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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net Income $ 177,094 $ 165,551
Adjustments to Reconcile Net Income to Net Cash Provided by (Used In) Operating Activities:    
Net (Gains) Losses on Investments, Investment Securities and Contingent Consideration 4,456 (7,605)
Equity Method Investments, Including Gain on Sale (786) 349
Equity-Based and Other Deferred Compensation 117,524 94,211
Noncash Lease Expense 10,094 10,058
Depreciation, Amortization and Accretion 7,219 6,751
Bad Debt Expense (519) (1,738)
Deferred Taxes (1,942) 4,502
Decrease (Increase) in Operating Assets:    
Investment Securities (21) (1,950)
Accounts Receivable 36,230 14,265
Receivable from Employees and Related Parties 1,460 523
Other Assets (14,980) 17,550
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (839,975) (535,197)
Accounts Payable and Accrued Expenses 373 2,397
Payables to Employees and Related Parties 28,261 22,736
Taxes Payable (4,462) (13,537)
Other Liabilities (6,246) (108,977)
Net Cash Provided by (Used In) Operating Activities (486,220) (330,111)
Cash Flows From Investing Activities    
Investments Purchased 0 (159)
Proceeds from Sale of Investments 18,300 0
Distributions of Private Equity Investments 20 5
Investment Securities:    
Proceeds from Sales and Maturities of Investment Securities 1,325,038 888,534
Purchases of Investment Securities (626,283) (616,624)
Maturity of Certificates of Deposit 67,796 0
Purchase of Certificates of Deposit (85,843) (73,877)
Purchase of Furniture, Equipment and Leasehold Improvements (5,491) (7,714)
Net Cash Provided by Investing Activities 693,537 190,165
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 300 1,107
Distributions to Noncontrolling Interests (4,740) (12,894)
Payment of Notes Payable 0 (38,000)
Issuance of Notes Payable 0 38,000
Purchase of Treasury Stock and Noncontrolling Interests (283,126) (231,296)
Dividends (41,619) (37,414)
Net Cash Provided by (Used in) Financing Activities (329,185) (280,497)
Effect of Exchange Rate Changes on Cash (1,531) 1,816
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (123,399) (418,627)
Cash, Cash Equivalents and Restricted Cash – Beginning of Period 587,293 838,224
Cash, Cash Equivalents and Restricted Cash – End of Period 463,894 419,597
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 3,542 4,469
Payments for Income Taxes 36,867 27,331
Accrued Dividends 4,128 3,411
Amounts Due for Purchase of Noncontrolling Interest 1,448 3,170
Settlement of Sale of Trilantic VI 9,188 0
Receipt of Equity Securities in Settlement of Accounts Receivable 0 1,955
Debt Issuance Costs Accrued $ 0 $ 355