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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income/(loss) $ 32,777 $ (21,888)
Adjustments to reconcile net income/(loss) to net cash (used in)/provided by operating activities:    
Advisory fees received in gold, other precious metals and cryptocurrencies (39,341) (29,135)
Contractual gold payments 8,584 7,823
Stock-based compensation 5,264 6,159
(Gain/)/loss on revaluation of deferred consideration – gold payments (3,329) 25,566
Deferred income taxes 3,367 832
Amortization of right of use asset 1,340 1,588
Amortization of issuance costs – convertible notes 899 115
Depreciation and amortization 508 507
Impairments 303 19,672
Gain on sale – Canadian ETF business   (2,877)
Loss on extinguishment of debt   2,387
Amortization of issuance costs – former credit facility   1,328
Other (372) (83)
Changes in operating assets and liabilities:    
Securities owned, at fair value (23,911) 4,209
Accounts receivable (2,622) 4,461
Prepaid expenses (2,497) (2,016)
Gold, other precious metals and cryptocurrencies 27,959 20,882
Other assets (202) (702)
Fund management and administration payable (896) 1,677
Compensation and benefits payable (7,396) (18,431)
Income taxes receivable/payable (1,852) (1,046)
Securities sold, but not yet purchased, at fair value   (582)
Operating lease liabilities (1,658) (1,845)
Accounts payable and other liabilities 858 781
Net cash (used in)/provided by operating activities (2,217) 19,382
Cash flows from investing activities:    
Purchase of investments (5,750)  
Purchase of fixed assets (173) (224)
Proceeds from held-to-maturity securities maturing or called prior to maturity 77 16,365
Proceeds from the sale of the Company's financial interests in AdvisorEngine Inc.   8,155
Proceeds from sale of Canadian ETF business, net   2,774
Net cash (used in)/provided by investing activities (5,846) 27,070
Cash flows from financing activities:    
Shares repurchased (34,506) (26,444)
Dividends paid (9,865) (10,270)
Convertible notes issuance costs (4,297) (4,611)
Repayment of debt   (179,000)
Proceeds from the issuance of convertible notes 150,000 150,000
Proceeds from exercise of stock options 815 240
Net cash provided by/(used in) financing activities 102,147 (70,085)
Increase/(decrease) in cash flow due to changes in foreign exchange rate 126 (1,084)
Increase/(decrease) in cash and cash equivalents 94,210 (24,717)
Cash and cash equivalents—beginning of year 73,425 74,972
Cash and cash equivalents—end of period 167,635 50,255
Supplemental disclosure of cash flow information:    
Cash paid for taxes 5,846 2,200
Cash paid for interest $ 3,719 $ 3,390