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Unaudited Consolidated Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 346,456 $ 294,025
Accounts receivable 20,034 16,442
Prepaid expenses 46,529 37,613
Inventory 1,415 1,383
Income tax receivable   18,391
Deferred contract costs 128,728 118,206
Current assets before funds held for clients 543,162 486,060
Funds held for clients 2,303,159 2,327,366
Total current assets 2,846,321 2,813,426
Property and equipment, net 531,884 498,197
Intangible assets, net 48,159 50,112
Goodwill 51,889 51,889
Long-term deferred contract costs 727,956 680,272
Other assets 106,535 103,643
Total assets 4,312,744 4,197,539
Current liabilities:    
Accounts payable 14,997 13,875
Income tax payable 10,281  
Accrued commissions and bonuses 22,227 30,492
Accrued payroll and vacation 60,533 56,086
Deferred revenue 31,432 22,812
Accrued expenses and other current liabilities 84,215 83,302
Current liabilities before client funds obligation 223,685 206,567
Client funds obligation 2,303,198 2,328,076
Total current liabilities 2,526,883 2,534,643
Deferred income tax liabilities, net 136,213 143,750
Long-term deferred revenue 110,928 107,657
Other long-term liabilities 112,189 108,453
Total long-term liabilities 359,330 359,860
Total liabilities 2,886,213 2,894,503
Commitments and contingencies (Note 12)
Stockholders' equity:    
Common stock, $0.01 par value (100,000 shares authorized, 62,887 and 62,675 shares issued at June 30, 2024 and December 31, 2023, respectively; 56,151 and 56,528 shares outstanding at June 30, 2024 and December 31, 2023, respectively) 629 627
Additional paid-in capital 667,197 724,493
Retained earnings 1,743,608 1,469,981
Accumulated other comprehensive earnings (loss) (305) (1,039)
Treasury stock, at cost (6,736 and 6,147 shares at June 30, 2024 and December 31, 2023, respectively) (984,598) (891,026)
Total stockholders’ equity 1,426,531 1,303,036
Total liabilities and stockholders’ equity $ 4,312,744 $ 4,197,539