v3.26.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities    
Net income $ 251,544 $ 120,709
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for deferred income taxes 12,971 19,443
Depreciation and amortization 41,161 29,226
Deferred financing costs, accretion expense and derivative gains/losses (1,557) (6,172)
Share-based and deferred compensation 41,340 17,638
Change in fair value of contingent consideration obligations 5,578 4,498
Unrealized appreciation on investments (7,932) (3,503)
Noncash lease expense 171 202
Loss on debt extinguishment 2,028 0
Changes in operating assets and liabilities:    
Receivables (63,189) (58,970)
Prepaid expenses (6,351) 2,067
Other assets 170 1,331
Accounts payable and accrued expenses 3,404 (1,361)
Accrued compensation and benefits (3,068) (27,697)
Other liabilities (19,891) (22,909)
Net cash provided by operating activities 256,379 74,502
Cash flows from investing activities    
Purchases of property and equipment (2,087) (2,479)
Purchases of investments (47,845) (30,400)
Sales of investments 63,499 57,423
Cash acquired from acquisition 0 53,572
Net cash provided by investing activities 13,567 78,116
Cash flows from financing activities    
Issuance of common stock 2,281 1,380
Repurchase of common stock (218,673) (26,415)
Payments of taxes related to net share settlement of equity awards (19,224) (9,581)
Payment of debt financing fees (309) 0
Payments of long-term senior debt (311,506) 0
Proceeds from long-term senior debt 306,581 0
Payment of dividends (82,655) (73,630)
Payment of consideration for acquisition (39,943) (63,733)
Net cash used in financing activities (363,448) (171,979)
Effect of changes of foreign exchange rate on cash and cash equivalents (62) 500
Net decrease in cash and cash equivalents (93,564) (18,861)
Cash and cash equivalents, beginning of period 163,690 126,731
Cash and cash equivalents, end of period 70,126 107,870
Supplemental cash flow information    
Cash paid for interest 27,760 33,361
Cash paid for income taxes 74,667 43,338
Non-Cash investing and financing activities:    
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities $ 2,228 $ 34,992
Issuance of 3.3 million shares of Common stock and 19.7 million shares of Preferred stock in connection with the acquisition of Amundi US 0 1,328,339