XML 19 R8.htm IDEA: XBRL DOCUMENT v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 123,870 $ 114,595
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 6,751 6,694
Amortization 155 236
Stock-based compensation expense 4,918 16,892
Operating Lease, Right-of-Use Asset, Periodic Reduction 5,849 6,064
Deferred income tax provision 18,543 749
Other 400 (502)
Changes in assets and liabilities:    
Accounts receivable and unbilled, net 7,822 (2,069)
Prepaid expenses and other current assets (1,795) (17,553)
Accounts payable 84 10,720
Accrued expenses (1,300) (23,160)
Advanced billings 1,954 8,131
Lease liabilities (5,294) (6,548)
Other assets and liabilities, net (10,169) 11,587
Net cash provided by operating activities 151,788 125,836
CASH FLOWS FROM INVESTING ACTIVITIES:    
Property and equipment expenditures (6,814) (9,994)
Other 66 7
Net cash used in investing activities (6,748) (9,987)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Stock Options Exercised 12,670 25,934
Repurchases of common stock 0 (371,900)
Net cash provided by (used in) financing activities 12,670 (345,966)
EFFECT OF EXCHANGE RATES ON CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (2,078) 2,117
INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH 155,632 (228,000)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — Beginning of period 497,049 669,436
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH — End of period 652,681 441,436
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION —    
Share repurchases—non-cash $ 0 $ 22,343