XML 18 R7.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Operating Activities    
Net income including the noncontrolling interests in subsidiaries $ 164,285 $ 122,817
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities    
Amortization of deferred sales commissions 8,979 11,774
Depreciation and other amortization 7,098 7,184
Share-based compensation expense 17,212 17,355
Loss on disposal of assets 1,417 2,196
Provision for deferred income taxes 13,686 13,035
Fair-value adjustments for contingent liabilities 0 377
Impairment of assets 1,637 1,342
Consolidation/deconsolidation of investment companies (176) (227)
Adoption of new accounting pronouncement (2,653) 0
Net purchases of trading securities (8,753) (11,547)
Deferred sales commissions paid (10,137) (11,091)
Contingent deferred sales charges received 1,636 1,826
Other changes in assets and liabilities:    
Increase in receivables, net (5,356) (764)
(Increase) decrease in prepaid expenses and other assets (4,776) 6,120
Decrease in accounts payable and accrued expenses (5,794) (13,354)
(Decrease) increase in other liabilities (2,787) 5,180
Net cash provided by operating activities 175,518 152,223
Investing Activities    
Purchases of securities available for sale (2,273) (2,692)
Proceeds from redemptions of securities available for sale 7,980 1
Cash paid for property and equipment (10,391) (4,618)
Net cash used by investing activities (4,684) (7,309)
Financing Activities    
Dividends paid (77,767) (78,607)
Purchases of treasury stock (61,440) (37,106)
Distributions to noncontrolling interest in subsidiaries (14,218) (3,035)
Contributions from noncontrolling interest in subsidiaries 14,040 16,209
Proceeds from shareholders for share-based compensation 222 99
Excess tax benefits from share-based compensation 0 2,541
Cash paid for business acquisitions (70) 0
Payments on debt (19,125) (19,125)
Net cash used by financing activities (158,358) (119,024)
Net increase in cash and cash equivalents 12,476 25,890
Cash and cash equivalents, beginning of period 172,628 115,267
Cash and cash equivalents, end of period $ 185,104 $ 141,157