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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities    
Net income $ 40,417 $ 22,321
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 20,706 20,840
Amortization of right of use asset 2,221 2,490
Stock-based compensation expense 15,856 10,900
Change in long-term retirement benefit obligations (5,758) (6,954)
Other – net (1,026) 83
Changes in operating assets and liabilities:    
Accounts receivable – net 64,832 51,556
Other assets 2,360 (2,295)
Accounts payable, accrued payroll and other liabilities (93,067) (57,103)
Unexpired subscriptions 5,438 7,645
Other noncurrent assets and liabilities 1,100 1,247
Net cash provided by operating activities 53,079 50,730
Cash flows from investing activities    
Purchases of marketable securities (112,892) 0
Maturities of marketable securities 52,374 28,160
Capital expenditures (6,424) (5,985)
Other – net 551 0
Net cash (used in)/provided by investing activities (66,391) 22,175
Long-term obligations:    
Dividends paid (18,621) (15,069)
Payment of contingent consideration 0 (1,724)
Capital shares:    
Repurchases (32,458) (30,720)
Share-based compensation tax withholding (17,605) (11,017)
Net cash used in financing activities (68,684) (58,530)
Net (decrease)/increase in cash, cash equivalents and restricted cash (81,996) 14,375
Effect of exchange rate changes on cash (480) (262)
Cash, cash equivalents and restricted cash at the beginning of the period 303,172 235,173
Cash, cash equivalents and restricted cash at the end of the period $ 220,696 $ 249,286