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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 440,482 $ 652,317
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 357,903 323,862
Amortization and write-off of financing costs on extinguished debt 4,632 7,196
Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets (179,506) (191,103)
Asset impairments 75,171 89,037
Net realized and unrealized gains, primarily from investments (12,974) (26,163)
Provision for doubtful accounts 49,498 18,083
Net compensation expense for equity awards 41,841 98,958
Equity income from unconsolidated subsidiaries (72,487) (120,233)
Distribution of earnings from unconsolidated subsidiaries 103,796 145,588
Proceeds from sale of mortgage loans 11,565,281 15,786,800
Origination of mortgage loans (11,727,227) (15,381,864)
Increase in warehouse lines of credit 214,659 19,849
Increase in advance warehouse funding   (376,707)
Tenant concessions received 28,617 18,367
Purchase of equity securities (8,932) (81,369)
Proceeds from sale of equity securities 11,210 45,333
Increase in real estate under development (68,178) (3,356)
Decrease (increase) in receivables, prepaid expenses and other assets (including contract and lease assets) 610,058 (644,586)
(Decrease) increase in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities) (128,693) 158,708
Decrease in compensation and employee benefits payable and accrued bonus and profit sharing (550,932) (194,592)
Decrease (increase) in net income taxes receivable/payable 118,736 (132,583)
Other operating activities, net (12,313) (36,793)
Net cash provided by operating activities 860,642 174,749
CASH FLOWS FROM INVESTING ACTIVITIES:    
Capital expenditures (190,546) (196,031)
Acquisition of businesses, including net assets acquired, intangibles and goodwill, net of cash acquired (25,923) (14,844)
Contributions to unconsolidated subsidiaries (72,058) (84,648)
Distributions from unconsolidated subsidiaries 66,409 20,960
Other investing activities, net 15,631 2,864
Net cash used in investing activities (206,487) (271,699)
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 2,683,000
Repayment of revolving credit facility (835,671) (2,631,000)
Proceeds from notes payable on real estate 40,263 5,243
Repayment of notes payable on real estate (24,704)  
Repurchase of common stock (50,028) (94,088)
Acquisition of businesses (cash paid for acquisitions more than three months after purchase date) (34,400) (36,089)
Units repurchased for payment of taxes on equity awards (41,627) (16,573)
Non-controlling interest contributions 1,977 46,513
Non-controlling interest distributions (2,471) (3,798)
Other financing activities, net (334) (5,171)
Net cash used in financing activities (111,324) (51,963)
Effect of currency exchange rate changes on cash and cash equivalents and restricted cash 9,981 (12,726)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 552,812 (161,639)
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 1,646,557 702,305
Cash paid during the period for:    
Interest 60,415 80,179
Income tax payments, net $ 4,137 $ 302,735