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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 90,345 $ (276,347)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization of property 18,319 21,657
Noncash lease expense 32,668 32,422
Amortization of deferred expenses and share-based incentive compensation 257,307 249,234
Amortization and other acquisition-related costs 136 143
Deferred tax benefit (9,448) (6,107)
Impairment of equity method investments and other receivables 0 22,981
Impairment of assets associated with cost-saving initiatives 0 7,490
Loss on LGAC liquidation 0 17,929
(Increase) decrease in operating assets and increase (decrease) in operating liabilities:    
Receivables-net 27,670 (21,513)
Investments 90,016 (112,661)
Other assets (104,910) (6,531)
Accrued compensation and benefits and other liabilities (313,704) (136,678)
Net cash provided by (used in) operating activities 88,399 (207,981)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Additions to property (13,061) (11,990)
Disposals of property 1,928 100
Purchase of investments (98,350) 0
Acquisition of business, net of cash acquired 0 (10,516)
Other investing activities (723) 0
Net cash used in investing activities (110,206) (22,406)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from (payments for) customer deposits, net 10,840 (349,479)
Proceeds from:    
Issuance of senior debt, net of expenses 396,010 0
Contributions from noncontrolling interests 132 130
Other financing activities 100 50
Payments for:    
Extinguishment of senior debt (233,073) 0
Distributions to noncontrolling interests (1,985) (4,061)
Distribution to redeemable noncontrolling interests in connection with LGAC redemption 0 (585,891)
Purchase of common stock (40,816) (99,097)
Distributions to members (122,079) (73,684)
Settlement of share-based incentive compensation in satisfaction of tax withholding requirements (61,593) (48,708)
LFI Consolidated Funds redemptions (35,141) (31,789)
Other financing activities (9,055) (7,209)
Net cash used in financing activities (96,660) (1,199,738)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (23,164) 17,410
NET DECREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (141,631) (1,412,715)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH— January 1 1,219,835 2,585,100
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH—June 30 $ 1,078,204 $ 1,172,385