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Condensed Consolidated Statements of Cash Flows
$ in Millions
 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Cash flows from operating activities:    
Net income (loss) $ 341.2 $ (74.9)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 81.2 81.1
Amortization of debt issuance cost and debt discount 1.3 1.1
Realized gain on available-for-sale financial investments (1.6)  
Provision for accounts receivable credit losses 1.8 0.3
Benefit for deferred income taxes (17.3) (142.3)
Stock-based compensation expense 26.0 16.1
Loss on disposal of property and equipment   0.3
Impairment charge of investment   10.6
Goodwill impairment   460.1
Equity (earnings) loss in investments (22.9) 3.5
Gain on investment   (7.5)
Changes in assets and liabilities:    
Accounts receivable 12.6 (70.0)
Restricted cash and cash equivalents and customer bank deposits (included in margin deposits and clearing funds) 168.8 215.9
Income taxes receivable 10.3 (8.5)
Other current assets (4.7) (0.8)
Other assets (17.2) (13.3)
Accounts payable and accrued liabilities (36.8) 24.0
Section 31 fees payable (37.3) 75.5
Deferred revenue 2.8 6.8
Income taxes payable (3.6) (7.1)
Unrecognized tax benefits 27.6 66.5
Other liabilities (4.5) (12.0)
Net cash provided by operating activities 527.7 625.4
Cash flows from investing activities:    
Acquisitions, net of cash acquired   (706.5)
Purchases of available-for-sale financial investments (69.7) (41.1)
Proceeds from maturities of available-for-sale financial investments 64.4 8.6
Proceeds from sale of intangible assets 0.8  
Proceeds from investments   1.1
Contributions to investments (18.1) (12.8)
Purchases of property and equipment and leasehold improvements (20.2) (22.2)
Net cash used in investing activities (42.8) (772.9)
Cash flows from financing activities:    
Proceeds from long-term debt   663.6
Principal payments of current portion of long-term debt (140.0)  
Debt issuance costs   (4.9)
Cash dividends on common stock (106.5) (102.6)
Repurchases of common stock from employee stock plans (13.0) (8.6)
Payments of contingent consideration related to acquisitions (10.2) (25.9)
Shares issued under employee stock purchase plan (0.9) (0.2)
Purchase of common stock (78.1) (85.6)
Net cash (used in) provided by financing activities (348.7) 435.8
Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents 20.3 (15.8)
Increase in cash, cash equivalents, and restricted cash and cash equivalents 156.5 272.5
Cash, cash equivalents, and restricted cash and cash equivalents: Beginning of period 979.9 1,092.2
Cash, cash equivalents, and restricted cash and cash equivalents: End of period 1,136.4 1,364.7
Supplemental disclosure of cash transactions:    
Cash paid for income taxes, net of refunds 129.5 134.4
Cash paid for interest $ 38.4 45.0
Supplemental disclosure of noncash investing activities:    
Accounts receivable acquired   4.4
Financial investments acquired   1.5
Other current assets acquired   1.6
Goodwill acquired   529.5
Intangible assets acquired   225.1
Property and equipment, net acquired   1.6
Data processing software and other assets acquired   2.0
Operating lease right of use asset acquired   1.2
Accounts payable and accrued liabilities assumed   (6.1)
Deferred revenue acquired   (0.6)
Operating lease liability acquired   (1.2)
Contingent consideration related to acquisitions   (54.3)
Deferred income taxes acquired   (40.3)
Other non-current liabilities acquired   (0.4)
Paycheck Protection Program loan forgiveness   $ 1.3