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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Operating activities:    
Net income $ 440,093 $ 493,826
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 99,841 93,244
Stock-based compensation expense 90,247 77,281
Deferred taxes 3,091 (16,153)
Gain from sale of divested operation 0 (135,410)
Loss on impairment of lease related assets 527 18,727
Reduction in the carrying amount of operating lease right-of-use assets 32,167 35,357
Amortization and write-off of deferred financing fees 2,548 2,330
Gain on de-designated swaps (5,038) (5,101)
Changes in assets and liabilities, net of acquisitions and divestitures:    
Fees receivable, net 172,907 294,569
Deferred commissions 55,063 54,053
Prepaid expenses and other current assets (22,525) (18,667)
Other assets (28,533) (30,738)
Deferred revenues 15,935 36,704
Accounts payable and accrued and other liabilities (297,523) (299,561)
Cash provided by operating activities 558,800 600,461
Investing activities:    
Additions to property, equipment and leasehold improvements (52,027) (46,694)
Acquisition of business (2,000) 0
Proceeds from sale of divested operation 0 156,057
Cash (used in) provided by investing activities (54,027) 109,363
Financing activities:    
Proceeds from employee stock purchase plan 14,460 13,240
Payments of deferred financing fees (2,972) 0
Proceeds from revolving credit facility 274,400 0
Payments on long-term debt (274,400) (3,600)
Purchases of treasury stock (564,717) (238,372)
Cash used in financing activities (553,229) (228,732)
Net (decrease) increase in cash and cash equivalents and restricted cash (48,456) 481,092
Effects of exchange rates on cash and cash equivalents (35,358) (6,263)
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 $ 1,235,785 $ 1,173,428