XML 80 R8.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
USD ($)
Cash flows from operating activities:      
Net income $ 5,911 $ 26,751 $ 19,989
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 898 867 1,044
Amortization of intangible assets 1,726 1,672 1,872
Unrealized (gains) losses on investments (3,650) 737 (617)
Stock-based compensation expense 10,305 15,283 16,430
Deferred income taxes 2,906 (1,749) 7,542
Gain on sale of operations 0 (524) 0
Gain on sale of operations 1,151 1,062 1,042
Changes in operating assets and liabilities:      
Net (purchases) sales of investments – trading securities 15,811 (15,194) 5,778
Accounts receivable 5,404 2,678 2,161
Other current assets (608) 3,755 (4,234)
Accounts payable and accrued liabilities (382) (644) 763
Compensation and benefits payable (5,018) (3,636) 2,262
Income taxes payable (849) 1,643 (4,816)
Other liabilities (1,433) (1,217) (1,207)
Cash flows from investing activities:      
Purchases of property, equipment and other (593) (991) (1,167)
Proceeds from Divestiture of Businesses 0 10,013 0
Payments to Acquire Investments (3,671) 5,425 0
Cash flows from financing activities:      
Purchases of treasury stock (2,414) (4,000) 0
Payment for Repurchases of Stock for Benefit Plan (980) (726) (1,326)
Restricted stock returned for payment of taxes (2,387) (4,768) (5,328)
Cash dividends paid (26,089) (24,621) (21,923)
Effect of currency rate changes on cash 1,863 (2,766) 2,305
Net increase (decrease) in cash and cash equivalents (2,683) (1,800) 20,570
Cash and cash equivalents, beginning of year 52,449 54,249 33,679
Cash and cash equivalents, end of year 49,766 52,449 54,249
Supplemental cash flow information:      
Cash paid during the year for income taxes 1,431 9,766 10,770
Accrued dividends 8,666 9,286 9,074
Noncash Tenant Improvements 0 237 0
Non Cash Accrued PP&E 0 0 69
Payments to Acquire Intangible Assets (584)    
Net Cash Provided by (Used in) Operating Activities 32,172 31,484 48,009
Net Cash Provided by (Used in) Investing Activities (4,848) 3,597 (1,167)
Net Cash Provided by (Used in) Financing Activities $ (31,870) $ (34,115) $ (28,577)