Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash Flows From Operating Activities    
Net income $ 21,869 $ 9,996
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Equity-based compensation 504 762
Depreciation and amortization 1,927 1,962
Deferred income taxes 2,595 74
Non-cash interest on notes receivable from partners (2) (3)
Interest on notes payable 1 28
Non-cash lease expense 2,165 1,880
Distributions received from investment funds 398 861
Cash flows due to changes in operating assets and liabilities:    
Receivables and Due from Silvercrest Funds (1,739) (1,714)
Prepaid expenses and other assets (1,213) (900)
Accounts payable and accrued expenses (9,815) 4,380
Accrued compensation (20,925) (13,319)
Operating lease liabilities (2,327) (2,056)
Deferred and other liabilities 1 0
Net cash (used in) provided by operating activities (6,561) 1,951
Cash Flows From Investing Activities    
Acquisition of furniture, equipment and leasehold improvements (290) (396)
Net cash used in investing activities (290) (396)
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions (75) (349)
Repayments of notes payable (1,800) (1,800)
Principal payments on financing leases (60) (60)
Distributions to partners (6,209) (5,350)
Dividends paid on Class A common stock (3,363) (3,091)
Payments from partners on notes receivable 172 228
Net cash used in financing activities (11,335) (10,422)
Net decrease in cash and cash equivalents (18,186) (8,867)
Cash and cash equivalents, beginning of period 85,744 62,498
Cash and cash equivalents, end of period 67,558 53,631
Net cash paid during the period for:    
Income taxes 3,085 2,672
Interest 144 156
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Recognition of deferred tax assets as a result of share conversions 155 48
Notes receivable from new partners issued for capital contributions to Silvercrest L.P.   475
Assets acquired under finance lease 29 137
Accrued dividends 8  
Neosho Capital, LLC    
Cash Flows From Financing Activities    
Earn-outs paid related to acquisitions (100)  
Supplemental Disclosures of Non-cash Financing and Investing Activities    
Issuance of Class B shares of Silvercrest L. P. in conjunction with the acquisition $ 25 $ 25