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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Operating activities:    
Net income $ 855,142 $ 673,835
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 151,093 141,780
Stock-based compensation expense 124,590 104,323
Deferred taxes (5,800) (49,550)
Gain from sale of divested operation 0 (135,410)
Loss on impairment of lease related assets 2,950 19,062
Reduction in the carrying amount of operating lease right-of-use assets 48,431 52,741
Amortization and write-off of deferred financing fees 3,565 3,506
Gain on de-designated swaps (2,152) (7,650)
Changes in assets and liabilities, net of acquisitions and divestitures:    
Fees receivable, net 286,634 418,033
Deferred commissions 75,783 77,510
Prepaid expenses and other current assets (46,954) (39,204)
Other assets (35,565) (28,752)
Deferred revenues (83,961) (51,412)
Accounts payable and accrued and other liabilities (224,189) (247,405)
Cash provided by operating activities 1,149,567 931,407
Investing activities:    
Additions to property, equipment and leasehold improvements (77,796) (75,145)
Acquisition of business (2,000) (3,800)
Proceeds from sale of divested operation 0 156,057
Cash (used in) provided by investing activities (79,796) 77,112
Financing activities:    
Proceeds from employee stock purchase plan 20,792 19,115
Payments of deferred financing fees (2,972) 0
Proceeds from revolving credit facility 274,400 0
Payments on long-term debt (274,400) (5,400)
Purchases of treasury stock (633,377) (447,739)
Cash used in financing activities (615,557) (434,024)
Net increase in cash and cash equivalents and restricted cash 454,214 574,495
Effects of exchange rates on cash and cash equivalents (5,521) (23,139)
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 $ 1,768,292 $ 1,249,955