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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net income $ 1,423,960 $ 1,841,915 $ 755,868
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 613,088 525,871 501,728
Amortization and write-off of financing costs on extinguished debt 7,741 8,315 82,705
Gains related to mortgage servicing rights, premiums on loan sales and sales of other assets (202,507) (142,929) (297,980)
Asset impairments 58,713 0 88,676
Net realized and unrealized losses (gains), primarily from investments 30,482 (41,982) (17,394)
Provision for doubtful accounts 17,026 24,489 44,366
Net compensation expense for equity awards 160,325 184,934 60,391
Gain recognized upon deconsolidation of SPAC 0 (187,456) 0
Equity income from unconsolidated subsidiaries (228,998) (618,697) (126,161)
Distribution of earnings from unconsolidated subsidiaries 389,276 520,382 155,975
Proceeds from sale of mortgage loans 14,526,920 17,194,606 20,937,521
Origination of mortgage loans (13,651,807) (17,015,839) (21,268,114)
(Decrease) increase in warehouse lines of credit (829,611) (106,513) 406,789
Tenant concessions received 11,605 31,176 48,030
Purchase of equity securities (28,232) (7,154) (11,113)
Proceeds from sale of equity securities 30,360 8,709 13,741
Decrease (increase) in real estate under development 94,599 (54,658) (105,619)
(Increase) decrease in receivables, prepaid expenses and other assets (including contract and lease assets) (503,365) (765,959) 371,009
Increase in accounts payable and accrued expenses and other liabilities (including contract and lease liabilities) 64,102 104,749 105,491
(Decrease) increase in compensation and employee benefits payable and accrued bonus and profit sharing (1,995) 729,703 (100,142)
(Increase) decrease in net income taxes receivable/payable (133,244) 248,293 173,648
Other operating activities, net (219,350) (117,777) 11,364
Net cash provided by operating activities 1,629,088 2,364,178 1,830,779
CASH FLOWS FROM INVESTING ACTIVITIES:      
Capital expenditures (260,140) (209,851) (266,575)
Acquisition of businesses, including net assets acquired, intangibles and goodwill, net of cash acquired (173,582) (781,489) (27,848)
Contributions to unconsolidated subsidiaries (385,164) (334,544) (146,409)
Distributions from unconsolidated subsidiaries 87,170 75,853 88,731
Investment in VTS (100,720) 0 0
Investment in Altus Power, Inc. Class A stock 0 (220,001) 0
Proceeds from sale of marketable securities - special purpose acquisition company trust account 0 212,722 0
Purchase of marketable securities - special purpose acquisition company trust account 0 0 (402,500)
Other investing activities, net (19) (23,587) 10,516
Net cash used in investing activities (832,455) (1,280,897) (744,085)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayment of senior term loans 0 (300,000) 0
Proceeds from revolving credit facility 1,833,000 26,599 835,671
Repayment of revolving credit facility (1,655,000) 0 (835,671)
Repayment of 5.25% senior notes (including premium) 0 0 (499,652)
Sale of non-controlling interest - special purpose acquisition company 0 0 393,661
Redemption of non-controlling interest-special purpose acquisition company and payment of deferred underwriting commission 0 (205,110) 0
Proceeds from notes payable on real estate 39,265 78,428 90,552
Repayment of notes payable on real estate (27,723) (109,461) (24,704)
Proceeds from issuance of 2.500% senior notes 0 492,255 0
Repurchase of common stock (1,850,318) (368,603) (50,028)
Acquisition of businesses (cash paid for acquisitions more than three months after purchase date) (34,443) (17,769) (44,700)
Units repurchased for payment of taxes on equity awards (37,932) (38,864) (43,835)
Non-controlling interest contributions 2,427 862 2,173
Non-controlling interest distributions (893) (4,572) (4,330)
Other financing activities, net (34,476) (44,396) (41,893)
Net cash used in financing activities (1,766,093) (490,631) (222,756)
Effect of currency exchange rate changes on cash and cash equivalents and restricted cash (165,472) (92,116) 81,564
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (1,134,932) 500,534 945,502
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT BEGINNING OF YEAR 2,539,781 2,039,247 1,093,745
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, AT END OF YEAR 1,404,849 2,539,781 2,039,247
Cash paid during the year for:      
Interest 89,223 41,068 67,463
Income tax payments, net 604,366 330,426 51,681
Non-cash investing and financing activities:      
Deferred purchase consideration - Turner & Townsend 0 485,414 0
Non-controlling interest as part of Turner & Townsend Acquisition 0 774,122 0
Investment in alignment shares and private placement warrants of Altus Power, Inc. 0 141,871 0
Reduction in redeemable non-controlling interest - special purpose acquisition company 0 211,501 0
Reduction of trust account - special purpose acquisition company $ 0 $ 189,801 $ 0