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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
NET INCOME (LOSS) $ 40,224 $ (15,199)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property 9,134 11,144
Noncash lease expense 16,278 15,155
Amortization of deferred expenses and share-based incentive compensation 121,410 108,254
Amortization and other acquisition-related costs 68 48
Deferred tax provision (benefit) (12,836) 40,235
Benefit pursuant to tax receivable agreement 0 (40,435)
Impairment of equity method investments and other receivables 0 22,981
Loss on LGAC liquidation 0 17,929
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:    
Receivables-net 6,694 (43,689)
Investments 62,208 (160,276)
Other assets (88,231) (7,717)
Accrued compensation and benefits and other liabilities (244,935) (359,848)
Net cash used in operating activities (89,986) (411,418)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property (6,619) (4,612)
Disposals of property 12 2
Acquisition of business, net of cash acquired 0 (10,516)
Net cash used in investing activities (6,607) (15,126)
Proceeds from:    
Issuance of senior debt, net of expenses 396,000 0
Customer deposits, net 90,815 0
Contributions from noncontrolling interests 181 50
Payments for:    
Extinguishment of senior debt (233,073) 0
Customer deposits, net 0 (239,051)
Distributions to noncontrolling interests (1,189) (2,042)
Tax receivable agreement 0 (32,191)
Distribution to redeemable noncontrolling interests in connection with LGAC redemption 0 (585,891)
Purchase of common stock (22,005) (98,925)
Common stock dividends (43,715) (42,524)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements (55,632) (45,165)
LFI Consolidated Funds redemptions (26,217) (21,566)
Other financing activities (6,678) (5,110)
Net cash provided by (used in) financing activities 98,487 (1,072,415)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (22,225) 15,705
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (20,331) (1,483,254)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1 1,224,983 2,639,400
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—March 31 $ 1,204,652 $ 1,156,146