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Consolidated Statements Of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash Flows From Operating Activities:      
Net income $ 522,536 $ 662,155 $ 824,858
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 60,533 50,615 45,574
Amortization of loans and advances to financial advisors and other employees 145,227 132,012 114,690
Amortization of premium on investment portfolio 9,871 12,156 17,042
Provision for credit losses and allowance for loans and advances to financial advisors and other employees 24,999 33,506 (11,502)
Amortization of intangible assets 20,929 19,595 18,188
Deferred income taxes 15,968 12,693 32,104
Stock-based compensation 140,263 135,505 119,384
Unrealized (gains)/losses on investments (460) 11,892 2,999
Other, net 2,572 8,852 26,222
Receivables:      
Brokerage clients, net 82,878 228,492 (214,033)
Brokers, dealers, and clearing organizations 5,341 156,165 (8,496)
Securities purchased under agreements to resell (1,687) 231,704 (266,801)
Financial instruments owned, including those pledged (131,576) 425,252 (271,475)
Loans originated as held for sale (995,084) (576,153) (1,997,561)
Proceeds from loans held for sale 864,996 593,086 2,313,934
Loans and advances to financial advisors and other employees (181,583) (132,384) (172,553)
Other assets (107,859) (66,020) (96,700)
Increase/(decrease) in operating liabilities, net of liabilities assumed:      
Brokerage clients (35,515) (201,588) (92,015)
Brokers, dealers, and clearing organizations 43,060 (81,661) 6,535
Drafts 15,476 (20,405) 4,880
Financial instruments sold, but not yet purchased 12,582 (301,333) 229,708
Other liabilities and accrued expenses (14,139) (176,721) 247,112
Net cash provided by operating activities 499,328 1,157,415 872,094
Cash Flows From Investing Activities:      
Principal paydowns, calls, maturities, and sales of available-for-sale securities 138,216 330,049 562,352
Calls and principal paydowns of held-to-maturity securities 101,240 114,741 1,751,313
Sale of fixed assets 0 0 148,375
Sale or maturity of investments 15,694 20,753 19,606
Decrease/(increase) in loans held for investment, net 1,002,320 (3,822,654) (5,609,314)
Payments for:      
Purchase of available-for-sale securities (19,635) (103,339) (813,657)
Purchase of held-to-maturity securities 0 (754,306) (2,668,221)
Purchase of investments (29,257) (15,551) (23,309)
Purchase of fixed assets (51,976) (82,327) (188,176)
Acquisitions, net of cash received (111,958) (11,903) (144,471)
Net cash provided by/(used in) investing activities 1,044,644 (4,324,537) (6,965,502)
Cash Flows from Financing Activities:      
Increase/(decrease) in securities sold under agreements to repurchase 205,633 (173,517) 135,588
Increase in bank deposits, net 217,468 3,836,763 5,883,851
Increase/(decrease) in securities loaned 67,588 (81,114) 4,095
Tax payments related to shares withheld for stock-based compensation plans (94,387) (102,546) (78,565)
Repurchase of common stock (443,876) (105,831) (172,741)
Cash dividends on preferred stock (37,281) (37,281) (35,587)
Cash dividends paid to common stock and equity-award holders (162,984) (133,747) (66,336)
Payment of contingent consideration (6,740) (11,313) (16,798)
Other financing, net 0 0 140,888
Net cash (used in)/provided by financing activities (254,579) 3,191,414 5,794,395
Effect of exchange rate changes on cash 5,454 55,053 (3,536)
Increase/(decrease) in cash, cash equivalents, and cash segregated for regulatory purposes 1,294,847 79,345 (302,549)
Cash, cash equivalents, and cash segregated for regulatory purposes at beginning of year 2,229,002 2,149,657 2,452,206
Cash, cash equivalents, and cash segregated for regulatory purposes at end of year 3,523,849 2,229,002 2,149,657
Supplemental disclosure of cash flow information:      
Cash paid for income taxes, net of refunds 183,815 217,133 288,950
Cash paid for interest 821,741 220,851 62,510
Noncash investing and financing activities:      
Unit grants, net of forfeitures 188,641 194,741 156,535
Issuance of common stock for acquisitions $ 0 $ 0 $ 90,000