XML 17 R7.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net Income $ 92,241 $ 177,094
Adjustments to Reconcile Net Income to Net Cash Provided by (Used In) Operating Activities:    
Net (Gains) Losses on Investments, Investment Securities and Contingent Consideration (9,509) 4,456
Equity Method Investments, Including Gain on Sale (890) (786)
Equity-Based and Other Deferred Compensation 130,242 117,524
Noncash Lease Expense 11,045 10,094
Depreciation, Amortization and Accretion, net 5,287 7,219
Bad Debt Expense 3,734 (519)
Deferred Taxes (2,514) (1,942)
Decrease (Increase) in Operating Assets:    
Investment Securities 1,676 (21)
Accounts Receivable 83,422 36,230
Receivable from Employees and Related Parties 1,268 1,460
Other Assets 82,271 (14,980)
(Decrease) Increase in Operating Liabilities:    
Accrued Compensation and Benefits (767,197) (839,975)
Accounts Payable and Accrued Expenses (1,132) 373
Payables to Employees and Related Parties 4,788 28,261
Taxes Payable (6,217) (4,462)
Other Liabilities (13,252) (6,246)
Net Cash Provided by (Used in) Operating Activities (384,737) (486,220)
Cash Flows From Investing Activities    
Investments Purchased (37) 0
Proceeds from Sale of Investments 0 18,300
Distributions of Private Equity Investments 72 20
Investment Securities:    
Proceeds from Sales and Maturities of Investment Securities 1,409,643 1,325,038
Purchases of Investment Securities (851,103) (626,283)
Maturity of Certificates of Deposit 82,759 67,796
Purchase of Certificates of Deposit (5,222) (85,843)
Purchase of Furniture, Equipment and Leasehold Improvements (4,858) (5,491)
Net Cash Provided by Investing Activities 631,254 693,537
Cash Flows From Financing Activities    
Issuance of Noncontrolling Interests 0 300
Distributions to Noncontrolling Interests (9,202) (4,740)
Purchase of Treasury Stock and Noncontrolling Interests (286,592) (283,126)
Dividends (41,193) (41,619)
Net Cash Provided by (Used in) Financing Activities (336,987) (329,185)
Effect of Exchange Rate Changes on Cash 6,472 (1,531)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash (83,998) (123,399)
Cash, Cash Equivalents and Restricted Cash – Beginning of Period 672,123 587,293
Cash, Cash Equivalents and Restricted Cash – End of Period 588,125 463,894
SUPPLEMENTAL CASH FLOW DISCLOSURE    
Payments for Interest 1,790 3,542
Payments for Income Taxes 33,255 36,867
Accrued Dividends 4,205 4,128
Amounts Due for Purchase of Noncontrolling Interest 0 1,448
Settlement of Sale of Trilantic VI $ 0 $ 9,188