Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Financial Condition (Unaudited)

v3.20.1
Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2020
Dec. 31, 2019
Assets    
Cash and cash equivalents $ 32,753 $ 52,832
Investments 777 1,781
Receivables, net 6,961 8,958
Due from Silvercrest Funds 1,891 1,697
Furniture, equipment and leasehold improvements, net 5,915 6,015
Goodwill 63,675 63,675
Operating lease assets 33,162 33,485
Finance lease assets 162 198
Intangible assets, net 28,582 29,286
Deferred tax asset—tax receivable agreement 11,419 13,190
Prepaid expenses and other assets 3,864 3,132
Total assets 189,161 214,249
Liabilities and Equity    
Accounts payable and accrued expenses 11,759 18,527
Accrued compensation 8,342 32,252
Borrowings under credit facility 15,300 16,200
Operating lease liabilities 39,448 39,848
Finance lease liabilities 160 196
Deferred tax and other liabilities 10,358 9,419
Total liabilities 85,367 116,442
Commitments and Contingencies (Note 10)
Equity    
Preferred Stock, par value $0.01, 10,000,000 shares authorized; none issued and outstanding, as of March 31, 2020 and December 31, 2019
Additional Paid-In Capital 50,040 49,246
Retained earnings 19,660 15,648
Total Silvercrest Asset Management Group Inc.’s equity 69,842 65,036
Non-controlling interests 33,952 32,771
Total equity 103,794 97,807
Total liabilities and equity 189,161 214,249
Class A Common Stock    
Equity    
Class A common stock, par value $0.01, 50,000,000 shares authorized; 9,505,765 and 9,329,879 issued and outstanding, as of March 31, 2020 and December 31, 2019, respectively 95 93
Total equity 95 93
Class B Common Stock    
Equity    
Class A common stock, par value $0.01, 50,000,000 shares authorized; 9,505,765 and 9,329,879 issued and outstanding, as of March 31, 2020 and December 31, 2019, respectively 47 49
Total equity $ 47 $ 49