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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flow from operating activities:    
Net income $ 348.7 $ 257.1
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 333.0 331.8
Equity in earnings of unconsolidated affiliates, net (19.6) (15.1)
Distributions received from unconsolidated affiliates 2.5 16.2
Stock-based compensation expense 95.7 75.4
Net losses (gains) on investments 0.6 (1.8)
Amortization and write-offs of loan origination costs and original issue discounts 5.2 6.9
Loss on extinguishment of debt 28.8 0.6
(Gain) loss on sale or disposition of property and equipment (0.1) 6.9
Deferred income taxes (49.4) (52.7)
Provision for credit losses 9.7 8.0
Changes in operating assets and liabilities, excluding effects from acquisitions:    
Accounts receivable (83.3) (28.2)
Prepaid expenses and other assets 16.5 62.7
Contract assets (7.2) 9.0
Accounts payable (37.4) (5.0)
Accrued expenses and other liabilities (90.2) (106.4)
Income taxes prepaid and payable (8.3) 0.9
Deferred revenue 20.2 17.9
Net cash provided by operating activities 565.4 584.2
Cash flow from investing activities:    
Cash paid for business acquisitions, net of cash acquired and asset acquisitions (0.9) (0.1)
Additions to property and equipment (15.8) (24.2)
Proceeds from sale of property and equipment 3.2 0.0
Additions to capitalized software (100.2) (97.2)
Proceeds from sales / maturities of investments 0.2 2.1
Distributions received from unconsolidated affiliates 24.5 0.0
Collection of other non-current receivables 5.0 5.0
Net cash used in investing activities (84.0) (114.4)
Cash flow from financing activities:    
Cash received from debt borrowings, net of original issue discount 4,745.0 175.0
Repayments of debt (4,850.1) (344.8)
Payment of deferred financing fees (30.0) 0.0
Net decrease in client funds obligations (1,151.6) (613.6)
Proceeds from exercise of stock options 103.7 45.1
Withholding taxes paid related to equity award net share settlement (14.9) (1.6)
Purchases of common stock for treasury (279.9) (244.1)
Dividends paid on common stock (119.8) (101.2)
Net cash used in financing activities (1,597.6) (1,085.2)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3.9) 0.6
Net decrease in cash, cash equivalents and restricted cash (1,120.1) (614.8)
Cash, cash equivalents and restricted cash, beginning of period 2,998.6 1,337.6
Cash, cash equivalents and restricted cash and cash equivalents, end of period 1,878.5 722.8
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents:    
Cash and cash equivalents 462.7 439.7
Restricted cash and cash equivalents 3.3 2.5
Restricted cash and cash equivalents included in funds receivable and funds held on behalf of clients 1,412.5 280.6
Cash and cash equivalents and restricted cash $ 1,878.5 $ 722.8