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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities    
Net income $ 154,518 $ 209,042
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 57,093 55,284
Amortization of operating lease right-of-use assets 5,544 5,025
Stock-based compensation expense 23,717 23,065
Deferred taxes 16,159 (1,823)
Foreign currency transaction losses 2,921 5,795
Other (288) (2,839)
Changes in operating assets and liabilities:    
(Increase) in accounts receivable (11,148) (11,677)
(Increase)/decrease in receivables from broker-dealers, clearing organizations and customers (226,736) 208,520
Decrease in prepaid expenses and other assets 4,358 3,203
(Decrease) in accrued employee compensation (8,841) (7,795)
Increase/(decrease) in payables to broker-dealers, clearing organizations and customers 139,132 (261,718)
Increase/(decrease) in income and other tax liabilities 82,217 (5,150)
(Decrease) in accounts payable, accrued expenses and other liabilities (8,557) (2,085)
(Decrease) in operating lease liabilities (6,665) (6,646)
Net cash provided by operating activities 223,507 208,989
Cash flows from investing activities    
Proceeds from maturities and sales 8,420 8,995
Purchases (9,231) (38,746)
Acquisition, net of cash acquired (36,515) 0
Purchases of furniture, equipment and leasehold improvements (4,632) (9,727)
Capitalization of software development costs (38,035) (35,790)
Net cash (used in) investing activities (79,993) (75,268)
Cash flows from financing activities    
Cash dividends on common stock (87,151) (84,999)
Exercise of stock options 0 2,421
Withholding tax payments on Full Value Awards vesting and stock option exercises (16,761) (15,263)
Repurchases of common stock (120,015) (58,629)
Proceeds from short-term borrowings 0 344,925
Repayments of short-term borrowings 0 (344,925)
Net cash (used in) financing activities (223,927) (156,470)
Effect of exchange rate changes on cash and cash equivalents 22,728 11,082
Cash and cash equivalents including restricted cash    
Net decrease for the period (57,685) (11,667)
Beginning of period 700,459 611,672
End of period 642,774 600,005
Supplemental cash flow information    
Cash paid for income taxes 28,764 76,044
Cash paid for interest 541 1,399
Non-cash investing and financing activity    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 372 1,647
Furniture, equipment, software and leasehold improvement additions included in accounts payable 2,473 646
Stock-based and accrued incentive compensation relating to capitalized software development costs 5,613 3,885
Exercise of stock options - cashless 0 1,735
Fair value of assets acquired 82,568 0
Cash paid for acquisition, net of cash and cash equivalents acquired (36,515) 0
Fair value of previously held interest on acquisition date (33,866) 0
Fair value of remaining noncontrolling interests on acquisition date (10,365) 0
Liabilities assumed 1,822 0
Trading Investments [Member]    
Changes in operating assets and liabilities:    
(Increase)/decrease in trading investments 198 (629)
Mutual Funds Held In Rabbi Trust [Member]    
Changes in operating assets and liabilities:    
(Increase)/decrease in trading investments $ (115) $ (583)