XML 50 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
Consolidated Statements of Comprehensive Income - USD ($)
shares in Thousands, $ in Millions
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Total revenues $ 1,883.2 $ 1,693.7 $ 1,375.2
Cost of revenues      
Operating expenses 267.4 223.7 169.8
Depreciation and amortization 67.2 52.6 42.9
Total cost of revenues 334.6 276.3 212.7
Administrative expenses      
Sales and marketing 434.4 417.6 346.6
Research and development 242.6 199.0 148.3
General and administrative 158.6 288.1 239.1
Depreciation and amortization 78.7 61.4 49.8
Total administrative expenses 914.3 966.1 783.8
Total operating expenses 1,248.9 1,242.4 996.5
Operating income 634.3 451.3 378.7
Interest expense (3.4) (1.9) (2.5)
Other income (expense), net 18.1 23.0 13.4
Income before income taxes 649.0 472.4 389.6
Provision for income taxes 147.0 131.6 108.2
Net income $ 502.0 $ 340.8 $ 281.4
Earnings per share, basic $ 8.93 $ 5.91 $ 4.86
Earnings per share, diluted $ 8.92 $ 5.88 $ 4.84
Weighted average shares outstanding:      
Basic 56,208 57,707 57,928
Diluted 56,296 57,974 58,175
Comprehensive earnings:      
Net income $ 502.0 $ 340.8 $ 281.4
Unrealized net gains (losses) on available-for-sale securities 1.0 3.5 (4.8)
Tax effect (0.6) (0.8) 1.1
Other comprehensive income (loss), net of tax 0.4 2.7 (3.7)
Comprehensive earnings: 502.4 343.5 277.7
Recurring and Other [Member]      
Revenues      
Total revenues 1,758.3 1,585.7 1,342.5
Interest on Funds Held for Clients [Member]      
Revenues      
Total revenues $ 124.9 $ 108.0 $ 32.7