v3.26.3
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net income $ 278,696 $ 214,143
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 62,831 64,115
Amortization of right-of-use asset 8,092 7,189
Stock-based compensation expense 58,394 53,663
Multiemployer pension plan liability adjustments 9,219 4,453
Change in long-term retirement benefit obligations (12,266) (8,157)
Other – net 591 2,284
Changes in operating assets and liabilities:    
Accounts receivable – net 42,068 45,441
Other assets 16,220 36,656
Accounts payable, accrued payroll and other liabilities (17,884) (14,045)
Unexpired subscriptions 11,501 10,858
Other noncurrent assets and liabilities 4,783 3,734
Net cash provided by operating activities 462,245 420,334
Cash flows from investing activities    
Purchases of marketable securities (486,547) (473,388)
Maturities of marketable securities 346,171 338,697
Capital expenditures (26,442) (27,451)
Other – net 403 13,025
Net cash used in investing activities (166,415) (149,117)
Cash flows from financing activities    
Dividends paid (104,787) (81,073)
Payment of contingent consideration 0 (431)
Capital shares:    
Repurchases (170,879) (109,880)
Share-based compensation tax withholding (55,047) (29,341)
Net cash used in financing activities (330,713) (220,725)
Net (decrease)/increase in cash, cash equivalents and restricted cash (34,883) 50,492
Effect of exchange rate changes on cash (243) (140)
Cash, cash equivalents and restricted cash at the beginning of the period 270,461 213,857
Cash, cash equivalents and restricted cash at the end of the period $ 235,335 $ 264,209