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Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Cash flows from operating activities:      
Net income $ 501,426 $ 505,868 $ 404,389
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 29,436 28,792 27,311
Amortization 51,419 48,895 48,275
Equity in earnings of unconsolidated affiliates (151,891) (159,791) (152,550)
Distributions received from unconsolidated affiliate 136,820 166,941 143,517
Stock-based compensation 24,582 23,805 36,366
Provision for losses on receivables 483 23 172
Deferred income tax (benefit) expense (3,414) 5,998 (21,046)
Net (gain) loss from investments (3,174) 325 (1,269)
Change in long-term taxes payable 0 (9,826) 10,629
Change in other long-term liabilities (163) 145 (2,265)
Change in other assets 1,791 (4,785) (1,489)
Contract costs capitalized, net (6,984) (5,366) 0
Other 620 (294) (2,186)
Decrease (increase) in:      
Receivables from investment products (4,296) 6,797 5,095
Receivables (25,505) (32,652) (52,726)
Other current assets 3,334 (5,518) (3,583)
Increase (decrease) in:      
Accounts payable (6,497) 5,652 (909)
Accrued liabilities (4,896) 13,079 20,992
Deferred revenue 2,031 313 1,180
Total adjustments 43,696 82,533 55,514
Net cash provided by operating activities 545,122 588,401 459,903
Cash flows from investing activities:      
Additions to property and equipment (43,097) (29,095) (25,525)
Additions to capitalized software (34,074) (44,221) (61,043)
Purchases of marketable securities (174,997) (203,460) (69,525)
Prepayments and maturities of marketable securities 171,399 167,876 65,830
Sales of marketable securities 51 0 0
Cash paid for acquisition, net of cash acquired 0 (5,794) (80,234)
Other investing activities 2,538 (8,676) (1,805)
Net cash used in investing activities (78,180) (123,370) (172,302)
Cash flows from financing activities:      
Payment of contingent consideration (433) 0 0
Repayments under revolving credit facility 0 (30,000) (10,000)
Borrowings under revolving credit facility 0 0 40,000
Purchase and retirement of common stock (346,352) (407,384) (248,339)
Proceeds from issuance of common stock 60,910 87,982 53,568
Payment of dividends (100,745) (94,318) (88,862)
Net cash used in financing activities (386,620) (443,720) (253,633)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 6,186 (11,024) 14,583
Net increase in cash, cash equivalents and restricted cash 86,508 10,287 48,551
Cash, cash equivalents and restricted cash, beginning of year 758,039 747,752 699,201
Cash, cash equivalents and restricted cash, end of year 844,547 758,039 747,752
Interest paid 493 806 699
Income taxes paid 139,326 110,203 165,049
Non-cash operating activities      
Operating lease right-of-use assets and net lease liabilities recorded upon adoption of ASC 842 44,169    
Non-cash financing activities      
Dividends declared but not paid $ 52,452 $ 50,761 $ 47,179