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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Cash flows from operating activities    
Net income $ 74,816 $ 52,522
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 8,067 6,082
Amortization of operating lease right-of-use assets 1,645 1,291
Stock-based compensation expense 6,677 5,196
Deferred taxes 2,734 2,022
Other 2,036 (587)
Changes in operating assets and liabilities:    
(Increase) in accounts receivable (31,640) (13,453)
Decrease in prepaid expenses and other assets 8,539 5,264
Decrease in trading investments 56,394 6,015
(Decrease) in accrued employee compensation (25,436) (22,354)
Increase in income and other tax liabilities 1,950 2,267
Increase in deferred revenue 451 735
Increase (decrease) in accounts payable, accrued expenses and other liabilities 15,941 (3,764)
(Decrease) in operating lease liabilities (1,516) (321)
Net cash provided by operating activities 120,369 39,369
Cash flows from investing activities    
Acquisition of business, net of cash and cash equivalents acquired (533)  
Proceeds from maturities and sales, available-for-sale investments 45,154 67,603
Purchases, available-for-sale investments (8,995) (53,193)
Purchases of furniture, equipment and leasehold improvements (4,291) (649)
Capitalization of software development costs (6,778) (3,184)
Other   (15)
Net cash provided by investing activities 24,557 10,562
Cash flows from financing activities    
Cash dividend on common stock (23,244) (19,412)
Exercise of stock options 80 172
Withholding tax payments on restricted stock vesting and stock option exercises (21,243) (11,803)
Repurchases of common stock (5,415) (5,184)
Net cash (used in) financing activities (49,822) (36,227)
Effect of exchange rate changes on cash and cash equivalents (3,360) 943
Cash and cash equivalents including restricted cash    
Net increase for the period 91,744 14,647
Beginning of period 274,253 247,458
End of period 365,997 262,105
Non-cash activity    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 674  
Mutual Funds Held In Rabbi Trust [Member]    
Changes in operating assets and liabilities:    
Decrease in trading investments $ (289) $ (1,546)