XML 19 R8.htm IDEA: XBRL DOCUMENT v3.25.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:    
Net income $ 162,322 $ 104,563
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation 9,528 14,999
Amortization 62,698 71,711
Amortization of operating lease right-of-use assets 7,245 7,337
Amortization of deferred debt issuance costs 1,691 2,257
Deferred income taxes 1,133 (2,229)
Stock-based compensation expense 45,419 30,165
Gain on sale of equity investment (25,927) 0
Other 1,992 180
Changes in operating assets and liabilities:    
Receivables (34,316) 3,699
Accounts payable 9,998 758
Accrued employee compensation (9,454) (11,125)
Deferred revenue (17,625) 1,884
Other current and noncurrent assets and liabilities (13,648) 8,067
Net cash flows from operating activities 201,056 232,266
Cash flows from investing activities:    
Purchases of property and equipment (7,730) (8,463)
Purchases of software and distribution rights (18,643) (23,178)
Proceeds from sale of equity investment 46,021 0
Net cash flows from investing activities 19,648 (31,641)
Cash flows from financing activities:    
Proceeds from issuance of common stock 2,503 2,129
Proceeds from exercises of stock options 1,262 1,954
Repurchase of stock-based compensation awards for tax withholdings (23,854) (9,299)
Repurchases of common stock (150,023) (127,670)
Redemption of 2026 Notes (400,000) 0
Proceeds from revolving credit facility 290,000 184,000
Repayment of revolving credit facility (120,000) (177,000)
Proceeds from term portion of credit agreement 200,000 500,000
Repayment of term portion of credit agreement (29,375) (547,823)
Payments on or proceeds from other debt, net (11,965) (9,299)
Payments for debt issuance costs (134) (5,141)
Net increase in settlement assets and liabilities 6,339 17,704
Net cash flows from financing activities (235,247) (170,445)
Effect of exchange rate fluctuations on cash 2,936 (331)
Net increase (decrease) in cash and cash equivalents (11,607) 29,849
Cash and cash equivalents, including settlement deposits, beginning of period 265,018 238,821
Cash and cash equivalents, including settlement deposits, end of period 253,411 268,670
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets    
Cash and cash equivalents 199,268 177,860
Settlement deposits 54,143 90,810
Total cash and cash equivalents, including settlement deposits 253,411 268,670
Supplemental cash flow information    
Income taxes paid 44,948 23,143
Interest paid $ 50,625 $ 59,924