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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:          
Consolidated net income $ 37,910 $ 163,255 $ 100,420 $ 793,025  
Adjustments to reconcile net income to net cash (used in) provided by operating activities:          
Gain on originated mortgage servicing rights     (98,378) (98,820)  
Depreciation and amortization 44,359 28,883 118,758 80,804  
Nasdaq earn-out recognition     0 (1,108,012)  
Provision/(reversals) for/of credit losses on the financial guarantee liability     588 (5,226)  
Provision for doubtful accounts     5,538 4,597  
Equity-based compensation and allocation of net income to limited partnership units and FPUs     102,974 315,742  
Employee loan amortization     60,974 53,993  
Deferred tax (benefit) provision     (94) 1,084  
Non-cash changes in acquisition related earn-outs     1,173 973  
Unrealized (gains) on loans held for sale     36,271 (15,810)  
Unrealized (gains) on investments     0 (27,825)  
Realized loss (gain) on marketable securities     7,470 (16,472)  
Unrealized loss (gain) on marketable securities     80,413 (41,485)  
Unrealized loss (gains) on non-marketable investments     13,944 (2,531)  
Change in valuation of derivative asset     0 12,183  
Loan originations—loans held for sale     (5,803,501) (5,997,086)  
Loan sales—loans held for sale     5,858,850 5,899,509  
Other     1,650 2,670  
Consolidated net income, adjusted for non-cash and non-operating items     487,050 (148,687)  
Changes in operating assets and liabilities:          
Receivables, net     59,518 (135,300)  
Loans, forgivable loans and other receivables from employees and partners     (100,591) (49,469)  
Right of use asset     (1,743) 5,318  
Receivable from related parties     8,262 0  
Other assets     (53,238) 62,812  
Accrued compensation     (102,376) (119,304)  
Right of use liability     11,713 (3,360)  
Accounts payable, accrued expenses and other liabilities     (40,793) 64,482  
Payables to related parties     (3,067) (3,049)  
Net cash provided by operating activities     264,735 (326,557)  
CASH FLOWS FROM INVESTING ACTIVITIES:          
Payments for acquisitions, net of cash acquired     (64,247) (58,933)  
Proceeds from the sale of marketable securities     437,820 495,703  
Purchase of marketable securities     (32) 0  
Purchase of non-marketable investments     (2,723) (1,500)  
Purchases of fixed assets     (40,015) (11,282)  
Net cash provided by investing activities     330,803 423,988  
CASH FLOWS FROM FINANCING ACTIVITIES:          
Proceeds from warehouse facilities     5,803,501 5,997,086  
Principal payments on warehouse facilities     (5,837,842) (5,873,958)  
Proceeds from the sale of limited partnership interests     0 4,025  
Borrowing of debt     0 55,000  
Repayment of debt     0 (195,000)  
Repurchase agreements and securities loaned     (140,007) 106,722  
Redemption and repurchase of limited partnership interests     0 (2,321)  
Treasury stock repurchases     (281,193) (139,334)  
Earnings and tax distributions to limited partnership interests and other noncontrolling interests     (74,713) (14,370)  
Dividends to stockholders     (12,753) (5,696)  
Payments on acquisition earn-outs     (6,453) (41,329)  
Deferred financing costs     (5,040) (1,450)  
Net cash used in financing activities     (554,500) (110,625)  
Net increase in cash and cash equivalents and restricted cash     41,038 (13,194)  
Cash and cash equivalents and restricted cash at beginning of period     266,500 258,399 $ 258,399
Cash and cash equivalents and restricted cash at end of period $ 307,538 $ 245,205 307,538 245,205 $ 266,500
Cash paid during the period for:          
Interest     20,642 19,157  
Taxes     86,513 38,139  
Supplemental disclosure of non-cash operating, investing and financing activities:          
Right-of-use assets and liabilities     $ 87,449 $ 511,056