| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Dec'17 | Sep'17 | Jun'17 | Mar'17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||||||||
Net income | ||||||||||||
135,130 | 92,491 | 68,817 | 63,415 | 67,707 | 63,704 | 60,998 | 48,258 | 31,937 | 25,826 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||
Provision for deferred income taxes | ||||||||||||
5,077 | -745 | 2,475 | 4,986 | 2,115 | 4,116 | 7,256 | 9,747 | 11,816 | 11,191 | 0 | 0 | 0 |
Depreciation and amortization | ||||||||||||
22,701 | 23,873 | 23,613 | 21,419 | 22,087 | 23,277 | 24,487 | 25,968 | 28,168 | 29,910 | 0 | 0 | 0 |
Deferred financing costs and derivative and accretion expense | ||||||||||||
0 | - | 0 | 0 | 0 | - | 0 | 0 | -5,961 | - | 0 | 0 | 0 |
Stock-based and deferred compensation | ||||||||||||
20,972 | 22,124 | 16,756 | 16,655 | 17,017 | 17,346 | 17,372 | 18,099 | 17,827 | 17,179 | 0 | 0 | 0 |
Change in fair value of contingent consideration obligations | ||||||||||||
0 | - | - | - | - | - | - | - | - | - | - | - | - |
Unrealized depreciation (appreciation) on investments | ||||||||||||
-4,542 | 1,887 | -1,724 | -1,108 | -1,290 | -2,872 | 126 | 477 | 317 | 620 | 0 | 0 | 0 |
Loss on equity method investment | ||||||||||||
- | 2,683 | 2,459 | -545 | -597 | -730 | 0 | 0 | 0 | - | - | - | - |
Loss on debt extinguishment | ||||||||||||
0 | - | - | - | - | -6,058 | 0 | 0 | 0 | - | - | - | - |
Changes in operating assets and liabilities: | ||||||||||||
Receivables | ||||||||||||
0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 |
Prepaid expenses | ||||||||||||
2,817 | 2,141 | 2,126 | 897 | -149 | 215 | -1,053 | -1,840 | 879 | 1,231 | 0 | 0 | 0 |
Other assets | ||||||||||||
0 | - | - | - | - | -57 | -427 | -260 | -529 | -79 | 0 | 0 | 0 |
Accounts payable and accrued expenses | ||||||||||||
0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 |
Accrued compensation and benefits | ||||||||||||
5,041 | 18,700 | 8,575 | -2,211 | -1,120 | 931 | 7,572 | 2,413 | 919 | -10,607 | 0 | 0 | 0 |
Other liabilities | ||||||||||||
3,190 | 2,871 | 1,783 | -2,949 | 228 | 446 | -35 | 2,741 | -683 | -1,092 | 0 | 0 | 0 |
Net cash provided by operating activities | ||||||||||||
261,368 | 227,384 | 202,133 | 124,031 | 126,411 | 134,345 | 136,656 | 128,667 | 112,367 | 96,169 | 0 | 0 | 0 |
Cash flows from investing activities | ||||||||||||
Purchases of property and equipment | ||||||||||||
5,463 | 5,239 | 3,724 | 2,130 | 2,327 | 2,546 | 4,219 | 4,596 | 5,142 | 5,105 | 0 | 0 | 0 |
Purchases of trading securities | ||||||||||||
7,678 | 6,594 | 8,753 | 8,146 | 7,773 | 7,704 | 5,719 | 9,053 | 9,198 | 9,567 | 0 | 0 | 0 |
Sales of trading securities | ||||||||||||
3,270 | 2,749 | 4,470 | 3,579 | 2,894 | 2,772 | 1,565 | 4,593 | 4,677 | 5,166 | 0 | 0 | 0 |
Equity method investment | ||||||||||||
- | - | - | - | - | - | 0 | 0 | 0 | - | - | - | - |
Net cash used in investing activities | ||||||||||||
-850,599 | -849,812 | -849,782 | -8,768 | -10,277 | -11,549 | -11,094 | -11,489 | -9,689 | -8,532 | 0 | 0 | 0 |
Cash flows from financing activities | ||||||||||||
Payment of Class A common stock deferred offering costs | ||||||||||||
- | - | - | - | - | - | 0 | 0 | 0 | - | - | - | - |
Repurchase of common stock | ||||||||||||
19,912 | 15,535 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Payments of taxes related to net share settlement of equity awards | ||||||||||||
11,894 | 7,659 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Proceeds from long-term senior debt | ||||||||||||
- | - | - | - | - | 359,100 | 359,100 | 359,100 | 359,100 | 125,000 | 0 | 0 | 0 |
Repayment of draw on line of credit | ||||||||||||
- | - | - | - | - | - | - | - | - | 3,500 | 0 | 0 | 0 |
Payment of debt financing fees | ||||||||||||
- | - | - | - | - | 2,508 | 2,507 | 2,429 | 2,091 | 1,733 | 0 | 0 | 0 |
Repayment of long-term senior debt | ||||||||||||
0 | - | - | - | - | 579,750 | 597,750 | 607,750 | 592,689 | 63,877 | 0 | 0 | 0 |
Repayment of promissory note | ||||||||||||
- | 96 | 240 | 384 | 527 | 575 | 575 | 575 | 575 | 575 | 0 | 0 | 0 |
Payment of dividends | ||||||||||||
10,885 | 7,436 | 4,121 | 699 | 819 | 831 | 14,736 | 15,418 | 15,358 | 135,171 | 0 | 0 | 0 |
Receipt of consideration for acquisition | ||||||||||||
0 | - | - | - | - | - | - | - | - | - | - | - | - |
Payment of consideration for acquisition | ||||||||||||
- | - | - | - | - | - | - | - | - | 8,381 | 0 | 0 | 0 |
Net cash used in financing activities | ||||||||||||
560,185 | 608,016 | 701,515 | -35,086 | -62,086 | -84,161 | -111,915 | -117,019 | -102,623 | -91,273 | 0 | 0 | 0 |
Effect of changes of foreign exchange rate on cash and cash equivalents | ||||||||||||
-85 | 42 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Net increase in cash and cash equivalents | ||||||||||||
-29,131 | -14,370 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Supplemental cash flow information | ||||||||||||
Cash paid for interest | ||||||||||||
39,765 | 23,454 | 11,971 | 14,893 | 15,168 | 17,530 | 22,560 | 28,664 | 36,663 | 41,489 | 0 | 0 | 0 |
Cash paid for income taxes | ||||||||||||
25,636 | 24,634 | 0 | 0 | 0 | - | - | - | - | - | - | - | - |
Effect of changes of foreign exchange rate on cash and cash equivalents | ||||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - | - |
Net increase (decrease) in cash and cash equivalents | ||||||||||||
- | - | - | - | - | - | - | - | 210 | - | 0 | 0 | 0 |
Class A common stock offering costs reclassed from prepaid expenses and accounts payable and accrued expenses to additional paid in capital | ||||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - | - |
Class A | ||||||||||||
Issuance of common stock, net of costs | ||||||||||||
75 | 62 | 32 | 29 | 13 | 156,549 | 0 | 0 | 0 | - | - | - | - |
Class B | ||||||||||||
Issuance of common stock, net of costs | ||||||||||||
5,486 | 4,014 | 3,488 | 2,196 | 1,461 | 1,250 | 0 | 0 | 0 | - | - | - | - |