Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.5.0.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows From Operating Activities    
Net income $ 4,602 $ 6,137
Adjustments to reconcile net income to net cash used in operating activities:    
Equity-based compensation 1,575 220
Depreciation and amortization 1,341 920
Deferred rent (214) (232)
Deferred income taxes 1,086 2,240
Tax receivable agreement adjustment (100) (990)
Non-cash interest on notes receivable from partners (29) (34)
Distributions received from investment funds 2 1,292
Other   2
Cash flows due to changes in operating assets and liabilities:    
Receivables and due from Silvercrest Funds 874 726
Prepaid expenses and other assets (645) (945)
Accounts payable and accrued expenses (432) (346)
Accrued compensation (11,084) (10,590)
Interest payable on notes payable 105 90
Net cash used in operating activities (2,919) (1,510)
Cash Flows From Investing Activities    
Restricted certificates of deposit and escrow 507 (1)
Acquisition of furniture, equipment and leasehold improvements (195) (275)
Net cash provided by (used in) investing activities 164 (3,826)
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions completed on or after January 1, 2009 (630) (570)
Repayments of notes payable (1,031) (233)
Payments on capital leases (87) (38)
Distributions to partners (4,415) (4,125)
Dividends paid on Class A common stock (1,922) (1,874)
Payments from partners on notes receivable 533 481
Net cash used in financing activities (7,552) (6,359)
Net decrease in cash and cash equivalents (10,307) (11,695)
Cash and cash equivalents, beginning of period 31,562 30,820
Cash and cash equivalents, end of period 21,255 19,125
Net cash paid during the period for:    
Income taxes 2,528 2,425
Interest 119 20
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 152 472
Asset acquired under capital lease   11
Note receivable from new partner issued for capital contribution to Silvercrest L.P. 120  
Class B Common Stock    
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Issuance of Class B shares of Silvercrest L.P. in conjunction with the acquisition of certain assets of Jamison   3,562
Issuance of Class B shares of Silvercrest L.P. in conjunction with the acquisition of certain assets of Jamison, par value $0.01   3
Jamison    
Cash Flows From Investing Activities    
Acquisition   (3,550)
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Issuance of notes payable for acquisition   2,165
Earnout accrual for acquisition   $ 1,429
Cappiccille    
Cash Flows From Investing Activities    
Acquisition (148)  
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Earnout accrual for acquisition $ 354