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Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities:    
Net income $ 157,539 $ 173,549
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 15,076 11,675
Amortization of loans and advances to financial advisors and other employees 34,057 32,849
Amortization of premium on investment portfolio 2,356 3,880
Provision for credit losses and allowance for loans and advances to financial advisors and other employees 4,920 8,240
Amortization of intangible assets 4,437 5,094
Deferred income taxes 13,069 25,732
Stock-based compensation 43,083 45,502
Gains on sale of investments (1,353) (3,799)
Other, net (6,157) (3,666)
Receivables:    
Brokerage clients (34,435) (167,365)
Brokers, dealers, and clearing organizations (39,648) (108,419)
Securities purchased under agreements to resell (201,053) (227,798)
Financial instruments owned, including those pledged (242,050) (122,632)
Loans originated as held for sale (380,033) (236,323)
Proceeds from mortgages held for sale 317,468 202,870
Loans and advances to financial advisors and other employees (40,053) (45,237)
Other assets 218 29,624
Increase/(decrease) in operating liabilities, net of liabilities assumed:    
Brokerage clients 136,855 (62,495)
Brokers, dealers, and clearing organizations 3,369 115,682
Drafts (21,883) (33,389)
Financial instruments sold, but not yet purchased 199,064 185,265
Other liabilities and accrued expenses (349,919) (504,485)
Net cash used in operating activities (385,073) (675,646)
Cash Flows From Investing Activities:    
Principal paydowns, calls, maturities, and sales of available-for-sale securities 47,416 80,221
Calls and principal paydowns of held-to-maturity securities 5,548 102,744
Sale or maturity of investments 0 10,092
Increase in loans held for investment, net (250,052) (1,039,983)
Payments for:    
Purchase of fixed assets (15,411) (12,628)
Purchase of available-for-sale securities (7,551) (1,906)
Purchase of held-to-maturity securities 0 (70,000)
Purchase of investments (10,919) (4,235)
Acquisitions, net of cash received (58,765) 0
Net cash used in investing activities (289,734) (935,695)
Cash Flows From Financing Activities:    
Proceeds from Federal Home Loan Bank advances, net 0 28,000
Payment of contingent consideration (5,037) (5,974)
Increase In Securities Sold Under Agreements To Repurchase 217,715 144,667
Increase in bank deposits, net 1,208,216 915,278
Increase in securities loaned 32,868 223,717
Tax payments related to shares withheld for stock-based compensation plans (74,238) (84,259)
Repurchase of common stock (94,521) 0
Cash dividends on preferred stock (9,320) (9,320)
Cash dividends paid to common stock and equity-award holders (47,009) (36,451)
Net cash provided by financing activities 1,228,674 1,175,658
Effect of exchange rate changes on cash 3,429 10,509
Increase/(decrease) in cash, cash equivalents, and cash segregated for regulatory purposes 557,296 (425,174)
Cash, cash equivalents, and cash segregated for regulatory purposes at beginning of period 2,229,002 2,149,657
Cash, cash equivalents, and cash segregated for regulatory purposes at end of period 2,786,298 1,724,483
Supplemental disclosure of cash flow information:    
Cash paid for income taxes, net of refunds 4,037 9,806
Cash paid for interest 158,201 15,731
Noncash financing activities:    
Unit grants, net of forfeitures $ 143,638 $ 156,069