v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net Income Including the Noncontrolling Interests in Subsidiaries $ 202,760 $ 200,567
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities    
Depreciation and Amortization 13,291 11,053
Share-Based Compensation Expense 18,518 17,509
(Gain) Loss on Disposal of Assets (3,703) (3,232)
Provision (Benefit) for Deferred Income Taxes (552) (849)
Net Unrealized (Gain) Loss on Investments (7,316) (8,943)
Net Sales (Purchases) of Investments—Consolidated Investment Companies (31,773) (83,444)
Other Changes in Assets and Liabilities:    
(Increase) Decrease in Receivables, net (5,278) (5,507)
(Increase) Decrease in Prepaid Expenses and Other Assets (4,132) (3,748)
Increase (Decrease) in Accounts Payable and Accrued Expenses (68,608) (79,061)
Increase (Decrease) in Other Liabilities (3,480) (11,259)
Net Cash Provided (Used) by Operating Activities 109,727 33,086
Investing Activities    
Purchases of Investments—Affiliates and Other (7,567) (2,738)
Cash Paid for Business Acquisitions, Net of Cash Acquired (213,025) (12,755)
Proceeds from Redemptions of Investments—Affiliates and Other 11,535 5,735
Cash Paid for Property and Equipment (6,039) (1,758)
Other Investing Activities 0 (6,028)
Net Cash Provided (Used) by Investing Activities (215,096) (17,544)
Financing Activities    
Dividends Paid (54,735) (52,151)
Purchases of Treasury Stock (128,733) (185,655)
Distributions to Noncontrolling Interests in Subsidiaries (13,881) (21,903)
Contributions from Noncontrolling Interests in Subsidiaries 22,831 90,440
Other Financing Activities 305 8
Net Cash Provided (Used) by Financing Activities (174,213) (169,261)
Effect of Exchange Rates on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (2,513) 17,622
Net Increase (Decrease) in Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (282,095) (136,097)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning of Period 584,381 507,567
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, End of Period 302,286 371,470
Less: Restricted Cash and Restricted Cash Equivalents Recorded in Other Long-Term Assets 559 483
Cash and Cash Equivalents $ 301,727 $ 370,987