Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.7.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash Flows From Operating Activities    
Net income $ 3,300 $ 2,496
Adjustments to reconcile net income to net cash used in operating activities:    
Equity-based compensation 810 772
Depreciation and amortization 665 665
Deferred rent (91) (107)
Deferred income taxes 431 367
Tax receivable agreement adjustment 122  
Non-cash interest on notes receivable from partners (9) (15)
Distributions received from investment funds 322 1
Other (1) (2)
Cash flows due to changes in operating assets and liabilities:    
Receivables and due from Silvercrest Funds 1,061 1,519
Prepaid expenses and other assets (516) (556)
Accounts payable and accrued expenses (158) 547
Accrued compensation (17,223) (16,357)
Interest payable on notes payable 29 53
Net cash used in operating activities (11,258) (10,617)
Cash Flows From Investing Activities    
Restricted certificates of deposit and escrow   507
Acquisition of furniture, equipment and leasehold improvements (93) (48)
Acquisition of Cappiccille & Company, LLC   (148)
Net cash (used in) provided by investing activities (93) 311
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions completed on or after January 1, 2009 (756) (180)
Repayments of notes payable (96) (101)
Payments on capital leases (34) (43)
Distributions to partners (1,949) (1,375)
Dividends paid on Class A common stock (969) (959)
Payments from partners on notes receivable 346 508
Net cash used in financing activities (3,458) (2,150)
Net decrease in cash and cash equivalents (14,809) (12,456)
Cash and cash equivalents, beginning of period 37,517 31,562
Cash and cash equivalents, end of period 22,708 19,106
Net cash paid during the period for:    
Income taxes 790 967
Interest 1 6
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 139 152
Asset acquired under capital lease $ 163  
Earnout accrual for acquisition of certain assets of Cappiccille & Company LLC   $ 354