XML 32 R6.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Operating activities:    
Net income $ 121,383 $ 107,080
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 25,464 21,407
Stock-based compensation expense 27,049 [1] 28,021 [1]
Excess tax benefits from stock-based compensation (18,412) (20,366)
Deferred taxes 4,989 (3,268)
Amortization and write-off of debt issue costs 2,107 1,512
Changes in assets and liabilities, net of acquisition:    
Fees receivable, net 69,732 54,157
Deferred commissions 10,055 13,202
Prepaid expenses and other current assets (20,840) (18,803)
Other assets (3,064) 2,429
Deferred revenues 64,662 60,681
Accounts payable, accrued, and other liabilities (41,056) (37,301)
Cash provided by operating activities 242,069 208,751
Investing activities:    
Additions to property, equipment and leasehold improvements (27,772) (30,800)
Acquisition (net of cash acquired) 0 (10,336)
Cash used in investing activities (27,772) (41,136)
Financing activities:    
Proceeds from stock issued under stock plans 4,539 10,560
Proceeds from debt issuance 203,750 22,500
Payments for debt issuance costs (3,553) 0
Payments on debt (203,750) (22,500)
Purchases of treasury stock (157,251) (89,300)
Excess tax benefits from stock-based compensation 18,412 20,366
Cash used by financing activities (137,853) (58,374)
Net increase in cash and cash equivalents 76,444 109,241
Effects of exchange rates on cash and cash equivalents (1,775) 3,411
Cash and cash equivalents, beginning of period 299,852 142,739
Cash and cash equivalents, end of period $ 374,521 $ 255,391
[1] Includes charges of $1.8 million and $1.5 million for the three months ended September 30, 2013 and 2012, respectively, for awards to retirement-eligible employees since these awards vest on an accelerated basis. The nine months ended September 30, 2013 and 2012 include retirement-eligible charges of $10.6 million and $4.7 million, respectively.