v3.24.1.u1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net income $ 144,658 $ 71,783
Adjustments to reconcile net income to cash flows from operations:    
Depreciation and amortization of property, equipment, and capitalized software 16,616 26,321
Amortization of intangible assets 44,990 47,168
Amortization of debt issuance costs and debt discount 1,202 1,635
Deferred income taxes (8,315) (1,368)
Stock compensation expense 18,124 13,943
Loss on sale of businesses 1,018 883
Change in assets and liabilities, net of effects of business combinations:    
Accounts receivable (92,385) 62,529
Prepaid expenses and other current assets 19,932 13,412
Deferred contract costs (3,600) 583
Accounts payable and accrued liabilities (6,301) (6,361)
Accrued compensation and benefits (10,556) (14,222)
Deferred revenue 10,705 (18,347)
Income taxes 13,310 (6,578)
Operating lease right-of-use assets and liabilities (385) (2,072)
Other assets and liabilities 3,083 (14,272)
Net cash provided by operating activities 152,096 175,037
Cash flows from investing activities:    
Purchases of property and equipment and capitalized software (47,547) (33,751)
Asset acquisition (18,006) 0
Proceeds from divestitures 3,078 9,124
Net cash used in investing activities (62,475) (24,627)
Cash flows from financing activities:    
Cash dividends paid to Maximus shareholders (36,608) (34,033)
Tax withholding related to RSU vesting (13,455) (8,475)
Payments for contingent consideration (8,168) (4,041)
Proceeds from borrowings 423,409 462,398
Principal payments for debt (464,787) (530,460)
Cash-collateralized escrow liabilities 5,122 (57,060)
Net cash used in financing activities (94,487) (171,671)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 1,115 3,186
Net change in cash, cash equivalents, and restricted cash (3,751) (18,075)
Cash, cash equivalents, and restricted cash, beginning of period 122,091 136,795
Cash, cash equivalents, and restricted cash, end of period $ 118,340 $ 118,720

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