XML 18 R7.htm IDEA: XBRL DOCUMENT v3.8.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows From Operating Activities    
Net Income $ 109,736 $ 94,647
Adjustments to Reconcile Net Income to Net Cash Provided by (Used in) Operating Activities:    
Net (Gains) Losses on Investments, Marketable Securities and Contingent Consideration (210) (1,000)
Equity Method Investments (384) (582)
Equity-Based and Other Deferred Compensation 67,626 28,683
Depreciation, Amortization and Accretion 6,712 5,860
Bad Debt Expense 1,025 351
Deferred Taxes (438) (1,362)
Decrease (Increase) in Operating Assets:    
Marketable Securities (101) 147
Financial Instruments Owned and Pledged as Collateral at Fair Value (972) (13,175)
Securities Purchased Under Agreements to Resell 799 12,284
Accounts Receivable (37,303) 30,415
Receivable from Employees and Related Parties (3,708) (3,017)
Other Assets 614 5,164
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (177,635) (207,556)
Accounts Payable and Accrued Expenses 2,468 (2,696)
Securities Sold Under Agreements to Repurchase 169 883
Payables to Employees and Related Parties 13,640 9,095
Taxes Payable (11,988) (18,673)
Other Liabilities (10,735) (20,674)
Net Cash Provided by (Used in) Operating Activities (40,685) (81,206)
Cash Flows From Investing Activities    
Investments Purchased 0 (1)
Distributions of Private Equity Investments 270 378
Marketable Securities:    
Proceeds from Sales and Maturities 23,347 12,145
Purchases (54,840) (7,583)
Maturity of Certificates of Deposit 63,527 0
Purchase of Furniture, Equipment and Leasehold Improvements (4,151) (6,417)
Net Cash Provided by (Used in) Investing Activities 28,153 (1,478)
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 60 60
Distributions to Noncontrolling Interests (13,193) (8,601)
Short-Term Borrowing 30,000 30,000
Repayment of Short-Term Borrowing (30,000) (30,000)
Repayment of Subordinated Borrowings (6,700) (6,000)
Purchase of Treasury Stock and Noncontrolling Interests (155,597) (93,454)
Dividends - Class A Stockholders (16,538) (16,035)
Net Cash Provided by (Used in) Financing Activities (191,968) (124,030)
Effect of Exchange Rate Changes on Cash 3,473 (497)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (201,027) (207,211)
Cash, Cash Equivalents and Restricted Cash-Beginning of Period 617,385 575,637
Cash, Cash Equivalents and Restricted Cash-End of Period 416,358 368,426
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 6,868 6,809
Payments for Income Taxes 19,833 44,580
Accrued Dividends 2,631 2,374
Purchase of Noncontrolling Interest 9,164 0
Settlement of Contingent Consideration $ 0 $ 10,780