XML 60 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Net cash flows from operating activities:    
Net income $ 374,429us-gaap_ProfitLoss $ 91,937us-gaap_ProfitLoss
Adjustments to reconcile net income to net cash used for operations:    
Deferred income tax provision 214,612us-gaap_DeferredIncomeTaxExpenseBenefit 39,754us-gaap_DeferredIncomeTaxExpenseBenefit
Depreciation and amortization of property, equipment and leasehold improvements 37,262luk_DepreciationAndAmortizationOfPropertyEquipmentAndLeaseholdImprovements 29,336luk_DepreciationAndAmortizationOfPropertyEquipmentAndLeaseholdImprovements
Other amortization 3,066us-gaap_OtherDepreciationAndAmortization (265)us-gaap_OtherDepreciationAndAmortization
Share-based compensation 32,794us-gaap_ShareBasedCompensation 38,207us-gaap_ShareBasedCompensation
Provision for doubtful accounts 3,636luk_ProvisionForDoubtfulAccountsIncludingAmountsClassifiedInCostOfGoodsSoldAndDiscontinuedOperations 2,752luk_ProvisionForDoubtfulAccountsIncludingAmountsClassifiedInCostOfGoodsSoldAndDiscontinuedOperations
Net securities gains (15,089)us-gaap_GainLossOnInvestments (5,394)us-gaap_GainLossOnInvestments
Income related to associated companies (61,140)luk_IncomeLossesRelatedToAssociatedCompaniesIncludingAmountsClassifiedAsOtherRevenue (40,663)luk_IncomeLossesRelatedToAssociatedCompaniesIncludingAmountsClassifiedAsOtherRevenue
Distributions from associated companies 39,703luk_DividendsOrDistributionsFromAssociatedCompanies 20,912luk_DividendsOrDistributionsFromAssociatedCompanies
Net gains related to property and equipment, and other assets (659)luk_NetGainsLossesRelatedToRealEstatePropertyAndEquipmentAndOtherAssets (1,177)luk_NetGainsLossesRelatedToRealEstatePropertyAndEquipmentAndOtherAssets
Net change in:    
Cash and securities segregated and on deposit for regulatory purposes or deposited with clearing and depository organizations 257,319luk_IncreaseDecreaseInCashAndSecuritiesSegregatedAndOnDepositForRegulatoryPurposesOrDepositedWithClearingAndDepositoryOrganizations (183,710)luk_IncreaseDecreaseInCashAndSecuritiesSegregatedAndOnDepositForRegulatoryPurposesOrDepositedWithClearingAndDepositoryOrganizations
Trading assets (1,095,937)us-gaap_IncreaseDecreaseInTradingSecurities (1,968,227)us-gaap_IncreaseDecreaseInTradingSecurities
Investments in managed funds (312,111)luk_IncreaseDecreaseInInvestmentsInManagedFunds (4,978)luk_IncreaseDecreaseInInvestmentsInManagedFunds
Securities borrowed 285,891us-gaap_IncreaseDecreaseInSecuritiesBorrowed (756,481)us-gaap_IncreaseDecreaseInSecuritiesBorrowed
Securities purchased under agreements to resell 179,290luk_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell (694,175)luk_IncreaseDecreaseInSecuritiesPurchasedUnderAgreementsToResell
Receivables from brokers, dealers and clearing organizations (38,561)us-gaap_IncreaseDecreaseInBrokerageReceivables (478,066)us-gaap_IncreaseDecreaseInBrokerageReceivables
Receivables from customers of securities operations (94,841)luk_IncreaseDecreaseReceivablesFromCustomersOfSecuritiesOperations (227,813)luk_IncreaseDecreaseReceivablesFromCustomersOfSecuritiesOperations
Other receivables (28,557)us-gaap_IncreaseDecreaseInOtherReceivables (72,241)us-gaap_IncreaseDecreaseInOtherReceivables
Other assets (124,643)luk_IncreaseDecreaseInOtherAssets (149,111)luk_IncreaseDecreaseInOtherAssets
Trading liabilities (966,190)us-gaap_IncreaseDecreaseInTradingLiabilities 2,282,870us-gaap_IncreaseDecreaseInTradingLiabilities
Securities loaned 575,750us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions 572,285us-gaap_IncreaseDecreaseInSecuritiesLoanedTransactions
Securities sold under agreements to repurchase 654,705us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements (10,772)us-gaap_IncreaseDecreaseInPayablesUnderRepurchaseAgreements
Payables to brokers, dealers and clearing organizations 384,163us-gaap_IncreaseDecreaseInPayablesToBrokerDealers 287,356us-gaap_IncreaseDecreaseInPayablesToBrokerDealers
Payables to customers of securities operations (1,481,640)us-gaap_IncreaseDecreaseInPayablesToCustomers 488,178us-gaap_IncreaseDecreaseInPayablesToCustomers
Trade payables, expense accruals and other liabilities (487,782)luk_IncreaseDecreaseInTradePayablesExpenseAccrualsAndOtherLiabilites (294,047)luk_IncreaseDecreaseInTradePayablesExpenseAccrualsAndOtherLiabilites
Other (62,857)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet (946)us-gaap_IncreaseDecreaseInOtherOperatingCapitalNet
Net cash used for operating activities (1,727,387)us-gaap_NetCashProvidedByUsedInOperatingActivities (1,034,479)us-gaap_NetCashProvidedByUsedInOperatingActivities
Net cash flows from investing activities:    
Acquisitions of property, equipment and leasehold improvements, and other assets (62,821)luk_PaymentsToAcquirePropertyPlantAndEquipmentAndOtherAssets (75,057)luk_PaymentsToAcquirePropertyPlantAndEquipmentAndOtherAssets
Proceeds from disposals of property and equipment, and other assets 3,103luk_ProceedsFromDisposalsOfPropertyAndEquipmentAndOtherAssets 2,681luk_ProceedsFromDisposalsOfPropertyAndEquipmentAndOtherAssets
Acquisitions, net of cash acquired   (10,178)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Cash paid and cash of real estate operations sold to HomeFed Corporation   (18,100)luk_CashPaidAndCashOfRealEstateOperationsSold
Advances on notes and other receivables (283,000)us-gaap_PaymentsToAcquireReceivables  
Collections on notes, loans and other receivables 21,836us-gaap_ProceedsFromSaleAndCollectionOfReceivables 4,432us-gaap_ProceedsFromSaleAndCollectionOfReceivables
Loans to and investments in associated companies (607,025)us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates (794,498)us-gaap_PaymentsToAcquireInterestInSubsidiariesAndAffiliates
Capital distributions and loan repayment from associated companies 560,043luk_CapitalDistributionsAndLoanRepaymentFromAssociatedCompanies 780,503luk_CapitalDistributionsAndLoanRepaymentFromAssociatedCompanies
Deconsolidation of asset management entities   (207,965)luk_CashOfAssetManagementEntitiesDeconsolidated
Purchases of investments (other than short-term) (400,484)luk_PurchasesOfInvestmentsOtherThanShortTerm (402,451)luk_PurchasesOfInvestmentsOtherThanShortTerm
Proceeds from maturities of investments 139,988luk_ProceedsFromMaturitiesOfInvestments 282,760luk_ProceedsFromMaturitiesOfInvestments
Proceeds from sales of investments 897,246luk_ProceedsFromSalesOfInvestments 1,007,243luk_ProceedsFromSalesOfInvestments
Other (966)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (1,883)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash provided by investing activities 267,920us-gaap_NetCashProvidedByUsedInInvestingActivities 567,487us-gaap_NetCashProvidedByUsedInInvestingActivities
Net cash flows from financing activities:    
Issuance of debt, net of issuance costs 127,486us-gaap_ProceedsFromOtherDebt 192,690us-gaap_ProceedsFromOtherDebt
Change in short-term borrowings 399,998us-gaap_ProceedsFromRepaymentsOfShortTermDebt  
Reduction of debt (15,448)us-gaap_RepaymentsOfOtherDebt (21,930)us-gaap_RepaymentsOfOtherDebt
Net proceeds from other secured financings 245,251luk_ProceedsFromOtherSecuredFinancingsNet 35,683luk_ProceedsFromOtherSecuredFinancingsNet
Issuance of common shares 616us-gaap_ProceedsFromIssuanceOfCommonStock 592us-gaap_ProceedsFromIssuanceOfCommonStock
Distributions to noncontrolling interests   (778)us-gaap_PaymentsToMinorityShareholders
Contributions from noncontrolling interests 533us-gaap_ProceedsFromMinorityShareholders 8,604us-gaap_ProceedsFromMinorityShareholders
Purchase of common shares for treasury (27,010)us-gaap_PaymentsForRepurchaseOfCommonStock (46,710)us-gaap_PaymentsForRepurchaseOfCommonStock
Dividends paid (23,359)us-gaap_PaymentsOfDividendsCommonStock (23,186)us-gaap_PaymentsOfDividendsCommonStock
Other 246us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 953us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash provided by financing activities 708,313us-gaap_NetCashProvidedByUsedInFinancingActivities 145,918us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of foreign exchange rate changes on cash (1,097)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 4,006us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net decrease in cash and cash equivalents (752,251)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (317,068)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents at January 1, including cash classified as assets of discontinued operations 4,276,775us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations 3,907,595us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
Cash and cash equivalents at March 31, including cash classified as assets of discontinued operations 3,524,524us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations 3,590,527us-gaap_CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations
Supplemental disclosures of cash flow information:    
Interest 204,769us-gaap_InterestPaidNet 266,179us-gaap_InterestPaidNet
Income tax payments (refunds), net $ 828us-gaap_IncomeTaxesPaidNet $ (1,359)us-gaap_IncomeTaxesPaidNet