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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
OPERATING ACTIVITIES        
NET INCOME $ 16,295 $ 17,357 $ 32,237 $ 35,023
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:        
Depreciation 261 246 511 501
Non-Cash Compensation 2,886 2,368 5,630 4,828
Directors' Share Grants 103 102 404 347
Net Realized and Unrealized Losses/ (Gains) from Investments 18 179 (819) 213
Equity in (Earnings)/ Losses of Affiliates (263) 148 (1,021) 277
Accretion of Discount (57)   (107)  
Non-Cash Lease Expense 482   937  
Foreign Currency Translation Adjustments (73) (131) (10) (63)
Deferred Income Taxes 1,048 1,339 2,442 2,683
Changes in Operating Assets and Liabilities:        
Advisory Fees Receivable 207 4,038 (69) (1,120)
Due from Broker (67) 736 (168) 1,197
Prepaid Expenses and Other Assets (844) 103 (909) (32)
Due to Broker 9 (690) (277) 331
Accounts Payable, Accrued Expenses, and Other Liabilities 8,209 8,033 (8,632) (5,782)
Lease Liabilities (444)   (810)  
Purchases of Equity Securities (3,933) (5,956) (7,845) (12,561)
Proceeds from Equity Securities 3,967 5,933 7,404 12,972
Net Cash Provided by Operating Activities 27,804 33,805 28,898 38,814
INVESTING ACTIVITIES        
Purchases of Investments (1,623) (219) (13,746) (437)
Proceeds from Sale of Investments 412 93 26,080 358
Payments (to)/ from Related Parties (2) (57) 2,421 (657)
Purchases of Property and Equipment (35) (31) (549) (31)
Net Cash (Used in)/ Provided by Investing Activities (1,248) (214) 14,206 (767)
FINANCING ACTIVITIES        
Repurchase and Retirement of Class A Common Stock   (2,279) (4,712) (5,482)
Repurchase and Retirement of Class B Units     (675) (41)
Sale of Shares under Equity Incentive Plan 1 5,184 66 5,188
Distributions to Non-Controlling Interests (6,972) (10,798) (32,637) (40,517)
Contributions from Non-Controlling Interests 5 31 28 31
Dividends (536) (532) (9,487) (8,092)
Net Cash Used in Financing Activities (7,502) (8,394) (47,417) (48,913)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 19,054 25,197 (4,313) (10,866)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of Period 15,760 28,368 39,127 64,431
Net Change in Cash, Cash Equivalents and Restricted Cash 19,054 25,197 (4,313) (10,866)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of Period 34,814 $ 53,565 34,814 53,565
Supplementary Cash Flow Information:        
Issuances of Shares under Equity Incentive Plan     4,087 4,191
Income Taxes Paid $ 1,250   $ 1,348 $ 415