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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Operating activities:    
Net income (loss) $ (16,627) $ 13,403
Non-cash items included in net income (loss):    
Depreciation and amortization 3,225 3,647
Net investment (gains) losses 18 (373)
Restricted stock units recognized, net 23,218 22,535
Deferred taxes, net (1,470) 8,089
Allowance for doubtful accounts (335) 94
Changes in operating assets and liabilities:    
Fees receivable 1,621 38,294
Other receivables and assets (12,066) (10,061)
Compensation payable (19,686) (14,680)
Accounts payable and accrued expenses 4,523 655
Current income taxes payable (6,402) 2,581
Net cash provided (used) by operating activities (23,981) 64,184
Investing activities:    
Proceeds from sales of investments 0 1,190
Distributions from investments 0 32
Purchases of property and equipment (3,600) (4,335)
Net cash used in investing activities (3,600) (3,113)
Financing activities:    
Repayment of secured term loan 0 (35,000)
Dividends paid (6,148) (4,171)
Purchase of treasury stock (30,434) (33,370)
Net cash used in financing activities (36,582) (72,541)
Effect of exchange rate changes (6,149) (798)
Net decrease in cash and cash equivalents (70,312) (12,268)
Cash and cash equivalents, beginning of the period 134,624 112,703
Cash and cash equivalents, end of the period 64,312 100,435
Supplemental disclosure of cash flow information:    
Cash paid for interest 7,541 7,989
Cash paid for taxes, net of refunds $ 4,823 $ (1,471)