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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
 12 Months Ended
Dec. 31, 2020
USD ($)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Operating Activities      
Net Income Including the Noncontrolling Interests in Subsidiaries $ 336,022 $ 277,125 $ 222,299
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities      
Amortization of Deferred Sales Commissions 1,369 2,077 2,967
Depreciation and Other Amortization 28,563 25,922 17,087
Share-Based Compensation Expense 26,669 25,057 23,893
Subsidiary Share-Based Compensation Expense 8,786 7,888 4,239
(Gain) Loss on Disposal of Assets 1,382 (1,085) 298
Provision (Benefit) for Deferred Income Taxes 18,169 7,452 12,257
Net Unrealized (Gain) Loss on Investments (19,403) (6,915) 4,322
Net Sales (Purchases) of Investments—Consolidated Investment Companies (12,978) (26,434) 16,696
Consolidation/(Deconsolidation) of Investment Companies (3,051) 0 0
Other Changes in Assets and Liabilities:      
(Increase) Decrease in Receivables, net 11,654 (7,250) (9,907)
(Increase) Decrease in Prepaid Expenses and Other Assets (33,588) 7,411 (210)
Increase (Decrease) in Accounts Payable and Accrued Expenses 695 30,912 (96,231)
Increase (Decrease) in Other Liabilities 8,952 (7,220) 8,572
Net Cash Provided (Used) by Operating Activities 373,241 334,940 206,282
Investing Activities      
Purchases of Investments—Affiliates and Other (25,513) (103,445) (7,267)
Cash Paid for Business Acquisitions, net of Cash Acquired 2,697 785 (168,430)
Cash Paid for Asset Acquisitions 0 (58,046) (1,962)
Proceeds from Redemptions of Investments—Affiliates and Other 11,493 81,068 20,283
Cash Paid for Property and Equipment (13,500) (15,045) (17,274)
Other Investing Activities 0 0 211
Net Cash Provided (Used) by Investing Activities (24,823) (94,683) (174,439)
Financing Activities      
Dividends Paid (207,765) (109,147) (106,943)
Purchases of Treasury Stock (66,759) (15,740) (29,247)
Distributions to Noncontrolling Interests in Subsidiaries (16,218) (3,580) (18,492)
Contributions from Noncontrolling Interests in Subsidiaries 20,985 9,356 2,801
Proceeds from Shareholders for Share-Based Compensation 1,455 1,431 1,444
Proceeds from New Borrowings 100,000 8,800 87,650
Payments on Debt (125,000) (43,800) (122,650)
Other Financing Activities (1,834) 0 (678)
Net Cash Provided (Used) by Financing Activities (295,136) (152,680) (186,115)
Effect of Exchange Rates on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents 5,842 4,508 (5,111)
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 59,124 92,085 (159,383)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning of Period 249,511 157,426 316,809
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, End of Period 308,635 249,511 157,426
Less: Restricted Cash Recorded in Other Current Assets 6,455 0 0
Less: Restricted Cash and Restricted Cash Equivalents Recorded in Other Long-Term Assets 361 337 594
Cash and Cash Equivalents 301,819 249,174 156,832
Cash paid during the year for:      
Income taxes 98,730 72,612 61,573
Interest $ 2,393 $ 4,606 $ 5,320