XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 268,324 $ 351,234
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 94,024 63,003
Operating lease right-of-use assets amortization expense 30,939 28,051
Bad debt recovery (31) (3,071)
Deferred taxes 3,206 (24,888)
Stock-based compensation expense 131,618 122,599
Other 8,359 7,110
Changes in assets and liabilities:    
Trade receivables and contract assets (91,758) (22,791)
Prepaid and other assets 5,382 (52,167)
Accounts payable (5,262) (4,611)
Accrued expenses and other liabilities 21,862 17,262
Operating lease liabilities (32,856) (29,604)
Income taxes payable (61,763) (23,218)
Net cash provided by operating activities 372,044 428,909
Cash flows from investing activities:    
Purchases of property and equipment (27,462) (16,419)
Purchases of short-term investments (1,966) (1,872)
Proceeds from short-term investments 0 41,509
Acquisition of business, net of cash acquired (Note 3) (3,344) (57,065)
Purchases of non-marketable securities (720) (6,927)
Proceeds from non-marketable securities 2,913 0
Other investing activities, net (2,223) 1,674
Net cash used in investing activities (32,802) (39,100)
Cash flows from financing activities:    
Proceeds from issuance of stock under the employee incentive programs 35,037 33,781
Payments of withholding taxes related to net share settlements of restricted stock units (24,421) (32,465)
Repayment of debt (1,842) (1,497)
Repurchase of common stock (438,633) (385,025)
Payment of contingent consideration for previously acquired businesses (6,238) (4,750)
Purchase of subsidiary shares from noncontrolling interest (1,358) 0
Other financing activities, net (1,764) (1,711)
Net cash used in financing activities (439,219) (391,667)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 53,100 (543)
Net decrease in cash, cash equivalents and restricted cash (46,877) (2,401)
Cash, cash equivalents and restricted cash, beginning of period 1,290,392 2,043,108
Cash, cash equivalents and restricted cash, end of period $ 1,243,515 $ 2,040,707