v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 20,901 $ 18,290
Restricted cash 49,615 38,234
Accounts receivable, net 711,919 555,995
Other current assets 86,717 79,693
Current assets before funds held for clients 869,152 692,212
Funds held for clients 135,047 207,037
Total current assets 1,004,199 899,249
Non-current assets:    
Property and equipment, net 84,777 81,242
Goodwill and other intangible assets, net 2,846,962 2,869,790
Assets of deferred compensation plan 202,044 186,870
Right-of-use assets, net 400,084 334,048
Other non-current assets 35,640 38,329
Total non-current assets 3,569,507 3,510,279
Total assets 4,573,706 4,409,528
Current liabilities:    
Accounts payable 115,513 90,934
Income taxes payable 30,117 11,008
Accrued personnel costs 155,525 197,534
Contingent purchase price liabilities 17,406 30,035
Lease liabilities 59,135 64,674
Short-term debt [1] 83,975 66,372
Other current liabilities 86,866 68,299
Current liabilities before client fund obligations 548,537 528,856
Client fund obligations 135,308 206,738
Total current liabilities 683,845 735,594
Non-current liabilities:    
Long-term debt [1] 1,375,734 1,389,552
Income taxes payable 2,654 3,009
Deferred income taxes, net 44,566 7,141
Deferred compensation plan obligations 201,964 186,870
Contingent purchase price liabilities 3,606 10,213
Lease liabilities 387,417 307,905
Other non-current liabilities 6,188 7,177
Total non-current liabilities 2,022,129 1,911,867
Total liabilities 2,705,974 2,647,461
STOCKHOLDERS' EQUITY    
Common stock 1,467 1,447
Additional paid in capital 1,831,241 1,830,866
Retained earnings 1,182,957 1,011,566
Treasury stock (1,148,632) (1,078,521)
Accumulated other comprehensive income (loss) 699 (3,291)
Total stockholders’ equity 1,867,732 1,762,067
Total liabilities and stockholders’ equity $ 4,573,706 $ 4,409,528
[1] See Note 6. Debt and Financing Arrangements for further discussion of the short-term and long-term debt.