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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Operating activities:    
Net income $ 209,696 $ 104,200
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 3,744 2,982
Change in deferred income taxes 19,941 13,382
Change in payable to related parties pursuant to tax receivable agreement (6,202) (73)
Equity-based compensation 5,706 5,310
Equity in income of investees (60,181) (10,938)
Gain on sale of investment (11,936) (6,229)
Fair value adjustment of other investments (47,774) 0
Proceeds received from investments 38,945 704
Non-cash lease expense 7,210 4,352
Other 43 (105)
Changes in operating assets and liabilities:    
Fees receivable (17,883) 3,760
Prepaid expenses 263 2,068
Due from related parties 479 (1,382)
Other assets 256 (1,291)
Accounts payable 17 101
Accrued compensation and benefits 18,867 29,982
Lease liability (1,410) (1,466)
Other liabilities (6,457) 195
Consolidated variable interest entities related:    
Net cash provided by operating activities 152,512 147,791
Investing activities:    
Purchase of furniture, fixtures and equipment (7,788) (8,558)
Purchase of other investments (18,798) (500)
Cash paid for acquisition of business (10,096) 0
Cash paid for purchase of intangible assets 0 (1,000)
Proceeds from sale of investment valued under the measurement alternative 12,623 0
Distribution from investment valued under the measurement alternative 12,739 0
Distributions received from investments 12,088 19,764
Contributions to investments (56,432) (57,119)
Net cash used in investing activities (55,664) (47,413)
Financing activities:    
Proceeds from offerings 73,833 354,629
Purchase of membership interests (73,833) (354,629)
Repayments of debt (1,382) (937)
Repayment of revolver (15,000) 0
Repurchase of Class B common stock (1) (4)
Repurchase of Class A shares for employee tax withholding (605) (36)
Proceeds received from issuance of shares under Employee Share Purchase Plan 1,382 1,077
Payments to related parties, pursuant to tax receivable agreement (15,584) (36)
Dividends paid (36,714) (28,902)
Members’ distributions paid (37,469) (26,522)
Other (75) 0
Consolidated variable interest entities related:    
Net cash used in financing activities (104,885) (57,781)
Effect of exchange rate changes on cash and cash equivalents 0 130
(Decrease) increase in cash, cash equivalents, and restricted cash (8,037) 42,727
Cash, cash equivalents, and restricted cash at beginning of the period 90,377 53,210
Cash, cash equivalents, and restricted cash at end of the period 82,340 95,937
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Total cash and cash equivalents, restricted cash, and cash and cash equivalents held at consolidated variable interest entities 82,340 95,937
Primary Beneficiary    
Adjustments to reconcile net income to net cash provided by operating activities:    
Fair value adjustment of other investments (1,067) 0
Consolidated variable interest entities related:    
Change in warrant liability measured at fair value (1,067) 0
Equity in (income) loss of investees (170) 2,239
Other assets and liabilities 425 0
Consolidated variable interest entities related:    
Contributions from non-controlling interest in general partnerships 1,053 70
Distributions to non-controlling interest in general partnerships (490) (2,491)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 187 0
Restricted cash 276,009  
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]    
Cash and cash equivalents 78,838 92,895
Restricted cash $ 3,315 $ 3,042