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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Flows From Operating Activities      
Net Income $ 868,573 $ 412,680 $ 353,661
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:      
Net (Gains) Losses on Investments and Investment Securities (24,227) (8,681) (13,750)
Equity Method Investments 1,105 (1,636) 403
Equity-Based and Other Deferred Compensation 422,210 367,438 360,341
Net Loss on Sale and Wind-down of Operations in Mexico in 2020 and Release of Cumulative Foreign Exchange Losses 1,250 35,247 0
Impairment of Goodwill 0 0 2,921
Noncash Lease Expense 40,761 38,626 29,259
Depreciation, Amortization and Accretion 28,655 30,002 35,730
Bad Debt Expense (60) 6,878 10,451
Deferred Taxes 29,078 13,824 (10,503)
Decrease (Increase) in Operating Assets:      
Investment Securities (1,960) 3,559 (491)
Financial Instruments Owned and Pledged as Collateral at Fair Value 0 (1,516) 10,629
Securities Purchased Under Agreements to Resell 0 (399) (10,541)
Accounts Receivable 16,028 (78,573) 5,241
Receivable from Employees and Related Parties (1,622) (1,170) 1,450
Other Assets (4,649) (19,043) (58,962)
(Decrease) Increase in Operating Liabilities:      
Accrued Compensation and Benefits 191,223 82,364 (180,767)
Accounts Payable and Accrued Expenses (5,497) (796) (745)
Securities Sold Under Agreements to Repurchase 0 1,935 (115)
Payables to Employees and Related Parties 6,065 (7,980) (599)
Taxes Payable 5,634 11,946 (30,221)
Other Liabilities (187,669) 93,666 1,305
Net Cash Provided by Operating Activities 1,384,898 978,371 504,697
Cash Flows From Investing Activities      
Investments Purchased (6,660) (143) (3,843)
Proceeds from Redemption and Sale of Investments 20,967 0 0
Distributions of Private Equity Investments 827 650 1,893
Investment Securities:      
Proceeds from Sales and Maturities of Investment Securities and Futures Contracts Activity 2,669,500 555,624 510,151
Purchases of Investment Securities and Futures Contracts Activity (3,219,975) (1,201,617) (698,995)
Maturity of Certificates of Deposit 121,912 214,266 100,000
Purchase of Certificates of Deposit (264,492) 0 (211,861)
Purchase of Furniture, Equipment and Leasehold Improvements (27,971) (53,330) (70,816)
Proceeds from Sale of Business, Net of Cash Sold 0 679 0
Net Cash Provided by (Used in) Investing Activities (705,892) (483,871) (373,471)
Cash Flows From Financing Activities      
Issuance of Noncontrolling Interests 2,179 540 600
Distributions to Noncontrolling Interests (67,865) (44,915) (54,706)
Payments Under Tax Receivable Agreement (10,825) (9,425) (9,490)
Short-Term Borrowings 0 0 30,000
Repayment of Short-Term Borrowings 0 0 (30,000)
Payment of Notes Payable (38,000) 0 0
Issuance of Notes Payable 38,000 0 205,718
Debt Issuance Costs (355) 0 (2,032)
Purchase of Treasury Stock and Noncontrolling Interests (729,693) (147,411) (333,296)
Dividends (118,762) (106,582) (96,803)
Net Cash Provided by (Used in) Financing Activities (925,321) (307,793) (290,009)
Effect of Exchange Rate Changes on Cash (4,616) 7,631 2,573
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (250,931) 194,338 (156,210)
Cash, Cash Equivalents and Restricted Cash – Beginning of Period 838,224 643,886 800,096
Cash, Cash Equivalents and Restricted Cash – End of Period 587,293 838,224 643,886
SUPPLEMENTAL CASH FLOW DISCLOSURE      
Payments for Interest 17,332 23,748 16,405
Payments for Income Taxes 191,970 111,319 155,478
Accrued Dividends 14,332 13,734 14,642
Amounts Due for Purchase of Noncontrolling Interest 48,297 851 0
Noncash Purchase of Noncontrolling Interest 0 0 2,701
Receipt of Equity Securities in Settlement of Accounts Receivable $ 1,955 $ 0 $ 0