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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 17,350 $ 63,701
Adjustments to reconcile net income to net cash used in operating activities:    
Allowance for credit losses 1,232 183
Depreciation 13,006 13,004
Amortization of cloud computing implementation costs 8,308 9,183
Amortization of intangible assets 304 304
Realized and unrealized (gains) losses from investments held in employee deferred compensation trusts 22,111 (41,305)
Stock-based compensation 16,705 16,777
Deferred income taxes 3,967 6,602
Changes in operating assets and liabilities, net of effects of acquisitions:    
Accounts receivable (8,305) (7,042)
Capitalized cloud computing implementation costs (6,160) (8,391)
Accounts payable and accrued expenses (23,244) (5,756)
Accrued payroll and benefit costs (48,462) (83,490)
Employee deferred compensation plan obligations (29,948) 34,837
Income taxes payable 3,784 10,044
Other assets and liabilities, net (29,995) (24,570)
Net cash flows used in operating activities (59,347) (15,919)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (12,394) (11,780)
Investments in employee deferred compensation trusts (42,420) (32,643)
Proceeds from employee deferred compensation trust redemptions 22,106 22,389
Net cash flows used in investing activities (32,708) (22,034)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repurchases of common stock (49,935) (85,887)
Dividends paid (61,290) (57,502)
Net cash flows used in financing activities (111,225) (143,389)
Effect of exchange rate fluctuations 8,170 (9,459)
Change in cash and cash equivalents (195,110) (190,801)
Cash and cash equivalents at beginning of period 537,583 731,740
Cash and cash equivalents at end of period 342,473 540,939
Non-cash items:    
Fund exchanges within employee deferred compensation trusts 53,230 29,073
Contingent consideration related to acquisition $ 0 $ 350