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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 673,835 $ 550,985
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 141,780 143,264
Stock-based compensation expense 104,323 77,543
Deferred taxes (49,550) 2,476
Gain from sale of divested operation (135,410) 0
Loss on impairment of lease related assets 19,062 37,546
Reduction in the carrying amount of operating lease right-of-use assets 52,741 52,686
Amortization and write-off of deferred financing fees 3,506 3,420
Gain on de-designated swaps (7,650) (51,745)
Changes in assets and liabilities, net of acquisitions and divestitures:    
Fees receivable, net 418,033 258,543
Deferred commissions 77,510 96,841
Prepaid expenses and other current assets (39,204) (19,936)
Other assets (28,752) 6,371
Deferred revenues (51,412) 92,527
Accounts payable and accrued and other liabilities (247,405) (352,208)
Cash provided by operating activities 931,407 898,313
Investing activities:    
Additions to property, equipment and leasehold improvements (75,145) (70,461)
Acquisitions - cash paid (net of cash acquired) (3,800) (4,109)
Proceeds from sale of divested operation 156,057 0
Cash provided by (used in) investing activities 77,112 (74,570)
Financing activities:    
Proceeds from employee stock purchase plan 19,115 16,980
Payments on borrowings (5,400) (3,996)
Purchases of treasury stock (447,739) (1,026,414)
Cash used in financing activities (434,024) (1,013,430)
Net increase (decrease) in cash and cash equivalents and restricted cash 574,495 (189,687)
Effects of exchange rates on cash and cash equivalents (23,139) (42,228)
Cash and cash equivalents and restricted cash, beginning of period 698,599 760,602
Cash and cash equivalents and restricted cash, end of period $ 1,249,955 $ 528,687