Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Calculation Of Basic And Diluted Earnings Per Share

The calculations of basic and diluted earnings per share for the three and nine months ended September 30, 2020 and 2019 are:


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Net income	$	111,096	$	132,168	$	321,404	$	372,689
Shares used to compute basic earnings per common share	145,812,000		150,855,000		147,586,000		152,009,000
Dilutive effect of stock options	2,095,000		3,372,000		2,372,000		3,302,000
Shares used to compute diluted earnings per common share	147,907,000		154,227,000		149,958,000		155,311,000
Basic earnings per common share	$	0.76	$	0.88	$	2.18	$	2.45
Diluted earnings per common share	$	0.75	$	0.86	$	2.14	$	2.40

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 nine months ended September 30:


	2020		2019
Net income	$	321,404	$	372,689
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	23,058		22,162
Amortization	39,417		38,407
Equity in earnings of unconsolidated affiliate	(86,488)		(112,758)
Distributions received from unconsolidated affiliate	119,821		123,663
Stock-based compensation	20,458		15,555
Provision for losses on receivables	109		593
Deferred income tax expense	(7,731)		(1,405)
Net loss (gain) from investments	1,310		(2,121)

Change in other long-term liabilities	(4,442)		2,077
Change in other assets	(965)		(56)
Contract costs capitalized, net of amortization	(2,842)		(4,499)
Other	(1,053)		(721)
Change in current assets and liabilities
(Increase) decrease in
Receivables from investment products	2,521		(2,271)
Receivables	(37,921)		(34,589)
Other current assets	(6,186)		729
(Decrease) increase in
Accounts payable	8,615		(2,208)
Accrued liabilities	8,809		(34,087)
Deferred revenue	(1,370)		375
Total adjustments	75,120		8,846
Net cash provided by operating activities	$	396,524	$	381,535