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Consolidated Statements of Cash Flows
12 Months Ended
Oct. 31, 2018
USD ($)
Oct. 31, 2017
USD ($)
Oct. 31, 2016
USD ($)
Cash Flows From Operating Activities:      
Net income $ 397,905,000 $ 306,373,000 $ 264,757,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 25,013,000 19,132,000 20,798,000
Unamortized loss on derivative instrument 0 (684,000) 0
Amortization of deferred sales commissions 18,394,000 16,231,000 15,458,000
Stock-based compensation 87,047,000 79,525,000 71,337,000
Deferred income taxes 25,246,000 14,345,000 22,089,000
Net losses on investments and derivatives 17,796,000 1,900,000 116,000
Loss on expiration of Hexavest option 6,523,000 0 0
Equity in net income of affiliates, net of tax (11,373,000) (10,870,000) (10,552,000)
Dividends received from affiliates 12,243,000 11,447,000 11,460,000
Loss on extinguishment of debt 0 5,396,000 0
Consolidated CLO entities' operating activities:      
Net gains on bank loan, other investments and note obligations (1,999,000) 0 (6,094,000)
Amortization (248,000) 0 (624,000)
(Increase) decrease in other assets and cash, net of other liabilities (165,470,000) 0 80,468,000
Changes in operating assets and liabilities:      
Management fees and other receivables (36,427,000) (14,167,000) 1,334,000
Investments in trading securities (245,054,000) (396,619,000) (93,420,000)
Deferred sales commissions (30,598,000) (25,577,000) (17,380,000)
Other assets (7,727,000) (11,608,000) (4,051,000)
Accrued compensation 26,806,000 33,489,000 (4,845,000)
Accounts payable and accrued expenses 10,287,000 7,330,000 (5,482,000)
Other liabilities 5,286,000 44,032,000 (1,889,000)
Net cash provided by operating activities 133,650,000 79,675,000 343,480,000
Cash Flows From Investing Activities:      
Additions to equipment and leasehold improvements (18,747,000) (12,698,000) (10,682,000)
Issuance of loan to affiliate 0 0 (5,000,000)
Net cash paid in acquisition 0 (63,605,000) (10,155,000)
Proceeds from sale of investments 24,486,000 [1] 16,502,000 [1] 12,707,000 [1]
Purchase of investments (7,022,000) [1] (276,000) [1] (17,177,000) [1]
Proceeds from sale of investments in CLO entity note obligations 76,563,000 [1] 0 [1] 4,668,000 [1]
Purchase of investments in CLO entity note obligations (147,322,000) [1] 0 [1] 0 [1]
Consolidated CLO entities' investing activities:      
Proceeds from sales of bank loans and other investments 154,871,000 0 166,460,000
Purchase of bank loans and other investments (407,883,000) (31,348,000) (249,099,000)
Net cash used for investing activities (325,054,000) (91,425,000) (108,278,000)
Cash Flows From Financing Activities:      
Purchase of additional non-controlling interest (20,818,000) (9,820,000) (15,673,000)
Debt issuance costs 0 (2,761,000) 0
Proceeds from issuance of debt 0 298,896,000 0
Repayment of debt 0 (250,000,000) 0
Loss on extinguishment of debt 0 (5,396,000) 0
Principal repayments on notes receivable from stock option exercises 4,825,000 4,500,000 3,257,000
Dividends paid (144,855,000) (125,785,000) (118,621,000)
Net subscriptions received from (redemptions/distributions paid to) non-controlling interest holders 100,360,000 188,463,000 302,000
Consolidated CLO entities' financing activities:      
Proceeds from line of credit 245,898,000 12,598,000 0
Repayment of line of credit (258,496,000) 0 0
Issuance of senior and subordinated note obligations 1,320,397,000 0 0
Principal repayments of senior and subordinated note obligations (865,624,000) 0 0
Net cash provided by (used for) financing activities 184,413,000 195,430,000 (273,130,000)
Effect of currency rate changes on cash and cash equivalents (2,868,000) 2,701,000 (3,456,000)
Net increase (decrease) in cash and cash equivalents (9,859,000) 186,381,000 (41,384,000)
Cash and cash equivalents, beginning of year 610,555,000 424,174,000 465,558,000
Cash and cash equivalents, end of year 600,696,000 610,555,000 424,174,000
Supplemental Cash Flow Information:      
Cash paid for interest 22,660,000 25,535,000 28,413,000
Cash paid for interest upon repayment of debt 0 1,354,000 0
Cash paid for interest by consolidated CLO entities 10,681,000 0 11,024,000
Cash paid for income taxes, net of refunds 135,105,000 143,948,000 128,845,000
Supplemental Disclosure of Non-Cash Information:      
Increase in equipment and leasehold improvements due to non-cash additions 1,336,000 863,000 453,000
Exercise of stock options through issuance of notes receivable 1,770,000 3,538,000 4,188,000
Non-controlling interest call option exercises recorded in other liabilities 14,133,000 12,379,000 2,510,000
Increase (decrease) in non-controlling interest due to net consolidation (deconsolidation) of sponsored investment funds (25,320,000) 129,587,000 (1,567,000)
Increase in bank loans and other investments of consolidated CLO entities due to unsettled purchases 149,617,000 0 0
Initial Consolidation of CLO Entities:      
Increase in bank loans and other investments 814,122,000 31,348,000 0
Increase in senior loan obligations 843,089,000 0 0
Increase in line of credit 0 12,598,000 0
Deconsolidation of CLO Entities:      
Decrease in bank loans and other investments 379,676,000 0 (389,856,000)
Decrease in senior and subordinated loan obligations 378,742,000 0 (397,544,000)
Voting Common Stock [Member]      
Cash Flows From Financing Activities:      
Proceeds From Issuance Of Voting Common Stock 0 0 232,000
Repurchase of Common Stock (171,000) 0 (77,000)
Non-Voting Common Stock [Member]      
Cash Flows From Financing Activities:      
Proceeds from issuance of Non-Voting Common Stock 76,447,000 210,934,000 110,425,000
Repurchase of Common Stock (273,550,000) (126,199,000) (252,975,000)
Supplemental Disclosure of Non-Cash Information:      
Non-Voting Common Stock repurchases recorded in accounts payable and accrued expenses $ 13,136,000 $ 0 $ 0
[1]
In fiscal 2018, the Company elected to present the investing cash flows related to the purchase and sale of investments in CLO entity note obligations separately from the purchase and sale of other investments. The prior year amounts, which were previously presented within the purchase and sale of investments line items, were reclassified to these line items for comparability purposes.