XML 24 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Operating activities:    
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $ 7,603us-gaap_ProfitLoss $ 238us-gaap_ProfitLoss
Non-cash items included in net income allocated to common stockholders:    
Depreciation and amortization 721us-gaap_DepreciationAndAmortization 813us-gaap_DepreciationAndAmortization
Net investment (gains) losses 240us-gaap_GainLossOnInvestments 5,231us-gaap_GainLossOnInvestments
Restricted stock units recognized and common stock issued 11,432us-gaap_RestrictedStockExpense 4,996us-gaap_RestrictedStockExpense
Deferred taxes 3,405us-gaap_DeferredIncomeTaxExpenseBenefit 8,249us-gaap_DeferredIncomeTaxExpenseBenefit
Deferred gain on sale of certain merchant banking assets 0us-gaap_RecognitionOfDeferredRevenue (49)us-gaap_RecognitionOfDeferredRevenue
Changes in operating assets and liabilities:    
Advisory fees receivable 8,987us-gaap_IncreaseDecreaseInAccountsReceivable 27,942us-gaap_IncreaseDecreaseInAccountsReceivable
Other receivables and assets (255)us-gaap_IncreaseDecreaseInOtherOperatingAssets (9,781)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Compensation payable (18,944)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities (8,692)us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Accounts payable and accrued expenses 8,501us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (1,516)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Current income taxes payable (4,286)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable (5,050)us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable
Net cash provided by operating activities 17,404us-gaap_NetCashProvidedByUsedInOperatingActivities 22,381us-gaap_NetCashProvidedByUsedInOperatingActivities
Investing activities:    
Purchases of investments (9)us-gaap_PaymentsToAcquireInvestments 0us-gaap_PaymentsToAcquireInvestments
Distributions from investments 267ghl_ProceedsFromDistributionsReceivedFromInvestments 254ghl_ProceedsFromDistributionsReceivedFromInvestments
Purchases of property and equipment (95)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (449)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Net cash provided by/(used in) investing activities 163us-gaap_NetCashProvidedByUsedInInvestingActivities (195)us-gaap_NetCashProvidedByUsedInInvestingActivities
Financing activities:    
Proceeds from revolving bank loan 19,100us-gaap_ProceedsFromLinesOfCredit 18,601us-gaap_ProceedsFromLinesOfCredit
Repayment of revolving bank loan (20,000)us-gaap_RepaymentsOfLinesOfCredit (13,200)us-gaap_RepaymentsOfLinesOfCredit
Dividends paid (14,480)us-gaap_PaymentsOfDividendsCommonStock (14,344)us-gaap_PaymentsOfDividendsCommonStock
Purchase of treasury stock (10,561)us-gaap_PaymentsForRepurchaseOfCommonStock (16,825)us-gaap_PaymentsForRepurchaseOfCommonStock
Net tax (cost) from the delivery of restricted stock units and payment of dividend equivalents (6,848)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation (2,541)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation
Net cash used in financing activities (32,789)us-gaap_NetCashProvidedByUsedInFinancingActivities (28,309)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash and cash equivalents (1,272)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (32)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net decrease in cash and cash equivalents (16,494)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (6,155)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 50,940us-gaap_CashAndCashEquivalentsAtCarryingValue 42,679us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period 34,446us-gaap_CashAndCashEquivalentsAtCarryingValue 36,524us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental disclosure of cash flow information:    
Cash paid for interest 283us-gaap_InterestPaid 259us-gaap_InterestPaid
Cash paid for taxes, net of refunds $ 5,602us-gaap_IncomeTaxesPaidNet $ 5,616us-gaap_IncomeTaxesPaidNet