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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Operating activities:    
Net income $ 124,201 $ 26,683
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 105,721 134,894
Stock-based compensation expense 44,939 45,300
Deferred taxes (49,414) (18,019)
Loss (gain) from divested operations 2,075 (25,460)
Amortization of lease right-of-use assets 42,556 0
Amortization and write-off of deferred financing fees 3,238 10,601
Changes in assets and liabilities, net of divestitures:    
Fees receivable, net 140,841 81,222
Deferred commissions 22,974 21,818
Prepaid expenses and other current assets 16,734 (82,908)
Other assets (49,524) 23,862
Deferred revenues 47,923 87,316
Accounts payable, accrued, and other liabilities (189,186) (128,562)
Cash provided by operating activities 263,078 176,747
Investing activities:    
Additions to property, equipment and leasehold improvements (59,479) (40,126)
Divestitures - cash received (net of cash transferred) 0 406,542
Other, net (2,295) 0
Cash (used in) provided by investing activities (61,774) 366,416
Financing activities:    
Proceeds from employee stock purchase plan 9,077 7,627
Proceeds from borrowings 5,000 0
Payments on borrowings (109,647) (858,609)
Purchases of treasury stock (46,558) (96,271)
Cash (used in) financing activities (142,128) (947,253)
Net increase (decrease) in cash and cash equivalents and restricted cash 59,176 (404,090)
Effects of exchange rates on cash and cash equivalents and restricted cash 614 (3,012)
Cash and cash equivalents and restricted cash, beginning of period 158,663 567,058
Cash and cash equivalents and restricted cash, end of period $ 218,453 $ 159,956