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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net Income $ 286,988 $ 329,480
Adjustments to Reconcile Net Income to Net Cash Provided by (Used In) Operating Activities:    
Net (Gains) Losses on Investments, Investment Securities and Contingent Consideration 28,678 (22,193)
Equity Method Investments, Including Gain on Sale 3,968 5,038
Equity-Based and Other Deferred Compensation 238,641 202,186
Noncash Lease Expense 18,760 20,311
Depreciation, Amortization and Accretion 14,386 14,129
Bad debt expense, net of reversals 1,503 (1,766)
Deferred Taxes (8,369) 3,982
Decrease (Increase) in Operating Assets:    
Investment Securities (528) (1,946)
Accounts Receivable 21,713 42,638
Receivable from Employees and Related Parties 3,917 4,558
Other Assets (67,406) (20,482)
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (705,445) (359,317)
Accounts Payable and Accrued Expenses 5,865 6,001
Payables to Employees and Related Parties 25,801 23,791
Taxes Payable (16,531) (10,537)
Other Liabilities (20,561) (121,415)
Net Cash Provided by (Used In) Operating Activities (168,620) 114,458
Cash Flows From Investing Activities    
Investments Purchased 0 (1,355)
Proceeds from Redemption of G5 Debt Security in 2021 and Sale of Investments in 2022 18,300 11,779
Distributions of Private Equity Investments 27 171
Investment Securities:    
Proceeds from Sales and Maturities of Investment Securities 1,703,871 992,836
Purchases of Investment Securities (1,078,819) (852,579)
Maturity of Certificates of Deposit 138,305 0
Purchase of Certificates of Deposit (154,640) (122,510)
Purchase of Furniture, Equipment and Leasehold Improvements (11,449) (16,374)
Net Cash Provided by Investing Activities 615,595 11,968
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 300 1,107
Distributions to Noncontrolling Interests (32,541) (29,642)
Payment of Notes Payable (67,000) (38,000)
Issuance of Notes Payable 67,000 38,000
Debt Issuance Costs and Make-Whole Amount (1,641) (355)
Purchase of Treasury Stock and Noncontrolling Interests (457,068) (423,188)
Dividends (70,868) (65,139)
Net Cash Provided by (Used in) Financing Activities (561,818) (517,217)
Effect of Exchange Rate Changes on Cash (19,056) 3,558
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (133,899) (387,233)
Cash, Cash Equivalents and Restricted Cash – Beginning of Period 587,293 838,224
Cash, Cash Equivalents and Restricted Cash – End of Period 453,394 450,991
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 9,164 8,912
Payments for Income Taxes 140,187 70,772
Accrued Dividends 8,362 7,096
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 $ 185 $ 0