| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Operating activities | ||||||
Net income/(loss) | ||||||
42,782 | -57,383 | 8,684 | 10,469 | -891 | -1,157 | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
Equity in net (gains) losses from partnerships | ||||||
10,173 | 2,078 | 10,274 | 11,183 | 4,756 | 1,169 | |
Depreciation and amortization | ||||||
30 | 21 | 16 | 17 | 13 | 14 | |
Stock-based compensation expense | ||||||
0 | 72 | 5,879 | 2,464 | 4,931 | 1,921 | |
Deferred income taxes | ||||||
7,360 | -12,825 | -3,168 | -1,378 | -6,450 | -5,039 | |
Other-than-temporary loss on available for sale securities | ||||||
- | - | 19,201 | 324 | 216 | 69 | |
The fair value of donated securities during the period. | ||||||
2,152 | 0 | 2,627 | 1,051 | 73 | 56 | |
Gain (loss) on the value of stock converted in exchange during the period. | ||||||
0 | -8,706 | 0 | - | - | - | |
Unrealized (gains) losses on securities | ||||||
21,883 | -54,397 | 0 | - | - | - | |
Realized losses on sales of securities | ||||||
-56 | -37 | 167 | - | - | - | |
Net gains on sales of available for sale securities | ||||||
- | - | - | 348 | 25 | 2,978 | |
This item represents gross realized gains (losses) realized on the debt or equity securities related to subsidiary during the period. | ||||||
- | - | 11,788 | 0 | 0 | - | |
(Increase) decrease in assets: | ||||||
Investments in securities | ||||||
61,923 | -53,924 | 26,231 | 13,769 | 71,552 | 28,328 | |
Investments in Partnerships [Abstract] | ||||||
The increase (decrease) in the contributions to partnerships during the reporting period. | ||||||
28,071 | 8,577 | 26,278 | 36,367 | 15,169 | 20,998 | |
The increase (decrease) in the distributions from partnerships during the reporting period. | ||||||
11,603 | 31,948 | 21,151 | 23,199 | 22,857 | 10,510 | |
Receivable from affiliates | ||||||
3,060 | 443 | -657 | -5,934 | 7,055 | 0 | |
Receivable from brokers | ||||||
-479 | -13,430 | 22,292 | -43,225 | 30,008 | 25,557 | |
Investment advisory fees receivable | ||||||
5,188 | -1,345 | -4,045 | 4,907 | 949 | -1,106 | |
Goodwill and intangible assets | ||||||
0 | 97 | 0 | - | - | - | |
Other assets | ||||||
-3,611 | 757 | 2,417 | 5,465 | -17,568 | 15,977 | |
Increase (decrease) in liabilities: | ||||||
Payable to brokers | ||||||
9,378 | -7,770 | 10,885 | -48,231 | 44,516 | 33,396 | |
Income taxes payable and deferred tax liabilities, net | ||||||
156 | 1,496 | -1,203 | 1,060 | 2,191 | 362 | |
Payable to affiliates | ||||||
-32 | 73 | -1,013 | 1,455 | -4,733 | 1,386 | |
Compensation payable | ||||||
8,859 | -1,397 | -4,892 | 6,751 | 1,747 | -5,278 | |
The increase (decrease) during the reporting period in mandatorily redeemable noncontrolling interests. | ||||||
- | - | - | -292 | 172 | 53 | |
Accrued expenses and other liabilities | ||||||
-470 | 2,858 | -31,042 | 31,995 | 298 | -928 | |
Total adjustments | ||||||
-87,116 | 134,363 | -76,304 | -3,881 | -46,459 | -57,485 | |
Net cash provided by (used in) operating activities | ||||||
-44,334 | 76,980 | -67,620 | 6,588 | -47,350 | - | |
Investing activities | ||||||
Net cash (used in) provided by operating activities | ||||||
- | - | - | - | - | -58,642 | |
Purchases of securities | ||||||
4,989 | 12,350 | 4,900 | 5,107 | 43,271 | 1,428 | |
Proceeds from sales of securities | ||||||
4,928 | 1,958 | - | - | - | - | |
Return of capital on securities | ||||||
932 | 128 | - | - | - | - | |
Purchase of building | ||||||
6,518 | 0 | - | - | - | - | |
Cash received in acquisition of Morgan Group | ||||||
589 | 0 | - | - | - | - | |
Proceeds from note receivable | ||||||
0 | 15,000 | - | - | - | - | |
Proceeds from sales of securities | ||||||
- | - | 271 | 803 | 1,013 | 4,748 | |
The cash inflow from return of capital on available for sale securities. | ||||||
- | - | 895 | 189 | 524 | 519 | |
The net cash paid (received) associated with the acquisition or collection of notes receivable. | ||||||
- | - | 15,000 | - | - | - | |
Purchase of GBL 1.6% Note (due February 28, 2018) | ||||||
- | - | - | 0 | 0 | - | |
Net cash (used in) provided by investing activities | ||||||
-5,058 | 4,736 | -18,734 | -4,115 | -41,734 | - | |
Financing activities | ||||||
Net cash (used in) provided by investing activities | ||||||
- | - | - | - | - | 3,839 | |
Contributions from redeemable noncontrolling interests | ||||||
- | - | 41,598 | 250 | 1,036 | 72,093 | |
Redemptions of redeemable noncontrolling interests | ||||||
2,934 | 3,634 | 236 | 244 | 901 | 6,353 | |
Repayment of demand loan with GBL | ||||||
- | - | - | 0 | 16,000 | - | |
Repayment of demand loan with GBL | ||||||
- | - | - | - | - | 10,000 | |
The net cash outflow (or cash inflow) from funds transferred to affiliates during the period. | ||||||
- | - | - | 0 | -25,190 | -85,057 | |
Dividends paid | ||||||
4,513 | 4,666 | 4,768 | 2,504 | 0 | - | |
Purchase of treasury stock | ||||||
4,135 | 7,011 | 21,221 | 41,630 | 44 | 0 | |
Proceeds from payment of GAMCO Note | ||||||
0 | 50,000 | 50,000 | 150,000 | 0 | - | |
Proceeds from promissory note from Executive Chairman | ||||||
2,124 | 0 | - | - | - | - | |
Repayment of promissory note to Executive Chairman | ||||||
2,126 | 0 | - | - | - | - | |
Net cash used in financing activities | ||||||
-11,584 | 34,689 | 65,373 | 105,872 | 9,281 | - | |
Net increase (decrease) in cash and cash equivalents | ||||||
-60,976 | 116,405 | - | - | - | - | |
Increase (decrease) in cash from deconsolidation | ||||||
- | - | - | -2 | 13 | 0 | |
Net cash provided by (used in) financing activities | ||||||
- | - | - | - | - | 140,797 | |
Net increase/(decrease) in cash and cash equivalents | ||||||
- | - | -20,981 | 108,345 | -79,803 | 85,994 | |
Amount of increase (decrease) in cash from consolidation. | ||||||
0 | 47 | 0 | 0 | 10 | 0 | |
Supplemental disclosures of cash flow information: | ||||||
Cash paid for interest | ||||||
197 | 261 | 227 | 298 | 1,428 | - | |
Cash paid for taxes | ||||||
4,700 | -140 | 2,077 | - | - | - | |
Reconciliation to cash, cash equivalents and restricted cash | ||||||
Cash paid for interest | ||||||
- | - | - | - | - | 981 | |
Cash paid for taxes | ||||||
- | - | - | 2,989 | 2 | 2 | |