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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:      
Net income $ 882,466 $ 807,799 $ 793,560
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 191,103 191,946 212,405
Stock-based compensation expense 129,841 90,566 98,570
Deferred taxes (64,173) (30,702) (41,567)
Gain from sale of divested operation (135,410) 0 0
Loss on impairment of lease related assets, net 20,368 53,970 49,537
Reduction in the carrying amount of operating lease right-of-use assets 70,207 70,086 75,125
Amortization and write-off of deferred financing fees 4,689 4,574 4,162
Gain on de-designated swaps (3,925) (52,308) (20,204)
Changes in assets and liabilities, net of acquisitions and divestitures:      
Fees receivable, net (24,662) (240,696) (145,346)
Deferred commissions (13,716) 5,574 (124,874)
Prepaid expenses and other current assets (7,893) (3,039) (15,913)
Other assets (34,528) 8,440 (18,287)
Deferred revenues 169,917 297,124 324,059
Accounts payable and accrued and other liabilities (28,547) (101,912) 121,243
Cash provided by operating activities 1,155,737 1,101,422 1,312,470
Investing activities:      
Additions to property, equipment and leasehold improvements (103,124) (108,050) (59,834)
Acquisitions - cash paid (net of cash acquired) (3,800) (9,508) (22,939)
Proceeds from sale of divested operation 161,081 0 0
Other 0 0 2,306
Cash provided by (used in) investing activities 54,157 (117,558) (80,467)
Financing activities:      
Proceeds from employee stock purchase plan 25,107 22,231 18,173
Proceeds from borrowings 0 0 600,000
Payments for deferred financing fees 0 0 (7,320)
Payments on revolving credit facility 0 0 (5,000)
Payments on borrowings (7,800) (5,931) (107,915)
Purchases of treasury stock (606,188) (1,043,742) (1,655,547)
Cash used in financing activities (588,881) (1,027,442) (1,157,609)
Net increase (decrease) in cash and cash equivalents and restricted cash 621,013 (43,578) 74,394
Effects of exchange rates on cash and cash equivalents and restricted cash (13) (18,425) (26,375)
Cash and cash equivalents and restricted cash, beginning of year 698,599 760,602 712,583
Cash and cash equivalents and restricted cash, end of year 1,319,599 698,599 760,602
Cash paid during the year for:      
Interest 119,038 112,825 101,885
Income taxes, net of refunds received $ 306,682 $ 174,802 $ 253,379