Cowen Inc. COWN Cash Flow

Cowen inc. (COWN)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash flows from operating activities:
Net income (loss)
-26,536	55,870	30,937	43,996	62,165	79,879	-12,055	-19,750	-21,171	-37,091	58,004	63,435	7,689	-12,395	15,030	-6,231	31,562	58,975	168,674	185,205	188,171	182,780	43,357	41,198	30,948	17,840	0	0	0	-	-	-	-	-	-	0	0
Net income (loss) from continuing operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-
Adjustments to reconcile net income (loss) to net cash provided by / (used in) operating activities:
Depreciation and amortization
20,946	20,460	17,868	15,925	14,167	12,436	13,024	13,337	13,275	13,078	12,671	12,393	12,674	12,713	12,568	11,695	10,427	9,498	9,736	9,709	9,946	10,188	9,477	9,827	10,054	10,227	0	0	0	-	-	-	-	-	-	-	-
Amortization of debt issuance costs
1,219	1,129	967	1,006	1,075	1,153	1,315	1,309	1,279	1,261	1,250	1,229	1,221	1,208	2,057	1,750	1,163	1,163	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of debt discount
4,358	4,598	4,807	5,021	5,380	5,473	6,011	6,607	7,037	7,435	7,379	7,218	7,060	6,885	6,735	6,587	6,443	6,302	6,118	6,007	5,898	4,685	3,241	1,759	311	0	0	0	0	-	-	-	-	-	-	-	-
Noncash lease expense
-2,542	-2,148	-2,607	-1,632	-806	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess Tax Benefit from Share-based Compensation, Operating Activities
-	-	-	-	-	-	-	-	-	-	-	-	-	822	672	632	-1,755	-3,806	-5,038	-5,018	-2,860	-1,324	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	26,412	27,313	26,961	26,864	0	0	0
Share-based compensation
34,382	33,918	36,606	35,119	34,594	37,018	31,377	29,618	29,905	28,443	31,470	30,908	28,395	26,039	24,800	23,906	24,001	21,740	20,222	18,690	17,659	18,297	18,398	18,899	17,963	17,915	18,009	20,751	23,592	24,784	28,650	27,748	27,104	28,308	0	0	0
Change in deferred taxes
-9,360	-13,295	-9,266	-10,530	-10,624	-15,486	-53,457	-51,608	-51,189	-45,856	7,322	2,091	17,108	21,274	22,829	34,599	24,013	17,966	132,774	128,073	127,061	130,724	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Deferred rent obligations
-	-	-	-	-	-3,036	-3,221	-2,956	-2,855	-2,192	-1,749	-653	-1,212	-880	-854	-1,282	-2,577	-2,333	-2,832	-2,824	-2,176	-2,348	-2,932	-3,262	568	-3,770	0	0	0	-	-	-	-	-	-	-	-
Deferred rent obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0
Net loss (gain) on disposal of fixed assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-54	-1,318	-1,388	-1,388	-1,575	-371	-278	-531	-410	-380	-380	-127	-30	0	0	0	-	-	-	-
Goodwill Impairment
-	-	-	-	-	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability
-	-	-	-	-	-	-	-	-	-	-	-	-	2,139	1,939	1,935	-2,335	-200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of securities owned, at fair value
2,557,794	2,107,956	2,099,067	2,205,783	2,187,377	3,830,757	4,638,131	5,037,009	5,671,413	4,943,394	4,875,736	4,830,663	4,406,158	4,483,975	4,256,156	5,327,421	6,122,806	5,856,112	6,010,943	5,218,683	4,662,376	4,722,554	4,178,544	4,964,224	6,571,812	6,765,271	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sales of securities owned, at fair value
2,499,174	2,042,946	1,985,757	2,004,979	2,362,225	4,032,937	4,841,298	5,283,214	5,868,086	5,131,938	4,894,294	4,855,764	4,507,598	4,447,094	4,656,219	5,625,118	6,050,763	6,039,719	5,815,450	5,042,417	4,596,975	4,272,785	3,892,284	4,837,805	6,530,884	7,057,506	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sales of securities sold, not yet purchased, at fair value
1,336,963	1,360,075	1,563,770	1,645,005	1,957,794	2,794,434	2,778,948	2,928,323	3,022,069	2,455,876	2,483,734	2,476,745	2,658,366	3,016,934	3,070,123	3,480,904	3,274,296	2,730,939	2,625,628	2,297,161	2,150,334	1,992,965	1,693,750	1,857,998	2,410,623	2,740,372	0	0	0	-	-	-	-	-	-	-	-
Purchases of securities owned, at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0
Proceeds from sales of securities owned, at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0
Proceeds from sales of securities sold, not yet purchased, at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0
Payments to cover securities sold, not yet purchased, at fair value
1,380,821	1,408,043	1,633,561	1,577,372	1,902,953	2,927,916	2,878,301	2,953,977	3,157,020	2,444,010	2,411,037	2,644,066	2,817,361	3,054,869	3,176,778	3,363,694	2,992,340	2,674,153	2,570,097	2,337,189	2,162,489	1,898,102	1,584,624	1,817,453	2,456,435	2,774,696	3,263,881	3,654,553	4,039,702	4,388,039	4,889,422	4,521,916	4,273,143	4,553,832	0	0	0
Proceeds from other investments
36,050	23,886	22,537	14,461	13,686	10,157	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (gains) losses on securities, derivatives and other investments
3,925	74,284	49,913	68,109	78,428	54,032	63,905	56,470	52,734	78,303	81,497	86,679	59,535	28,878	25,482	-27,637	-1,330	34,495	91,551	114,787	123,503	97,013	49,392	64,750	45,354	44,741	43,397	35,904	37,135	43,443	0	0	0	-	-	-	-
Consolidated Funds
Purchases of securities owned, at fair value
3,075,952	2,725,439	2,446,660	2,002,453	1,413,400	887,728	580,974	554,758	470,529	385,544	315,329	229,378	169,861	113,653	73,187	47,056	32,355	25,000	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of securities owned, at fair value
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	414,877	426,533	336,412	366,388	361,049	398,188	440,590	480,251	0	0	0
Net (gains) losses on securities, derivatives and other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Purchases of securities owned, at fair value, Consolidated Funds
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds from sales of securities owned, at fair value
3,043,836	2,618,200	2,223,735	1,771,104	1,225,452	835,002	588,388	551,797	457,574	338,268	287,308	202,044	127,837	73,011	27,010	1,517	878	0	0	0	0	-	-	-	-	287,412	403,655	407,449	339,007	369,209	362,204	402,145	445,487	482,630	0	0	0
Purchases of other investments
4,352	3,408	4,219	4,219	3,050	2,835	1,414	18,992	17,709	26,206	26,206	9,019	18,447	221,897	235,711	237,610	303,348	92,305	78,659	76,402	14,714	19,736	23,092	23,059	9,531	4,497	2,485	3,636	6,479	9,785	11,521	14,377	14,535	18,356	0	0	0
Proceeds from other investments
29,449	23,954	24,592	238,438	227,959	231,559	243,990	43,678	54,853	64,867	54,739	36,163	31,049	17,116	26,781	38,737	27,427	31,417	31,580	22,220	22,059	34,225	39,045	52,719	55,532	56,873	47,471	51,355	52,843	42,071	54,848	51,687	76,262	127,664	0	0	0
Purchases of other investments, Consolidated Funds
4,352	3,408	4,219	4,219	3,050	2,835	1,414	18,992	17,709	26,206	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Proceeds from sales of other investments, Consolidated Funds
29,449	23,954	24,592	238,438	227,959	231,559	243,990	43,678	54,853	64,867	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net realized and unrealized (gains) losses on investments and other transactions
2,520	90,900	46,209	27,675	48,812	52,807	43,367	41,613	35,433	28,267	56,320	70,784	28,785	17,402	11,308	-12,523	8,538	13,552	11,815	14,696	18,242	16,386	12,744	15,788	10,391	14,153	18,619	10,755	8,960	8,608	5,735	4,256	11,952	4,746	0	0	0
(Increase) decrease in operating assets:
Cash at Deconsolidation entity
-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash acquired upon transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Net realized and unrealized (gains) losses on investments and other transactions, Consolidated Funds
2,520	90,900	46,209	27,675	48,812	52,807	43,367	41,613	35,433	28,267	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Cash collateral pledged
-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,654	4,522	1,234	1,779	267	521	-2,346	-2,601	-2,037	-2,162	364	-135	-252	-248	-715	-625	-495	-544	-3	25	0	0	0
Securities owned, at fair value, held at broker-dealer
171,104	990,356	183,571	170,010	176,868	57,732	168,751	59,533	58,685	102,137	49,083	149,556	55,264	17,005	31,867	-17,104	-9,717	-14,877	-12,457	11,329	-9,917	3,939	-11,302	-14,901	-31,004	-20,080	9,086	-22,400	3,820	-34,632	-113,063	-248,674	-167,081	-152,080	0	0	0
Receivable on derivative contracts, at fair value
61,873	37,522	7,525	7,024	-13,250	-44,053	124	-5,633	16,776	46,277	4,678	5,858	-27,587	-16,717	-14,160	-55,130	-11,229	-10,259	5,622	35,058	6,878	4,092	-11,309	-10,601	-4,793	-10,673	0	0	0	-	-	-	-	-	-	-	-
Securities borrowed
4,573	346,646	514,748	842,245	368,767	-35,353	341,921	447,276	339,769	184,827	0	0	0	-	-	-	-	-676,100	-2,321,556	-2,252,521	-1,319,938	-251,673	1,420,754	1,672,614	861,989	521,447	372,948	52,053	-69,905	-121,528	0	0	0	-	-	-	-
Deposits with clearing organizations, brokers and banks
22,638	2,332	-7,196	3,067	7,911	-4,573	14,485	6,508	35,815	32,460	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable from brokers, dealers and clearing organizations
110,245	-104,418	73,242	-50,512	100,731	277,935	397,256	531,434	348,723	366,297	115,527	-34,342	35,157	-31,795	-48,026	32,210	727	20,785	14,108	-53,673	50,410	15,533	27,579	96,370	4,032	-5,218	-45,042	1,478	-22,697	1,365	-18,141	-110,099	-166,060	-127,995	0	0	0
Receivable from customers, net of allowance
156,290	67,789	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable from customers, net of allowance
-	-	-	-	-	-	-	-	-2,497	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fees receivable, net of allowance
26,982	7,143	-17,517	-19,231	-13,711	6,401	7,041	28,371	56,623	29,669	28,935	35,908	9,915	12,632	-5,515	-24,249	-23,928	-11,099	9,859	23,932	8,443	1,406	4,237	4,067	20,882	9,975	10,813	17,371	10,603	5,642	141	-4,053	-10,876	-9,041	0	0	0
Due from related parties
-4,039	-7,120	-4,660	-3,819	-1,559	-1,405	-5,358	-7,886	-12,852	-4,815	4,868	4,933	8,603	176	6,536	7,804	10,457	13,344	-2,803	-1,393	-4,170	109	3,058	5,794	9,268	5,888	0	0	0	-	-	-	-	-	-	-	0
Due from related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Other assets
-268	6,501	9,518	34,279	15,733	-6,017	-14,534	-5,164	5,193	33,454	18,017	13,466	18,990	10,048	17,947	15,269	3,112	-4,580	8,904	15,486	11,944	13,687	-7,331	-1,454	-2,806	-2,818	4,317	-7,594	-4,456	-10,056	-19,730	-10,678	7,396	1,388	0	0	0
Consolidated Funds
Cash and cash equivalents
37,543	-7,299	-15,438	-9,725	1,828	19,501	10,962	-18,009	-6,627	4,227	786	26,465	-2,055	3,827	-6,255	6,964	11,705	13,433	16,257	641	-1,182	-1,547	-1,120	-406	-1,995	-1,511	-404	436	1,265	2,326	765	-1,418	-10,753	-6,913	0	0	0
Receivable on derivative contracts, at fair value
14,108	1,417	1,974	2,816	1,318	1,896	869	623	957	1,627	613	955	784	893	429	60	125	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Receivable from brokers
-18,883	17,636	6,890	10,586	35,638	2,684	2,683	-772	-5,376	-334	3,001	9,710	9,289	5,978	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other assets
-22,203	159	375	1,410	22,936	538	252	127	-72	-123	-710	-895	-883	-152	346	799	718	-770	-34	-242	-2	-4,187	233	340	-5,814	5,528	282	-76	6,243	-1,370	-1,284	-1,056	-1,649	-469	0	0	0
Increase (decrease) in operating liabilities:
Other assets, Consolidated Funds
-22,203	159	375	1,410	22,936	538	252	127	-72	-123	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Securities sold, not yet purchased, at fair value, held at broker dealer
9,125	277,119	71,019	172,946	269,529	26,232	166,179	-28,265	37,076	19,226	-14,894	86,972	36,073	7,160	17,341	-12,128	-33,927	-11,747	-8,928	-33,225	23,760	-21,633	-21,528	37,357	-28,668	-10,994	12,103	-15,904	-18,106	8,322	-38,447	-199,504	-136,742	-157,134	0	0	0
Securities sold under agreement to repurchase
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,657	-6,311	-6,311	-29,241	-162,288	-117,528	-228,647	-264,950	-62,838	-14,998	65,519	138,519	36,618	0	0	0
Payable for derivative contracts, at fair value
28,802	44,679	2,752	-1,429	23,681	2,305	9,271	3,519	11,345	-1,399	9,296	11,085	-10,991	-421	-9,057	-52,240	-19,092	-20,147	-5,291	13,743	-5,807	-2,055	-13,473	3,792	1,173	-2,374	0	0	0	-	-	-	-	-	-	-	-
Securities loaned
145,591	1,187,014	791,018	1,058,520	389,349	-41,979	133,672	292,032	176,495	170,472	0	0	0	-	-	-	-	-682,493	-2,324,682	-2,250,562	-1,310,903	-236,084	1,431,361	1,670,388	853,036	509,605	349,952	36,805	-85,502	-134,397	0	0	0	-	-	-	-
Payable to brokers, dealers and clearing organizations
155,564	42,287	60,686	369	-73,089	-23,422	54,223	-27,291	48,886	-32,440	-45,397	184,354	100,614	78,520	-201,749	-360,514	-204,235	-204,186	80,200	182,568	74,995	258,587	97,866	43,307	62,748	-113,023	-52,504	-83,012	-74,870	-23,102	-133,499	-94,432	-35,414	46,169	0	0	0
Payable to customers
75,764	-94,929	54,589	-92,420	404	172,686	267,749	406,117	330,365	340,666	190,926	102,648	70,480	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Commission management payable
9,054	-23,650	-1,109	4,559	23,829	24,819	12,382	-312	-7,732	-15,857	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Compensation payable
-36,133	-38,954	-61,842	-25,912	-25,257	64,456	80,637	40,749	10,454	9,150	846	25,295	-2,872	-60,279	-52,049	-83,700	-52,608	5,540	28,000	39,296	27,927	78,264	29,620	16,959	13,311	-13,036	-16,744	-26,111	-23,251	-29,047	-12,026	-9,848	-6,096	-12,107	0	0	0
Fees payable
9,823	-1,025	11,367	22,272	-7,891	14,518	10,765	12,924	5,940	-639	-558	2,747	6,130	-2,366	-12,659	-4,189	-19,937	-693	8,996	-2,432	10,714	-129	1,954	5,520	7,385	1,047	2,535	-3,263	-5,948	-985	2,205	56	28	-3,772	0	0	0
Due to related parties
-759	-5,320	-4,402	-4,649	-4,534	1	4	0	-29	-3	310	310	339	244	-63	-95	-164	-145	-93	-18	-10	92	-53	-150	-210	-280	0	0	0	-	-	-	-	-	-	-	0
Due to related parties
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-
Accounts payable, accrued expenses and other liabilities
11,814	-3,148	13,517	29,197	13,802	17,723	-4,536	-2,785	13,005	13,046	6,498	4,932	260	-9,133	5,887	8,634	1,942	-5,337	-6,892	-835	909	7,375	3,138	-2,895	-13,588	-13,404	-18,488	-15,305	-6,039	-12,954	2,776	-2,662	254	6,652	0	0	0
Consolidated Funds
Contributions received in advance
0	-	-	-	0	-	-	-	718	-2,000	0	0	-2,648	1,150	-5,000	0	2,600	850	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payable to brokers
-12,640	-22,657	13,230	9,134	12,287	22,770	525	-6,277	-134	-2,949	-1,721	7,537	-565	3,699	3,131	731	2,314	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payable for derivative contracts, at fair value
12,509	3,106	5,589	1,571	3,577	-5,467	442	425	1,104	6,558	1,471	620	874	572	0	0	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Due To Related Parties, Consolidated Funds
0	-	-	-	0	-	-	-	-	-189	0	0	-1	453	-733	267	268	3	0	0	0	-	-	-	-	-	-	-	-	25	25	25	25	0	0	0	0
Accounts payable, accrued expenses and other liabilities
464	-129	-20	0	85	369	313	207	-46	-330	-196	18	-390	528	121	-22	542	-98	195	282	-1,290	-327	-60	-87	1,288	146	-877	-429	48	149	806	-93	-523	-1,582	0	0	0
Net cash provided by / (used in) operating activities
-	-	-	-	-	-	-	-	-	-	-	0	-67,279	-	-229,339	-266,671	-368,542	-68,605	-168,643	-136,234	-35,879	-63,781	-45,342	-42,282	-2,749	150,582	0	0	0	-	-	-	-	-	-	-	-
Due to related parties, Consolidated Funds
0	-	-	-	0	-	-	-	-	-189	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Accounts payable, accrued expenses and other liabilities, Consolidated Funds
464	-129	-20	0	85	369	313	207	-46	-330	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net Cash Provided by (Used in) Operating Activities
-128,737	-179,910	-128,105	69,369	229,652	324,176	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Cash flows from investing activities:
Securities purchased under agreement to resell
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	166,260	238,149	-147,241	-58,887	-68,505	0	0	0
Purchases of other investments
32,000	19,812	22,636	17,378	22,079	28,092	-41,060	-29,721	16,960	10,419	80,931	69,197	22,533	33,786	29,579	30,545	24,576	14,149	11,703	28,183	40,829	81,597	80,778	69,750	61,398	20,031	29,963	23,214	13,568	14,848	9,090	24,603	32,122	61,364	0	0	0
Purchase of business
0	48,581	48,581	48,581	48,581	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to acquire loan held for investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Cash convertible note economic hedge transaction
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Proceeds from sales of other investments
41,370	35,648	21,155	18,354	14,848	18,782	-30,651	-14,083	65,840	71,749	142,384	130,515	64,311	54,068	50,612	44,740	29,053	58,166	43,818	53,085	105,519	82,072	79,844	71,481	25,959	29,890	29,930	29,371	19,579	13,298	10,219	21,179	26,993	53,317	0	0	0
Payments to Acquire Loans Receivable
-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from loans held for investment
-13	0	-1,396	1	17	14	1,413	816	2,013	3,203	4,400	4,800	4,800	42,800	41,600	40,400	39,200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of fixed assets
15,683	14,882	9,738	10,855	9,119	8,586	9,640	5,208	6,987	5,986	3,756	3,094	3,380	15,613	16,752	20,298	19,112	7,030	525	-2,207	-1,754	2,224	7,247	6,444	5,183	1,141	991	1,372	1,694	1,902	2,448	3,360	4,441	6,539	0	0	0
Net Cash Provided by (Used in) Investing Activities
-6,326	-47,627	-61,196	-58,459	-61,864	-17,882	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Proceeds from Convertible Debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	149,500	149,500	149,500	149,500	0	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by / (used in) investing activities
-	-	-	-	-	-	-	-	-	-	-	0	54,243	-	-12,554	-56,377	-44,851	-47,429	15,414	25,869	51,444	-37,459	-42,651	-39,183	-76,332	8,718	0	0	0	-	-	-	-	-	-	-	-
Cash flows from financing activities:
Repayments on convertible debt
0	20,860	20,860	20,860	34,360	13,500	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred debt issuance cost
-	-	-	-	-	3,985	11,161	11,059	7,280	7,176	0	0	0	-	-	-	-	-	-	-	-	6,650	3,720	3,720	3,643	0	0	0	0	-	-	-	-	-	-	-	-
Proceeds from Issuance of Warrants
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,218	15,218	15,218	15,218	0	0	0	0	-	-	-	-	-	-	-	-
Borrowings on notes and other debt
148,598	87,365	84,640	52,041	15,900	102,382	241,793	244,927	256,962	171,148	31,737	31,666	10,813	30,638	35,638	35,709	27,072	7,140	61,315	61,315	61,315	65,392	6,217	6,217	6,217	2,044	2,044	2,044	2,044	0	0	0	0	-	-	-	-
Repayments on notes and other debt
10,802	10,263	17,874	18,665	15,520	16,601	0	0	72,728	-	10,300	30,639	30,644	29,800	28,989	3,364	2,929	3,299	3,369	3,440	3,520	3,627	3,719	3,836	3,953	3,613	3,191	2,524	1,940	1,518	1,506	1,762	25,430	26,576	0	0	0
Purchase of treasury stock
28,577	15,217	25,152	28,979	28,836	31,762	36,425	19,245	27,246	19,662	1,640	12,919	4,083	7,654	12,995	32,123	45,044	48,678	50,408	37,309	29,832	26,038	27,401	23,795	15,908	12,732	5,244	6,557	10,168	10,838	11,389	15,881	12,270	11,365	0	0	0
Cash dividends paid
1,428,000.00	-	-	-	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash conversion liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,710	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends
6,792	6,792	0	0	0	-	-	-	-	6,792	0	0	6,792	-	6,811	6,716	5,773	4,075	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingent liability payment
781	1,234	1,235	1,462	2,032	797	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid to acquire net assets (contingent liability payment)
-	-	-	-	-	-	-	-	-	-	-	0	-2,525	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid to acquire net assets (contingent liability payable)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Capital contributions by redeemable non-controlling interests in operating entities
9,371	11,110	11,110	11,851	2,766	941	941	200	200	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid to acquire net assets (contingent payable)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-
Capital withdrawals to redeemable non-controlling interests in operating entities
3,901	3,785	2,802	3,007	2,607	2,774	2,235	2,513	3,632	5,178	4,628	5,629	6,787	6,995	12,652	13,281	11,670	13,860	6,907	10,071	9,236	8,279	10,351	6,182	6,126	3,058	2,732	1,707	1,557	3,167	5,717	5,267	7,051	5,009	0	0	0
Consolidated Funds
Capital contributions by redeemable non-controlling interests in Consolidated Funds
314,364	267,049	303,193	286,612	265,953	114,064	82,084	101,600	102,673	117,812	100,516	80,192	82,479	276,914	258,156	265,202	318,787	104,533	83,265	71,403	7,108	9,736	13,093	14,535	20,387	14,680	11,155	9,680	300	0	0	0	534	4,038	0	0	0
Capital withdrawals to redeemable non-controlling interests in Consolidated Funds
260,043	111,650	95,203	276,822	248,161	276,357	285,211	101,894	99,487	65,803	54,035	27,640	22,423	10,144	11,272	13,675	9,188	11,514	11,434	8,125	8,141	16,911	17,181	21,891	28,402	22,873	21,260	21,812	17,057	15,065	15,446	17,857	27,152	55,507	0	0	0
Capital contributions by non-controlling interest in Consolidated Funds
314,364	267,049	303,193	286,612	265,953	114,064	82,084	101,600	102,673	117,812	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Capital withdrawals to non-controlling interest in Consolidated Funds
260,043	111,650	95,203	276,822	248,161	276,357	285,211	101,894	99,487	65,803	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Net Cash Provided by (Used in) Financing Activities
164,724	200,438	234,337	-873	-52,476	-128,389	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Net cash provided by / (used in) financing activities
-	-	-	-	-	-	-	-	-	-	-	0	26,533	-	224,856	234,227	384,520	143,757	179,917	181,060	17,536	176,029	114,942	119,596	103,695	-188,118	0	0	0	-	-	-	-	-	-	-	-
Change in cash and cash equivalents
29,661	-27,099	45,036	10,037	115,312	177,905	87,874	50,438	170,254	138,852	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in cash and cash equivalents
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17,037	-88,821	-28,873	27,723	26,688	70,695	33,101	74,789	26,949	38,131	24,614	-28,818	-16,559	-43,188	-31,253	-45,337	-27,744	-30,106	41,953	92,521	0	0	0
Supplemental information
Cash paid during the year for interest
166,615	145,877	126,835	104,042	87,400	90,843	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash paid during the year for taxes
3,829	4,310	2,834	5,228	4,600	3,881	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of treasury stock, at cost, through net settlement
13,371	15,217	26,186	15,949	12,071	12,310	9,000	8,986	12,344	11,889	11,475	11,552	9,278	8,835	9,144	8,949	10,142	8,907	8,595	8,819	6,507	5,649	6,103	6,191	5,391	3,649	4,492	4,955	4,165	3,988	0	0	0	-	-	-	-
Net assets (liabilities) acquired upon acquisition (net of cash)
-	90,727	90,727	90,727	90,727	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncash transfer of net assets from Unconsolidated Master Fund to Consolidated Fund
-	97,655	97,655	97,655	106,475	8,820	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net decrease in redeemable non-controlling interests in Consolidated Funds due to deconsolidation of consolidated fund
-	-	-	-	-	32,559	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non compete agreements and covenants with limiting conditions acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	627	627	627	167	0	0	0	-	-	-	-
Common stock issuance upon close of acquisition
618	14,446	14,446	14,446	14,446	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,240	6,297	6,297	6,297	0	0	0	0	-	-	-	-
ProceedsFromSecuritiesSoldNotYetPurchasedAtFairValue,ConsolidatedFunds
-	-	-	-	-	-	-	-	-	217	217	217	394	2,226	2,226	2,226	2,049	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments to Acquire Securities Sold Not Yet Purchased at Fair Value, Consolidated Funds
-	-	-	-	-	-	-	-	-	899	1,600	1,751	1,843	1,799	1,098	947	855	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash Acquired from Acquisition
-	-	-	-	-	-	-	-	-	159,587	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	10,747	0	0	0	-	-	-	-	-	-	-	-
Net assets of consolidated entities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,521	18,521	18,521	22,543	3,470	0	0	0
Net assets of deconsolidated entities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	17,104	17,104	17,104	17,104	0	0	0	0
Excess Tax Benefit from Share-based Compensation, Financing Activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-822	-672	-632	1,755	3,806	5,038	5,018	2,860	1,324	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-