v3.6.0.2
Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income (loss) $ 141,865 $ 120,217 $ 32,555
Adjustments to reconcile net income to net cash provided by (used in) operating activities:      
Bad debt expense (277) 1,213 1,450
Depreciation and amortization 3,183 2,635 2,268
(Income) loss from equity method investments (5,076) (4,476) 2,185
Equity-based compensation 77,050 46,131 119,756
Deferred tax provision (1,014) 796 (753)
Other 2,204 540 3,235
Changes in assets and liabilities:      
Accounts receivable 5,536 (7,993) 4,604
Other receivables 3,562 (5,448) 371
Prepaid expenses and other assets 1,754 (5,166) 1,990
Deferred compensation 167 (3,420) (2,456)
Compensation payable 10,739 (10,618) 33,601
Accounts payable and accrued expenses (6,219) 1,751 11,103
Deferred revenue (4,018) 1,855 (1,682)
Dividends received 1,416 4,415  
Other liabilities 584 (130) 684
Net cash provided by (used in) operating activities 231,456 142,302 208,911
Cash flows from investing activities      
Purchase of investments (120,906) (157,981) (130,994)
Proceeds from sales of investments 126,000 160,001 157,235
Return of capital from equity method investments 11 254  
Investment in equity method investments     (4,445)
Note payments received from employees     831
Notes issued to employees (852)   (119)
Purchase of equipment and leasehold improvements (2,870) (3,996) (3,888)
Change in restricted cash 53 (18) (81)
Net cash provided by (used in) investing activities 1,436 (1,740) 18,539
Cash flows from financing activities      
Dividends and distributions (154,703) (80,909) (123,223)
Purchase of treasury stock (3,314) (7,616)  
Payments under tax receivable agreement   (1,587)  
Excess tax benefits from equity-based compensation 118 462  
Class A partnership units and other equity purchased   (90)  
Pre-offering distribution to partners     (195,017)
IPO related proceeds (net of $10,316 of offering costs)     163,682
Distributions of IPO proceeds to partners     (139,429)
Other cash contributions from (distributions to) Parent     (34,730)
Cash proceeds from issuance of Class B common stock     500
Other     (938)
Net cash provided by (used in) financing activities (157,899) (89,740) (329,155)
Effect of exchange rate fluctuations on cash and cash equivalents (4,089) (744) (3,375)
Net increase (decrease) in cash and cash equivalents 70,904 50,078 (105,080)
Cash and cash equivalents, beginning of period 248,022 197,944 303,024
Cash and cash equivalents, end of period 318,926 248,022 197,944
Cash paid during the period for:      
Income taxes 28,613 26,000 5,649
Other non-cash activity      
Dividends declared not paid 68,066    
Dividend equivalents issued 23,367 4,130  
Class A Partnership Units or other equity converted into Class A Common Stock 835 4,726  
Forfeiture of fully-vested Group LP units or other equity units $ 83 1,075  
Non-cash settlement of accounts receivable   $ 635  
Initial establishment of deferred tax assets, net of amounts payable under tax receivable agreement     10,854
Increase in deferred tax assets resulting from follow-on offering, net of amounts payable under tax receivable agreement     20,711
Capitalized offering costs paid in prior or subsequent period     1,575
Tax benefit related to settlement of appreciation units     4,308
Establishment of deferred tax asset related to reorganization     3,261
Increase in deferred tax asset related to IPO     1,302
Other non-cash distributions     $ 1,560