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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Operating activities:      
Net income $ 266,745 $ 233,290 $ 122,456
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 218,984 211,779 255,601
Stock-based compensation expense 62,540 69,008 66,172
Deferred taxes (53,190) (55,787) 1,524
Loss (gain) from divested operations 0 2,075 (45,447)
Loss on extinguishment of debt 44,814 0 0
Gain on sale of an equity security 0 (9,120) 0
Reduction in the carrying amount of operating lease right-of-use assets 81,851 86,466 0
Amortization and write-off of deferred financing fees 8,424 6,497 13,815
Amortization of deferred swap losses from de-designation 10,320 0 0
Gain on de-designated swaps (2,157) 0 0
Changes in assets and liabilities, net of acquisitions and divestitures:      
Fees receivable, net 99,409 (66,729) (115,003)
Deferred commissions 8,656 (30,315) (31,247)
Prepaid expenses and other current assets 37,895 18,985 (50,551)
Other assets (8,950) (27,303) 11,456
Deferred revenues 15,998 181,203 187,147
Accounts payable and accrued and other liabilities 111,939 (54,613) 55,235
Cash provided by operating activities 903,278 565,436 471,158
Investing activities:      
Additions to property, equipment and leasehold improvements (83,888) (149,016) (126,873)
Acquisitions - cash paid (net of cash acquired) 0 (25,989) (15,855)
Divestitures - cash received (net of cash transferred) 0 0 526,779
Proceeds from the sale of an equity security 0 14,120 0
Cash (used in) provided by investing activities (83,888) (160,885) 384,051
Financing activities:      
Proceeds from employee stock purchase plan 18,085 17,629 14,689
Proceeds from borrowings 2,000,000 5,000 0
Early redemption premium payment (30,752) 0 0
Payments for deferred financing fees (25,786) 0 0
Proceeds from revolving credit facility 332,000 309,000 248,000
Payments on revolving credit facility (475,000) (316,000) (688,000)
Payments on borrowings (2,058,469) (102,579) (570,972)
Purchases of treasury stock (176,302) (199,042) (260,832)
Cash used in financing activities (416,224) (285,992) (1,257,115)
Net increase (decrease) in cash and cash equivalents and restricted cash 403,166 118,559 (401,906)
Effects of exchange rates on cash and cash equivalents and restricted cash 28,581 3,614 (6,489)
Cash and cash equivalents and restricted cash, beginning of year 280,836 158,663 567,058
Cash and cash equivalents and restricted cash, end of year 712,583 280,836 158,663
Cash paid during the year for:      
Interest 112,249 102,298 117,500
Income taxes, net of refunds received $ 33,921 $ 119,156 $ 95,800