Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.23.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows From Operating Activities    
Net income $ 5,310 $ 12,396
Adjustments to reconcile net income to net cash (used in) operating activities:    
Equity-based compensation 312 228
Depreciation and amortization 959 957
Deferred income taxes 302 1,801
Non-cash interest on notes receivable from partners (1) (1)
Interest on notes payable (4) (1)
Non-cash lease expense (67) 1,098
Cash flows due to changes in operating assets and liabilities:    
Receivables and Due from Silvercrest Funds (1,232) (1,452)
Prepaid expenses and other assets (676) (417)
Accounts payable and accrued expenses 1,277 (5,965)
Accrued compensation (31,670) (31,003)
Operating lease liabilities (30) (1,197)
Deferred and other liabilities   1
Net cash used in operating activities (25,520) (23,555)
Cash Flows From Investing Activities    
Acquisition of furniture, equipment and leasehold improvements (1,063) (33)
Net cash used in investing activities (1,063) (33)
Cash Flows From Financing Activities    
Repayments of notes payable (1,800) (900)
Principal payments on financing leases (29) (30)
Distributions to partners (4,114) (2,685)
Dividends paid on Class A common stock (1,736) (1,678)
Purchase of shares of Class A common stock of Silvercrest Asset Management Group Inc. (1,627)  
Payments from partners on notes receivable 95 157
Net cash used in financing activities (9,211) (5,136)
Effect of exchange rate changes on cash and cash equivalents (2)  
Net decrease in cash and cash equivalents (35,796) (28,724)
Cash and cash equivalents, beginning of period 77,432 85,744
Cash and cash equivalents, end of period 41,636 57,020
Net cash paid during the period for:    
Income taxes 574 612
Interest 101 69
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions (10) 14
Accrued dividends 4 $ 4
Purchase of shares of Class A common stock excise tax accrual $ 16