v3.21.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operations:    
Net income $ 239,186 $ 150,848
Adjustments to reconcile net income to cash flows from operations:    
Depreciation and amortization of property and equipment and capitalized software 33,664 47,496
Amortization of intangible assets 23,718 26,734
Deferred income taxes 3,632 (5,210)
Stock compensation expense 20,823 17,558
Gain on sale of a business 0 (1,706)
Costs related to debt financing 8,509 0
Change in assets and liabilities, net of effects of business combinations    
Accounts receivable — billed and billable (83,881) (147,626)
Accounts receivable — unbilled (170,423) (80,267)
Prepaid expenses and other current assets 7,542 529
Deferred contract costs (15,773) (1,396)
Accounts payable and accrued liabilities 116,873 48,622
Accrued compensation and benefits 34,387 33,647
Deferred revenue 23,624 2,806
Income taxes 15,165 563
Operating lease right-of-use assets and liabilities 1,077 (1,071)
Other assets and liabilities (11,464) 4,556
Cash flows from operations 246,659 96,083
Cash flows from investing activities:    
Purchases of property and equipment and capitalized software costs (32,133) (28,436)
Acquisitions of businesses, net of cash acquired (1,779,473) (2,611)
Proceeds from the sale of a business 0 3,250
Other 0 385
Cash used in investing activities (1,811,606) (27,412)
Cash flows from financing activities:    
Cash dividends paid to Maximus shareholders (51,625) (52,988)
Purchases of Maximus common stock (3,363) (166,959)
Tax withholding related to RSU vesting (9,818) (10,614)
Payments for debt financing (22,759) 0
Borrowings under new credit facilities 1,700,000 0
Other debt borrowings 585,000 421,488
Other debt repayments (607,880) (278,971)
Other (2,763) (957)
Cash provided by/(used in) financing activities 1,586,792 (89,001)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 2,830 (174)
Net increase in cash, cash equivalents, and restricted cash 24,675 (20,504)
Cash, cash equivalents, and restricted cash, beginning of period 88,561 116,492
Cash, cash equivalents, and restricted cash, end of period $ 113,236 $ 95,988

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