Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Employee Deferred Compensation Plans

The following table presents the Company’s (income) loss from investments held in employee deferred compensation trusts (in thousands):


	Year Ended December 31,
	2024		2023		2022
Dividend income	$	(22,423)	$	(15,049)	$	(12,637)
Realized and unrealized (gains) losses	(71,656)		(72,971)		98,776
(Income) loss from investments held in employee deferred compensation trusts (which is completely offset by related costs and expenses)	$	(94,079)	$	(88,020)	$	86,139

The following table presents the Company’s increase (decrease) in employee deferred compensation costs and expense related to changes in the fair value of trust assets for its nonqualified employee deferred compensation plans (in thousands):


	Year Ended December 31,
	2024		2023		2022
Increase (decrease) in employee deferred compensation costs and expense related to changes in the fair value of trust assets	$	94,079	$	88,020	$	(86,139)

Schedule of Allocation of Plan Assets

The following table summarizes the Company’s financial instruments by significant category and fair value measurement on a recurring basis (in thousands):


			Fair Value Measurements Using
	Balance at December 31, 2024		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)

Cash equivalents
Money market funds	$	293,990	$	293,990	—	—

Employee deferred compensation trust assets
Money market funds	$	125,112	$	125,112	—	—
Mutual funds - bonds	38,705		38,705		—	—
Mutual funds - stocks	401,751		401,751		—	—
Mutual funds - blend	107,672		107,672		—	—
Total employee deferred compensation trust assets	$	673,240	$	673,240	—	—

			Fair Value Measurements Using
	Balance at December 31, 2023		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)

Cash equivalents
Money market funds	$	351,230	$	351,230	—	—

Employee deferred compensation trust assets
Money market funds	$	124,710	$	124,710	—	—
Mutual funds - bonds	35,373		35,373		—	—
Mutual funds - stocks	316,764		316,764		—	—
Mutual funds - blend	94,199		94,199		—	—
Total employee deferred compensation trust assets	$	571,046	$	571,046	—	—

Schedule of Accounts Receivable, Allowance for Credit Loss

The following table sets forth the activity in the allowance for credit losses from December 31, 2022, through December 31, 2024 (in thousands):


	Allowance for Credit Losses


Balance as of December 31, 2022	$	22,561
Charges to expense	8,752
Deductions	(6,486)
Other, including translation adjustments	362
Balance as of December 31, 2023	$	25,189
Charges to expense	5,286
Deductions	(8,009)
Other, including translation adjustments	(505)
Balance as of December 31, 2024	$	21,961

Schedule of Depreciation Expense Computed Using Straight-Line Method over Useful Lives

Depreciation is computed using the straight-line method over the following useful lives:


Computer hardware			2 to 3 years
Computer software			2 to 5 years
Furniture and equipment			3 to 5 years
Leasehold improvements			Term of lease

Property and equipment consisted of the following (in thousands):


	December 31,
	2024		2023
Computer hardware	$	131,059	$	150,165
Computer software	224,609		220,004
Furniture and equipment	96,288		99,547
Leasehold improvements	200,565		187,806

Property and equipment, cost	652,521		657,522
Accumulated depreciation	(532,957)		(548,713)
Property and equipment, net	$	119,564	$	108,809