XML 17 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 10,071 $ 10,396
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,995 3,721
Bad debt expense 343 146
Loss on early extinguishment of debt   136
Equity-based compensation expense 562 766
Deferred income tax expense 1,178 1,153
Fair value adjustments to contingent consideration 130  
Other, net 115 222
Changes in operating assets and liabilities (4,299) (4,062)
Net cash provided by operating activities 14,095 12,478
Cash flows from investing activities:    
Purchases of property, equipment and software (640) (1,389)
Capitalization of trademark costs (17) (13)
Acquisitions, net of cash acquired of $0 and $131   (8,369)
Other investing activity, net   54
Net cash used in investing activities (657) (9,717)
Cash flows from financing activities:    
Payments on debt (588) (13,247)
Distributions to non-controlling unitholders (2,281) (1,884)
Dividends paid to Class A common stockholders (3,184) (2,638)
Payments on capital lease obligations (4) (27)
Payment of payroll taxes related to net settled restricted stock units (450)  
Net cash used in financing activities (6,507) (17,796)
Effect of exchange rate changes on cash 98 496
Net decrease in cash and cash equivalents 7,029 (14,539)
Cash and cash equivalents, beginning of year 57,609 110,212
Cash and cash equivalents, end of year 64,638 95,673
Supplemental disclosures of cash flow information:    
Cash paid for interest 2,600 2,280
Net cash paid for income taxes 1,008 1,253
Schedule of non-cash investing and financing activities:    
Tax and other distributions payable to non-controlling unitholders 3,568 3,003
Note receivable received as consideration for sale of brokerage operations assets   150
Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software $ 134 $ 456