Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operations:    
Net income $ 144,691 $ 86,384
Adjustments to reconcile net income to cash flows from operations:    
Depreciation and amortization of property and equipment and capitalized software 22,835 31,218
Amortization of intangible assets 11,586 18,022
Deferred income taxes 7,951 3,038
Stock compensation expense 13,479 11,800
Change in assets and liabilities, net of effects of business combinations    
Accounts receivable — billed and billable 83,711 (52,870)
Accounts receivable — unbilled (13,494) 2,289
Prepaid expenses and other current assets 8,074 4,262
Deferred contract costs (9,184) (497)
Accounts payable and accrued liabilities 12,395 22,322
Accrued compensation and benefits (16,761) 3,839
Deferred revenue 13,296 5,300
Income taxes 3,230 (27,706)
Operating lease right-of-use assets and liabilities (414) 166
Other assets and liabilities (1,697) 1,705
Cash flows from operations 279,698 109,272
Cash flows from investing activities:    
Purchases of property and equipment and capitalized software costs (23,584) (19,122)
Acquisitions of businesses, net of cash acquired (413,940) (2,551)
Other 0 98
Cash used in investing activities (437,524) (21,575)
Cash flows from financing activities:    
Cash dividends paid to Maximus shareholders (34,414) (35,813)
Purchases of Maximus common stock (3,363) (166,959)
Tax withholding related to RSU vesting (9,818) (10,614)
Borrowings of debt 500,162 341,715
Repayment of debt (263,838) (191,256)
Other (2,762) (652)
Cash provided by/(used in) financing activities 185,967 (63,579)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 3,263 (1,868)
Net increase in cash, cash equivalents, and restricted cash 31,404 22,250
Cash, cash equivalents, and restricted cash, beginning of period 88,561 116,492
Cash, cash equivalents, and restricted cash, end of period $ 119,965 $ 138,742