CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024
Cash flows from operating activities:
Net income	$ 162,322	$ 104,563
Adjustments to reconcile net income to net cash flows from operating activities:
Depreciation	9,528	14,999
Amortization	62,698	71,711
Amortization of operating lease right-of-use assets	7,245	7,337
Amortization of deferred debt issuance costs	1,691	2,257
Deferred income taxes	1,133	(2,229)
Stock-based compensation expense	45,419	30,165
Gain on sale of equity investment	(25,927)	0
Other	1,992	180
Changes in operating assets and liabilities:
Receivables	(34,316)	3,699
Accounts payable	9,998	758
Accrued employee compensation	(9,454)	(11,125)
Deferred revenue	(17,625)	1,884
Other current and noncurrent assets and liabilities	(13,648)	8,067
Net cash flows from operating activities	201,056	232,266
Cash flows from investing activities:
Purchases of property and equipment	(7,730)	(8,463)
Purchases of software and distribution rights	(18,643)	(23,178)
Proceeds from sale of equity investment	46,021	0
Net cash flows from investing activities	19,648	(31,641)
Cash flows from financing activities:
Proceeds from issuance of common stock	2,503	2,129
Proceeds from exercises of stock options	1,262	1,954
Repurchase of stock-based compensation awards for tax withholdings	(23,854)	(9,299)
Repurchases of common stock	(150,023)	(127,670)
Redemption of 2026 Notes	(400,000)	0
Proceeds from revolving credit facility	290,000	184,000
Repayment of revolving credit facility	(120,000)	(177,000)
Proceeds from term portion of credit agreement	200,000	500,000
Repayment of term portion of credit agreement	(29,375)	(547,823)
Payments on or proceeds from other debt, net	(11,965)	(9,299)
Payments for debt issuance costs	(134)	(5,141)
Net increase in settlement assets and liabilities	6,339	17,704
Net cash flows from financing activities	(235,247)	(170,445)
Effect of exchange rate fluctuations on cash	2,936	(331)
Net increase (decrease) in cash and cash equivalents	(11,607)	29,849
Cash and cash equivalents, including settlement deposits, beginning of period	265,018	238,821
Cash and cash equivalents, including settlement deposits, end of period	253,411	268,670
Reconciliation of cash and cash equivalents to the Consolidated Balance Sheets
Cash and cash equivalents	199,268	177,860
Settlement deposits	54,143	90,810
Total cash and cash equivalents, including settlement deposits	253,411	268,670
Supplemental cash flow information
Income taxes paid	44,948	23,143
Interest paid	$ 50,625	$ 59,924

ACI WORLDWIDE, INC. 10-Q