XML 51 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities:      
Net income $ 47,810,000 $ 51,350,000 $ 43,979,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 16,094,000 15,124,000 15,316,000
Bad debt expense 1,195,000 433,000 630,000
Loss (gain) on sale or disposition of assets, net 178,000 (3,397,000) (14,000)
Loss on early extinguishment of debt 796,000 94,000 178,000
Equity in earnings of investees   (1,215,000) (600,000)
Distributions received from equity investees   1,178,000 549,000
Equity-based compensation expense 2,330,000 1,453,000 2,002,000
Non-cash interest expense 445,000 439,000 365,000
Deferred income tax expense 3,473,000 2,531,000 1,865,000
Changes in operating assets and liabilities:      
Accounts and notes receivable, current portion (3,841,000) (999,000) (1,466,000)
Advances from/to affiliates 71,000 (771,000) (161,000)
Other current and noncurrent assets 362,000 502,000 100,000
Other current and noncurrent liabilities (2,865,000) 7,000,000 1,816,000
Income taxes receivable/payable (71,000) 2,770,000 (222,000)
Deferred revenue and deposits current portion (254,000) 866,000 1,094,000
Payment pursuant to tax receivable agreement (1,344,000) 0 (986,000)
Net cash provided by operating activities 64,379,000 77,358,000 64,445,000
Cash flows from investing activities:      
Purchases of property, equipment and software (4,395,000) (3,546,000) (2,026,000)
Proceeds from sale of property and equipment 50,000 25,000 5,000
Capitalization of trademark costs (107,000) (82,000) (122,000)
Acquisitions, net of cash acquired of $466 (112,934,000)    
Dispositions 200,000 5,650,000 100,000
Cost to sell assets (146,000) (383,000)  
Net cash provided by (used in) investing activities (117,332,000) 1,664,000 (2,043,000)
Cash flows from financing activities:      
Proceeds from issuance of debt, net 233,825,000    
Payments on debt (203,223,000) (9,400,000) (16,816,000)
Debt issuance and capitalized debt amendment costs (1,379,000) (555,000)  
Distributions to non-controlling unitholders (17,927,000) (42,827,000) (22,197,000)
Dividends paid to Class A common stockholders (10,578,000) (24,003,000) (2,901,000)
Payments on capital lease obligations (75,000) (322,000) (204,000)
Proceeds from exercise of stock options 101,000 2,248,000 486,000
Payment of payroll taxes related to net settled restricted stock units (516,000) (327,000) (1,781,000)
Net cash provided by (used in) financing activities 228,000 (75,186,000) (43,413,000)
Effect of exchange rate changes on cash 122,000 (823,000) (165,000)
Net (decrease) increase in cash and cash equivalents (52,603,000) 3,013,000 18,824,000
Cash and cash equivalents, beginning of year 110,212,000 107,199,000 88,375,000
Cash and cash equivalents, end of year 57,609,000 110,212,000 107,199,000
Supplemental disclosures of cash flow information:      
Cash paid for interest and debt amendment costs 7,797,000 9,319,000 8,880,000
Net cash paid for income taxes 11,912,000 5,841,000 8,521,000
Schedule of non-cash investing and financing activities:      
Establishment of amounts payable under tax receivable agreements   33,018,000 436,000
Establishment of deferred tax assets   43,774,000 917,000
Note receivable received as consideration for sale of brokerage operations assets 150,000 851,000  
Capital leases for property and equipment 48,000 412,000 18,000
Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software 150,000 $ 667,000 $ 165,000
Contingent consideration issued in a business combination $ 6,400,000