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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating activities:    
Net income $ 210,939 $ 210,545
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 50,760 49,307
Stock-based compensation expense 50,168 50,500
Deferred taxes (29,710) (17,823)
Loss on impairment of lease related assets 0 527
Reduction in the carrying amount of operating lease right-of-use assets 17,736 16,028
Amortization and write-off of deferred financing fees 1,034 1,537
Gain on de-designated swaps (165) (4,462)
Changes in assets and liabilities, net of acquisitions and divestitures:    
Fees receivable, net 211,612 18,228
Deferred commissions 41,131 26,413
Prepaid expenses and other current assets (5,338) (47,509)
Other assets (15,568) (24,309)
Deferred revenues 131,001 173,542
Accounts payable and accrued and other liabilities (350,088) (263,688)
Cash provided by operating activities 313,512 188,836
Investing activities:    
Additions to property, equipment and leasehold improvements (25,569) (22,660)
Acquisition of business 0 (2,000)
Cash used in investing activities (25,569) (24,660)
Financing activities:    
Proceeds from employee stock purchase plan 9,736 8,047
Payments of deferred financing fees 0 (2,604)
Proceeds from revolving credit facility 0 274,400
Payments on long-term debt 0 (274,400)
Purchases of treasury stock (162,672) (225,124)
Cash used in financing activities (152,936) (219,681)
Net increase (decrease) in cash and cash equivalents and restricted cash 135,007 (55,505)
Effects of exchange rates on cash and cash equivalents 22,894 (27,693)
Cash and cash equivalents and restricted cash, beginning of period 1,933,147 1,319,599
Cash and cash equivalents, end of period $ 2,091,048 $ 1,236,401