XML 20 R8.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Dec. 31, 2019
Cash flows from operating activities:          
Net income $ 34,000,000.0 $ 83,000,000.0 $ 110,000,000.0 $ 165,700,000  
Less: Net income attributable to non-controlling interests in consolidated Funds 3,200,000 (7,600,000) (21,300,000) (9,600,000)  
Adjustments to reconcile net income to net cash flows from operating activities from continuing operations:          
Impairment of goodwill 0 0 16,400,000 0 $ 0
Amortization of acquired intangibles 1,600,000 1,600,000 5,100,000 4,900,000  
(Gain) on sale of Affiliate (7,200,000)   (7,200,000)    
Changes in operating assets and liabilities (excluding discontinued operations):          
Net cash flows from operating activities of continuing operations     92,000,000.0 (183,600,000)  
Net cash flows from operating activities of discontinued operations     0 0  
Total net cash flows from operating activities     92,000,000.0 (183,600,000)  
Cash flows from investing activities:          
Net cash flows from investing activities of continuing operations     (60,100,000) (8,800,000)  
Net cash flows from investing activities of discontinued operations     0 0  
Total net cash flows from investing activities     (60,100,000) (8,800,000)  
Cash flows from financing activities:          
Net cash flows from financing activities of continuing operations     (9,000,000.0) (28,400,000)  
Net cash flows from financing activities of discontinued operations     0 0  
Total net cash flows from financing activities     (9,000,000.0) (28,400,000)  
Effect of foreign exchange rate changes on cash and cash equivalents     0 0  
Net increase (decrease) in cash and cash equivalents, including cash classified within assets held for sale     22,900,000 (220,800,000)  
Net increase (decrease) in cash and cash equivalents     9,900,000 (220,800,000)  
Cash and cash equivalents at beginning of period     121,000,000.0 345,500,000 345,500,000
Cash and cash equivalents at end of period (including cash at consolidated Funds classified as restricted) 130,900,000 124,700,000 130,900,000 124,700,000 $ 121,000,000.0
Supplemental disclosure of cash flow information:          
Interest paid (excluding consolidated Funds)     22,300,000 24,800,000  
Income taxes paid     4,100,000 41,600,000  
Consolidated Entity Excluding Consolidated Funds          
Adjustments to reconcile net income to net cash flows from operating activities from continuing operations:          
Impairment of goodwill     16,400,000 0  
Amortization of acquired intangibles 1,600,000 1,600,000 5,100,000 4,900,000  
(Gain) on sale of Affiliate (7,200,000) 0 (7,200,000) 0  
Depreciation and other amortization 5,200,000 4,400,000 15,600,000 12,200,000  
Amortization of debt-related costs     3,200,000 2,600,000  
Amortization and revaluation of non-cash compensation awards     (17,400,000) 6,300,000  
Net earnings from Affiliate accounted for using the equity method     (2,200,000) (2,100,000)  
Distributions received from equity method Affiliate     2,200,000 2,300,000  
Deferred income taxes     30,100,000 7,600,000  
(Gains) losses on other investments     1,700,000 (26,300,000)  
Changes in operating assets and liabilities (excluding discontinued operations):          
Decrease in investment advisory fees receivable     26,200,000 12,200,000  
Increase in other receivables, prepayments, deposits and other assets     (2,600,000) (8,800,000)  
Decrease in accrued incentive compensation, operating lease liabilities and other liabilities     (5,900,000) (262,800,000)  
Decrease in accounts payable, accrued expenses and accrued income taxes     (9,200,000) (54,100,000)  
Net cash flows from operating activities of continuing operations     144,700,000 (149,900,000)  
Purchase of investments     (13,900,000) (18,000,000.0)  
Earnings from equity method investees     (2,200,000) (2,100,000)  
Cash flows from investing activities:          
Additions of fixed assets     (22,500,000) (26,700,000)  
Sale of investments     62,900,000 40,100,000  
Cash flows from financing activities:          
Proceeds from third party and non-recourse borrowings     80,000,000.0 485,000,000.0  
Repayment of third party and non-recourse borrowings     (175,000,000.0) (275,000,000.0)  
Payment for debt issuance costs     0 (1,800,000)  
Payment to OM plc for DTA Deed     0 (32,700,000)  
Payment to OM plc for co-investment redemptions     (300,000) (5,100,000)  
Dividends paid to stockholders     (6,700,000) (18,800,000)  
Dividends paid to related parties     (3,300,000) (8,600,000)  
Repurchases of common stock     (35,300,000) (212,600,000)  
Less: net (increase) in cash classified within Affiliate and Consolidated funds' assets held for sale     (12,200,000) 0  
Consolidated Funds          
Cash flows from operating activities:          
Less: Net income attributable to non-controlling interests in consolidated Funds $ 3,200,000 $ (7,600,000) (21,300,000) (9,600,000)  
Adjustments to reconcile net income to net cash flows from operating activities from continuing operations:          
Net earnings from Affiliate accounted for using the equity method     (28,100,000) (11,200,000)  
(Gains) losses on other investments     11,300,000 6,100,000  
Changes in operating assets and liabilities (excluding discontinued operations):          
Net cash flows from operating activities of continuing operations     (52,700,000) (33,700,000)  
Purchase of investments     (98,200,000) (161,100,000)  
Sale of investments     66,700,000 122,100,000  
Earnings from equity method investees     (28,100,000) (11,200,000)  
(Increase) decrease in receivables and other assets     (28,700,000) 4,800,000  
Increase (decrease) in accounts payable and other liabilities     3,000,000.0 (4,000,000.0)  
Cash flows from investing activities:          
Contributions in equity method investees     (1,900,000) (8,000,000.0)  
Distributions received from equity method investees     1,300,000 3,800,000  
Deconsolidation of Funds     (86,000,000.0) 0  
Cash flows from financing activities:          
Non-controlling interest capital raised     1,900,000 8,000,000.0  
Non-controlling interest capital redeemed     (400,000) (3,100,000)  
Redeemable non-controlling interest capital raised     131,200,000 38,000,000.0  
Redeemable non-controlling interest capital redeemed     (1,100,000) (1,700,000)  
Less: net (increase) in cash classified within Affiliate and Consolidated funds' assets held for sale     (800,000) 0  
Supplemental disclosure of non-cash investing and financing transactions:          
Payable for securities purchased by a consolidated Fund     $ 0 $ 7,400,000