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Consolidated Statements of Cash Flows
$ in Thousands
 12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Cash flows from operating activities:      
Net income $ 447,286 $ 501,426 $ 505,868
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 30,959 29,436 28,792
Amortization 52,975 51,419 48,895
Equity in earnings of unconsolidated affiliates (117,134) (151,891) (159,791)
Partner distributions received from unconsolidated affiliate 125,534 148,936 166,698
Stock-based compensation 27,014 24,582 23,805
Provision for losses on receivables (101) 483 23
Deferred income tax (benefit) expense (1,036) (3,414) 5,998
Net loss (gain) from investments 286 (3,174) 325
Change in long-term taxes payable 0 0 (9,826)
Change in other long-term liabilities (420) (163) 145
Change in other assets (1,449) 1,791 (4,785)
Contract costs capitalized, net (2,790) (6,984) (5,366)
Other 912 620 (294)
Decrease (increase) in:      
Receivables from investment products (1,106) (4,296) 6,797
Receivables (44,761) (25,505) (32,652)
Other current assets (6,407) 3,334 (5,518)
Advances due from unconsolidated affiliate (39,420) (12,116) 243
Increase (decrease) in:      
Accounts payable 3,343 (6,497) 5,652
Accrued liabilities 21,097 (4,896) 13,079
Deferred revenue (6,100) 2,031 313
Total adjustments 41,396 43,696 82,533
Net cash provided by operating activities 488,682 545,122 588,401
Cash flows from investing activities:      
Additions to property and equipment (54,448) (43,097) (29,095)
Additions to capitalized software (24,119) (34,074) (44,221)
Purchases of marketable securities (143,493) (174,997) (203,460)
Prepayments and maturities of marketable securities 155,110 171,399 167,876
Sales of marketable securities 842 51 0
Cash paid for acquisition, net of cash acquired 0 0 (5,794)
Other investing activities (1,388) 2,538 (8,676)
Net cash used in investing activities (67,496) (78,180) (123,370)
Cash flows from financing activities:      
Payment of contingent consideration (633) (433) 0
Repayments under revolving credit facility 0 0 (30,000)
Purchase and retirement of common stock (427,001) (346,352) (407,384)
Proceeds from issuance of common stock 49,413 60,910 87,982
Payment of dividends (103,914) (100,745) (94,318)
Net cash used in financing activities (482,135) (386,620) (443,720)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 4,129 6,186 (11,024)
Net (decrease) increase in cash, cash equivalents and restricted cash (56,820) 86,508 10,287
Cash, cash equivalents and restricted cash, beginning of year 844,547 758,039 747,752
Cash, cash equivalents and restricted cash, end of year 787,727 844,547 758,039
Interest paid 612 493 806
Income taxes paid 121,987 139,326 110,203
Non-cash operating activities      
Operating lease right-of-use assets and net lease liabilities recorded upon adoption of ASC 842 0 44,169  
Non-cash financing activities      
Dividends declared but not paid $ 53,127 $ 52,452 $ 50,761