Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Cash Flows From Operating Activities    
Net income $ 7,962 $ 13,179
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity-based compensation 848 1,207
Depreciation and amortization 1,489 1,455
Deferred rent (320) (335)
Provision for doubtful accounts 227  
Deferred income taxes 1,830 44
Non-cash interest on notes receivable from partners (47) (62)
Distributions received from investment funds 3 1,900
Other 4 (4)
Cash flows due to changes in operating assets and liabilities:    
Receivables and due from Silvercrest Funds (175) (227)
Prepaid expenses and other assets 1,682 (561)
Accounts payable and accrued expenses (2,280) 80
Accrued compensation (1,250) 3,003
Other liabilities 647 33
Interest payable on notes payable 249 235
Net cash provided by operating activities 10,869 19,947
Cash Flows From Investing Activities    
Restricted certificates of deposit and escrow 435 (57)
Acquisition of furniture, equipment and leasehold improvements (337) (73)
Earn-outs paid related to acquisitions completed before January 1, 2009 (1,679) (703)
Acquisition of Ten-Sixty Asset Management, LLC   (2,500)
Net cash used in investing activities (1,581) (3,333)
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions completed on or after January 1, 2009 (511) (462)
Borrowings under revolving credit facility   7,000
Payments under revolving credit facility   (2,000)
Contributions from partners   165
Redemptions of partners’ interests (270) (451)
Repayments of notes payable (421) (704)
Payments on capital leases (38) (14)
Distributions to partners (5,244) (29,327)
Offering costs   (1,420)
Dividends paid on Class A common stock (2,724)  
Payments from partners on notes receivable 741 887
Purchase of Class B units from partners of Silvercrest LP   (35,365)
Sale and issuance of Silvercrest Asset Management Group Inc. Class A common stock   56,689
Net cash used in financing activities (8,467) (5,002)
Net increase in cash and cash equivalents 821 11,612
Cash and cash equivalents, beginning of period 27,122 13,443
Cash and cash equivalents, end of period 27,943 25,055
Net cash paid during the period for:    
Income taxes 4,308 1,067
Interest 133 73
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Notes receivable from new partners issued as capital contributions to Silvercrest L.P.   455
Accrual of partner incentive distributions   6,000
Issuance of notes for redemption of partnership interest   5,300
Common stock surrendered 92  
Recognition of deferred tax assets as a result of IPO 11 12,806
Recognition of tax receivable agreement liability 15,897 3,734
Asset acquired under capital lease 321  
Ten-Sixty
    
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Issuance of notes payable for acquisition of Ten-Sixty Asset Management, LLC   $ 1,592