XML 17 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Operating Activities    
Net income including the noncontrolling interests in subsidiaries $ 105,377 $ 78,681
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities    
Amortization of deferred sales commissions 5,856 8,058
Depreciation and other amortization 4,859 4,851
Share-based compensation expense 12,927 12,352
Loss on disposal of assets 1,394 760
Provision for deferred income taxes 11,911 11,576
Impairment of assets 1,637 0
Adoption of new accounting pronouncement (2,653) 0
Net purchases of trading securities (5,977) (7,521)
Deferred sales commissions paid (6,824) (8,132)
Contingent deferred sales charges received 1,093 1,132
Other changes in assets and liabilities:    
Increase in receivables, net (5,532) (1,912)
(Increase) decrease in prepaid expenses and other assets (4,756) 1,150
Decrease in accounts payable and accrued expenses (26,019) (31,288)
(Decrease) increase in other liabilities (4,141) 2,873
Net cash provided by operating activities 89,152 72,580
Investing Activities    
Purchases of securities available for sale (1,537) (1,918)
Proceeds from redemptions of securities available for sale 151 0
Cash paid for property and equipment (7,077) (3,230)
Net cash used by investing activities (8,463) (5,148)
Financing Activities    
Dividends paid (51,986) (52,448)
Purchases of treasury stock (35,197) (19,469)
Distributions to noncontrolling interest in subsidiaries (10,377) (1,764)
Contributions from noncontrolling interest in subsidiaries 10,774 10,539
Proceeds from shareholders for share-based compensation 149 82
Excess tax benefits from share-based compensation 0 2,198
Cash paid for business acquisitions (70) 0
Payments on debt (12,750) (12,750)
Net cash used by financing activities (99,457) (73,612)
Net decrease in cash and cash equivalents (18,768) (6,180)
Cash and cash equivalents, beginning of period 172,628 115,267
Cash and cash equivalents, end of period $ 153,860 $ 109,087