Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.8.0.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash Flows From Operating Activities    
Net income $ 10,614 $ 7,495
Adjustments to reconcile net income to net cash provided by operating activities:    
Equity-based compensation 2,447 2,417
Depreciation and amortization 2,051 2,012
Deferred rent (298) (324)
Deferred income taxes 1,273 1,227
Tax receivable agreement adjustment 217 123
Non-cash interest on notes receivable from partners (27) (43)
Distributions received from investment funds 322 2
Cash flows due to changes in operating assets and liabilities:    
Receivables and due from Silvercrest Funds 32 1,796
Prepaid expenses and other assets 1,756 (451)
Accounts payable and accrued expenses (921) 224
Accrued compensation (3,663) (5,305)
Interest payable on notes payable 71 140
Net cash provided by operating activities 13,874 9,313
Cash Flows From Investing Activities    
Restricted certificates of deposit and escrow   507
Acquisition of furniture, equipment and leasehold improvements (583) (290)
Acquisition of Cappiccille & Company, LLC   (148)
Net cash (used in) provided by investing activities (583) 69
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions completed on or after January 1, 2009 (756) (630)
Repayments of notes payable (1,826) (2,102)
Payments on capital leases (121) (131)
Distributions to partners (6,001) (5,760)
Dividends paid on Class A common stock (2,917) (2,887)
Payments from partners on notes receivable 371 533
Net cash used in financing activities (11,250) (10,977)
Net increase (decrease) in cash and cash equivalents 2,041 (1,595)
Cash and cash equivalents, beginning of period 37,517 31,562
Cash and cash equivalents, end of period 39,558 29,967
Net cash paid during the period for:    
Income taxes 1,179 3,505
Interest 115 202
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 247 234
Asset acquired under capital lease 241  
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