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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities    
Net Income (Loss) $ 133,487 $ 131,691
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 33,466 30,414
Amortization of operating lease right-of-use assets 2,717 2,999
Stock-based compensation expense 14,378 14,602
Deferred taxes (2,442) (2,164)
Foreign currency transaction (gains) losses 3,932 0
Other (2,641) (1,068)
Changes in operating assets and liabilities:    
(Increase) in accounts receivable (13,078) (23,728)
Decrease (increase) in receivables from broker-dealers, clearing organizations and customers 19,154 (190,074)
(Increase) in prepaid expenses and other assets (12,413) (3,632)
(Decrease) in accrued employee compensation (20,746) (24,034)
(Decrease) increase in payables to broker-dealers, clearing organizations and customers (21,749) 145,886
(Decrease) in income and other tax liabilities (7,720) (10,175)
(Decrease) increase in accounts payable, accrued expenses and other liabilities (9,762) 1,141
(Decrease) in operating lease liabilities (3,109) (3,287)
Net cash provided by operating activities 112,921 69,907
Cash flows from investing activities    
Proceeds from maturities and sales 1,971 0
Purchases (26,751) 0
Acquisition of equity method investment 0 (34,400)
Purchases of furniture, equipment and leasehold improvements (1,272) (2,681)
Capitalization of software development costs (21,715) (18,561)
Net cash (used in) investing activities (47,767) (55,642)
Cash flows from financing activities    
Cash dividend on common stock (55,248) (53,527)
Exercise of stock options 725 136
Withholding tax payments on restricted stock vesting and stock option exercises (20,647) (19,953)
Repurchases of common stock 0 (87,540)
Payment of contingent consideration (12,500) (26,164)
Proceeds from short-term borrowings 50,000 100,000
Repayments of short-term borrowings (50,000) (100,000)
Net cash (used in) financing activities (87,670) (187,048)
Effect of exchange rate changes on cash and cash equivalents 7,181 (23,894)
Cash and cash equivalents including restricted cash    
Net decrease for the period (15,335) (196,677)
Beginning of period 572,664 625,567
End of period 557,329 428,890
Supplemental cash flow information    
Cash paid for income taxes 63,801 47,991
Cash paid for interest 241 429
Non-cash activity    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 0 1,651
Trading Investments [Member]    
Changes in operating assets and liabilities:    
(Increase) decrease in trading investments (471) 0
Mutual Funds Held In Rabbi Trust [Member]    
Changes in operating assets and liabilities:    
(Increase) decrease in trading investments $ (1,024) $ 1,336