) 0
Disposition of business 0 0 1,349
Distributions from joint venture 0 0 1,007
Net cash used in investing activities (29,584) (28,650) (22,649)
Financing activities      
Proceeds from issuance of long-term debt 0 0 250,000
Repayments of long-term debt (15,013) (15,327) (432,603)
Proceeds from revolver 662,500 1,266,250 922,750
Repayments of revolver (662,500) (1,266,250) (922,750)
Proceeds from exercise of stock options 557 154 34
Purchase of treasury stock (30,000) 0 0
Payment of debt issuance costs (3,909) (1,188) (8,818)
Prepayment premium on early redemption of debt 0 0 (1,600)
Payments of employee withholding taxes on share-based compensation (3,115) (8,138) (18,036)
Net cash used in financing activities (51,480) (24,499) (211,023)
Exchange rate effect on cash (255) (5,418) 2,288
Net change in cash, cash equivalents and restricted cash 100,673 195,670 (43,416)
Cash, cash equivalents and restricted cash – beginning of year 268,321 72,651 116,067
Cash, cash equivalents and restricted cash – end of year 368,994 268,321 72,651
Supplemental Disclosure of Cash Flow Information:      
Interest paid 78,336 107,607 117,482
Income taxes paid, net of amounts refunded 9,632 8,819 8,356
Non-cash investing activities:      
Purchase of capital assets on account 1,446 22 3,043
Purchase of treasury stock on account $ 274 $ 0 $ 0