v3.25.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net Income $ 135,601 $ 106,403
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities    
Equity-Based Compensation Expense 138,250 119,245
Depreciation and Amortization Expense 6,494 6,610
Amortization of Operating Lease Right-of-Use Assets 8,862 7,899
Provision for Credit Losses 2,679 4,627
Other (5,234) 651
Cash Flows Due to Changes in Operating Assets and Liabilities    
Accounts Receivable (32,697) (86,137)
Other Assets 522 705
Accrued Compensation and Benefits (147,730) (5,375)
Accounts Payable, Accrued Expenses and Other Liabilities 7,033 (420)
Taxes Payable (1,117) (965)
Deferred Revenue 1,825 1,532
Net Cash Provided by Operating Activities 114,488 154,775
Investing Activities    
Purchases of Investments (81,848) (185,460)
Proceeds from Sales and Maturities of Investments 42,526 80,221
Purchases of Furniture, Equipment and Leasehold Improvements (13,500) (955)
Net Cash Used in Investing Activities (52,822) (106,194)
Financing Activities    
Dividends (12,351) (12,211)
Tax Distributions (597) (5,387)
Employee Taxes Paid for Shares Withheld (54,190) (27,841)
Cash-Settled Exchanges of Partnership Units (81,252) (30,282)
Treasury Stock Purchases (190,500) (162,538)
Payments Pursuant to Tax Receivable Agreement (410) (509)
Net Cash Used in Financing Activities (339,300) (238,768)
Effect of Exchange Rate Changes on Cash and Cash Equivalents 8,372 (1,153)
Net Decrease in Cash and Cash Equivalents (269,262) (191,340)
Cash and Cash Equivalents, Beginning of Period 483,877 355,543
Cash and Cash Equivalents, End of Period 214,615 164,203
Supplemental Disclosure of Cash Flows Information    
Payments for Income Taxes, Net of Refunds Received $ 8,082 $ 3,181