XML 31 R23.htm IDEA: XBRL DOCUMENT v3.20.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2020
Accounting Policies [Abstract]  
Calculation Of Basic And Diluted Earnings Per Share
The calculations of basic and diluted earnings per share for the three months ended March 31, 2020 and 2019 are:
 
Three Months Ended March 31,
 
2020
 
2019
Net income
$
109,242

 
$
113,981

Shares used to compute basic earnings per common share
149,468,000

 
153,310,000

Dilutive effect of stock options
2,900,000

 
3,231,000

Shares used to compute diluted earnings per common share
152,368,000

 
156,541,000

Basic earnings per common share
$
0.73

 
$
0.74

Diluted earnings per common share
$
0.72

 
$
0.73


Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities
The following table provides the details of the adjustments to reconcile net income to net cash provided by operating activities for the three months ended March 31:
 
2020
 
2019
Net income
$
109,242

 
$
113,981

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation
7,473

 
7,331

Amortization
13,077

 
12,679

Equity in earnings of unconsolidated affiliate
(29,907
)
 
(37,317
)
Distributions received from unconsolidated affiliate
52,036

 
33,237

Stock-based compensation
6,929

 
5,038

Provision for losses on receivables
80

 
(85
)
Deferred income tax expense
(1,879
)
 
(984
)
Net loss (gain) from investments
3,989

 
(1,279
)
Change in other long-term liabilities
360

 
277

Change in other assets
(4,658
)
 
1,334

Contract costs capitalized, net of amortization
(1,769
)
 
(138
)
Other
(1,612
)
 
(63
)
Change in current assets and liabilities
 
 
 
(Increase) decrease in
 
 
 
Receivables from investment products
2,553

 
(2,693
)
Receivables
(17,852
)
 
(18,304
)
Other current assets
(9,728
)
 
574

(Decrease) increase in
 
 
 
Accounts payable
8,663

 
(5,678
)
Accrued liabilities
(36,818
)
 
(47,836
)
Deferred revenue
(1,207
)
 
(175
)
Total adjustments
(10,270
)
 
(54,082
)
Net cash provided by operating activities
$
98,972

 
$
59,899