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Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 50,099 $ 47,559
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 17,112 15,180
Interest (income) expense, net (45) 407
Share-based compensation 7,974 6,173
Debt acquisition cost write-down 92 130
Changes in certain assets and liabilities:    
Fees and other receivables, net (863) (3,145)
Receivables from related party 480 (333)
Prepaid expenses and other current assets 2,954 3,887
Accounts payable, accrued liabilities and other current liabilities 13,614 (13,236)
Income tax receivable and payable, net 14,062 (1,354)
Net cash provided by operating activities 105,479 55,268
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of Adhesion Wealth (3,000) 0
Purchase of investments (1,528) (1,780)
Sale of investments 257 361
Purchase of property and equipment (469) (1,222)
Purchase of computer software (20,920) (17,180)
Purchase of convertible notes (4,275) 0
Net cash used in investing activities (29,935) (19,821)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from issuance of long-term debt, net 0 122,508
Payments on revolving credit facility 0 (115,000)
Payments on term loan (25,000) (3,125)
Net cash (used in) provided by financing activities (25,000) 4,383
Net change in cash, cash equivalents, and restricted cash 50,544 39,830
Cash, cash equivalents, and restricted cash at beginning of period 136,274 89,707
Cash, cash equivalents, and restricted cash at end of period 186,818 129,537
SUPPLEMENTAL CASH FLOW INFORMATION    
Income taxes paid, net 4,298 16,905
Interest paid 5,736 1,376
Non-cash operating and investing activities:    
Non-cash changes to right-of-use assets 1,795 2,161
Non-cash changes to lease liabilities $ 1,795 $ 2,161