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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Cash Flows From Operating Activities    
Net Income $ 27,714 $ 68,262
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Net (Gains) Losses on Investments, Marketable Securities and Contingent Consideration 3,411 (904)
Equity Method Investments 3,304 5,620
Equity-Based and Other Deferred Compensation 155,174 82,857
Impairment of Goodwill 28,000 0
Depreciation, Amortization and Accretion 22,821 12,716
Bad Debt Expense 1,214 1,582
Deferred Taxes (2,920) 15,984
Decrease (Increase) in Operating Assets:    
Marketable Securities 342 400
Financial Instruments Owned and Pledged as Collateral at Fair Value 36,728 (40,853)
Securities Purchased Under Agreements to Resell 6,870 13,803
Accounts Receivable (30,743) (24,583)
Receivable from Employees and Related Parties (1,532) (2,973)
Other Assets (7,570) (29,279)
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (69,590) (47,708)
Accounts Payable and Accrued Expenses 1,216 11,638
Securities Sold Under Agreements to Repurchase (43,713) 27,050
Payables to Employees and Related Parties 10,097 (6,998)
Taxes Payable 1,669 (4,145)
Other Liabilities 350 6,782
Net Cash Provided by Operating Activities 142,842 89,251
Cash Flows From Investing Activities    
Investments Purchased (235) (10,783)
Distributions of Private Equity Investments 6,752 216
Marketable Securities:    
Proceeds from Sales and Maturities 25,295 31,999
Purchases (30,859) (16,549)
Cash Paid for Acquisitions, net of Cash Acquired (3,253) 0
Loans Receivable (3,500) 0
Purchase of Furniture, Equipment and Leasehold Improvements (12,855) (10,223)
Net Cash Provided by (Used in) Investing Activities (18,655) (5,340)
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 373 2,135
Distributions to Noncontrolling Interests (15,059) (8,553)
Cash Paid for Deferred and Contingent Consideration 0 (2,255)
Short-Term Borrowing 45,000 75,000
Repayment of Short-Term Borrowing (45,000) (75,000)
Purchase of Treasury Stock and Noncontrolling Interests (152,788) (137,443)
Excess Tax Benefits Associated with Equity-Based Awards 9,905 33,045
Dividends - Class A Stockholders (33,794) (27,911)
Net Cash Provided by (Used in) Financing Activities (191,363) (140,982)
Effect of Exchange Rate Changes on Cash (6,839) (2,313)
Net Increase (Decrease) in Cash and Cash Equivalents (74,015) (59,384)
Cash and Cash Equivalents-Beginning of Period 352,160 298,453
Cash and Cash Equivalents-End of Period 278,145 239,069
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 14,062 11,518
Payments for Income Taxes 29,327 14,640
Increase (Decrease) in Fair Value of Redeemable Noncontrolling Interest (1,379) 14,616
Dividend Equivalents Issued 4,814 4,481
Settlement of Contingent Consideration 0 7,232
Receipt of Securities in Settlement of Accounts Receivable 1,079 2,083
Purchase of Noncontrolling Interest 0 7,100
Contingent Consideration Accrued 10,787 2,162
Reclassification from Redeemable Noncontrolling Interest to Noncontrolling Interest $ 0 $ 31,268