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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities:      
Net income $ 729,231 $ 1,253,715 $ 882,466
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 200,309 202,315 191,103
Stock-based compensation expense 155,877 154,784 129,841
Deferred taxes 828 (162,081) (64,173)
Goodwill impairment 150,000 0 0
Gain from sale of divested operation 0 0 (135,410)
Loss on impairment of lease related assets, net 4,766 10,909 20,368
Reduction in the carrying amount of operating lease right-of-use assets 64,196 65,742 70,207
Amortization and write-off of deferred financing fees and unamortized discounts 4,288 4,591 4,689
Gain on de-designated swaps (489) (3,870) (3,925)
Changes in assets and liabilities, net of acquisitions and divestitures:      
Fees receivable, net 38,027 (137,768) (24,662)
Deferred commissions 25,250 (41,555) (13,716)
Prepaid expenses and other current assets 1,760 (28,933) (7,893)
Other assets (30,939) (43,503) (34,528)
Deferred revenues (41,944) 181,180 169,917
Accounts payable and accrued and other liabilities (10,795) 29,396 (28,547)
Cash provided by operating activities 1,290,365 1,484,922 1,155,737
Investing activities:      
Additions to property, equipment and leasehold improvements (115,142) (101,737) (103,124)
Acquisitions - cash paid (net of cash acquired) 0 (2,000) (3,800)
Proceeds from sale of divested operation 0 0 161,081
Cash (used in) provided by investing activities (115,142) (103,737) 54,157
Financing activities:      
Proceeds from employee stock purchase plan 32,450 28,187 25,107
Proceeds from issuance of long-term debt, net of discounts 799,859 0 0
Payments for deferred financing fees (6,480) (2,972) 0
Proceeds from revolving credit facility 0 274,400 0
Payments on revolving credit facility (274,400) 0 0
Payments on long-term debt 0 (274,400) (7,800)
Purchases of treasury stock (1,991,147) (735,358) (606,188)
Cash used in financing activities (1,439,718) (710,143) (588,881)
Net (decrease) increase in cash and cash equivalents and restricted cash (264,495) 671,042 621,013
Effects of exchange rates on cash and cash equivalents and restricted cash 53,869 (57,494) (13)
Cash and cash equivalents and restricted cash, beginning of year 1,933,147 1,319,599 698,599
Cash and cash equivalents and restricted cash, end of year 1,722,521 1,933,147 1,319,599
Cash paid during the year for:      
Interest 99,503 100,085 119,038
Income taxes, net of refunds received $ 209,557 $ 312,895 $ 306,682