Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.4.0.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash Flows From Operating Activities    
Net income $ 2,496 $ 2,810
Adjustments to reconcile net income to net cash used in operating activities:    
Equity-based compensation 772 115
Depreciation and amortization 665 460
Deferred rent (107) (116)
Deferred income taxes 367 645
Non-cash interest on notes receivable from partners (15) (18)
Distributions received from investment funds 1 1,292
Other (2)  
Cash flows due to changes in operating assets and liabilities:    
Receivables and due from Silvercrest Funds 1,519 1,420
Prepaid expenses and other assets (556) (1,390)
Accounts payable and accrued expenses 547 681
Accrued compensation (16,357) (16,191)
Interest payable on notes payable 53 46
Net cash used in operating activities (10,617) (10,246)
Cash Flows From Investing Activities    
Restricted certificates of deposit and escrow 507  
Acquisition of furniture, equipment and leasehold improvements (48) (162)
Acquisition of Cappiccille & Company, LLC (148)  
Net cash provided by (used in) investing activities 311 (162)
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions completed on or after January 1, 2009 (180)  
Repayments of notes payable (101) (129)
Payments on capital leases (43) (19)
Distributions to partners (1,375) (1,241)
Dividends paid on Class A common stock (959) (932)
Payments from partners on notes receivable 508 481
Net cash used in financing activities (2,150) (1,840)
Net decrease in cash and cash equivalents (12,456) (12,248)
Cash and cash equivalents, beginning of period 31,562 30,820
Cash and cash equivalents, end of period 19,106 18,572
Net cash paid during the period for:    
Income taxes 967 1,054
Interest 6 11
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of IPO   184
Recognition of deferred tax assets as a result of share conversions 152  
Asset acquired under capital lease   $ 11
Earnout accrual for acquisition of certain assets of Cappiccille & Company, LLC $ 354