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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 132,990 $ 251,598 $ 411,146
Adjustments to reconcile net income to net cash provided by operating activities:      
Allowance for credit losses 3,151 5,286 8,752
Depreciation 50,031 52,053 51,364
Amortization of cloud computing implementation costs 29,722 36,045 44,720
Amortization of intangible assets 1,873 1,217 2,883
Realized and unrealized gains from investments held in employee deferred compensation trusts (78,871) (71,656) (72,971)
Stock-based compensation 59,416 63,448 61,139
Deferred income taxes 22,847 (17,936) (16,568)
Changes in operating assets and liabilities, net of effects of acquisitions:      
Accounts receivable 45,797 66,954 156,269
Capitalized cloud computing implementation costs (28,522) (29,210) (34,895)
Accounts payable and accrued expenses (15,220) 16,047 (14,698)
Accrued payroll and benefit cost (1,829) (32,963) (61,725)
Employee deferred compensation plan obligations 93,227 105,490 98,802
Income taxes payable (1,394) (20,960) 10,721
Other assets and liabilities, net 6,747 (14,944) (8,058)
Net cash flows provided by operating activities 319,965 410,469 636,881
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (53,155) (56,318) (45,874)
Investments in employee deferred compensation trusts (80,078) (69,237) (102,969)
Proceeds from employee deferred compensation trust redemptions 58,251 38,700 37,628
Payments for acquisitions, net of cash acquired (10,722) (264) (1,035)
Net cash flows used in investing activities (85,704) (87,119) (112,250)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repurchases of common stock (92,093) (276,032) (254,625)
Dividends paid (238,220) (220,409) (205,910)
Net cash flows used in financing activities (330,313) (496,441) (460,535)
Effect of exchange rate fluctuations 22,904 (21,066) 9,018
Change in cash and cash equivalents (73,148) (194,157) 73,114
Cash and cash equivalents at beginning of period 537,583 731,740 658,626
Cash and cash equivalents at end of period 464,435 537,583 731,740
Cash paid during the year for:      
Interest 225 272 315
Income taxes, net of refunds 41,633 143,615 168,488
Non-cash items:      
Repurchases of common stock awaiting settlement 0 0 4,394
Fund exchanges within employee deferred compensation trusts 173,845 130,997 114,821
Contingent consideration related to acquisition $ 2,685 $ 0 $ 350