Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flows From Operating Activities    
Net income $ 12,396 $ 4,335
Adjustments to reconcile net income to net cash used in operating activities:    
Equity-based compensation 228 469
Depreciation and amortization 957 968
Deferred income taxes 1,801 (12)
Non-cash interest on notes receivable from partners (1) (2)
Interest on notes payable (1) 32
Non-cash lease expense 1,098 814
Distributions received from investment funds   861
Cash flows due to changes in operating assets and liabilities:    
Receivables and Due from Silvercrest Funds (1,452) (458)
Prepaid expenses and other assets (417) (652)
Accounts payable and accrued expenses (5,965) 3,045
Accrued compensation (31,003) (24,096)
Operating lease liabilities (1,197) (896)
Deferred and other liabilities 1 (2)
Net cash used in operating activities (23,555) (15,594)
Cash Flows From Investing Activities    
Acquisition of furniture, equipment and leasehold improvements (33) (142)
Net cash used in investing activities (33) (142)
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions   (114)
Repayments of notes payable (900) (900)
Principal payments on financing leases (30) (30)
Distributions to partners (2,685) (1,758)
Dividends paid on Class A common stock (1,678) (1,544)
Payments from partners on notes receivable 157 228
Net cash used in financing activities (5,136) (4,118)
Net increase (decrease) in cash and cash equivalents (28,724) (19,854)
Cash and cash equivalents, beginning of period 85,744 62,498
Cash and cash equivalents, end of period 57,020 42,644
Net cash paid during the period for:    
Income taxes 612 1,273
Interest 69 64
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 14 21
Notes receivable from new partners issued for capital contributions to Silvercrest L.P.   475
Assets acquired under finance lease   86
Accrued dividends 4  
Non-controlling Interest    
Cash Flows From Operating Activities    
Net income 4,828 1,783
Adjustments to reconcile net income to net cash used in operating activities:    
Deferred income taxes $ 25 13
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Notes receivable from new partners issued for capital contributions to Silvercrest L.P.   $ 475