XML 25 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows
$ in Millions
6 Months Ended
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Cash Flows from Operating Activities:    
Net income $ 271.0 $ 178.6
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 78.5 90.9
Amortization of debt issuance cost and debt discount 1.0 1.2
Change in fair value of contingent consideration   1.6
Realized gain on available-for-sale securities (0.4) (0.7)
Provision for credit losses 0.4 0.6
Provision for deferred income taxes (11.0) (11.0)
Stock-based compensation expense 12.9 11.7
Impairment of assets held for sale 8.1 6.1
Impairment of goodwill   10.5
Equity in investments (0.7) (4.5)
Changes in assets and liabilities:    
Accounts receivable (144.2) 41.5
Income taxes receivable 56.8  
Other current assets (1.8) (5.2)
Other assets (12.1)  
Accounts payable and accrued liabilities 45.3 (51.9)
Section 31 fees payable 148.5 38.1
Deferred revenue 11.6 4.6
Income taxes payable 11.1 (2.5)
Unrecognized tax benefits 12.9 12.5
Other liabilities 0.4 (4.5)
Net cash provided by operating activities 488.3 317.6
Cash flows from investing activities:    
Acquisitions, net of cash acquired (66.6)  
Purchases of available-for-sale financial investments (154.9) (61.8)
Proceeds from maturities of available-for-sale financial investments 47.3 35.5
Return of capital from investments 4.5 22.0
Contributions to investments (4.7)  
Purchases of property and equipment (17.2) (19.1)
Net cash used in investing activities (191.6) (23.4)
Cash flows from financing activities:    
Principal payments of long term debt   (300.0)
Cash dividends paid on common stock (79.5) (69.6)
Repurchases of common stock from employee stock plans (14.1) (10.4)
Exercise of common stock options 0.2 8.5
Payment of contingent consideration from acquisition (2.2)  
Purchase of common stock (219.3) (35.0)
Net cash used in financing activities (314.9) (406.5)
Effect of foreign currency exchange rates on cash and cash equivalents (1.0) (1.5)
Decrease in cash and cash equivalents (19.2) (113.8)
Cash and cash Equivalents: Beginning of Period 229.3 275.1
Cash and cash Equivalents: End of Period 210.1 161.3
Supplemental disclosure of cash transactions:    
Cash paid for income taxes 33.3 67.3
Cash paid for interest 14.4 $ 16.7
Supplemental disclosure of noncash investing activities:    
Accounts receivable acquired 0.7  
Other current assets acquired 0.4  
Goodwill acquired 66.4  
Intangible assets acquired 22.3  
Accounts payable and accrued expenses assumed (1.4)  
Deferred revenue acquired (1.3)  
Contingent consideration related to acquisitions $ (20.5)