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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 255,642 $ 394,264
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 230,178 212,302
Amortization and write-off of financing costs on extinguished debt 3,082 5,705
Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets (105,697) (114,283)
Asset impairments 75,171 89,037
Net realized and unrealized gains, primarily from investments (5,027) (25,222)
Provision for doubtful accounts 29,923 11,438
Net compensation expense for equity awards 19,704 65,580
Equity income from unconsolidated subsidiaries (40,111) (94,437)
Distribution of earnings from unconsolidated subsidiaries 52,664 97,561
Proceeds from sale of mortgage loans 7,421,127 10,099,268
Origination of mortgage loans (7,162,747) (10,090,347)
(Decrease) increase in warehouse lines of credit (223,281) 21,227
Tenant concessions received 23,384 12,931
Purchase of equity securities (6,627) (70,221)
Proceeds from sale of equity securities 8,909 38,495
Decrease (increase) in real estate under development 701 (3,356)
Decrease (increase) in receivables, prepaid expenses and other assets (including contract and lease assets) 276,065 (458,990)
(Decrease) increase in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities) (130,264) 163,502
Decrease in compensation and employee benefits payable and accrued bonus and profit sharing (816,621) (528,754)
Decrease (increase) in net income taxes receivable/payable 125,361 (97,260)
Other operating activities, net (25,473) (21,724)
Net cash provided by (used in) operating activities 6,063 (293,284)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (134,149) (124,222)
Acquisition of businesses, including net assets acquired, intangibles and goodwill, net of cash acquired (25,911) (2,142)
Contributions to unconsolidated subsidiaries (51,168) (35,187)
Distributions from unconsolidated subsidiaries 63,972 10,273
Other investing activities, net 11,314 3,146
Net cash used in investing activities (135,942) (148,132)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from senior term loans   300,000
Repayment of senior term loans   (300,000)
Proceeds from revolving credit facility 835,671 1,596,000
Repayment of revolving credit facility (384,671) (1,366,000)
Proceeds from notes payable on real estate 22,705 4,165
Repurchase of common stock (50,028) (45,088)
Units repurchased for payment of taxes on equity awards (37,358) (9,565)
Acquisition of businesses (cash paid for acquisitions more than three months after purchase date) (6,839) (28,517)
Non-controlling interest contributions 1,428 41,977
Non-controlling interest distributions (1,092) (2,563)
Other financing activities, net (2,853) (4,435)
Net cash provided by financing activities 376,963 185,974
Effect of currency exchange rate changes on cash and cash equivalents and restricted cash (27,095) 4,723
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 219,989 (250,719)
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 1,313,734 613,225
Cash paid during the period for:    
Interest 31,145 46,525
Income tax (refunds) payments, net $ (53,829) $ 208,876