XML 21 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 61,989 $ 40,224
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Amortization of deferred expenses and share-based incentive compensation 104,166 121,478
Noncash lease expense 15,844 16,278
Depreciation and amortization of property 8,443 9,134
Deferred tax benefit (26,088) (12,836)
Other adjustments (5,204) 0
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:    
Receivables-net 88,373 6,694
Investments 96,393 62,208
Other assets 19,300 (88,231)
Accrued compensation and benefits and other liabilities (580,742) (244,935)
Net cash used in operating activities (217,526) (89,986)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property (13,824) (6,619)
Disposals of property 0 12
Other investing activities (8,869) 0
Net cash used in investing activities (22,693) (6,607)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from (payments for) customer deposits, net 6,197 90,815
Proceeds from:    
Issuance of senior debt, net of expenses 0 396,000
Contributions from noncontrolling interests 100 181
Payments for:    
Extinguishment of senior debt 0 (233,073)
Distributions to noncontrolling interests (4) (1,189)
Purchase of common stock (36,165) (22,005)
Common stock dividends (44,950) (43,715)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements (93,780) (55,632)
LFI Consolidated Funds redemptions (14,368) (26,217)
Other financing activities (8,604) (6,678)
Net cash provided by (used in) financing activities (191,574) 98,487
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 30,207 (22,225)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (401,586) (20,331)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1 1,609,368 1,224,983
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—March 31 $ 1,207,782 $ 1,204,652