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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net income $ 278,446 $ 242,677
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 37,683 34,063
Impairment charge 5,000 0
Provision for credit losses 3,942 2,890
Deferred income taxes 13,890 3,948
Share-based compensation expense 16,340 14,615
Other 695 456
Changes in assets and liabilities:    
Accounts receivable (56,808) (45,240)
Inventories 2,239 2,163
Other assets and liabilities (46,396) (9,487)
Accounts payable 11,217 (8,123)
Net cash provided by operating activities 266,248 237,962
Cash Flows from Investing Activities:    
Purchases of property and equipment (31,984) (30,026)
Acquisition of intangible assets (1,800) 0
Equity investments (799) 0
Proceeds from net investment hedges 1,039 416
Net cash used by investing activities (33,544) (29,610)
Cash Flows from Financing Activities:    
Borrowings under credit facility, net 132,000 69,500
Repurchases of common stock (351,036) (400,890)
Proceeds from exercises of stock options and employee stock purchase plans 18,161 7,193
Shares withheld for statutory tax withholding payments on restricted stock (10,555) (6,124)
Net cash used by financing activities (211,430) (330,321)
Net effect of changes in exchange rates on cash (816) (2,327)
Net increase (decrease) in cash and cash equivalents 20,458 (124,296)
Cash and cash equivalents at beginning of period 180,070 288,266
Cash and cash equivalents at end of period 200,528 163,970
Supplemental Cash Flow Information:    
Unpaid property and equipment, reflected in accounts payable and accrued liabilities $ 8,274 $ 10,702