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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities:    
Net income $ 184,694 $ 147,202
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 48,397 52,787
Deferred income taxes 7,056 (14,632)
Stock-based compensation expense 57,856 56,092
Deferred compensation plan 13,665 4,763
Amortization of deferred debt issuance costs 5,554 5,469
Change in fair value of derivative 5,570 (4,102)
Foreign currency remeasurement (gain) loss (126) 3,198
Other (1,733) 2,464
Changes in assets and liabilities, net of effect from acquisitions:    
Accounts receivable 34,588 56,065
Prepaid and other assets (9,952) (1,246)
Accounts payable, accruals, and other liabilities 36,356 33,437
Deferred revenues (31,512) (17,688)
Income taxes payable, net of prepaid income taxes 3,247 5,834
Net cash provided by operating activities 353,660 329,643
Cash flows from investing activities:    
Purchases of property and equipment and investment in capitalized software (8,499) (18,906)
Acquisitions, net of cash acquired (128,774) (23,110)
Purchases of investments (807) (11,352)
Proceeds from investments 0 2,123
Other 2,400 0
Net cash used in investing activities (135,680) (51,245)
Cash flows from financing activities:    
Proceeds from credit facilities 233,281 442,566
Payments of credit facilities (207,608) (634,718)
Repayments of term loan (140,000) (3,750)
Payments of contingent and non-contingent consideration (3,022) (3,039)
Payments of dividends (53,985) (43,992)
Proceeds from stock purchases under employee stock purchase plan 11,228 9,988
Proceeds from exercise of stock options 4,007 10,590
Payments for shares acquired including shares withheld for taxes (11,199) (57,527)
Repurchases of Class B common stock under approved program (45,769) 0
Other (151) (137)
Net cash used in financing activities (213,218) (280,019)
Effect of exchange rate changes on cash and cash equivalents (999) (3,100)
Increase (decrease) in cash and cash equivalents 3,763 (4,721)
Cash and cash equivalents, beginning of year 68,412 71,684
Cash and cash equivalents, end of period 72,175 66,963
Supplemental information:    
Cash paid for income taxes 33,948 29,467
Income tax refunds 925 764
Interest paid 12,130 29,370
Non-cash investing and financing activities:    
Cost method investment 0 3,500
Deferred, non-contingent consideration, net 0 525
Share-settled executive bonus plan awards 13,199 13,057
Deferred compensation plan elective participant deferrals $ 144 $ 1,712