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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income $ 954,327 $ 839,497 $ 704,216
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 92,010 75,571 65,181
Stock based compensation 121,416 80,071 43,384
Provision for losses on accounts and other receivables 131,096 37,919 158,549
Amortization of deferred financing costs and discounts 7,748 6,831 6,486
Amortization of intangible assets and premium on receivables 230,272 208,625 189,620
Deferred income taxes (33,174) 11,026 15,668
Loss on extinguishment of debt 1,934 16,194 0
Investment loss (gain), net 1,382 (9) (30,008)
Other non-cash operating expense (income), net 282 (784) (1,985)
Changes in operating assets and liabilities (net of acquisitions):      
Accounts receivable and other receivables (598,674) (731,137) 264,140
Prepaid expenses and other current assets (17,543) 141,058 119,531
Derivative assets and liabilities, net (11,260) (15,360) (58,347)
Other assets (41,068) 47,055 79,405
Accounts payable, accrued expenses and customer deposits (83,951) 480,506 (83,251)
Net cash provided by operating activities 754,797 1,197,063 1,472,589
Investing activities      
Acquisitions, net of cash acquired (216,917) (602,120) (80,787)
Purchases of property and equipment (151,428) (111,530) (78,425)
Proceeds from disposal of investment 0 0 52,963
Other 0 (2,281) 0
Net cash used in investing activities (368,345) (715,931) (106,249)
Financing activities      
Proceeds from issuance of common stock 49,404 48,781 136,797
Repurchase of common stock (1,405,200) (1,355,722) (849,910)
Borrowings (payments) on securitization facility, net 169,000 418,000 (270,973)
Deferred financing costs paid and debt discount (10,355) (38,920) (2,637)
Proceeds from issuance of notes payable 3,000,000 1,900,000 0
Principal payments on notes payable (2,824,000) (507,500) (175,285)
Borrowings from revolver 7,236,000 1,910,000 1,243,500
Payments on revolver (6,526,000) (1,978,851) (1,496,907)
Borrowings (payments) on swing line of credit, net 194 (51,049) (1,042)
Other (271) (811) (344)
Net cash (used in) provided by financing activities (311,228) 343,928 (1,416,801)
Effect of foreign currency exchange rates on cash (36,739) (50,984) (148,157)
Net increase (decrease) in cash and cash equivalents and restricted cash 38,485 774,076 (198,618)
Cash and cash equivalents and restricted cash, beginning of year 2,250,695 1,476,619 1,675,237
Cash and cash equivalents and restricted cash, end of year 2,289,180 2,250,695 1,476,619
Supplemental cash flow information      
Cash paid for interest 229,641 132,504 126,460
Cash paid for income taxes $ 358,231 $ 229,721 $ 165,315