Organic ASV plus Professional Services reached $2,209.5 million, a 5.4% increase compared to the prior year. This growth was primarily driven by higher sales to existing clients, price increases, and new client acquisitions.

FactSet is focused on expanding its digital platform by scaling up its content refinery and enhancing its open ecosystem. The company is also focused on ensuring execution excellence through innovation, collaboration, and sales force optimization.

Buy-side and sell-side Organic ASV annual growth rates as of February 29, 2024 were 5.6% and 5.5%, respectively. This indicates balanced growth across different client segments.

Employee headcount increased to 12,279, a 3.2% increase compared to the prior year, driven by investments in centers of excellence (COEs) in India and the Philippines. This indicates a strategic focus on leveraging global talent pools.

Annual ASV retention was greater than 95% for the period ended February 29, 2024. This indicates strong customer loyalty and satisfaction with FactSet's services.

The effective tax rate for the three and six months ended February 29, 2024 was higher than the prior year periods, mainly driven by higher pretax income at applicable statutory tax rates and a higher overall foreign tax rate.

The company is involved in ongoing disputes with the Commonwealth of Massachusetts regarding sales tax assessments, and an adverse outcome could have a material impact on the company's financial position.

Foreign currency exchange rate fluctuations, net of hedge activity, decreased operating income by $2.3 million and $0.4 million for the three and six months ended February 29, 2024 compared with the three and six months ended February 28, 2023.

The company repurchased 249,000 shares for $112.2 million during the six months ended February 29, 2024, indicating a commitment to returning value to shareholders.

Capital expenditures increased to $38.4 million, an 8.4% increase compared to the prior year, driven by investments in internal-use software development. This reflects a focus on technology and innovation.

On March 1, 2024, we entered into an interest rate swap agreement to hedge a portion of our outstanding floating SOFR debt with a fixed interest rate of 5.145%.