XML 43 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Operating activities:    
Net income $ 107,080 $ 91,878
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization of intangibles 21,407 24,931
Stock-based compensation expense 28,021 [1] 24,750 [1]
Excess tax benefits from stock-based compensation (20,366) (22,458)
Deferred taxes (3,268) 3,812
Amortization of debt issue costs 1,512 1,733
Changes in assets and liabilities, net of acquisition:    
Fees receivable, net 54,157 16,023
Deferred commissions 13,202 11,354
Prepaid expenses and other current assets (18,803) (6,241)
Other assets 2,429 2,051
Deferred revenues 60,681 74,021
Accounts payable, accrued, and other liabilities (37,301) (45,389)
Cash provided by operating activities 208,751 176,465
Investing activities:    
Additions to property, equipment and leasehold improvements (30,800) (23,720)
Acquisition (net of cash acquired) (10,336)  
Cash used in investing activities (41,136) (23,720)
Financing activities:    
Proceeds from stock issued under stock plans 10,560 17,771
Proceeds from debt issuance 22,500 5,000
Payments on debt (22,500) (15,156)
Purchases of treasury stock (89,300) (141,214)
Excess tax benefits from stock-based compensation 20,366 22,458
Cash used by financing activities (58,374) (111,141)
Net increase in cash and cash equivalents 109,241 41,604
Effects of exchange rates on cash and cash equivalents 3,411 (4,882)
Cash and cash equivalents, beginning of period 142,739 120,181
Cash and cash equivalents, end of period $ 255,391 $ 156,903
[1] The three months ended September 30, 2012 and 2011 included charges of $1.5 million and $0.2 million, respectively, related to awards to retirement-eligible employees, since awards granted to retirement-eligible employees vest on an accelerated basis. The nine months ended September 30, 2012 and 2011 included charges of $4.7 million and $3.0 million, respectively, for retirement-eligible employees.