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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
OPERATING ACTIVITIES        
Net Income $ 15,574 $ 16,916 $ 29,192 $ 49,153
Adjustments to Reconcile Net Income to Cash Provided by Operating Activities:        
Depreciation 301 261 913 772
Non-Cash Compensation 3,040 2,846 9,043 8,476
Directors' Share Grants 14 104 239 508
Net Realized and Unrealized (Gains)/ Losses from Investments (179) 338 3,162 (481)
Equity in (Earnings)/ Losses of Affiliates (116) 4 3,002 (1,017)
Accretion of Discount   (58)   (165)
Noncash Lease Expense 555 474 1,717 1,411
Foreign Currency Translation Adjustments 295 (104) 73 (114)
Deferred Income Taxes 945 658 2,067 3,100
Changes in Operating Assets and Liabilities:        
Advisory Fees Receivable 648 2,267 3,380 2,198
Due from Broker 755 255 (87) (251)
Prepaid Expenses and Other Assets (217) 422 264 (487)
Due to Broker (1,649) (83) 123 (22)
Accounts Payable, Accrued Expenses, and Other Liabilities 5,009 5,719 (15,998) (2,913)
Lease Liabilities (567) (487) (1,753) (1,297)
Purchases of Equity Securities (5,024) (3,186) (23,162) (11,031)
Proceeds from Equity Securities 5,002 3,176 19,208 10,580
Net Cash Provided by/ (Used in) Operating Activities 24,386 29,522 31,383 58,420
INVESTING ACTIVITIES        
Purchases of Investments (1,542) (13,426) (25,195) (27,172)
Proceeds from Sale of Investments 4,473 368 51,468 26,448
Payments from/ (to) Related Parties 237 (11) (666) 2,410
Purchases of Property and Equipment   (525) (33) (1,074)
Net Cash Provided by/ (Used in) Investing Activities 3,168 (13,594) 25,574 612
FINANCING ACTIVITIES        
Repurchase and Retirement of Class A Common Stock (516) (1,486) (7,560) (6,198)
Repurchase and Retirement of Class B Units   (134) (565) (809)
Sale of Shares under Equity Incentive Plan 74 31 2,267 97
Distributions to Non-Controlling Interests (10,546) (11,955) (45,772) (44,592)
Contributions from Non-Controlling Interests 51 56 760 84
Dividends (509) (536) (9,198) (10,023)
Net Cash Provided by/ (Used in) Financing Activities (11,446) (14,024) (60,068) (61,441)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 16,108 1,904 (3,111) (2,409)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - Beginning of Period 34,174 34,814 53,516 39,127
Effect of (Deconsolidation)/ Consolidation of Affiliates     (123)  
Net Change in Cash, Cash Equivalents and Restricted Cash 16,108 1,904 (3,111) (2,409)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH - End of Period 50,282 36,718 50,282 36,718
Supplementary Cash Flow Information:        
Issuances of Shares under Equity Incentive Plan     3,842 4,087
Income Taxes Paid $ 24 $ 298 $ 139 $ 1,646