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CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 8,850 $ 13,826
Restricted cash 40,777 38,661
Accounts receivable, net 735,426 534,858
Other current assets 76,847 72,528
Current assets before funds held for clients 861,900 659,873
Funds held for clients 140,932 175,853
Total current assets 1,002,832 835,726
Non-current assets:    
Property and equipment, net 92,092 88,163
Goodwill and other intangible assets, net 2,906,525 2,945,470
Assets of deferred compensation plan 162,066 167,170
Right-of-use assets, net 382,051 393,512
Other non-current assets 39,932 40,842
Total non-current assets 3,582,666 3,635,157
Total assets 4,585,498 4,470,883
Current liabilities:    
Accounts payable 102,646 90,646
Income taxes payable 42,388 0
Accrued personnel costs 87,874 172,759
Contingent purchase price liabilities 46,731 61,164
Operating lease liabilities 61,673 60,549
Short-term debt [1] 66,226 66,177
Other current liabilities 111,658 78,579
Current liabilities before client fund obligations 519,196 529,874
Client fund obligations 140,867 175,928
Total current liabilities 660,063 705,802
Non-current liabilities:    
Long-term debt [1] 1,462,504 1,333,755
Income taxes payable 2,538 2,193
Deferred income taxes, net 1,022 10,880
Deferred compensation plan obligations 162,066 167,170
Contingent purchase price liabilities 19,232 35,803
Lease liabilities 360,140 372,586
Other non-current liabilities 3,232 62,711
Total non-current liabilities 2,010,734 1,985,098
Total liabilities 2,670,797 2,690,900
STOCKHOLDERS' EQUITY    
Common stock 1,420 1,380
Additional paid in capital 1,812,729 1,791,863
Retained earnings 1,018,895 896,122
Treasury stock (918,327) (910,601)
Accumulated other comprehensive (loss) income (16) 1,219
Total stockholders’ equity 1,914,701 1,779,983
Total liabilities and stockholders’ equity $ 4,585,498 $ 4,470,883
[1] Reflects the net debt for the Term Loan and Revolver with the associated debt issuance costs in short-term and long-term liabilities. See Note 5. Debt and Financing Arrangements for further discussion of the short-term and long-term debt.