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Condensed Consolidated Statements of Cash Flows
$ in Millions
 9 Months Ended
Sep. 30, 2023
USD ($)
Sep. 30, 2022
USD ($)
Cash flows from operating activities:    
Net income $ 549.4 $ 75.3
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 120.0 122.1
Amortization of debt issuance cost and debt discount 1.9 1.7
Change in fair value of contingent consideration   (3.6)
Realized gain on available-for-sale financial investments (2.5)  
Provision for accounts receivable credit losses 2.8 0.7
Benefit for deferred income taxes (6.9) (146.8)
Stock-based compensation expense 35.1 23.1
Loss on disposal of property and equipment 0.2 0.3
Impairment charge of investment   10.6
Goodwill impairment   460.9
Equity earnings in investments (33.7) (4.7)
Gain on investment   (7.5)
Changes in assets and liabilities:    
Accounts receivable 6.9 (66.9)
Restricted cash and cash equivalents and customer bank deposits (included in margin deposits and clearing funds) 785.6 262.8
Income taxes receivable (12.2) 3.0
Other current assets (12.4) (3.6)
Other assets (26.8) (17.4)
Accounts payable and accrued liabilities (42.5) 28.0
Section 31 fees payable (135.5) (2.8)
Deferred revenue (2.5) (0.1)
Income taxes payable (3.4) (6.7)
Unrecognized tax benefits 37.7 77.8
Other liabilities 3.4 (11.5)
Net cash provided by operating activities 1,264.6 794.7
Cash flows from investing activities:    
Acquisitions, net of cash acquired   (707.4)
Purchases of available-for-sale financial investments (69.7) (41.1)
Proceeds from maturities of available-for-sale financial investments 135.7 49.8
Proceeds from sale of intangible assets 0.8  
Proceeds from investments   1.1
Contributions to investments (55.8) (14.6)
Purchases of property and equipment and leasehold improvements (27.9) (32.4)
Net cash used in investing activities (16.9) (744.6)
Cash flows from financing activities:    
Proceeds from long-term debt   663.6
Principal payments of current portion of long-term debt (230.0) (100.0)
Debt issuance costs   (4.9)
Cash dividends on common stock (165.0) (156.0)
Repurchases of common stock from employee stock plans (13.8) (8.8)
Payments of contingent consideration related to acquisitions (10.9) (33.2)
Shares issued under employee stock purchase plan (15.8) (0.4)
Purchase of common stock (78.1) (85.6)
Net cash (used in) provided by financing activities (513.6) 274.7
Effect of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents 17.7 (30.5)
Increase in cash, cash equivalents, and restricted cash and cash equivalents 751.8 294.3
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 1,731.7 1,386.5
Supplemental disclosure of cash transactions:    
Cash paid for income taxes, net of refunds 203.7 194.0
Cash paid for interest $ 50.4 52.4
Supplemental disclosure of noncash investing activities:    
Accounts receivable acquired   4.4
Financial investments acquired   1.5
Other current assets acquired   1.6
Goodwill acquired   607.8
Intangible assets acquired   164.1
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   (7.7)
Deferred income taxes acquired   (40.3)
Other non-current liabilities acquired   (0.4)
Paycheck Protection Program loan forgiveness   $ 1.3