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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income $ 204,902 $ 172,852 $ 148,089
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 26,857 23,080 19,274
Amortization of operating lease right-of-use assets 5,795    
Stock-based compensation expense 25,294 15,850 14,421
Deferred taxes 2,682 (1,258) 6,590
Other (786) 2,338 1,953
Changes in operating assets and liabilities:      
(Increase) in accounts receivable (2,962) (5,117) (2,353)
(Increase) in prepaid expenses and other assets (4,624) (3,791) (7,039)
Decrease (Increase) in trading securities 4,045 856 (17,081)
Increase in accrued employee compensation 8,312 2,551 1,719
Increase in income and other tax liabilities 187 2,965 5,770
Increase in deferred revenue 689 150 145
(Decrease) increase in accounts payable, accrued expenses and other liabilities (1,509) 14,374 (1,614)
(Decrease) in operating lease liabilities (829)    
Net cash provided by operating activities 265,935 223,917 168,035
Cash flows from investing activities      
Acquisition of business, net of cash and cash equivalents acquired (97,430)    
Proceeds from maturities and sales, available-for-sale investments 170,936 333,791 187,794
Purchases, available-for-sale investments (160,827) (336,533) (215,831)
Purchases of furniture, equipment and leasehold improvements (12,292) (35,888) (12,086)
Capitalization of software development costs (22,408) (11,705) (13,471)
Other (30) 39 (59)
Net cash (used in) investing activities (122,051) (50,296) (53,653)
Cash flows from financing activities      
Cash dividend on common stock (76,231) (62,432) (48,888)
Exercise of stock options 1,207 2,973 1,972
Withholding tax payments on restricted stock vesting and stock option exercises (25,820) (8,043) (27,691)
Repurchases of common stock (17,256) (25,171) (42,461)
Net cash (used in) financing activities (118,100) (92,673) (117,068)
Effect of exchange rate changes on cash and cash equivalents 1,011 (1,640) 1,457
Cash and cash equivalents including restricted cash      
Net increase (decrease) for the period 26,795 79,308 (1,229)
Beginning of period 247,458 168,150 169,379
End of period 274,253 247,458 168,150
Supplemental cash flow information:      
Cash paid during the year for income taxes 51,766 47,208 43,997
Right-of-use assets obtained in exchange for operating lease liabilities 7,464    
Non-cash investing and financing activity:      
Fair value of assets acquired 148,425    
Acquisition of business, net of cash and cash equivalents acquired (97,430)    
Treasury stock used for acquisition of business (48,830)    
Liabilities assumed 2,165    
Mutual Funds Held In Rabbi Trust [Member]      
Changes in operating assets and liabilities:      
Decrease (Increase) in trading securities $ (2,118) $ (933) $ (1,839)