Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.21.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash Flows From Operating Activities    
Net income $ 9,996 $ 10,472
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Equity-based compensation 762 263
Depreciation and amortization 1,962 2,027
Deferred income taxes 74 1,958
Non-cash interest on notes receivable from partners (3) (4)
Interest on notes payable 28  
Non-cash lease expense 1,880 1,347
Distributions received from investment funds 861 1,004
Cash flows due to changes in operating assets and liabilities:    
Receivables and Due from Silvercrest Funds (1,714) 806
Prepaid expenses and other assets (900) (638)
Accounts payable and accrued expenses 4,380 (2,687)
Accrued compensation (13,319) (17,535)
Operating lease liabilities (2,056) (1,479)
Deferred and other liabilities   40
Net cash provided by (used in) operating activities 1,951 (4,426)
Cash Flows From Investing Activities    
Acquisition of furniture, equipment and leasehold improvements (396) (360)
Net cash used in investing activities (396) (360)
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions (349) (741)
Repayments of notes payable (1,800) (1,800)
Principal payments on financing leases (60) (59)
Distributions to partners (5,350) (5,024)
Dividends paid on Class A common stock (3,091) (3,043)
Payments from partners on notes receivable 228 300
Net cash used in financing activities (10,422) (10,367)
Net decrease in cash and cash equivalents (8,867) (15,153)
Cash and cash equivalents, beginning of period 62,498 52,832
Cash and cash equivalents, end of period 53,631 37,679
Net cash paid during the period for:    
Income taxes 2,672 1,640
Interest 156 308
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 48 623
Assets acquired under finance lease 137  
Non-controlling Interest    
Adjustments to reconcile net income to net cash provided by (used in) operating activities:    
Deferred income taxes (19) 69
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Notes receivable from new partners issued for capital contributions to Silvercrest L.P. 475  
Neosho Capital, LLC    
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions (100) $ (300)
Neosho Capital, LLC | Non-controlling Interest    
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Issuance of Class B shares of Silvercrest L.P. in conjunction with the acquisition of Neosho $ 25