v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Operating activities    
Net income $ 216,340 $ 230,378
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation of property and equipment 33,591 32,176
Amortization of intangible assets 2,850 3,149
Amortization of notes receivable 50,767 37,944
Provision for expected credit losses 25,810 28,376
Share-based compensation 28,694 27,975
Deferred income taxes 18,216 (3,768)
Other 432 (315)
Changes in operating assets and liabilities, net of effects from acquisitions:    
Accounts receivable, billed and unbilled (122,707) (100,004)
Notes receivable, net of repayments (251,576) (83,533)
Prepaid expenses and other assets (9,199) (8,604)
Accounts payable, accrued expenses and other (3,858) (2,590)
Income taxes (78,708) (20,202)
Accrued compensation (110,111) (57,691)
Billings in excess of services provided (8,165) (3,509)
Net cash provided by (used in) operating activities (207,624) 79,782
Investing activities    
Purchases of property and equipment and other (50,142) (21,729)
Maturity of short-term investment 0 25,246
Net cash provided by (used in) investing activities (50,142) 3,517
Financing activities    
Borrowings under revolving line of credit 1,040,000 600,000
Repayments under revolving line of credit (530,000) (600,000)
Purchase and retirement of common stock (770,889) 0
Share-based compensation tax withholdings (18,295) (16,593)
Proceeds on stock option exercises 1,392 10,614
Deposits and other 509 1,106
Net cash used in financing activities (277,283) (4,873)
Effect of exchange rate changes on cash and cash equivalents 20,523 4,696
Net increase (decrease) in cash and cash equivalents (514,526) 83,122
Cash and cash equivalents, beginning of period 660,493 303,222
Cash and cash equivalents, end of period 145,967 386,344
Supplemental cash flow disclosures    
Cash paid for interest 9,339 5,445
Cash paid for income taxes and tax credits, net of refunds 128,400 84,554
Non-cash investing and financing activities:    
Issuance of stock units under incentive compensation plans 2,069 2,805
Excise tax on purchase and retirement of common stock 7,081 0
Non-cash additions to property and equipment $ 2,119 $ 1,136