MAXIMUS INC
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
MMS$66.12+0.7%Stored close · as of Nov 10, 2026
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Consolidated Statements of Cash Flows
| For the Nine Months Ended | ||
|---|---|---|
| June 30, 2024 | June 30, 2023 | |
| (in thousands) | ||
| Cash flows from operating activities: | ||
| Net income | $234,410 | $102,646 |
| Adjustments to reconcile net income to cash flows from operations: | ||
| Depreciation and amortization of property, equipment, and capitalized software | 24,146 | 37,092 |
| Amortization of intangible assets | 68,532 | 70,599 |
| Amortization of debt issuance costs and debt discount | 2,899 | 2,236 |
| Deferred income taxes | (3,770) | 2,375 |
| Stock compensation expense | 27,605 | 22,239 |
| Loss on sale of businesses | 1,018 | 883 |
| Change in assets and liabilities, net of effects of business combinations: | ||
| Accounts receivable | (26,528) | 7,675 |
| Prepaid expenses and other current assets | 19,316 | 21,101 |
| Deferred contract costs | (8,377) | 2,245 |
| Accounts payable and accrued liabilities | (1,659) | 16,915 |
| Accrued compensation and benefits | (21,043) | (31,612) |
| Deferred revenue | 18,079 | (31,747) |
| Income taxes | 10,576 | (33,186) |
| Operating lease right-of-use assets and liabilities | (2,131) | (3,742) |
| Other assets and liabilities | 8,351 | (15,968) |
| Net cash provided by operating activities | 351,424 | 169,751 |
| Cash flows from investing activities: | ||
| Purchases of property and equipment and capitalized software | (82,237) | (58,863) |
| Asset acquisition | (18,006) | — |
| Proceeds from divestitures | 3,078 | 9,124 |
| Net cash used in investing activities | (97,165) | (49,739) |
| Cash flows from financing activities: | ||
| Cash dividends paid to Maximus shareholders | (54,847) | (51,053) |
| Purchases of Maximus common stock | (47,275) | — |
| Tax withholding related to RSU vesting | (13,455) | (8,475) |
| Payments for contingent consideration | (10,977) | (6,662) |
| Payments for debt financing costs | (9,724) | — |
| Proceeds from borrowings | 850,166 | 682,398 |
| Principal payments for debt | (952,825) | (730,514) |
| Cash-collateralized escrow liabilities | 9,118 | (54,543) |
| Net cash used in financing activities | (229,819) | (168,849) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 1,270 | 3,735 |
| Net change in cash, cash equivalents, and restricted cash | 25,710 | (45,102) |
| Cash, cash equivalents, and restricted cash, beginning of period | 122,091 | 136,795 |
| Cash, cash equivalents, and restricted cash, end of period | $147,801 | $91,693 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.