v3.22.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income $ 134,761 $ 239,186
Adjustments to reconcile net income to cash flows from operating activities:    
Depreciation and amortization of property, equipment and capitalized software 29,875 33,664
Amortization of intangible assets 67,951 23,718
Amortization of debt issuance costs and debt discount 1,946 0
Costs related to debt financing 0 8,509
Deferred income taxes (7,179) 3,632
Stock compensation expense 22,080 20,823
Change in assets and liabilities, net of effects of business combinations:    
Accounts receivable (39,997) (254,304)
Prepaid expenses and other current assets 9,454 7,542
Deferred contract costs (7,702) (15,773)
Accounts payable and accrued liabilities (42,577) 116,873
Accrued compensation and benefits 13,846 34,387
Deferred revenue 342 23,624
Income taxes (12,822) 15,165
Operating lease right-of-use assets and liabilities (1,330) 1,077
Other assets and liabilities 1,128 (11,464)
Net cash provided by operating activities 169,776 246,659
Cash flows from investing activities:    
Purchases of property and equipment and capitalized software (35,936) (32,133)
Acquisitions of businesses, net of cash acquired (14,144) (1,779,473)
Other 2,000 0
Net cash used in investing activities (48,080) (1,811,606)
Cash flows from financing activities:    
Cash dividends paid to Maximus shareholders (51,762) (51,625)
Purchases of Maximus common stock (73,864) (3,363)
Tax withholding related to RSU vesting (9,673) (9,818)
Payments for debt financing 0 (22,759)
Proceeds from borrowings 415,000 2,285,000
Principal payments for debt (442,973) (607,880)
Other 0 (2,763)
Net cash (used in)/provided by financing activities (163,272) 1,586,792
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (4,369) 2,830
Net change in cash, cash equivalents, and restricted cash (45,945) 24,675
Cash, cash equivalents and restricted cash, beginning of period 156,570 88,561
Cash, cash equivalents and restricted cash, end of period $ 110,625 $ 113,236

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