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v2.4.0.8

Condensed Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified | 9 Months Ended
--- | ---
Sep. 30, 2014 | Sep. 30, 2013
Cash Flows from Operating Activities: |  |
Net Income | $ 78,554 | $ 50,270
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |
Depreciation expense, intangible asset and other amortization | 5,055 | 5,291
Stock-based compensation | 7,021 | 5,983
Excess tax benefits from stock-based compensation | (25,089) |
Amortization of deferred commissions | 14,032 | 10,032
Payments of deferred commissions | (11,761) | (13,993)
Equity in earnings of equity method investments | (295) | (94)
Realized and unrealized gains on trading securities | (1,712) | (1,887)
Realized and unrealized (gains) losses on investments of consolidated sponsored investment products | (1,247) | 2,460
Sales (purchases) of trading securities, net | 24,996 | (1,163)
Purchase of investments by consolidated sponsored investment products, net | (190,123) | (53,531)
Sale of securities sold short by consolidated sponsored investment products, net | 10,461 |
Deferred income taxes | 4,826 | 29,001
Changes in operating assets and liabilities: |  |
Cash pledged or on deposit of consolidated sponsored investment products | (12,492) |
Accounts receivable, net and other assets | (17,776) | (10,083)
Other assets of consolidated sponsored investment products | (481) | (40,944)
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities | 8,424 | 3,786
Liabilities of consolidated sponsored investment products | 5,319 | 40,951
Net cash (used in) provided by operating activities | (102,288) | 26,079
Cash Flows from Investing Activities: |  |
Capital expenditures | (1,814) | (1,654)
Asset acquisitions | (5,000) | (3,364)
Change in cash and cash equivalents of consolidated sponsored investment products due to deconsolidation | (366) | (666)
Purchase of available-for-sale securities | (260) | (145)
Net cash used in investing activities | (7,440) | (5,829)
Cash Flows from Financing Activities: |  |
Contingent consideration paid for acquired investment management contracts | 0 | (420)
Proceeds from issuance of debt by consolidated sponsored investment products | 1,200 |
Dividends paid | (4,104) |
Repurchase of common shares | (26,257) | (19,704)
Proceeds from exercise of stock options | 660 | 478
Taxes paid related to net share settlement of restricted stock units | (9,512) | (7,493)
Proceeds from issuance of common stock, net of issuance costs | 0 | 191,800
Payment on debt and deferred financing costs | 0 | (15,026)
Excess tax benefits from stock-based compensation | 25,089 |
Contributions of noncontrolling interests, net | 24,871 | 11,396
Net cash provided by financing activities | 11,947 | 161,031
Net (decrease) increase in cash and cash equivalents | (97,781) | 181,281
Cash and cash equivalents, beginning of period | 271,545 | 63,446
Cash and Cash Equivalents, end of period | 173,764 | 244,727
Non-Cash Financing Activities: |  |
(Decrease) increase to noncontrolling interest due to (deconsolidation) consolidation of sponsored investment products, net | (44,613) | 4,414
Dividend payable | $ 4,229 |

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- Definition Amount of cash outflow to satisfy an employee's income tax withholding obligation as part of a net-share settlement of a share-based award. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3291-108585 + Details
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- Definition The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3213-108585 + Details
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- Definition The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3213-108585 + Details
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- Definition The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Investing Activities -URI http://asc.fasb.org/extlink&oid=6516133 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 13 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3213-108585 + Details
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- Definition The cash inflow from the additional capital contribution to the entity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585 + Details
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- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585 + Details
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- Definition Amount of cash inflow (outflow) from sales and purchases of trading securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=6871852&loc=d3e26853-111562 + Details
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- Definition Amount of cash inflow (outflow) from (to) a noncontrolling interest. Excludes dividends paid to the noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3291-108585 + Details
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- Definition The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3255-108585 + Details
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585 + Details
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- Definition Contingent Consideration Paid For Acquired Investment Management Contracts + References No definition available. + Details
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- Definition Increase Decrease In Cash Pledged Or On Deposit Of Consolidated Sponsored Investment Products + References No definition available. + Details
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- Definition Increase Decrease In Other Accrued Liabilities Of Consolidated Sponsored Investment Products + References No definition available. + Details
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- Definition Increase Decrease In Other Current Assets Of Consolidated Sponsored Investment Products + References No definition available. + Details
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- Definition Payment On Debt And Deferred Financing Costs + References No definition available. + Details
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- Definition Cash inflows and outflows associated with the acquisition or disposal of investments held by the entity's consolidated sponsored investment products. + References No definition available. + Details
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- Definition Realized And Unrealized Gain Loss On Investments Of Consolidated Sponsored Investment Products Net And Derivatives + References No definition available. + Details
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- Definition Sale Of Securities Sold Short By Consolidated Sponsored Investment Products Net + References No definition available. + Details
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