v3.24.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Cash Flows from Operating Activities    
Net income $ 13,025 $ 15,825
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity-based compensation 1,374 1,047
Depreciation and amortization 3,111 3,013
Deferred income taxes 1,493 1,579
Tax receivable agreement adjustment   40
Non-cash interest on notes receivable from partners (1) (3)
Interest on notes payable (19) (13)
Non-cash lease expense 3,322 2,955
Cash flows due to changes in operating assets and liabilities:    
Receivables and Due from Silvercrest Funds (3,609) (1,301)
Prepaid expenses and other assets 279 76
Accounts payable and accrued expenses (50) 45
Accrued compensation (10,133) (14,915)
Operating lease liabilities (3,609) (2,100)
Net cash provided by operating activities 5,183 6,248
Cash Flows from Investing Activities    
Acquisition of furniture, equipment and leasehold improvements (1,337) (3,355)
Net cash used in investing activities (1,337) (3,355)
Cash Flows from Financing Activities    
Earn-outs paid related to acquisitions (75) (75)
Repayments of notes payable (2,700) (2,700)
Principal payments on financing leases (91) (86)
Distributions to partners (6,395) (7,759)
Dividends paid on Class A common stock (5,519) (5,212)
Purchase of shares of Class A common stock of Silvercrest Asset Management Group Inc. (1,351) (5,705)
Payments from partners on notes receivable 94 95
Net cash used in financing activities (16,037) (21,442)
Effect of exchange rate changes on cash and cash equivalents (7) (16)
Net Decrease in Cash and Cash Equivalents (12,198) (18,565)
Cash and cash equivalents, beginning of period 70,301 77,432
Cash and cash equivalents, end of period 58,103 58,867
Net cash paid during the period for:    
Income taxes 1,233 1,585
Interest 60 273
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 172 141
Accrued dividends 22 13
Purchase of shares of Class A common stock excise tax accrual 13 57
Non-controlling Interest    
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred income taxes 12 17
Neosho Capital, LLC | Non-controlling Interest    
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Issuance of Class B shares of Silvercrest L.P. in conjunction with the acquisition of Neosho $ 25 $ 25

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