Annual report [Section 13 and 15(d), not S-K Item 405]

Consolidated Statements of Cash Flows

v3.25.0.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash Flows From Operating Activities      
Net income $ 15,709 $ 15,183 $ 30,793
Adjustments to reconcile net income to net cash provided by operating activities:      
Equity-based compensation 1,916 1,627 1,149
Depreciation and amortization 4,146 4,014 3,883
Deferred income taxes 2,014 2,186 3,967
Tax receivable agreement adjustment (78) 2 (202)
Non-cash interest on notes receivable from partners (1) (4) (3)
Non-cash lease expense 3,580 4,041 2,477
Distributions received from investment funds 18   1,411
Equity income from investments (1,154) (73) 31
Cash flows due to changes in operating assets and liabilities:      
Receivables and due from Silvercrest Funds (3,086) (389) (417)
Prepaid expenses and other assets (53) (170) (2,765)
Accounts payable and accrued expenses 111 214 (12,161)
Accrued compensation 2,494 (2,363) (1,973)
Operating lease liabilities (4,007) (3,275) (2,819)
Interest payable on notes payable (19) (18) 12
Net cash provided by operating activities 21,590 20,975 23,383
Cash Flows From Investing Activities      
Acquisition of furniture, equipment and leasehold improvements (1,700) (3,878) (956)
Net cash used in investing activities (1,700) (3,878) (956)
Cash Flows From Financing Activities      
Earn-outs paid related to acquisitions (75) (75) (4,568)
Repayments of notes payable (2,700) (3,600) (2,700)
Principal payments on financing leases (120) (117) (120)
Distributions to partners (6,720) (7,818) (7,912)
Dividends paid on Class A common stock (7,403) (6,996) (6,828)
Purchase of shares of Class A common stock of Silvercrest Asset Management Group Inc. (4,625) (5,705) (8,783)
Payments from partners on notes receivable 94 95 172
Net cash used in financing activities (21,549) (24,216) (30,739)
Effect of exchange rate changes on cash and cash equivalents (31) (12)  
Net (decrease) increase in cash and cash equivalents (1,690) (7,131) (8,312)
Cash and cash equivalents, beginning of year 70,301 77,432 85,744
Cash and cash equivalents, end of year 68,611 70,301 77,432
Net cash paid during the period for:      
Income taxes 1,743 1,605 5,195
Interest 62 332 345
Supplemental Disclosures of Non-cash Financing and Investing Activities      
Recognition of deferred tax assets as a result of share conversions (1,005) 328 648
Assets acquired under capital leases 46 109 211
Accrued dividends 30 24 21
Purchase of shares of Class A common stock excise tax accrual 46 57  
Non-controlling Interest      
Cash Flows From Operating Activities      
Net income 6,174 6,089 11,965
Silvercrest Asset Management Group Inc.'s Equity      
Cash Flows From Operating Activities      
Net income 9,535 9,094 18,828
Neosho Capital, LLC      
Cash Flows From Financing Activities      
Earn-outs paid related to acquisitions (100) (100)  
Neosho Capital, LLC | Non-controlling Interest      
Supplemental Disclosures of Non-cash Financing and Investing Activities      
Issuance of Class B units of Silvercrest L. P. in conjunction with the acquisition 25 $ 25 25
Cortina Asset Management, LLC | Non-controlling Interest      
Supplemental Disclosures of Non-cash Financing and Investing Activities      
Issuance of Class B units of Silvercrest L. P. in conjunction with the acquisition $ 0   $ 1,122