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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities    
Net income $ 154,629 $ 127,021
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 19,127 17,232
Amortization of operating lease right-of-use assets 4,304  
Stock-based compensation expense 19,069 11,551
Deferred taxes 73 162
Other 886 2,005
Changes in operating assets and liabilities:    
(Increase) in accounts receivable (15,479) (9,560)
Decrease in prepaid expenses and other assets 3,855 97
Decrease (Increase) in trading securities (371) 6,671
(Decrease) in accrued employee compensation (3,971) (5,034)
(Decrease) in income and other tax liabilities (3,279) (755)
Increase in deferred revenue 921 1,125
(Decrease) increase in accounts payable, accrued expenses and other liabilities (2,000) 4,614
Increase in operating lease liabilities 800  
Net cash provided by operating activities 176,794 153,812
Cash flows from investing activities    
Proceeds from maturities and sales, available-for-sale investments 156,809 256,301
Purchases, available-for-sale investments (149,575) (260,318)
Purchases of furniture, equipment and leasehold improvements (8,683) (23,821)
Capitalization of software development costs (13,863) (9,171)
Other 22 25
Net cash (used in) investing activities (15,290) (36,984)
Cash flows from financing activities    
Cash dividend on common stock (57,233) (46,893)
Exercise of stock options 885 1,387
Withholding tax payments on restricted stock vesting and stock option exercises (18,271) (7,940)
Repurchases of common stock (11,440) (18,985)
Net cash (used in) financing activities (86,059) (72,431)
Effect of exchange rate changes on cash and cash equivalents (1,261) (1,326)
Cash and cash equivalents including restricted cash    
Net increase for the period 74,184 43,071
Beginning of period 247,458 168,150
End of period 321,642 211,221
Non-cash activity    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 422  
Mutual Funds Held In Rabbi Trust [Member]    
Changes in operating assets and liabilities:    
Decrease (Increase) in trading securities $ (1,770) $ (1,317)