v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 123,306 $ 92,277
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Amortization of deferred expenses and share-based incentive compensation 237,536 258,336
Noncash lease expense 33,512 32,824
Depreciation and amortization of property 17,070 18,319
Deferred tax benefit (17,834) (14,675)
Other adjustments (5,182) 0
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:    
Receivables-net 53,156 31,521
Investments (26,292) 90,016
Other assets 2,241 (100,124)
Accrued compensation and benefits and other liabilities (585,359) (322,239)
Net cash provided by (used in) in operating activities (167,846) 86,255
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property (25,510) (13,061)
Disposals of property 0 1,928
Purchase of investments 0 (98,350)
Other investing activities (23,504) 0
Net cash used in investing activities (49,014) (109,483)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from (payments for) customer deposits, net 35,282 10,840
Proceeds from:    
Issuance of senior debt, net of expenses 0 396,010
Contributions from noncontrolling interests 1,361 232
Payments for:    
Extinguishment of senior debt 0 (233,073)
Distributions to noncontrolling interests (112) (2,005)
Tax receivable agreement 0 (30,950)
Purchase of common stock (39,928) (40,816)
Common stock dividends (92,024) (88,731)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements (103,014) (61,593)
LFI Consolidated Funds redemptions (21,657) (35,141)
Other financing activities (11,456) (8,898)
Net cash used in financing activities (231,548) (94,125)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 87,348 (23,177)
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (361,060) (140,530)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1 1,609,368 1,224,983
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—June 30 $ 1,248,308 $ 1,084,453