XML 18 R7.htm IDEA: XBRL DOCUMENT v3.24.2
Consolidated Statements of Cash Flows (unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 21,141,773 $ 24,271,996
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation 638,772 654,971
Share-based compensation 6,267,522 5,915,199
Increase in accounts receivable (994,977) (1,629,081)
Change in current income taxes 329,659 739,586
Change in deferred income taxes 1,257,913 1,826,918
Net gains on investments (6,967,386) (12,118,180)
Net change in securities held by Consolidated Fund 0 (4,013,615)
Decrease in accrued incentive compensation (14,933,847) (18,806,944)
Increase in deferred compensation 587,524 2,469,535
Other changes in assets and liabilities (410,874) (1,196,020)
Net cash provided by (used in) operating activities 6,916,079 (1,885,635)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchase of property and equipment (139,900) (21,705)
Purchase of Company sponsored investments (8,723,131) (5,827,496)
Proceeds from sale of Company sponsored investments 9,432,334 4,424,864
Net cash provided by (used in) investing activities 569,303 (1,424,337)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Value of common shares withheld related to employee tax withholding (4,539,691) (4,173,781)
Payment of dividends (8,380,253) (9,009,648)
Net subscriptions received from redeemable noncontrolling interest holders 0 6,485,835
Repurchases of common shares (18,363,296) (14,865,784)
Proceeds received under employee stock purchase plan 255,542 335,044
Net cash used in financing activities (31,027,698) (21,228,334)
CASH AND CASH EQUIVALENTS    
Net change during the period (23,542,316) (24,538,306)
At beginning of period 46,991,879 63,195,302
At end of period 23,449,563 38,656,996
Supplemental cash flow information:    
Income taxes paid $ 6,417,179 $ 6,248,696