Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities:
Net income	$ 78,393	$ 71,867
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	17,277	16,610
Bad debt expense, net of recoveries	3,166	1,974
Adjustment to contingent earnout liability	(80)	322
Stock-based compensation expense	6,765	5,258
Excess tax benefits from share based payment arrangements	(1,674)	(1,999)
Deferred income taxes	(1,809)	3,209
Other, net	310	185
Changes in assets and liabilities, net of acquisitions and divestitures:
Accounts receivable, net	(27,913)	(54,025)
Other assets	1,823	495
Accounts payable	(18,404)	5,045
Income taxes payable	12,048	8,917
Accrued personnel costs	(4,862)	(9,160)
Other liabilities	16,822	1,020
Operating cash flows provided by continuing operations	81,862	49,718
Operating cash flows used in discontinued operations	(66)	(304)
Net cash provided by operating activities	81,796	49,414
Cash flows from investing activities:
Business acquisitions and purchases of client lists, net of cash acquired	(33,782)	(11,740)
Purchases of client fund investments	(3,447)	(21,171)
Proceeds from the sales and maturities of client fund investments	32,967	17,758
Increase in funds held for clients	3,250	406
Additions to property and equipment, net	(9,486)	(10,279)
Other	1,007	335
Net cash used in investing activities	(9,491)	(24,691)
Cash flows from financing activities:
Proceeds from bank debt	550,454	496,698
Payment of bank debt	(545,954)	(472,198)
Payment for acquisition of treasury stock	(34,123)	(22,826)
Decrease in client funds obligations	(57,517)	(45,818)
Proceeds from exercise of stock options	4,719	4,855
Payment of contingent consideration for acquisitions	(11,242)	(16,850)
Other, net	(395)	(334)
Net cash used in financing activities	(94,058)	(56,473)
Net decrease in cash, cash equivalents and restricted cash	(21,753)	(31,750)
Cash, cash equivalents and restricted cash at beginning of year	146,505	130,554
Cash, cash equivalents and restricted cash at end of period	124,752	98,804
Reconciliation of cash, cash equivalents and restricted cash to the Consolidated Balance Sheets:
Cash and cash equivalents	6,113	2,723
Restricted cash	25,275	35,739
Cash equivalents included in funds held for clients	93,364	60,342
Cash, cash equivalents and restricted cash at end of period	$ 124,752	$ 98,804