Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income	$ 125,845	$ 182,616
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	13,163	12,218
Write down of impaired assets	5,700
Amortization of deferred sales commissions	21,842	34,251
Share-based compensation	38,573	35,880
Excess tax benefits from share-based payment arrangements	(2,234)	(5,357)
Investments gain, net	(13,834)	(2,799)
Net purchases and sales or maturities of trading securities	(24,353)	59
Deferred income taxes	4,840	(2,384)
Net change in trading securities held by consolidated sponsored funds	(57,444)
Other	525	17,965
Changes in assets and liabilities:
Cash and cash equivalents - restricted	44,816	36,990
Customer and other receivables	67,338	44,219
Payable to investment companies for securities and payable to customers	(131,120)	(84,815)
Receivables from funds and separate accounts	8,729	5,782
Other assets	(2,826)	(14,771)
Deferred sales commissions	(2,859)	(9,093)
Accounts payable and payable to third party brokers	(21,738)	(24,622)
Other liabilities	(8,904)	4,434
Net cash provided by operating activities	66,059	230,573
Cash flows from investing activities:
Purchases of available for sale and equity method securities	(71,852)	(25,893)
Proceeds from sales of available for sale and equity method securities	148,373	30,363
Additions to property and equipment	(13,933)	(20,635)
Net cash of sponsored funds on consolidation	6,887
Other	(194)	(2,200)
Net cash provided by (used in) investing activities	69,281	(18,365)
Cash flows from financing activities:
Dividends paid	(114,736)	(108,249)
Repurchase of common stock	(47,984)	(63,277)
Net subscriptions from (redemptions and distributions to) redeemable noncontrolling interests in sponsored funds	(3,695)
Excess tax benefits from share-based payment arrangements	2,234	5,357
Other	130
Net cash used in financing activities	(164,051)	(166,169)
Net increase (decrease) in cash and cash equivalents	(28,711)	46,039
Cash and cash equivalents at beginning of period	558,495	566,621
Cash and cash equivalents at end of period	$ 529,784	$ 612,660