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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
OPERATING ACTIVITIES    
Net Income $ 17,666 $ 12,726
Adjustments to Reconcile Net Income to Cash    
Depreciation 255 252
Loss on Disposal of Fixed Assets 0 6
Non-Cash Compensation 2,460 2,671
Directors' Share Grants 245 181
Net Realized and Unrealized Losses/ (Gains) from Investments 34 (796)
Equity in Losses/ (Earnings) of Affiliates 129 (435)
Foreign Currency Translation Adjustments 68 12
Deferred Income Taxes 1,344 1,093
Changes in Operating Assets and Liabilities:    
Advisory Fees Receivable (5,158) (2,779)
Due from Broker 461 440
Prepaid Expenses and Other Assets (135) (182)
Due to Broker 1,021 618
Accounts Payable, Accrued Expenses, and Other Liabilities (13,815) (12,809)
Purchases of Equity Securities and Securities Sold Short (6,605) (13,692)
Proceeds from Equity Securities and Securities Sold Short 7,039 12,295
Net Cash Provided by/ (Used in) Operating Activities 5,009 (399)
INVESTING ACTIVITIES    
Purchases of Investments (218) (236)
Proceeds from Sale of Investments 265 87
Payments to Related Parties (600) (434)
Purchases of Property and Equipment 0 (22)
Net Cash Provided Used in Investing Activities (553) (605)
FINANCING ACTIVITIES    
Repurchase and Retirement of Class A Common Stock (3,203) (77)
Repurchase and Retirement of Class B Units (41) (39)
Sale of Shares under Equity Incentive Plan 4 25
Distributions to Non-Controlling Interests (29,719) (19,750)
Contributions from Non-Controlling Interests 0 2,427
Dividends (7,560) (4,862)
Net Cash Used in Financing Activities (40,519) (22,276)
NET CHANGE IN CASH AND RESTRICTED CASH (36,063) (23,280)
CASH AND RESTRICTED CASH - Beginning of Period 64,431 47,158
Net Change in Cash and Restricted Cash (36,063) (23,280)
CASH AND RESTRICTED CASH - End of Period 28,368 23,878
Supplementary Cash Flow Information:    
Issuances of Shares under Equity Incentive Plan 4,191 4,413
Income Taxes Paid $ 415 $ 414