v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash flows from operating activities:    
Net income $ 103,426 $ 144,691
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization of property, equipment and capitalized software 21,199 22,835
Amortization of intangible assets 45,261 11,586
Amortization of debt issuance costs and debt discount 1,297 0
Deferred income taxes (3,318) 7,951
Stock compensation expense 15,052 13,479
Change in assets and liabilities, net of effects of business combinations:    
Accounts receivable (49,064) 70,217
Prepaid expenses and other current assets 9,769 8,074
Deferred contract costs (6,431) (9,184)
Accounts payable and accrued liabilities (3,047) 12,395
Accrued compensation and benefits (28,281) (16,761)
Deferred revenue 18,473 13,296
Income taxes (13,515) 3,230
Operating lease right-of-use assets and liabilities (1,293) (414)
Other assets and liabilities 2,331 (1,697)
Net cash provided by operating activities 111,859 279,698
Cash flows from investing activities:    
Purchases of property and equipment and capitalized software (22,898) (23,584)
Acquisitions of businesses, net of cash acquired (4) (413,940)
Net cash used in investing activities (22,902) (437,524)
Cash flows from financing activities:    
Cash dividends paid to Maximus shareholders (34,659) (34,414)
Purchases of Maximus common stock (25,843) (3,363)
Tax withholding related to RSU vesting (9,673) (9,818)
Proceeds from borrowings 240,000 500,162
Principal payments for debt (303,708) (263,838)
Other 0 (2,762)
Net cash (used in)/provided by financing activities (133,883) 185,967
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 324 3,263
Net change in cash, cash equivalents, and restricted cash (44,602) 31,404
Cash, cash equivalents and restricted cash, beginning of period 156,570 88,561
Cash, cash equivalents and restricted cash, end of period $ 111,968 $ 119,965

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