AFFILIATED MANAGERS GROUP, INC. AMG Cash Flow

Affiliated managers group, inc. (AMG)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Cash flow from (used in) operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
40,000	95,800	162,100	180,200	-133,000	-98,800	201,800	205,300	224,000	393,800	216,900	204,400	193,600	206,000	176,000	183,500	173,500	228,000	188,600	189,900	220,700	240,000	190,000	178,000	159,400	249,300	156,400	134,200	129,700	139,400	118,100	60,900	93,000	89,100	80,100	101,000	89,400	107,300	69,000	58,200	52,800	67,860	56,249
Adjustments to reconcile Net income (loss) to cash flow from (used in) operating activities:
Intangible amortization and impairments
20,600	72,500	21,100	21,300	29,600	38,300	30,100	23,200	23,200	21,300	21,200	22,000	21,900	28,000	26,900	28,700	26,600	29,000	30,500	28,100	27,800	38,000	28,700	28,100	27,400	30,000	32,700	32,600	32,900	30,900	24,000	114,700	30,400	31,400	22,100	22,100	22,100	21,000	20,500	9,600	8,900	8,293	8,044
Depreciation and other amortization
5,100	4,600	6,100	5,400	5,200	5,500	5,300	5,700	5,500	5,400	4,800	4,900	5,200	4,500	5,000	5,000	5,000	5,300	4,500	4,600	4,400	4,600	4,400	4,100	3,800	3,800	3,400	3,300	3,500	3,600	3,500	3,600	3,400	3,400	4,000	3,800	3,800	4,000	3,700	3,400	3,000	3,167	3,243
Deferred income tax benefit
-19,200	21,200	3,500	5,500	-86,000	20,800	12,400	5,300	13,400	-203,900	24,300	20,700	35,300	-10,500	19,400	22,900	27,500	20,500	21,000	25,600	34,100	32,700	18,000	15,200	15,100	3,700	-4,800	16,100	12,700	5,400	7,800	-15,500	13,400	3,400	14,800	7,400	9,600	11,200	6,600	9,000	8,600	3,873	4,866
Imputed interest expense and contingent payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,000	-	-400	13,200	27,200	-57,700	2,800	2,300	22,500	5,200	3,900	8,400	14,200	9,700	6,700	-40,000	-2,500	2,400	8,300	8,300	8,300	7,500	7,200	6,400	3,800	3,389	3,365
Income (Loss) from Equity Method Investments
-113,200	-19,500	10,300	29,300	-358,100	-191,500	59,700	35,300	96,300	70,600	70,700	75,000	85,900	128,100	67,500	65,200	68,000	117,700	58,000	60,100	53,100	132,400	48,400	54,700	46,200	186,900	34,100	36,200	50,600	82,400	19,400	13,400	14,500	32,600	9,800	20,100	10,200	49,000	9,500	9,900	9,100	8,203	7,351
Distributions of earnings received from equity method investments
124,400	42,000	54,500	59,400	96,500	56,000	82,500	102,100	225,700	61,800	84,500	93,600	189,900	59,400	81,900	80,800	124,300	52,700	70,700	68,900	153,800	51,500	60,900	46,300	208,200	39,300	40,900	52,500	93,900	25,300	20,800	21,800	36,800	17,800	27,000	18,600	64,900	14,300	14,700	13,600	23,200	13,725	9,879
Amortization of issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,200	1,200	1,200	-	2,900	2,000	2,000	-	-	-	-	-	2,100	3,200	-	-	2,000	1,800	1,800	-	1,800	1,800	2,600	2,000	2,000	1,800	1,800	1,843	1,841
Tax benefit from exercise of stock options
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	-	-	-	300	400	-	0	0	800	1,000	1,400	1,800	300	1,715	1,459
Share-based compensation and Affiliate equity expense
24,800	27,500	20,900	22,500	19,500	23,900	27,700	19,400	30,100	21,800	20,400	22,200	26,000	14,800	32,400	18,000	15,200	18,000	17,600	49,800	17,300	31,500	21,100	47,000	14,100	52,200	9,000	8,800	14,100	45,200	8,000	7,900	8,200	33,100	7,300	5,900	6,100	9,100	3,600	3,200	3,600	2,560	1,958
Affiliate equity expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,500	3,200	-	-	2,300	4,900	2,200	-	1,900	3,700	3,500	4,200	3,500	3,400	3,400	3,150	3,469
Other non-cash items
-9,000	6,200	2,700	4,400	4,400	-13,200	10,200	6,900	-1,200	-1,100	7,800	13,900	5,700	1,800	9,300	4,900	100	31,700	-300	7,300	-700	-4,700	2,700	7,000	-8,800	-400	1,600	-7,600	-4,000	-22,300	-2,600	-5,400	6,000	-11,000	-9,000	-12,900	2,400	-	500	-13,500	-	-	-
Changes in assets and liabilities:
Purchases of securities by consolidated Affiliate sponsored investment products
26,000	42,300	0	0	0	120,400	47,200	13,300	9,900	10,000	7,700	7,300	9,100	23,700	20,700	24,700	17,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of securities by consolidated Affiliate sponsored investment products
25,200	11,000	2,300	1,700	1,500	20,000	5,500	11,600	12,500	6,700	8,200	7,900	7,100	23,700	19,100	23,400	16,600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Increase) decrease in other assets
-10,800	-	-	-	700	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	400	-200	-	2,200	1,600	400	500	-3,200	-600	700	1,600	-8,500	1,700	-3,000	11,100	46	-1,085
Other adjustments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,000	-14,545	-21,189
Increase in receivables
32,700	-75,700	-35,000	-4,800	131,300	-96,000	21,000	-31,800	92,400	-78,200	55,900	700	75,100	8,100	-87,700	-44,200	94,200	-79,500	-29,300	-18,100	72,400	-121,600	41,500	-12,900	66,500	-150,000	0	17,900	233,900	20,300	-2,400	11,200	12,500	-4,300	-37,100	21,800	-3,000	37,200	-13,300	24,400	900	17,051	11,447
(Increase) decrease in Affiliate investments in partnerships
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	648
Increase in unsettled fund shares receivable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,300	-171,800	-	-	5,600	-35,500	45,200	-	-32,000	-12,000	60,700	-14,600	-1,700	-96,500	98,700	-	-
Increase in other assets
-	-	-	-	-	-	4,200	2,000	4,000	-	-400	3,300	700	-	-1,900	3,600	2,200	-	-5,600	-400	5,600	-	3,300	5,400	-1,900	-	3,400	-800	8,300	-	3,800	0	9,100	-	6,200	600	2,500	2,300	20,300	-8,200	-11,000	811	9,470
Increase in unsettled fund shares payable
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	48,200	-172,400	-	-	4,400	-35,300	41,600	-	-24,500	-22,900	54,500	-14,100	1,300	-106,100	108,400	-	-
Decrease in payables, accrued liabilities and other liabilities
-209,600	38,600	18,100	60,100	-172,900	19,900	75,900	25,400	-128,000	68,400	117,900	46,400	-180,400	207,400	-10,900	4,500	-180,700	34,500	72,300	44,600	-183,400	10,200	168,800	61,400	-50,800	-135,000	76,300	46,300	190,000	7,500	38,900	42,400	-88,400	-10,700	36,700	48,000	-62,900	27,600	51,900	23,900	-37,000	11,243	26,861
Cash flow from (used in) operating activities
85,600	312,500	307,400	327,100	-17,900	264,400	298,900	372,300	205,000	369,900	356,500	321,900	122,100	365,800	343,100	315,800	25,600	357,000	385,700	351,400	119,100	406,500	404,500	328,200	297,700	209,400	282,800	262,700	202,200	186,200	211,100	183,400	52,500	158,600	242,200	179,400	128,300	129,200	168,400	115,100	68,000	80,162	72,214
Investments in Affiliates
700	0	102,500	25,700	34,100	0	0	7,300	0	300	0	25,600	4,700	476,400	333,500	100	551,300	247,700	18,000	32,000	0	710,600	400	425,100	108,900	0	26,300	0	0	-	350,000	405,300	-	0	0	0	13,300	112,000	11,000	665,400	127,700	137,860	1,411
Divestments of Affiliates
0	88,900	0	0	28,800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of fixed assets
2,600	3,200	100	3,300	3,000	5,200	3,200	4,800	5,500	4,600	6,700	3,100	4,100	5,100	6,500	4,500	4,100	12,700	13,800	7,000	4,700	5,500	3,200	6,400	4,100	8,000	7,100	4,300	4,600	10,100	4,900	3,700	1,300	7,800	3,900	2,700	1,700	3,500	2,200	2,000	1,100	438	663
Purchase of investment securities
11,900	10,000	2,400	22,000	8,700	14,000	8,400	13,400	5,000	15,000	8,600	7,400	6,200	5,800	2,200	5,300	2,700	4,100	4,600	3,400	1,400	4,400	8,500	5,800	2,500	5,100	1,700	2,000	2,600	5,300	2,700	1,600	9,500	800	39,400	2,400	6,600	20,800	12,800	15,500	14,900	-	2,911
Sale of investment securities
31,100	-39,800	-8,100	-41,900	16,900	-21,900	-16,200	-3,900	-6,600	-28,800	-19,200	-20,800	-31,300	-106,800	13,500	20,800	7,200	2,400	4,300	16,400	1,800	3,400	6,600	6,100	1,200	6,700	1,000	3,500	200	3,100	3,600	14,600	12,900	100	500	0	10,300	3,300	0	0	11,800	1,584	-
Cash flow from (used) in investing activities
15,900	115,500	-96,900	-42,900	-100	2,700	4,600	-21,600	-3,900	8,900	3,900	-15,300	16,300	-463,500	-328,700	10,900	-550,900	-262,100	-32,100	-26,000	-4,300	-717,100	-5,500	-431,200	-114,300	-6,400	-34,100	-2,800	-7,000	-54,400	-354,000	-396,000	2,100	-8,500	-42,800	-5,100	-11,300	-133,000	-26,000	-682,900	-131,900	-136,714	-4,985
Cash flow from (used in) financing activities:
Borrowings of debt
250,000	0	50,000	84,400	336,300	560,000	25,000	125,000	440,000	100,000	240,000	130,000	75,000	450,000	315,000	70,000	515,000	320,000	410,000	0	523,300	730,000	30,000	290,000	696,500	165,000	475,000	100,000	20,000	-	360,000	195,000	-	-	-	110,000	-	169,000	5,000	782,500	235,000	-	-
Repayments of debt
0	0	50,000	75,000	385,000	579,100	61,500	105,000	435,000	160,000	360,000	125,000	160,000	455,000	340,000	235,000	95,000	225,000	475,000	60,000	496,000	125,000	80,000	390,000	425,600	856,300	0	150,000	195,000	-	360,000	0	-	210,000	85,000	155,000	120,000	80,000	293,500	293,000	65,000	-	-
Repurchases of common stock (net)
80,200	132,700	81,600	70,800	71,000	78,100	98,200	149,700	170,100	74,900	106,200	90,200	80,000	0	0	16,500	16,900	34,100	64,800	117,000	197,800	139,100	51,700	0	0	-	15,700	0	-	0	0	28,200	32,700	-	48,000	-	-	-	-	-	-	-	-
Issuance of senior notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	200,000	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of senior convertible securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	572,300	69,000	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Issuance of Common Stock
-	-	-	-	-	-	-	-	-	-	4,200	9,200	20,300	302,600	155,500	3,200	4,500	3,800	800	9,600	43,600	3,500	13,900	17,200	6,800	500	11,700	6,800	29,200	27,700	23,300	7,300	15,100	6,800	300	5,700	15,200	10,300	10,600	23,000	2,500	18,139	11,622
Dividends paid on common stock
15,300	15,700	16,200	16,400	17,000	15,800	16,000	16,200	16,400	11,100	11,200	11,300	11,300	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of treasury lock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-4,000	-	-	-	-	-	-
Note and contingent payments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,200	-	7,000	3,500	5,900	2,300	1,700	5,300	5,100	-4,400	-100	1,300	-37,800	-1,400	-1,800	-200	-200	8,100	-8,400	-72,500	300	3,000	-5,900	-500	-25,400	7,196	-2,932
Distributions to non-controlling interests
99,600	71,300	83,900	88,100	104,600	76,900	88,300	92,900	112,400	85,400	88,200	86,600	92,000	84,000	81,100	87,400	101,600	94,500	106,900	115,400	114,600	101,100	122,800	126,500	219,000	48,500	39,200	54,000	125,400	43,800	18,000	37,600	82,000	52,000	34,600	12,400	68,600	23,700	16,700	23,100	37,200	14,962	25,506
Affiliate equity repurchases and issuances (net)
-84,400	-60,700	-32,900	-35,900	-6,000	-15,700	-47,100	-42,600	-8,300	-53,200	-35,400	-59,500	-17,600	-33,700	1,400	-17,600	-54,100	-34,900	-60,600	-12,000	-13,100	-20,900	-11,400	-33,600	200	-111,200	-11,700	-11,000	15,800	-82,700	-2,200	-6,100	-16,900	-6,800	-6,800	8,000	-7,800	-19,700	-6,600	-6,900	-102,600	-7,502	-16,421
Issuance costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	200	7,200	-	-	6,000	0	-	-	800	0	7,700	600	100	100	100	288	-
Excess tax benefit from share-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,400	800	7,800	34,500	2,900	14,000	11,500	33,100	-	7,000	2,700	-	10,300	6,900	1,300	3,500	-	0	0	4,900	3,400	1,900	4,400	400	2,750	1,086
Settlement of forward equity sale agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	194,700	100,000	-	-	-
Other financing items
-8,200	-39,100	50,800	-24,900	3,600	-68,600	40,200	-1,300	-10,900	-2,600	2,500	-6,400	-11,800	-24,700	200	11,300	5,700	16,800	-5,200	0	-3,300	-44,700	-200	-2,000	-3,000	0	-10,400	-4,500	7,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Subscriptions (redemptions) of non-controlling interests in partnerships
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-508
Cash flow used in financing activities
-37,700	-300,500	-163,800	-226,700	-243,700	-141,400	-245,900	-282,700	-313,100	-318,200	-354,300	-239,800	-277,400	164,300	51,000	-274,200	259,800	-62,800	-293,900	-283,500	-217,500	307,900	-206,500	-273,100	94,100	-257,500	-145,500	-180,400	-285,700	-74,300	202,200	131,500	-113,200	-24,600	-183,300	-116,200	-179,700	61,700	-110,600	586,300	7,600	5,333	-31,643
Effect of foreign currency exchange rate changes on cash and cash equivalents
-11,200	11,600	-4,200	-2,700	4,000	-5,100	-2,300	-9,400	6,700	4,200	4,000	4,200	1,800	-30,200	-4,000	-11,400	-4,300	-10,000	-6,500	8,400	-9,700	-6,900	-6,500	3,200	0	1,700	5,400	-700	-4,900	300	2,300	-1,600	2,800	700	-4,000	300	2,200	0	3,100	-1,800	600	2,100	1,492
Net increase (decrease) in cash and cash equivalents
52,600	139,100	42,500	54,800	-257,700	120,600	55,300	58,600	-105,300	64,800	10,100	71,000	-137,200	36,400	61,400	41,100	-269,800	22,100	53,200	50,300	-112,400	-9,600	186,000	-372,900	277,500	-52,800	108,600	78,800	-95,400	57,800	61,600	-82,700	-55,800	126,200	12,100	58,400	-60,500	57,900	34,900	16,700	-55,700	-49,119	37,078
Effect of deconsolidation of Affiliates and Affiliate sponsored investment products
0	2,000	0	0	2,600	3,200	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash financing activities:
Notes received for Affiliate equity sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	2,000	1,000	-	0	2,100	9,500	-	5,700	1,900	5,700	357	593
Payables recorded for Affiliate equity repurchases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21,500	12,200	-	-3,900	900	2,400	11,200	14,300	4,900	5,900	7,000	11,600	19,200	0	15,300	26,021	671
Stock received in settlement of liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	700	44,000	100	0	0	400	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Settlement of 2006 junior convertible securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	217,800	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock issued upon vesting of restricted stock units
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	300	1,700	61,600	200	0	0	1,100	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payables recorded under contingent payment arrangements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-55,200	55,200	-	0	0	12,000	-	0	24,800	-	-	1,400	-	-	13,300	0	15,300	49,000	34,600	-
Payables recorded for forward equity sale settlements
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,500	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Stock issued for conversion of zero coupon senior convertible note
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	47,800	-	-	-
Stock issued for investments in Affiliates
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	146,900	-	-	-
Stock issued for settlement of forward equity sale agreement
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	44,500	-	-	-