Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income	$ 315,157	$ 183,812
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	68,082	54,010
Accretion of discount on available-for-sale securities	(108)	(253)
Non-cash marketing expense	798	839
Loss (Gain) on disposition of property and equipment	12	(21)
Amortization of debt issuance costs	552	620
Stock-based compensation expense	(69,670)	63,185
Deferred income taxes, net	(7,798)	1,706
Other	(161)	111
Changes in operating assets and liabilities:
Accounts receivable	(3,592)	6,650
Prepaid expenses	(8,345)	(10,597)
Inventory	431	336
Other assets	(3,445)	(9,057)
Deferred contract costs	(55,198)	(62,489)
Accounts payable	91	(10,277)
Income taxes, net	28,672	3,645
Accrued commissions and bonuses	(8,265)	(6,560)
Accrued payroll and vacation	4,197	4,954
Deferred revenue	11,891	6,817
Accrued expenses and other current liabilities	7,431	24,560
Net cash provided by operating activities	280,732	251,991
Cash flows from investing activities
Purchases of investments from funds held for clients		(25,000)
Proceeds from investments from funds held for clients	165,000	25,000
Purchases of property and equipment	(93,335)	(83,422)
Proceeds from sale of property and equipment	13	44
Net cash provided by (used in) investing activities	71,678	(83,378)
Cash flows from financing activities
Repurchases of common stock	(80,761)
Withholding taxes paid related to net share settlements	(12,410)	(11,067)
Dividends paid	(42,400)	(21,731)
Net change in client funds obligation	(24,878)	(201,552)
Net cash (used in) financing activities	(160,449)	(234,350)
Increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents	191,961	(65,737)
Cash, cash equivalents, restricted cash and restricted cash equivalents
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period	2,422,760	2,409,095
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	2,614,721	2,343,358
Cash and cash equivalents	346,456	536,545
Restricted cash included in funds held for clients	2,268,265	1,806,813
Total cash, cash equivalents, restricted cash and restricted cash equivalents, end of period	2,614,721	2,343,358
Non-cash investing and financing activities:
Purchases of property and equipment, accrued but not paid	8,507	11,968
Stock-based compensation for capitalized software	8,797	7,752
Right of use assets obtained in exchange for operating lease liabilities	$ 11,933	$ 16,341