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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities:    
Net income (loss) $ 34,643 $ 39,119
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense, intangible asset and other amortization 15,910 15,982
Stock-based compensation 5,749 9,547
Amortization of deferred commissions 500 1,471
Payments of deferred commissions (384) (949)
Equity in earnings of equity method investments 554 (410)
Sales (purchases) of investments, net 5,217 (7,917)
Deferred taxes, net 1,441 562
Changes in operating assets and liabilities:    
Accounts receivable, net and other assets 9,109 13,841
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities (115,514) (120,267)
Operating activities of consolidated investment products ("CIP"):    
Net cash provided by (used in) operating activities (42,959) (81,775)
Cash Flows from Investing Activities:    
Capital expenditures and other asset purchases (1,448) (2,510)
Acquisition of businesses, net of cash acquired of $8,443 0 (19,773)
Purchase of equity method investment (11,645) 0
Net cash provided by (used in) investing activities (13,145) (22,575)
Cash Flows from Financing Activities:    
Payment of long-term debt (688) (687)
Common stock dividends paid (14,083) (12,663)
Repurchase of common shares 0 (30,000)
Payment of contingent consideration (27,179) (33,036)
Taxes paid related to net share settlement of restricted stock units (12,209) (13,416)
Net contributions from (distributions to) noncontrolling interests 294 (3,734)
Net cash provided by (used in) financing activities (115,078) (145,777)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 180 (56)
Net increase (decrease) in cash, cash equivalents and restricted cash (171,002) (250,183)
Cash, cash equivalents and restricted cash, beginning of period 589,179 586,145
Cash, cash equivalents and restricted cash, end of period 418,177 335,962
Non-Cash Investing Activities:    
Contingent consideration 0 1,200
Non-Cash Financing Activities:    
Increase (decrease) to noncontrolling interests due to consolidation (deconsolidation) of CIP, net (3,447) (2,986)
Common stock dividends payable 11,850 11,259
Reconciliation of cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash at end of period 418,177 335,962
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 (2,670) 2,983
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net (2,670) 2,983
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 213,424  
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 (3,844) 12,559
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net (3,844) 12,559
Purchases of investments by CIP (320,808) (259,071)
Sales of investments by CIP 323,380 209,644
Net proceeds (purchases) of short-term investments and securities sold short by CIP (218) (14)
Change in other assets and liabilities of CIP 3,976 1,145
Cash Flows from Investing Activities:    
Change in cash and cash equivalents of CIP due to consolidation (deconsolidation), net (52) (292)
Cash Flows from Financing Activities:    
Payments on borrowings by CIP (61,213) $ (52,241)
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 204,012  
Cash pledged or on deposit of CIP $ 741