XML 24 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities    
Net income $ 4,650 $ 1,036
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Stock-based compensation (37) 836
Amortization of debt issuance costs 979 135
Accretion of debt discount 552 198
Provision for (benefit from) deferred taxes 82 (66)
Depreciation and amortization 235 188
Net change in unrealized depreciation on investments 72 110
Income from equity method investments (69) (12)
Reclassification of cumulative dividends paid on forfeited restricted stock units 416 0
Other non-cash amounts 0 27
Changes in operating assets and liabilities:    
Management fees receivable 1,404 3,144
Performance fees receivable (2,217) (574)
Other assets 715 872
Accounts payable, accrued expenses and other liabilities (9,519) (3,201)
Net cash provided by operating activities 1,697 3,841
Cash flows from investing activities    
Purchases of fixed assets (18) (1,867)
Distributions received from equity method investments 17 810
Purchases of available-for-sale securities (3,728) 0
Net cash used in investing activities (3,729) (1,057)
Cash flows from financing activities    
Repayment of loans payable (44,800) (312)
Proceeds from issuance of senior unsecured debt 69,108 0
Capital contributions from redeemable non-controlling interests 5,000 0
Distributions to members and redeemable non-controlling interests (6,240) (6,214)
Debt issuance costs (2,585) 0
Dividends paid (1,600) (1,314)
Repurchases of Class A common stock (401) (1,198)
Capital contributions to equity method investments (214) (53)
Net cash provided by (used in) financing activities 18,268 (9,091)
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents 16,236 (6,307)
Cash, cash equivalents and restricted cash equivalents, beginning of period 54,563 71,688
Cash, cash equivalents and restricted cash equivalents, end of period 70,799 65,381
Reconciliation of cash, cash equivalents, and restricted cash equivalents reported on the condensed consolidated balance sheets to the total of such amounts reported on the condensed consolidated statements of cash flows    
Total cash, cash equivalents and restricted cash equivalents 54,563 71,688
Supplemental cash flow information    
Fixed assets 0 2,293
Reclassification of redeemable non-controlling interest $ 0 $ 12,155