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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities    
Net Income $ 180,606 $ 88,554
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:    
Net (Gains) Losses on Investments, Marketable Securities and Contingent Consideration 239 3,565
Equity Method Investments 1,863 4,118
Equity-Based and Other Deferred Compensation 163,094 177,812
Impairment of Goodwill and Equity Method Investments 21,507 0
Depreciation, Amortization and Accretion 18,453 19,033
Bad Debt Expense 2,547 1,966
Deferred Taxes (1,849) (2,509)
Decrease (Increase) in Operating Assets:    
Marketable Securities 707 680
Financial Instruments Owned and Pledged as Collateral at Fair Value (1,526) 20,621
Securities Purchased Under Agreements to Resell 2,910 (11,584)
Accounts Receivable 23,423 23,414
Receivable from Employees and Related Parties (2,102) 1,700
Other Assets 9,391 (12,991)
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (52,481) (49,915)
Accounts Payable and Accrued Expenses (96) (9,140)
Securities Sold Under Agreements to Repurchase (1,405) (9,070)
Payables to Employees and Related Parties 471 (2,639)
Taxes Payable (18,471) 10,641
Other Liabilities (21,624) (3,855)
Net Cash Provided by Operating Activities 325,657 250,401
Cash Flows From Investing Activities    
Investments Purchased (857) (1,529)
Distributions of Private Equity Investments 1,140 107
Marketable Securities:    
Proceeds from Sales and Maturities 38,436 29,482
Purchases (22,347) (52,851)
Purchase of Certificates of Deposit (63,417) 0
Cash Paid for Acquisitions and Deconsolidation of Cash, net of Cash Acquired 0 (2,877)
(Increase) Decrease in Restricted Cash 0 (5,385)
Purchase of Furniture, Equipment and Leasehold Improvements (25,142) (8,511)
Net Cash Provided by (Used in) Investing Activities (72,187) (41,564)
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 110 885
Distributions to Noncontrolling Interests (26,315) (25,519)
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 (301,001) (168,260)
Dividends - Class A Stockholders (40,723) (37,693)
Net Cash Provided by (Used in) Financing Activities (377,680) (193,721)
Effect of Exchange Rate Changes on Cash 5,541 (17,851)
Net Increase (Decrease) in Cash and Cash Equivalents (118,669) (2,735)
Cash and Cash Equivalents-Beginning of Period 558,524 448,764
Cash and Cash Equivalents-End of Period 439,855 446,029
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 16,745 11,553
Payments for Income Taxes 88,865 75,213
Accrued Dividends 7,054 5,781
Settlement of Contingent Consideration $ 10,780 $ 0