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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities:    
Net income $ 172,515 $ 164,100
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 48,349 56,264
Stock-based compensation expense 32,121 36,086
Deferred taxes (7,502) 3,883
Loss on impairment of lease related assets, net 23,878 0
Reduction in the carrying amount of operating lease right-of-use assets 17,951 18,575
Amortization and write-off of deferred financing fees 1,133 923
Gain on de-designated swaps (29,896) (15,765)
Changes in assets and liabilities:    
Fees receivable, net 30,700 54,192
Deferred commissions 18,909 (237)
Prepaid expenses and other current assets (13,596) (9,933)
Other assets (1,082) (10,081)
Deferred revenues 195,306 131,786
Accounts payable and accrued and other liabilities (321,001) (272,495)
Cash provided by operating activities 167,785 157,298
Investing activities:    
Additions to property, equipment and leasehold improvements (17,293) (12,521)
Cash used in investing activities (17,293) (12,521)
Financing activities:    
Proceeds from employee stock purchase plan 6,949 5,357
Payments on revolving credit facility 0 (5,000)
Payments on borrowings (1,331) (5,127)
Purchases of treasury stock (451,070) (398,450)
Cash used in financing activities (445,452) (403,220)
Net decrease in cash and cash equivalents and restricted cash (294,960) (258,443)
Effects of exchange rates on cash and cash equivalents (5,358) (8,145)
Cash and cash equivalents and restricted cash, beginning of period 760,602 712,583
Cash and cash equivalents and restricted cash, end of period $ 460,284 $ 445,995