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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 173,530 $ 170,826
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation and amortization 113,794 105,823
Amortization and write-off of financing costs on extinguished debt 1,501 4,175
Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets (52,373) (53,517)
Asset impairments 75,171 89,037
Net realized and unrealized losses (gains), primarily from investments 193 (20,853)
Provision for doubtful accounts 9,059 1,867
Net compensation (reversal) expense for equity awards (1,239) 29,271
Equity income from unconsolidated subsidiaries (20,631) (72,664)
Distribution of earnings from unconsolidated subsidiaries 29,185 77,158
Proceeds from sale of mortgage loans 3,595,631 4,453,797
Origination of mortgage loans (3,859,407) (4,646,348)
Increase in warehouse lines of credit 281,657 232,446
Tenant concessions received 13,292 3,464
Purchase of equity securities (3,559) (62,117)
Proceeds from sale of equity securities 4,925 25,730
Decrease (increase) in real estate under development 7,742 (3,356)
Decrease (increase) in receivables, prepaid expenses and other assets (including contract and lease assets) 52,796 (168,862)
Decrease in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities) (34,597) (33,982)
Decrease in compensation and employee benefits payable and accrued bonus and profit sharing (605,950) (510,405)
Decrease (increase) in net income taxes receivable/payable 108,609 (11,344)
Other operating activities, net (25,610) (2,721)
Net cash used in operating activities (136,281) (392,575)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (62,241) (56,979)
Acquisition of businesses, including net assets acquired, intangibles and goodwill, net of cash acquired (25,897) (2,142)
Contributions to unconsolidated subsidiaries (32,155) (23,562)
Distributions from unconsolidated subsidiaries 18,994 5,974
Other investing activities, net 9,068 2,771
Net cash used in investing activities (92,231) (73,938)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from senior term loans   300,000
Repayment of senior term loans   (300,000)
Proceeds from revolving credit facility 331,671 507,000
Repayment of revolving credit facility (331,701) (171,000)
Repurchase of common stock (50,028) (45,088)
Acquisition of businesses (cash paid for acquisitions more than three months after purchase date) (6,230) (17,185)
Units repurchased for payment of taxes on equity awards (36,873) (9,186)
Non-controlling interest contributions 622 40,774
Non-controlling interest distributions (497) (1,347)
Other financing activities, net (869) (3,940)
Net cash (used in) provided by financing activities (93,905) 300,028
Effect of currency exchange rate changes on cash and cash equivalents and restricted cash (38,633) (9,791)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (361,050) (176,276)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT BEGINNING OF PERIOD 1,093,745 863,944
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT END OF PERIOD 732,695 687,668
Cash paid during the period for:    
Interest 27,290 33,606
Income tax (refunds) payments, net $ (55,897) $ 54,241