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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
OPERATING ACTIVITIES    
NET INCOME $ 15,942 $ 17,666
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:    
Depreciation 250 255
Non-Cash Compensation 2,744 2,460
Directors' Share Grants 301 245
Net Realized and Unrealized (Gains)/ Losses from Investments (837) 34
Equity in (Earnings)/ Losses of Affiliates (758) 129
Accretion of Discount (50) 0
Non-Cash Lease Expense 455 0
Foreign Currency Translation Adjustments 63 68
Deferred Income Taxes 1,394 1,344
Changes in Operating Assets and Liabilities:    
Advisory Fees Receivable (276) (5,158)
Due from Broker (101) 461
Prepaid Expenses and Other Assets (65) (135)
Due to Broker (286) 1,021
Accounts Payable, Accrued Expenses, and Other Liabilities (16,841) (13,815)
Lease Liabilities (366) 0
Purchases of Equity Securities (3,912) (6,605)
Proceeds from Equity Securities 3,437 7,039
Net Cash Provided by Operating Activities 1,094 5,009
INVESTING ACTIVITIES    
Purchases of Investments (12,123) (218)
Proceeds from Sale of Investments 25,668 265
Payments from/ (to) Related Parties 2,423 (600)
Purchases of Property and Equipment (514) 0
Net Cash Provided/ (Used in) by Investing Activities 15,454 (553)
FINANCING ACTIVITIES    
Repurchase and Retirement of Class A Common Stock (4,712) (3,203)
Repurchase and Retirement of Class B Units (675) (41)
Sale of Shares under Equity Incentive Plan 65 4
Distributions to Non-Controlling Interests (25,665) (29,719)
Contributions from Non-Controlling Interests 23 0
Dividends (8,951) (7,560)
Net Cash Used in Financing Activities (39,915) (40,519)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH (23,367) (36,063)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of Period 39,127 64,431
Net Change in Cash, Cash Equivalents and Restricted Cash (23,367) (36,063)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of Period 15,760 28,368
Supplementary Cash Flow Information:    
Issuances of Shares under Equity Incentive Plan 4,087 4,191
Income Taxes Paid $ 72 $ 415