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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income $ 493,826 $ 377,440
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 93,244 96,013
Stock-based compensation expense 77,281 56,575
Deferred taxes (16,153) 3,256
Gain from sale of divested operation (135,410) 0
Loss on impairment of lease related assets 18,727 35,501
Reduction in the carrying amount of operating lease right-of-use assets 35,357 35,366
Amortization and write-off of deferred financing fees 2,330 2,273
Gain on de-designated swaps (5,101) (40,547)
Changes in assets and liabilities, net of acquisitions and divestitures:    
Fees receivable, net 294,569 159,098
Deferred commissions 54,053 60,156
Prepaid expenses and other current assets (18,667) (20,248)
Other assets (30,738) 11,317
Deferred revenues 36,704 212,083
Accounts payable and accrued and other liabilities (299,561) (404,891)
Cash provided by operating activities 600,461 583,392
Investing activities:    
Additions to property, equipment and leasehold improvements (46,694) (38,385)
Proceeds from sale of divested operation 156,057 0
Cash provided by (used in) investing activities 109,363 (38,385)
Financing activities:    
Proceeds from employee stock purchase plan 13,240 11,995
Payments on borrowings (3,600) (2,663)
Purchases of treasury stock (238,372) (929,880)
Cash used in financing activities (228,732) (920,548)
Net increase (decrease) in cash and cash equivalents and restricted cash 481,092 (375,541)
Effects of exchange rates on cash and cash equivalents (6,263) (20,479)
Cash and cash equivalents and restricted cash, beginning of period 698,599 760,602
Cash and cash equivalents and restricted cash, end of period $ 1,173,428 $ 364,582