Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	9 Months Ended
Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities:
Net income	$ 97,631	$ 135,437
Adjustments to reconcile net income to net cash provided by operating activities:
Write-down of impaired assests	42,373
Depreciation and amortization	11,369	12,080
Amortization of deferred sales commissions	40,142	40,178
Share-based compensation	37,146	34,490
Excess tax benefits from share-based payment arrangements	(3,298)	(7,873)
Gain on sale of available for sale investment securities	(3,163)	(2,258)
Net purchases and sales or maturities of trading securities	(37,806)	63,543
Loss on trading securities	330	2,740
Loss on sale and retirement of property and equipment	5,205	1,697
Deferred income taxes	(7,243)	(1,368)
Changes in assets and liabilities:
Cash and cash equivalents - restricted	(32,662)	25,535
Receivables from funds and separate accounts	(7,975)	(2,708)
Other receivables	(44,204)	(29,969)
Other assets	1,550	(549)
Deferred sales commissions	(41,494)	(46,925)
Accounts payable and payable to investment companies	63,995	(2,865)
Other liabilities	28,491	17,453
Net cash provided by operating activities	150,387	238,638
Cash flows from investing activities:
Purchases of available for sale investment securities	(41,676)	(99,297)
Proceeds from sales and maturities of available for sale investment securities	48,431	92,276
Additions to property and equipment	(11,270)	(14,359)
Proceeds from sales of property and equipment	37	5
Net cash used in investing activities	(4,478)	(21,375)
Cash flows from financing activities:
Dividends paid	(64,455)	(51,672)
Repurchase of common stock	(36,004)	(57,100)
Exercise of stock options		4,822
Excess tax benefits from share-based payment arrangements	3,298	7,873
Net cash used in financing activities	(97,161)	(96,077)
Net increase in cash and cash equivalents	48,748	121,186
Cash and cash equivalents at beginning of period	327,083	195,315
Cash and cash equivalents at end of period	375,831	316,501
Less cash and cash equivalents of discontinued operations at end of period	2,754	2,516
Cash and cash equivalents of continuing operations at end of period	$ 373,077	$ 313,985

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The amount of expense recognized in the current period for the periodic realization of capitalized fees that were paid to salespeople, distributors, brokers, and agents at the time of the conclusion of the sale. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.