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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flows from operating activities:      
Net (loss)/income $ (10,425) $ 36,633 $ 27,199
Adjustments to reconcile net (loss)/income to net cash provided by operating activities:      
Advisory fees received in gold and other precious metals (49,887) (32,238)  
Impairments 30,710 17,386  
Contractual gold payments 13,226 8,512  
Stock-based compensation 11,590 13,255 14,717
Loss/(gain) on revaluation of deferred consideration – gold payments [1] 11,293 (12,220)  
Amortization of right of use asset 3,174    
Amortization of credit facility issuance costs 2,888 2,087  
Paid-in-kind interest income (Note 9) (2,498) (1,974)  
Depreciation and amortization 1,045 1,301 1,395
Deferred income taxes (349) (6,083) 8,838
Settlement gain     (6,909)
Other (173) 798 921
Changes in operating assets and liabilities:      
Securities owned, at fair value (8,446) (7,182) (135)
Accounts receivable (19) 3,804 (3,532)
Income taxes receivable/payable 4,524 5,706 (11,211)
Prepaid expenses 738 427 (204)
Gold and other precious metals 35,886 25,604  
Other assets 172 984 (408)
Acquisition payable     (3,547)
Fund management and administration payable (476) 221 6,203
Compensation and benefits payable 7,885 (16,050) 13,126
Securities sold, but not yet purchased, at fair value (1,116) 748 (299)
Operating lease liabilities (3,587)    
Accounts payable and other liabilities 677 (4,251) 2,354
Net cash provided by operating activities 46,832 37,468 48,508
Cash flows from investing activities:      
Purchase of fixed assets (47) (71) (295)
Purchase of investments (Note 10) (8,112)   (8,278)
Funding of notes receivable (Note 9) (2,090) (8,000) (18,748)
Proceeds from held-to-maturity securities maturing or called prior to maturity 3,244 1,107 4,194
Purchase of securities held-to-maturity     (3,009)
Purchase of debt securities available-for-sale     (99,848)
Proceeds from sales and maturities of debt securities available-for-sale   64,498 91,095
Cash paid for acquisition, net of cash acquired (Note 3)   (239,313)  
Cash paid – Acquisition of the right to manage Questrade's ETFs (Note 25)     (2,132)
Net cash used in investing activities (7,005) (181,779) (37,021)
Cash flows from financing activities:      
Dividends paid (20,385) (19,236) (43,777)
Repayment of debt (21,000)    
Shares repurchased (2,341) (2,885) (7,891)
Credit facility issuance costs 0 (8,690)  
Preferred stock issuance costs 0 (181)  
Proceeds from the issuance of debt (Note 3) 0 200,000  
Proceeds from exercise of stock options 160 191 532
Net cash (used in)/provided by financing activities (43,566) 169,199 (51,136)
Increase/(decrease) in cash flow due to changes in foreign exchange rate 927 (1,297) 1,120
Net (decrease)/increase in cash and cash equivalents (2,812) 23,591 (38,529)
Cash and cash equivalents—beginning of year 77,784 54,193 92,722
Cash and cash equivalents—end of year 74,972 77,784 54,193
Supplemental disclosure of cash flow information:      
Cash paid for taxes 10,060 14,398 $ 33,113
Cash paid for interest $ 8,037 $ 5,577  
[1] (Losses)/gains arise due to increases/(decreases) in the forward-looking price of gold and the magnitude of any gain or loss is highly correlated to the magnitude of the change in the forward-looking price of gold. See Note 5 for a reconciliation of changes in the deferred consideration balances