Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash Flows From Operating Activities    
Net income $ 4,050 $ 3,300
Adjustments to reconcile net income to net cash used in operating activities:    
Equity-based compensation 800 810
Depreciation and amortization 613 665
Deferred rent 1,292 (91)
Deferred income taxes 130 431
Tax receivable agreement adjustment 474 122
Non-cash interest on notes receivable from partners (8) (9)
Distributions received from investment funds   322
Other   (1)
Cash flows due to changes in operating assets and liabilities:    
Receivables and due from Silvercrest Funds (573) 1,061
Prepaid expenses and other assets (1,679) (516)
Accounts payable and accrued expenses 134 (158)
Accrued compensation (20,412) (17,223)
Interest payable on notes payable 9 29
Net cash used in operating activities (15,170) (11,258)
Cash Flows From Investing Activities    
Acquisition of furniture, equipment and leasehold improvements (143) (93)
Net cash used in investing activities (143) (93)
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions completed on or after January 1, 2009 (447) (756)
Repayments of notes payable   (96)
Payments on capital leases (4) (34)
Distributions to partners (2,072) (1,949)
Dividends paid on Class A common stock (1,144) (969)
Payments from partners on notes receivable 552 346
Net cash used in financing activities (3,115) (3,458)
Net decrease in cash and cash equivalents (18,428) (14,809)
Cash and cash equivalents, beginning of period 53,822 37,517
Cash and cash equivalents, end of period 35,394 22,708
Net cash paid during the period for:    
Income taxes 2,398 790
Interest 3 1
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 552 139
Asset acquired under capital lease $ 11 $ 163