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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows From Operating Activities    
Net Income $ 41,271 $ 22,279
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:    
Net (Gains) Losses on Investments, Marketable Securities and Contingent Consideration 198 2,313
Equity Method Investments 4,251 3,118
Equity-Based and Other Deferred Compensation 124,348 106,139
Depreciation, Amortization and Accretion 13,067 13,846
Bad Debt Expense 554 141
Deferred Taxes (958) 9,557
Decrease (Increase) in Operating Assets:    
Marketable Securities 339 310
Financial Instruments Owned and Pledged as Collateral at Fair Value 27,417 48,004
Securities Purchased Under Agreements to Resell (20,468) (26,962)
Accounts Receivable (17,790) 9,618
Receivable from Employees and Related Parties 3,027 195
Other Assets (7,671) (18,618)
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (148,263) (113,581)
Accounts Payable and Accrued Expenses (6,753) (963)
Securities Sold Under Agreements to Repurchase (7,011) (21,135)
Payables to Employees and Related Parties 3,598 12,062
Taxes Payable (11,291) 448
Other Liabilities 11,305 (437)
Net Cash Provided by Operating Activities 9,170 46,334
Cash Flows From Investing Activities    
Investments Purchased (1,529) (224)
Distributions of Private Equity Investments 107 6,593
Marketable Securities:    
Proceeds from Sales and Maturities 18,260 20,369
Purchases (43,820) (15,704)
Loans Receivable 0 (3,500)
Cash Classified in Assets Held for Sale (906) 0
Purchase of Furniture, Equipment and Leasehold Improvements (4,732) (7,695)
Net Cash Provided by (Used in) Investing Activities (32,620) (161)
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 885 307
Purchase of Noncontrolling Interests (6,482) 0
Distributions to Noncontrolling Interests (17,193) (10,291)
Cash Paid for Deferred and Contingent Consideration (5,050) 0
Short-Term Borrowing 50,000 45,000
Repayment of Short-Term Borrowing (50,000) (45,000)
Repayment of Subordinated Borrowings (6,000) 0
Payment of Notes Payable - Mizuho (120,000) 0
Issuance of Notes Payable 170,000 0
Debt Issuance Costs (2,084) 0
Purchase of Treasury Stock (159,779) (123,639)
Excess Tax Benefits Associated with Equity-Based Awards 4,385 8,877
Dividends - Class A Stockholders (24,397) (22,703)
Net Cash Provided by (Used in) Financing Activities (165,715) (147,449)
Effect of Exchange Rate Changes on Cash (12,329) (805)
Net Increase (Decrease) in Cash and Cash Equivalents (201,494) (102,081)
Cash and Cash Equivalents-Beginning of Period 448,764 352,160
Cash and Cash Equivalents-End of Period 247,270 250,079
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 4,757 8,661
Payments for Income Taxes 50,131 16,841
Increase (Decrease) in Fair Value of Redeemable Noncontrolling Interest 0 (610)
Dividend Equivalents Issued 3,870 3,295
Receipt of Securities in Settlement of Accounts Receivable 0 1,079
Purchase of Noncontrolling Interest $ 0 $ 1,123