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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities:    
Net income $ 24,390 $ 23,758
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 11,099 9,644
Bad debt expense 2,560 823
Loss (gain) on sale or disposition of assets and sublease, net 363 (141)
Equity-based compensation expense 5,847 3,424
Deferred income tax expense 2,521 2,060
Fair value adjustments to contingent consideration 345 80
Payments pursuant to tax receivable agreements (2,854) 0
Other, net 685 567
Changes in operating assets and liabilities (11,973) (6,285)
Net cash provided by operating activities 32,983 33,930
Cash flows from investing activities:    
Purchases of property, equipment and software and capitalization of trademark costs (7,378) (1,441)
Acquisitions, net of cash acquired of $0 and $362, respectively 0 (25,888)
Restricted cash acquired with the Marketing Funds acquisition 28,495 0
Other (1,200) 0
Net cash provided by (used in) investing activities 19,917 (27,329)
Cash flows from financing activities:    
Payments on debt (1,311) (1,554)
Distributions paid to non-controlling unitholders (7,306) (7,818)
Dividends and dividend equivalents paid to Class A common stockholders (7,522) (7,209)
Payment of payroll taxes related to net settled restricted stock units (731) (895)
Payment of contingent consideration 0 (50)
Net cash used in financing activities (16,870) (17,526)
Effect of exchange rate changes on cash 109 (43)
Net increase (decrease) in cash, cash equivalents and restricted cash 36,139 (10,968)
Cash, cash equivalents and restricted cash, beginning of year 59,974 50,807
Cash, cash equivalents and restricted cash, end of period 96,113 39,839
Supplemental disclosures of cash flow information:    
Cash paid for interest 5,948 5,616
Net cash paid for income taxes 3,885 3,741
Schedule of non cash investing activities:    
Property, equipment, software and trademarks included in accounts payable and accrued liabilities $ 547 $ 259