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
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities    
Net income $ 6,900 $ 4,602
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Equity-based compensation 1,615 1,575
Depreciation and amortization 1,347 1,341
Deferred rent (195) (214)
Deferred income taxes 907 1,086
Tax receivable agreement adjustment 122 (100)
Non-cash interest on notes receivable from partners (19) (29)
Distributions received from investment funds 322 2
Cash flows due to changes in operating assets and liabilities:    
Receivables and due from Silvercrest Funds 627 874
Prepaid expenses and other assets 369 (645)
Accounts payable and accrued expenses (562) (432)
Accrued compensation (10,565) (11,084)
Interest payable on notes payable 58 105
Net cash provided by (used in) operating activities 926 (2,919)
Cash Flows From Investing Activities    
Restricted certificates of deposit and escrow   507
Acquisition of furniture, equipment and leasehold improvements (493) (195)
Acquisition of Cappiccille & Company, LLC   (148)
Net cash (used in) provided by investing activities (493) 164
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions completed on or after January 1, 2009 (756) (630)
Repayments of notes payable (890) (1,031)
Payments on capital leases (76) (87)
Distributions to partners (4,642) (4,415)
Dividends paid on Class A common stock (1,942) (1,922)
Payments from partners on notes receivable 371 533
Net cash used in financing activities (7,935) (7,552)
Net decrease in cash and cash equivalents (7,502) (10,307)
Cash and cash equivalents, beginning of period 37,517 31,562
Cash and cash equivalents, end of period 30,015 21,255
Net cash paid during the period for:    
Income taxes 1,182 2,528
Interest 73 119
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
Note receivable from new partners issued for capital contribution to Silvercrest L.P. $ 165 $ 120