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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Jan. 31, 2024
Jan. 31, 2023
Cash flows from operating activities:    
Net income $ 106,949 $ 164,920
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 58,075 50,359
Stock-based compensation expense 30,260 26,910
Provision for doubtful accounts 17,204 16,725
Gain on marketable securities (22,801) (2,960)
Deferred income taxes (18,818) (9,082)
Gain on cash surrender value of life insurance policies (6,444) (7,439)
Impairment of right-of-use assets 1,629 5,471
Impairment of fixed assets 1,575 4,375
Change in other assets and liabilities:    
Accounts payable and accrued liabilities (147,559) (128,596)
Receivables due from clients (37,320) (35,739)
Deferred compensation 49,609 42,627
Unearned compensation (4,274) 8,130
Income taxes and other receivables (8,712) (26,439)
Income taxes payable 3,410 (17,492)
Prepaid expenses and other assets (158) 2,574
Other (520) (1,560)
Net cash provided by operating activities 22,105 92,784
Cash flows from investing activities:    
Purchase of property and equipment (43,287) (54,049)
Purchase of marketable securities (40,714) (53,530)
Proceeds from sales/maturities of marketable securities 38,138 53,697
Proceeds from life insurance policies 16,272 2,696
Premium on company-owned life insurance policies (14,953) (14,998)
Dividends received from unconsolidated subsidiaries 0 150
Cash paid for acquisitions, net of cash acquired 0 (99,322)
Net cash used in investing activities (44,544) (165,356)
Cash flows from financing activities:    
Dividends paid to shareholders (36,906) (24,940)
Repurchases of common stock (30,128) (82,456)
Payments of tax withholdings on restricted stock (10,609) (22,136)
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan 8,347 7,606
Dividends - noncontrolling interest (4,496) (4,721)
Principal payments on finance leases (1,361) (1,228)
Payments on life insurance policy loans (123) (2,244)
Net cash used in financing activities (75,276) (130,119)
Effect of exchange rate changes on cash and cash equivalents (9,512) (3,481)
Net decrease in cash and cash equivalents (107,227) (206,172)
Cash and cash equivalents at beginning of period 844,024 978,070
Cash and cash equivalents at end of the period $ 736,797 $ 771,898

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