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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities      
Net income before noncontrolling interests $ 241,457 $ 254,190 $ 150,737
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,233 5,668 5,297
Deferred income taxes 7,356 24,863 395,416
Other Asset Impairment Charges 2,107 0 0
Noncash lease expense 1,533 4,086 2,391
Net (gain) loss on seed investment securities (5,101) (688) (519)
Net (gain) loss on the tax receivable agreements 19,557 (251) (290,919)
Loss on disposal of property and equipment 275 18 69
Amortization of debt issuance costs 463 457 452
Share-based compensation 43,095 53,554 62,892
Net Investment Gain (Loss) of Consolidated Investment Products (10,084) (5,721) (4,241)
Purchase of Investments by Consolidated Investment Products (123,366) (643,548) (252,047)
Proceeds from Sale of Investments by Consolidated Investment Products 75,468 611,117 190,353
Change in assets and liabilities resulting in an increase (decrease) in cash:      
Accounts receivable (14,178) 9,002 (16,955)
Prepaid expenses and other assets 1,031 (2,275) 1,629
Accounts payable and accrued expenses 6,881 10,027 (9,202)
Class B liability awards 0 0 (506)
Net Change in Operating Assets and Liabilities of Consolidated Investment Products 40,066 12,823 (8,893)
Net cash provided by operating activities 292,793 333,322 225,954
Cash flows from investing activities      
Acquisition of property and equipment (3,498) (2,834) (1,578)
Payments For Leasehold Improvements 14,286 11,007 4,257
Proceeds from sale of investment securities 288 0 6,382
Purchase of investment securities (10) (500) (5,250)
Net cash used in investing activities (17,506) (14,341) (4,703)
Cash flows from financing activities      
Partnership distributions 94,842 103,434 115,804
Dividends paid (188,178) (167,780) (131,021)
Payment of debt issuance costs (366) 0 (512)
Proceeds from issuance of notes payable 50,000 0 60,000
Principal payments on notes payable (50,000) 0 (60,000)
Tax Receivable Agreement Payments 24,998 36,111 30,234
Net proceeds from issuance of common stock 0 21,478 162,494
Payment of costs directly associated with the issuance of Class A common stock 0 (166) (294)
Purchase of equity and subsidiary equity 0 (21,478) (162,494)
Taxes paid related to employee net share settlement (2,078) (2,564) (1,477)
Capital contributions to consolidated investment products, net 3,895 46,572 60,481
Net cash used in financing activities (306,567) (263,483) (218,861)
Net increase (decrease) in cash, cash equivalents and restricted cash (31,280) 55,498 2,390
Net cash impact of deconsolidation of CIPs 0 (39,759) 0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance 175,535 159,796 157,406
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 144,255 175,535 159,796
Cash, cash equivalents and restricted cash      
Cash and cash equivalents 134,621 160,463 137,286
Restricted cash 629 629 629
Cash and Cash Equivalents of Consolidated Investment Products 9,005 14,443 21,881
Noncash activity:      
Establishment of deferred tax assets 35,999 24,679 146,241
Establishment of amounts payable under tax receivable agreements 30,967 20,303 120,320
Increase in investment securities due to deconsolidation of CIPs 0 11,381 0
Operating lease assets obtained in exchange for operating leases 4,162 0 0
Cash paid for:      
Interest on borrowings 10,649 10,694 11,019
Income tax $ 18,593 $ 20,731 $ 25,296