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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities    
Net Income $ 120,524 $ 41,271
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Net (Gains) Losses on Investments, Marketable Securities and Contingent Consideration 1,135 198
Equity Method Investments 2,698 4,251
Equity-Based and Other Deferred Compensation 99,237 124,348
Impairment of Goodwill and Equity Method Investments 21,507 0
Depreciation, Amortization and Accretion 11,969 13,067
Bad Debt Expense 1,140 554
Deferred Taxes (6,425) (958)
Decrease (Increase) in Operating Assets:    
Marketable Securities 367 339
Financial Instruments Owned and Pledged as Collateral at Fair Value 3,876 27,417
Securities Purchased Under Agreements to Resell (4,674) (20,468)
Accounts Receivable 48,588 (17,790)
Receivable from Employees and Related Parties (1,019) 3,027
Other Assets 8,495 (7,671)
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (128,598) (148,263)
Accounts Payable and Accrued Expenses (1,534) (6,753)
Securities Sold Under Agreements to Repurchase 777 (7,011)
Payables to Employees and Related Parties 11,107 3,598
Taxes Payable (18,266) (6,906)
Other Liabilities (15,739) 11,305
Net Cash Provided by Operating Activities 155,165 13,555
Cash Flows From Investing Activities    
Investments Purchased (49) (1,529)
Distributions of Private Equity Investments 514 107
Marketable Securities:    
Proceeds from Sales and Maturities 23,124 18,260
Purchases (14,736) (43,820)
Assets Held for Sale 0 (906)
Purchase of Furniture, Equipment and Leasehold Improvements (16,804) (4,732)
Net Cash Provided by (Used in) Investing Activities (7,951) (32,620)
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 110 885
Distributions to Noncontrolling Interests (15,944) (17,193)
Cash Paid for Deferred and Contingent Consideration 0 (5,050)
Short-Term Borrowing 30,000 50,000
Repayment of Short-Term Borrowing (30,000) (50,000)
Repayment of Subordinated Borrowings (9,751) (6,000)
Payment of Notes Payable - Mizuho 0 (120,000)
Issuance of Notes Payable 0 170,000
Debt Issuance Costs 0 (2,084)
Purchase of Treasury Stock and Noncontrolling Interests (240,377) (166,261)
Dividends - Class A Stockholders (29,510) (24,397)
Net Cash Provided by (Used in) Financing Activities (295,472) (170,100)
Effect of Exchange Rate Changes on Cash (54) (12,329)
Net Increase (Decrease) in Cash and Cash Equivalents (148,312) (201,494)
Cash and Cash Equivalents-Beginning of Period 558,524 448,764
Cash and Cash Equivalents-End of Period 410,212 247,270
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 9,322 4,757
Payments for Income Taxes 66,963 50,131
Accrued Dividends 4,714 3,870
Settlement of Contingent Consideration $ 10,780 $ 0