Focus financial partners inc. (FOCS)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)

34,019

-12,691

392

3,102

-2,828

17,547

-38,924

-7,656

-12,054

Adjustments to reconcile net income (loss) to net cash provided by operating activities-net of effect of acquisitions:
Intangible amortization

35,723

35,858

34,898

31,221

28,741

24,981

23,616

22,290

19,494

Depreciation and other amortization

2,982

3,140

2,797

2,425

2,313

2,249

2,077

2,162

1,882

Amortization of debt financing costs

782

969

919

782

782

782

828

929

959

Non-cash equity compensation expense

5,034

4,954

4,276

5,178

3,921

12,856

24,057

3,701

3,854

Non-cash changes in fair value of estimated contingent consideration

31,373

-13,101

-14,435

-3,847

-7,414

22,241

-10,564

-11,944

-6,371

Income from equity method investments

64

59

53

329

314

313

55

79

74

Distributions received from equity method investments

25

83

50

355

263

379

126

269

344

Deferred taxes and other non-cash items

-4,104

-

-

-

575

-

-

-

-

Other non-cash items

-

-

-

-

-

-

-990

-165

368

Loss on extinguishment of borrowings

-6,094

-

-

-

-

0

-4,990

0

-14,011

Changes in cash resulting from changes in operating assets and liabilities:
Accounts receivable

9,047

-805

12,148

-2,471

20,690

-6,425

8,705

10,450

11,017

Prepaid expenses and other assets

1,705

-8,616

8,040

-9,008

5,788

4,366

-8,756

6,624

8,167

Accounts payable

1,281

-2,412

851

-4,273

4,662

1,122

-2,105

1,914

1,410

Accrued expenses

-1,612

-31,692

14,802

21,425

3,741

-17,080

9,024

6,975

5,383

Due to affiliates

-41,785

18,624

16,883

-18,241

1,723

-797

15,051

2,366

-9,914

Other liabilities

-2,815

11,477

2,884

-17,311

-7,537

-4,007

-3,715

-1,320

-1,280

Deferred revenue

1,739

-1,106

2,482

-1,773

85

-3,704

2,491

-2,159

1,891

Net cash provided by operating activities

3,382

64,854

74,702

39,305

15,913

19,701

49,066

24,427

12,725

CASH FLOWS FROM INVESTING ACTIVITIES:
Cash paid for acquisitions and contingent consideration-net of cash acquired

52,188

38,177

205,235

85,707

203,394

116,223

81,489

189,801

25,531

Purchase of fixed assets

3,188

4,714

10,698

8,185

1,875

2,780

1,897

2,117

2,312

Other

-

-

-

-

-

-

-

-

3,400

Net cash used in investing activities

-55,376

-41,361

-215,933

-93,892

-205,269

-119,003

-83,386

-212,818

-31,243

CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under credit facilities

285,000

30,000

569,125

75,000

295,000

-

-

-

-

Repayments of borrowings under credit facilities

37,892

32,890

402,892

47,007

47,007

12,007

444,542

2,490

1,987

Contingent consideration paid

21,428

1,526

4,221

8,644

7,649

2,268

5,472

2,634

2,180

Payments of debt financing costs

634

-

-

-

-

0

2,631

1,347

634

Proceeds from exercise of stock options

77

42

0

582

214

-

-

-

-

Payments on finance lease obligations

34

-

-

-

57

-

-

-

-

Payments on finance lease obligations

-

-

-

-

-

51

31

57

59

Distributions for unitholders

4,567

5,416

3,491

11,138

596

1,436

802

368

138

Net cash provided by financing activities

220,522

-9,828

154,734

8,756

239,905

34,238

100,143

193,104

-4,998

EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS

-667

250

-184

-4

17

-101

-17

-90

10

CHANGE IN CASH AND CASH EQUIVALENTS

167,861

13,915

13,319

-45,835

50,566

-65,165

65,806

4,623

-23,506