Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
6 Months Ended |
Apr. 30, 2017 |
Apr. 30, 2016 |
| Cash Flows From Operating Activities: |
|
|
| Net income |
$ 141,974
|
$ 132,687
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
10,328
|
10,396
|
| Unamortized loss on derivative instrument |
(684)
|
0
|
| Amortization of deferred sales commissions |
7,884
|
8,006
|
| Stock-based compensation |
39,214
|
36,607
|
| Deferred income taxes |
8,823
|
10,551
|
| Net losses (gains) on investments and derivatives |
453
|
(1,374)
|
| Equity in net income of affiliates, net of amortization |
(5,650)
|
(4,996)
|
| Dividends received from affiliates |
5,100
|
5,785
|
| Consolidated CLO entity's operating activities: |
|
|
| Net gains on bank loans, other investments and note obligations |
0
|
(8,594)
|
| Amortization |
0
|
(269)
|
| Net increase in other assets and liabilities, including cash and cash equivalents |
0
|
82,263
|
| Changes in operating assets and liabilities: |
|
|
| Management fees and other receivables |
(5,083)
|
17,698
|
| Investments in trading securities |
(162,692)
|
(24,446)
|
| Deferred sales commissions |
(13,280)
|
(8,621)
|
| Other assets |
8,406
|
13,135
|
| Accrued compensation |
(73,589)
|
(91,086)
|
| Accounts payable and accrued expenses |
4,550
|
(3,738)
|
| Other liabilities |
46,947
|
(157)
|
| Net cash provided by operating activities |
12,701
|
173,847
|
| Cash Flows From Investing Activities: |
|
|
| Additions to equipment and leasehold improvements |
(6,066)
|
(5,293)
|
| Issuance of loan to affiliate |
0
|
(5,000)
|
| Net cash paid in acquisition |
(63,605)
|
(10,130)
|
| Cash paid for intangible assets |
0
|
(25)
|
| Proceeds from sale of investments |
5,992
|
8,808
|
| Purchase of investments |
(67)
|
(113)
|
| Consolidated CLO entity's investing activities: |
|
|
| Proceeds from sales and maturities of bank loans and other investments |
0
|
33,141
|
| Purchase of bank loans and other investments |
0
|
(118,289)
|
| Net cash used for investing activities |
(63,746)
|
(96,901)
|
| Cash Flows From Financing Activities: |
|
|
| Purchase of additional non-controlling interest |
(9,451)
|
(15,580)
|
| Debt issuance costs |
(2,761)
|
0
|
| Proceeds from issuance of debt |
298,896
|
0
|
| Proceeds from issuance of Voting Common Stock |
0
|
232
|
| Proceeds from issuance of Non-Voting Common Stock |
45,421
|
25,854
|
| Repurchase of Voting Common Stock |
0
|
(77)
|
| Repurchase of Non-Voting Common Stock |
(78,984)
|
(144,071)
|
| Principal repayments on notes receivable from stock option exercises |
2,660
|
1,283
|
| Excess tax benefit of stock option exercises |
8,182
|
3,023
|
| Dividends paid |
(63,005)
|
(60,201)
|
| Net subscriptions received from (redemptions/distributions paid to) non-controlling interest holders |
88,859
|
(2,201)
|
| Consolidated CLO entities' financing activities: |
|
|
| Net cash provided by (used for) financing activities |
289,817
|
(191,738)
|
| Effect of currency rate changes on cash and cash equivalents |
512
|
395
|
| Net increase (decrease) in cash and cash equivalents |
239,284
|
(114,397)
|
| Cash and cash equivalents, beginning of period |
424,174
|
465,558
|
| Cash and cash equivalents, end of period |
663,458
|
351,161
|
| Supplemental Cash Flow Information: |
|
|
| Cash paid for interest |
14,205
|
14,206
|
| Cash paid for income taxes, net of refunds |
40,367
|
47,040
|
| Supplemental Disclosure of Non-Cash Information: |
|
|
| Increase in equipment and leasehold improvements due to non-cash additions |
110
|
1,651
|
| Exercise of stock options through issuance of notes receivable |
771
|
531
|
| Non-controlling interest call option exercises recorded in other liabilities |
320
|
0
|
| Net Consolidations (Deconsolidations) of Sponsored Investment Funds: |
|
|
| Increase (decrease) in investments |
136,611
|
(720)
|
| Increase in other assets, net of other liabilities |
22,073
|
0
|
| Increase (decrease) in non-controlling interests |
$ 73,843
|
$ (698)
|