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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash Flows from Operating Activities:    
Net income (loss) $ 80,793 $ 200,822
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense, intangible asset and other amortization 48,143 35,217
Stock-based compensation 19,267 21,833
Amortization of deferred commissions 3,653 2,606
Payments of deferred commissions (1,789) (4,664)
Equity in earnings of equity method investments (527) (3,701)
Distributions from equity method investments 2,239 3,133
Sales (purchases) of investments, net (8,396) (3,453)
Change in fair value of contingent consideration 2,900 0
Deferred taxes, net (5,500) (2,672)
Right of use asset 3,222 0
Changes in operating assets and liabilities:    
Accounts receivable, net and other assets 32,940 (41,421)
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities (76,639) 23,242
Operating activities of consolidated investment products ("CIP"):    
Net cash provided by (used in) operating activities 154,850 423,679
Cash Flows from Investing Activities:    
Capital expenditures and other asset purchases (5,495) (4,822)
Acquisition of businesses, net of cash acquired of $8,443 (19,944) 0
Net cash provided by (used in) investing activities (25,747) (16,525)
Cash Flows from Financing Activities:    
Refinancing of credit agreement 0 81,155
Payment of long-term debt (12,062) (11,826)
Payment of deferred financing costs 0 (7,039)
Common stock dividends paid (35,244) (20,030)
Repurchase of common shares (80,000) (32,499)
Payment of contingent consideration (33,036) 0
Taxes paid related to net share settlement of restricted stock units (16,450) (19,362)
Affiliate equity sales (purchases) (11,089) 0
Net contributions from (distributions to) noncontrolling interests (1,091) 552
Net cash provided by (used in) financing activities (318,968) (153,513)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (650) 0
Net increase (decrease) in cash, cash equivalents and restricted cash (190,515) 253,641
Cash, cash equivalents and restricted cash, beginning of period 586,145 339,849
Cash, cash equivalents and restricted cash, end of period 395,630 593,490
Non-Cash Investing Activities:    
Contingent consideration 1,200 137,664
Non-Cash Financing Activities:    
Increase (decrease) to noncontrolling interests due to consolidation (deconsolidation) of CIP, net (338) (32,007)
Common stock dividends payable 12,014 11,478
Reconciliation of cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash at end of period 395,630 593,490
Consolidated entity excluding consolidated investment products    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Realized and unrealized (gains) losses on investments, net 16,056 (2,875)
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net 16,056 (2,875)
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 309,248  
Consolidated Investment Products    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Realized and unrealized (gains) losses on investments, net 41,312 (4,139)
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net 41,312 (4,139)
Purchases of investments by CIP (601,749) (917,355)
Sales of investments by CIP 595,451 1,101,258
Net proceeds (purchases) of short-term investments and securities sold short by CIP (655) 16,165
Change in other assets and liabilities of CIP 4,129 (317)
Cash Flows from Investing Activities:    
Change in cash and cash equivalents of CIP due to consolidation (deconsolidation), net (308) (11,703)
Cash Flows from Financing Activities:    
Payments on borrowings by CIP (129,996) $ (144,464)
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 85,791  
Cash pledged or on deposit of CIP $ 591