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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net income $ 279,798 $ 204,132
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation and amortization 99,273 91,291
Stock-based compensation expense 40,117 27,323
Deferred taxes 17,008 49,264
Other (income) loss, net 0 115
(Increase) decrease in operating assets:    
Receivable from/payable to brokers and dealers and clearing organizations, net 22,027 362
Deposits with clearing organizations (25,902) 50
Accounts receivable (64,949) (18,239)
Receivable and due from affiliates/payable and due to affiliates, net (4,356) (5,277)
Other assets 3,554 1,334
Increase (decrease) in operating liabilities:    
Securities sold under agreements to repurchase (21,612) 0
Accrued compensation (44,448) (66,974)
Deferred revenue 2,226 4,555
Accounts payable, accrued expenses and other liabilities 20,848 (3,997)
Net cash provided by operating activities 323,584 283,939
Cash flows from investing activities    
Cash paid for acquisitions, net of cash acquired (89,224) 0
Cash paid for foreign currency call option 0 (2,389)
Cash paid for investments (11,585) 0
Purchases of furniture, equipment, software and leasehold improvements (11,417) (11,166)
Capitalized software development costs (22,478) (20,505)
Net cash used in investing activities (134,704) (34,060)
Cash flows from financing activities    
Share repurchases pursuant to share repurchase programs 0 (30,056)
Proceeds from stock-based compensation exercises 4,828 7,582
Dividends (42,607) (37,781)
Distributions to non-controlling interests (16,058) (5,569)
Payroll taxes paid for stock-based compensation (44,457) (41,748)
Payments on tax receivable agreement liability (76,586) (5,724)
Net cash used in financing activities (174,880) (113,296)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2,238) 2,589
Net increase (decrease) in cash, cash equivalents and restricted cash 11,762 139,172
Cash, cash equivalents and restricted cash    
Beginning of period 1,707,468 1,258,229
End of period 1,719,230 1,397,401
Supplemental disclosure of cash flow information    
Income taxes paid, net of (refunds) 61,414 19,026
Cash paid for interest 1,757 413
Non-cash investing and financing activities    
Issuance of common stock for business acquisition 36,692 0
Furniture, equipment, software and leasehold improvement additions included in accounts payable 165 1,203
Unsettled share repurchases included in other liabilities 0 252
Reconciliation of cash, cash equivalents and restricted cash as shown on the statements of financial condition:    
Cash and cash equivalents 1,718,230  
Restricted cash 1,000  
Cash, cash equivalents and restricted cash shown in the statement of cash flows 1,719,230 1,397,401
Adjusted For Refinitiv Transaction    
Non-cash investing and financing activities    
Establishment of liabilities under tax receivable agreement 0 27,976
Deferred tax asset $ 19,119 $ 70,886