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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 17,264 $ 1,343
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Depreciation and amortization 4,290 399
Provision (recoveries) for doubtful accounts 704 (3)
Share based compensation 3,940 997
Recovery of key man life insurance (6,000)
Non-cash interest and other 166 54
Effect of foreign currency on operations (855)
Deferred income taxes (23,636) 271
Impairment of leaseholds, lease loss accrual and loss on disposal of fixed assets 1,371
Income allocated and fair value adjustment for mandatorily redeemable noncontrolling interests 7,268 960
Change in operating assets and liabilities:    
Due from clearing brokers 13,408
Securities and other investments owned (40,975) 899
Securities borrowed (48,134)
Accounts receivable and advances against customer contracts (37,153) 1,087
Prepaid expenses and other assets 14,988 (7,645)
Accounts payable, accrued payroll and related expenses, accrued value added tax payable and other accrued expenses (22,748) (5,998)
Amounts due from related parties and partners (13,333) (1,935)
Securities sold, not yet purchased 2,675 5,219
Deferred revenue (425)
Securities loaned 44,365
Auction and liquidation proceeds payable 14,667
Net cash (used in) provided by operating activities (82,820) 10,315
Cash flows from investing activities:    
Cash acquired from acquisition of FBR & Co. 15,738
Acquisition of other businesses (2,052)
Acquisition consideration payable (10,381)
Purchases of property and equipment (306) (58)
Proceeds from key man life insurance 6,000
Proceeds from sale of property and equipment 6
Proceeds from sale of intangible assets 613
Increase in restricted cash (2,263) (12,026)
Net cash provided by (used in) investing activities 7,355 (12,084)
Cash flows from financing activities:    
Repayment of revolving line of credit (272)
Proceeds from asset based credit facility 65,987
Repayment of asset based credit facility (45,750)
Payment of contingent consideration (1,250) (1,250)
Proceeds from issuance of senior notes 57,847
Proceeds from issuance of common stock 22,999
Offering costs from issuance of common stock (240)
Payment of employment taxes on vesting of restricted stock (1,057)
Dividends paid (8,380)
Distribution to noncontrolling interests (1,646) (1,441)
Net cash provided by financing activities 65,751 19,796
(Decrease) increase in cash and cash equivalents (9,714) 18,027
Effect of foreign currency on cash 2,279 84
Net (decrease) increase in cash and cash equivalents (7,435) 18,111
Cash and cash equivalents, beginning of year 112,105 30,012
Cash and cash equivalents, end of period 104,670 48,123
Supplemental disclosures:    
Interest paid 2,890 252
Taxes paid $ 9,689 $ 409