Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income	$ 148,321	$ 245,536	$ 313,331
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,358	16,050	14,754
Write down of impaired assets	9,749		7,900
Amortization of deferred sales commissions	23,601	43,074	64,380
Share-based compensation	51,514	47,518	54,144
Excess tax benefits from share-based payment arrangements	(2,972)	(4,813)	(19,135)
Investments gain (loss), net	(12,075)	12,412	(7,496)
Net purchases and sales or maturities of trading securities	(24,352)	(75,160)	(38,662)
Deferred income taxes	(3,715)	(1,410)	728
Net change in trading securities held by consolidated sponsored funds	(79,065)
Other	451	680	1,774
Changes in assets and liabilities:
Cash and cash equivalents - restricted	35,743	9,715	44,824
Customer and other receivables	92,565	(3,817)	(75,428)
Payable to investment companies for securities and payable to customers	(97,459)	(5,964)	17,283
Receivables from funds and separate accounts	7,218	4,711	(2,643)
Other assets	2,255	(25,111)	(5,568)
Deferred sales commissions	(3,435)	(10,864)	(40,958)
Accounts payable and payable to third party brokers	(22,948)	(17,510)	21,640
Other liabilities	(20,107)	(1,097)	(5,826)
Net cash provided by operating activities	123,647	233,950	345,042
Cash flows from investing activities:
Purchases of available for sale and equity method securities	(72,096)	(27,388)	(166,302)
Proceeds from sales of available for sale and equity method securities	156,965	36,657	164,247
Additions to property and equipment	(15,691)	(29,610)	(35,606)
Net cash of sponsored funds on consolidation	6,887
Other	(194)	(2,254)	(1,447)
Net cash provided by (used in) investing activities	75,871	(22,595)	(39,108)
Cash flows from financing activities:
Dividends paid	(152,830)	(143,959)	(115,263)
Repurchase of common stock	(49,753)	(80,335)	(131,030)
Net redemptions and distributions to redeemable noncontrolling interests in sponsored funds	(3,473)
Excess tax benefits from share-based payment arrangements	2,972	4,813	19,135
Other	173
Net cash used in financing activities	(202,911)	(219,481)	(227,158)
Net increase (decrease) in cash and cash equivalents	(3,393)	(8,126)	78,776
Cash and cash equivalents at beginning of period	558,495	566,621	487,845
Cash and cash equivalents at end of period	555,102	558,495	566,621
Cash paid for:
Income taxes, net	76,982	152,262	165,189
Interest	$ 10,289	$ 10,297	$ 10,291