v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Jul. 31, 2021
Jul. 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 76,397 $ (30,855)
Adjustments to reconcile net income (loss) to net cash used by operating activities:    
Depreciation and amortization 15,644 15,035
Stock-based compensation expense 7,158 5,965
Provision for doubtful accounts 4,599 4,626
Gain on cash surrender value of life insurance policies (531) (2,105)
Gain on marketable securities (5,242) (11,550)
Deferred income taxes 4,587 4,072
Change in other assets and liabilities:    
Deferred compensation 17,861 19,332
Receivables due from clients (68,787) 17,382
Income taxes and other receivables 2,527 (2,889)
Prepaid expenses and other assets (10,325) (8,134)
Unearned compensation (37,274) (24,317)
Income taxes payable 5,536 (11,409)
Accounts payable and accrued liabilities (173,520) (123,781)
Other 825 4,366
Net cash used in operating activities (160,545) (144,262)
Cash flows from investing activities:    
Purchase of property and equipment (9,010) (8,787)
Purchase of marketable securities (26,566) (19,216)
Proceeds from sales/maturities of marketable securities 23,108 14,549
Premium on company-owned life insurance policies (277) (347)
Proceeds from life insurance policies 2,277 591
Dividends received from unconsolidated subsidiaries 115  
Net cash used in investing activities (10,353) (13,210)
Cash flows from financing activities:    
Payments of tax withholdings on restricted stock (17,627) (4,442)
Proceeds from issuance of common stock upon exercise of employee stock options and in connection with an employee stock purchase plan 3,593 3,371
Dividends paid to shareholders (6,866) (5,807)
Principal payments on finance leases (289) (331)
Repurchases of common stock (2,464)  
Payments on life insurance policy loans   (596)
Net cash used in financing activities (23,653) (7,805)
Effect of exchange rate changes on cash and cash equivalents (6,923) 18,819
Net decrease in cash and cash equivalents (201,474) (146,458)
Cash and cash equivalents at beginning of period 850,778 689,244
Cash and cash equivalents at end of the period $ 649,304 $ 542,786

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