XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net income $ 210,545 $ 295,783
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 49,307 46,631
Stock-based compensation expense 50,500 45,048
Deferred taxes (17,823) (7,866)
Gain from sale of divested operation 0 (139,316)
Loss on impairment of lease related assets 527 8,720
Reduction in the carrying amount of operating lease right-of-use assets 16,028 17,644
Amortization and write-off of deferred financing fees 1,537 1,161
(Gain) loss on de-designated swaps (4,462) 1,393
Changes in assets and liabilities, net of acquisitions and divestitures:    
Fees receivable, net 18,228 36,177
Deferred commissions 26,413 19,635
Prepaid expenses and other current assets (47,509) (18,370)
Other assets (24,309) (14,799)
Deferred revenues 173,542 155,153
Accounts payable and accrued and other liabilities (263,688) (282,315)
Cash provided by operating activities 188,836 164,679
Investing activities:    
Additions to property, equipment and leasehold improvements (22,660) (21,122)
Acquisition of business (2,000) 0
Proceeds from sale of divested operation 0 158,733
Cash (used in) provided by investing activities (24,660) 137,611
Financing activities:    
Proceeds from employee stock purchase plan 8,047 7,358
Payments of deferred financing fees (2,604) 0
Proceeds from revolving credit facility 274,400 0
Payments on long-term debt (274,400) (1,800)
Purchases of treasury stock (225,124) (106,850)
Cash used in financing activities (219,681) (101,292)
Net (decrease) increase in cash and cash equivalents and restricted cash (55,505) 200,998
Effects of exchange rates on cash and cash equivalents (27,693) (5,485)
Cash and cash equivalents and restricted cash, beginning of period 1,319,599 698,599
Cash and cash equivalents and restricted cash, end of period $ 1,236,401 $ 894,112