XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Operating activities:    
Net income (loss) $ (18,881) $ (30,838)
Non-cash items included in net income (loss):    
Depreciation and amortization 2,670 2,142
Restricted stock units recognized, net 10,825 16,403
Deferred taxes, net 2,407 2,176
Allowance for doubtful accounts 49 (413)
Changes in operating assets and liabilities:    
Fees receivable (9,377) 29,869
Other receivables and assets (17,882) (23,372)
Compensation payable (7,168) (20,529)
Accounts payable and accrued expenses 2,488 2,907
Current income taxes payable (3,090) (9,401)
Net cash provided (used) by operating activities (37,959) (31,056)
Investing activities:    
Purchases of property and equipment (2,044) (898)
Net cash used in investing activities (2,044) (898)
Financing activities:    
Repayment of secured term loan (1,796) 0
Dividends paid (5,432) (4,344)
Purchase of treasury stock (10,654) (30,195)
Net cash used in financing activities (17,882) (34,539)
Effect of exchange rate changes 1,260 (3,593)
Net decrease in cash and cash equivalents (56,625) (70,086)
Cash and cash equivalents, beginning of the period 104,336 134,624
Cash and cash equivalents, end of the period 47,711 64,538
Supplemental disclosure of cash flow information:    
Cash paid for interest 9,173 5,063
Cash paid for taxes, net of refunds $ 5,286 $ 4,556