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Consolidated Statements of Cash Flow - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash Flows from Operating Activities:      
Net income $ 48,763 $ 30,671 $ 96,965
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Depreciation expense, intangible asset and other amortization 5,796 6,967 6,759
Stock-based compensation 11,948 11,863 9,778
Excess tax benefit from stock-based compensation (401) (1,586) (24,805)
Amortization of deferred commissions 2,413 7,924 17,907
Payments of deferred commissions (1,887) (3,322) (13,796)
Equity in earnings of equity method investments (1,075) (879) (488)
Realized gain on sale of equity method investment (2,883) 0 0
Realized and unrealized (gains) losses on trading securities, net (2,099) 1,158 (914)
Sales (purchases) of trading securities, net 16,828 8,962 26,742
Loss on disposal of fixed assets 185 0 0
Deferred taxes, net 6,399 6,356 4,394
Change in cash pledged or on deposit of consolidated sponsored investment products      
Change in operating assets (1,695) 10,620 (4,157)
Change in operating liabilities 50 (14,795) 17,754
Net cash provided by (used in) operating activities 30,522 (209,430) (58,871)
Cash Flows from Investing Activities:      
Capital expenditures (2,023) (4,683) (2,432)
Proceeds from sale of equity method investment 8,621 0 0
Equity method investment contributions (2,471) (1,617) (5,000)
Cash acquired in business combination 0 89 0
Purchases of available-for-sale securities (145) (227) (313)
Net cash provided by (used) in investing activities 3,079 (6,438) (8,181)
Cash Flows from Financing Activities:      
Borrowings on credit facility 30,000 0 0
Repurchase of common shares (233,757) (80,000) (40,261)
Dividends paid (13,774) (16,047) (8,182)
Proceeds from exercise of stock options 491 116 753
Taxes paid related to net share settlement of restricted stock units (1,530) (5,080) (9,512)
Excess tax benefits from stock-based compensation 401 1,586 24,805
Payment of deferred financing costs (1,159) (47) 0
Contributions of noncontrolling interests, net 10,904 55,700 28,653
Net cash (used in) provided by financing activities (48,298) 109,948 (1,189)
Net decrease in cash and cash equivalents (14,697) (105,920) (68,241)
Cash and cash equivalents, beginning of year 97,384 203,304 271,545
Cash and Cash Equivalents, end of year 82,687 97,384 203,304
Supplemental Disclosure of Cash Flow Information      
Interest paid 420 266 266
Income taxes paid, net 16,715 31,850 23,274
Supplemental Disclosure of Non-Cash Activities      
Activity related to rabbi trust (499) (247) (843)
Change in accrual for capital expenditures 134 (692) (311)
Dividends payable 2,650 4,233 4,270
Consolidated Sponsored Investment Products [Member]      
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Realized and unrealized (gains) losses on trading securities, net (4,718) 26,532 4,671
Purchases of investments (187,489) (453,247) (382,015)
Sales of investments 274,991 394,552 210,021
Net proceeds (purchases) of short term investments by consolidated sponsored investment products 6,139 (54,495) (23,856)
(Purchases) sales of securities sold short by consolidated sponsored investment products, net (4,520) (1,747) 8,071
Change in cash pledged or on deposit of consolidated sponsored investment products      
Change in cash pledged or on deposit of consolidated sponsored investment products 9,604 (2,604) (10,785)
Change in other assets (777) (2,002) (1,468)
Change in other liabilities 325 2,107 351
Cash Flows from Investing Activities:      
Decrease in cash and cash equivalents due to deconsolidation of sponsored investment products, net (903) 0 (436)
Cash Flows from Financing Activities:      
Borrowings of proceeds from short sales by consolidated sponsored investment products 0 1,473 2,555
Payments on borrowings by consolidated sponsored investment products (3,557) (350) 0
Supplemental Disclosure of Non-Cash Activities      
Decrease to noncontrolling interest due to consolidation and (deconsolidation) of sponsored investment products, net (47,763) (648) (47,165)
Consolidated Investment Product [Member]      
Adjustments to reconcile net income to net cash (used in) provided by operating activities:      
Amortization of discount on notes payable of consolidated investment product 3,719 0 0
Realized and unrealized (gains) losses on trading securities, net 1,070 3,505 0
Purchases of investments (276,727) (199,892) 0
Sales of investments 125,502 13,864 0
Change in cash pledged or on deposit of consolidated sponsored investment products      
Change in other assets (714) (426) 0
Change in other liabilities 1,775 484 0
Cash Flows from Financing Activities:      
(Repayment) Borrowings of debt of consolidated investment product (152,597) 152,597 0
Proceeds from issuance of notes payable by consolidated investment product $ 316,280 $ 0 $ 0