v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net income (loss) $ 6,151 $ 28,052
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Depreciation expense, intangible asset and other amortization 17,670 16,121
Stock-based compensation 5,189 6,734
Equity in earnings of equity method investments (1,073) (980)
Change in fair value of contingent consideration 409 0
Deferred taxes, net 1,397 1,440
Changes in operating assets and liabilities:    
Sales (purchases) of investments, net 15,891 552
Accounts receivable, net and other assets 5,126 10,917
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities (107,160) (121,449)
Operating activities of consolidated investment products ("CIP"):    
Net cash provided by (used in) operating activities 35,901 (3,787)
Cash Flows from Investing Activities:    
Capital expenditures (2,360) (2,984)
Acquisition of business, net of cash acquired of $2.7 million (196,110) 0
Net cash provided by (used in) investing activities (198,470) (2,984)
Cash Flows from Financing Activities:    
Borrowings on credit agreement 50,000 0
Repayments on credit agreement (1,000) (687)
Common stock dividends paid (17,897) (17,146)
Repurchase of common shares (10,000) (20,000)
Payment of contingent consideration (22,621) (23,140)
Taxes paid related to net share settlement of restricted stock units (5,138) (6,109)
Investment management subsidiary equity sales (purchases) 0 (1,053)
Net contributions from (distributions to) noncontrolling interests (13,195) 17,264
Financing activities of CIP:    
Net cash provided by (used in) financing activities (40,899) (174,461)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (278) 509
Net increase (decrease) in cash, cash equivalents and restricted cash (203,746) (180,723)
Cash, cash equivalents and restricted cash, beginning of period 478,186 400,309
Cash, cash equivalents and restricted cash, end of period 274,440 219,586
Non-Cash Investing and Financing Activities:    
Contingent consideration 109,420 0
Common stock dividends payable 16,037 15,550
Reconciliation of cash, cash equivalents and restricted cash    
Cash, cash equivalents and restricted cash at end of period 274,440 219,586
Consolidated Entity excluding Consolidated Investment Products    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Realized and unrealized (gains) losses on investments of CIP, net (814) 957
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net (814) 957
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 136,637  
Consolidated Investment Products    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Realized and unrealized (gains) losses on investments of CIP, net 13,037 4,039
Operating activities of consolidated investment products ("CIP"):    
Realized and unrealized (gains) losses on investments of CIP, net 13,037 4,039
Purchases of investments by CIP (312,406) (327,705)
Sales of investments by CIP 388,968 375,074
Net proceeds (purchases) of short-term investments and securities sold short by CIP (83) (72)
Change in other assets and liabilities of CIP 3,599 2,533
Financing activities of CIP:    
Payments on borrowings by CIP (390,294) (123,590)
Borrowings by CIP 369,246 0
Non-Cash Investing and Financing Activities:    
Increase (decrease) to noncontrolling interests due to consolidation (deconsolidation) of CIP, net 0 $ (3,749)
Reconciliation of cash, cash equivalents and restricted cash    
Cash and cash equivalents 136,831  
Cash pledged or on deposit of CIP $ 972