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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 404,386 $ 282,810 $ 245,368
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 27,808 24,129 18,989
Amortization 1,443 2,199 3,352
Stock-based compensation expense 25,514 20,516 21,412
Operating Lease, Right-of-Use Asset, Periodic Reduction 23,124 19,646 18,015
Deferred income tax benefit (26,632) (25,117) (23,014)
Other (4,009) 2,705 (2,127)
Changes in assets and liabilities:      
Accounts receivable and unbilled, net 2,242 (48,282) (66,920)
Prepaid expenses and other current assets (12,090) 2,986 (10,175)
Accounts payable (2,965) 1,051 6,431
Accrued expenses 16,882 82,080 52,476
Advanced billings 150,725 97,131 118,088
Lease liabilities (21,407) (18,873) (15,899)
Other assets and liabilities, net 23,794 (9,607) 22,054
Net cash provided by operating activities 608,815 433,374 388,050
CASH FLOWS FROM INVESTING ACTIVITIES:      
Property and equipment expenditures (36,548) (36,648) (36,879)
Other 8,240 2,019 (1,863)
Net cash used in investing activities (28,308) (34,629) (38,742)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from stock option exercises 15,858 11,378 22,074
Repurchases of common stock (169,867) (144,020) (847,849)
Proceeds from revolving loan 0 105,000 324,200
Payments on revolving loan 0 (155,000) (274,200)
Net cash used in financing activities (154,009) (182,642) (775,775)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (2,511) 1,081 (6,572)
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 423,987 217,184 (433,039)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 245,449 28,265 461,304
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period 669,436 245,449 28,265
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION—      
Cash paid during the period for income taxes 83,567 76,353 50,164
Cash paid during the period for interest 171 3,056 2,935
Acquisition of property and equipment—non-cash 4,984 5,254 7,838
Noncash or part noncash, share repurchases $ 4,347 $ 0 $ 0