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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash Flows From Operating Activities      
Net Income $ 57,690 $ 107,371 $ 72,022
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Net (Gains) Losses on Investments, Marketable Securities and Contingent Consideration 5,517 (2,505) (2,172)
Equity Method Investments 2,818 4,476 (1,454)
Equity-Based and Other Deferred Compensation 207,533 111,771 121,608
Impairment of Goodwill 28,500 0 0
Depreciation, Amortization and Accretion 29,636 18,773 16,699
Bad Debt Expense 1,314 1,027 2,099
Adjustment to Tax Receivable Agreements 0 0 (6,905)
Deferred Taxes (3,627) 14,315 20,058
Decrease (Increase) in Operating Assets:      
Marketable Securities 556 550 234
Financial Instruments Owned and Pledged as Collateral at Fair Value 46,018 (54,032) 65,045
Securities Purchased Under Agreements to Resell 4,726 10,303 (19,578)
Accounts Receivable (46,442) (51,166) 1,460
Receivable from Employees and Related Parties (3,937) (6,646) (4,542)
Other Assets (3,903) (7,651) (19,945)
(Decrease) Increase in Operating Liabilities:      
Accrued Compensation and Benefits 51,732 27,251 12,435
Accounts Payable and Accrued Expenses 5,418 6,231 258
Securities Sold Under Agreements to Repurchase (50,803) 43,771 (45,543)
Payables to Employees and Related Parties 8,704 (2,601) 4,451
Taxes Payable 17,850 (2,650) (15,591)
Other Liabilities (2,449) (2,616) (1,925)
Net Cash Provided by Operating Activities 356,851 215,972 198,714
Cash Flows From Investing Activities      
Investments Purchased (819) (10,944) (3,012)
Distributions of Private Equity Investments 6,821 672 1,300
Marketable Securities:      
Proceeds from Sales and Maturities 32,318 34,719 31,106
Purchases (39,101) (28,760) (35,187)
Cash Paid for Acquisitions and Deconsolidation of Atalanta Sosnoff, net of Cash Acquired (5,647) 42,869 218
Proceeds from Sale of Business 0 0 1,198
Loans Receivable (3,500) 0 0
Purchase of Furniture, Equipment and Leasehold Improvements (16,189) (13,521) (4,487)
Net Cash Provided by (Used in) Investing Activities (26,117) 25,035 (8,864)
Cash Flows From Financing Activities      
Issuance of Noncontrolling Interests 594 2,135 3,589
Distributions to Noncontrolling Interests (23,723) (10,655) (18,950)
Payments Under Tax Receivable Agreement (11,045) (9,086) (7,651)
Cash Paid for Deferred and Contingent Consideration 0 (2,255) (3,396)
Short-Term Borrowing 45,000 75,000 0
Repayment of Short-Term Borrowing (45,000) (75,000) 0
Proceeds from Warrant Exercises 6,416 0 0
Purchase of Treasury Stock and Noncontrolling Interests (160,733) (156,242) (102,277)
Excess Tax Benefits Associated with Equity-Based Awards 10,820 35,262 8,979
Dividends - Class A Stockholders (46,132) (38,754) (30,090)
Net Cash Provided by (Used in) Financing Activities (223,803) (179,595) (149,796)
Effect of Exchange Rate Changes on Cash (10,327) (7,705) (1,032)
Net Increase in Cash and Cash Equivalents 96,604 53,707 39,022
Cash and Cash Equivalents-Beginning of Period 352,160 298,453 259,431
Cash and Cash Equivalents-End of Period 448,764 352,160 298,453
SUPPLEMENTAL CASH FLOW DISCLOSURE      
Payments for Interest 16,035 13,725 12,807
Payments for Income Taxes 47,820 18,283 57,178
Increase (Decrease) in Fair Value of Redeemable Noncontrolling Interest (1,331) 3,261 (12,985)
Dividend Equivalents Issued 6,514 6,038 5,989
Receipt of Securities in Settlement of Accounts Receivable 1,079 2,083 2,278
Contingent Consideration Accrued 13,699 1,979 0
Value of Noncash Assets Deconsolidated 2,053 0 0
Value of Liabilities Deconsolidated 2,074 0 0
Decrease in Redeemable Noncontrolling Interest 2,683 0 0
Decrease in Noncontrolling Interest 16,090 0 0
Decrease in Goodwill 27,274 0 0
Decrease in Intangible Assets 13,924 0 0
Notes Reduction 118,347 0 0
Purchase of Treasury Stock in Exchange for Notes Issuance and Warrant Proceeds 123,673 0 0
Settlement of Contingent Consideration 0 7,232 2,494
Purchase of Noncontrolling Interest 0 7,100 0
Reclassification from Redeemable Noncontrolling Interest to Noncontrolling Interest 0 27,477 0
Shares and LP Units Issued as Consideration for Acquisitions and Investments 0 79,576 0
Assets Acquired in Acquisitions 0 106,848 0
Liabilities Assumed in Acquisitions 0 64,864 0
Notes Exchanged for Equity in Subsidiary $ 0 $ 0 $ 1,042