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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows from Operating Activities:    
Net income (loss) $ 37,867 $ 34,643
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense, intangible asset and other amortization 18,164 16,410
Stock-based compensation 6,831 5,749
Equity in earnings of equity method investments (498) 554
Deferred taxes, net 1,086 1,441
Changes in operating assets and liabilities:    
Sales (purchases) of investments, net 5,987 5,217
Accounts receivable, net and other assets (341) 8,725
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities (120,631) (115,514)
Operating activities of consolidated investment products ("CIP"):    
Net cash provided by (used in) operating activities (34,528) (42,959)
Cash Flows from Investing Activities:    
Capital expenditures (1,923) (1,448)
Purchase of equity method investment 0 (11,645)
Net cash provided by (used in) investing activities (2,460) (13,145)
Cash Flows from Financing Activities:    
Repayments on credit agreement (688) (688)
Common stock dividends paid (14,929) (14,083)
Repurchase of common shares (5,000) 0
Payment of contingent consideration (24,234) (27,179)
Taxes paid related to net share settlement of restricted stock units (9,854) (12,209)
Affiliate equity sales (purchases) (419) 0
Net contributions from (distributions to) noncontrolling interests 16,772 294
Net cash provided by (used in) financing activities (56,146) (115,078)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (203) 180
Net increase (decrease) in cash, cash equivalents and restricted cash (93,337) (171,002)
Cash, cash equivalents and restricted cash, beginning of period 341,014 589,179
Cash, cash equivalents and restricted cash, end of period 247,677 418,177
Non-Cash Financing Activities:    
Increase (decrease) to noncontrolling interests due to consolidation (deconsolidation) of CIP, net (13,624) (3,447)
Common stock dividends payable 13,467 11,850
Reconciliation of cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash at end of period 247,677 418,177
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 (3,393) (2,670)
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net (3,393) (2,670)
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 123,880  
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 (3,732) (3,844)
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net (3,732) (3,844)
Purchases of investments by CIP (304,516) (320,808)
Sales of investments by CIP 323,720 323,380
Net proceeds (purchases) of short-term investments and securities sold short by CIP 206 (218)
Change in other assets and liabilities of CIP 4,722 3,976
Cash Flows from Investing Activities:    
Change in cash and cash equivalents of CIP due to consolidation (deconsolidation), net (537) (52)
Cash Flows from Financing Activities:    
Payments on borrowings by CIP (17,794) $ (61,213)
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 123,030  
Cash pledged or on deposit of CIP $ 767