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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 208,412 $ (128,801)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization of deferred expenses and share-based incentive compensation 377,066 353,698
Noncash lease expense 49,903 47,641
Depreciation and amortization of property 27,284 32,177
Currency translation adjustment reclassification 0 2,157
Amortization and other acquisition-related costs 189 239
Deferred tax benefit (34,209) (100,744)
Benefit pursuant to tax receivable agreement 0 (40,435)
Gain on sale of property (114,271) 0
Impairment of equity method investments and other receivables 0 22,981
Impairment of assets associated with cost-saving initiatives 0 8,561
Loss on LGAC liquidation 0 17,929
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:    
Receivables-net 85,812 18,470
Investments 66,402 (100,714)
Other assets (87,375) (25,157)
Accrued compensation and benefits and other liabilities (199,239) (284,936)
Net cash provided by (used in) operating activities 379,974 (176,934)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property (30,625) (19,505)
Proceeds from sale of property 194,283 0
Purchase of equity method investment (17,488) 0
Purchase of debt securities (98,350) 0
Proceeds from sales and maturities of debt securities 50,000 0
Other disposals of property 1,995 352
Acquisition of business, net of cash acquired 0 (10,516)
Net cash provided by (used in) investing activities 99,815 (29,669)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from (payments for) customer deposits, net (42,610) (466,658)
Proceeds from:    
Issuance of senior debt, net of expenses 396,010 0
Contributions from noncontrolling interests 1,989 1,248
Payments for:    
Extinguishment of senior debt (233,073) 0
Distributions to noncontrolling interests (3,976) (5,068)
Tax receivable agreement (30,950) (32,208)
Distribution to redeemable noncontrolling interests in connection with LGAC redemption 0 (585,891)
Purchase of common stock (43,928) (102,051)
Common stock dividends (133,823) (129,367)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements (64,189) (53,924)
LFI Consolidated Funds redemptions (39,074) (36,816)
Other financing activities (12,172) (10,186)
Net cash used in financing activities (205,796) (1,420,921)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 14,763 (5,101)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 288,756 (1,632,625)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1 1,224,983 2,639,400
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—September 30 $ 1,513,739 $ 1,006,775