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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities:    
Net income $ 32,172 $ 64,432
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 14,765 14,217
Provision for doubtful accounts 2,438 1,646
Share-based compensation 14,267 10,276
Fair value adjustments, non-cash 21,755 (13,343)
Non-cash interest and other (12,901) (14,941)
Effect of foreign currency on operations (602) 8
Loss from equity investments 145 4,049
Deferred income taxes 17,312 6,358
Impairment of intangibles and loss on disposal of fixed assets 14,057 (327)
Gain on extinguishment of debt (1,556)  
Income allocated for mandatorily redeemable noncontrolling interests 779 857
Change in operating assets and liabilities:    
Due from clearing brokers 4,230 9,947
Securities and other investments owned (36,859) (32,122)
Securities borrowed 137,908 211,139
Accounts receivable and advances against customer contracts 25,336 (8,645)
Prepaid expenses and other assets (3,507) (9,619)
Accounts payable, accrued expenses and other liabilities (10,297) 31,473
Amounts due to/from related parties and partners 1,093 (4,574)
Securities sold, not yet purchased 6,304 (8,531)
Deferred revenue 3,444 (502)
Securities loaned (143,386) (215,575)
Net cash provided by operating activities 86,897 46,223
Cash flows from investing activities:    
Purchases of loans receivable (169,100) (350,695)
Repayments of loans receivable 75,982 98,742
Sale of loan receivable to related party 1,800  
Proceeds from loan participations sold 2,400 31,806
Repayment of loan participations sold (1,131) (3,175)
Purchases of property, equipment and other (1,517) (2,885)
Proceeds from sale of property, equipment and intangible assets 1 504
Purchase of equity investments (6,486) (33,391)
Proceeds from sale of division of magicJack   6,196
Dividends and distributions from equity investments 1,005 1,454
Acquisition of other businesses (1,500)  
Net cash used in investing activities (98,546) (251,444)
Cash flows from financing activities:    
Repayment of asset based credit facility (37,096)  
Repayment of notes payable (357) (357)
Proceeds from term loan   10,000
Repayment of term loan (14,429) (17,924)
Proceeds from issuance of senior notes 171,417 244,497
Redemption of senior notes (1,829)  
Payment of debt issuance costs (2,761) (4,212)
Payment of employment taxes on vesting of restricted stock (2,950) (2,626)
Common dividends paid (25,822) (25,049)
Preferred dividends paid (3,230)  
Repurchase of common stock (38,348) (4,273)
Repurchase of warrants   (2,777)
Distribution to noncontrolling interests (3,013) (1,095)
Proceeds from issuance of preferred stock 36,007  
Net cash provided by financing activities 77,589 196,184
Increase (decrease) in cash, cash equivalents and restricted cash 65,940 (9,037)
Effect of foreign currency on cash, cash equivalents and restricted cash 407 (183)
Net increase (decrease) in cash, cash equivalents and restricted cash 66,347 (9,220)
Cash, cash equivalents and restricted cash, beginning of period 104,739 180,278
Cash, cash equivalents and restricted cash, end of period 171,086 171,058
Supplemental disclosures:    
Interest paid 75,231 52,931
Taxes paid $ 1,460 $ 5,029