Greenhill & co inc (GHL)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10
Operating activities:
Net income (loss)

-7,573

24,132

14,929

-12,697

-15,386

11,124

11,217

10,513

6,368

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Consolidated net income (loss)

-

-

-

-

-

-

-

-

-

-

-

-

-746

23,667

13,110

19,628

4,357

7,892

684

9,419

7,603

15,223

19,873

8,054

238

15,780

1,798

15,486

13,618

15,127

8,589

2,240

16,136

16,112

8,564

21,489

-1,581

2,467

15,214

18,887

2,851

Adjustments to reconcile net income (loss) to net cash used for operating activities:
Non-cash items included in net income (loss):
Depreciation and amortization

1,039

1,070

1,081

1,092

1,244

1,277

1,266

1,293

1,339

791

777

760

786

811

793

791

848

897

894

921

721

781

804

830

813

849

860

1,025

1,727

1,777

1,775

1,717

1,971

2,049

2,093

2,010

1,857

1,862

1,708

1,663

752

Net investment gains

-332

-1

39

-39

114

73

-134

-150

1

7

-240

-2

-23

-149

-71

-37

2

210

146

118

-240

167

-35

-1,300

-5,231

194

-2,829

3,298

-2,081

-8,501

-8,034

1,778

6,356

5,236

-23,446

4,731

-475

2,559

-15,959

17,583

7,540

Restricted stock units recognized, net

10,307

12,071

12,637

11,656

10,018

11,403

11,295

6,780

8,463

8,857

11,477

9,012

11,251

14,127

11,536

12,028

8,189

12,104

10,300

13,235

11,432

9,638

15,192

10,164

4,996

13,184

14,320

13,525

15,071

12,170

14,274

13,515

14,219

-

-

12,612

14,861

12,423

15,263

14,078

12,034

Deferred taxes, net

7,520

-547

-1,621

-2,016

3,369

-594

-40

-460

6,529

17,410

-6,711

-3,546

7,441

-4,389

-2,186

-4,404

3,522

-2,707

-2,313

-4,443

3,405

1,859

-3,268

-3,207

8,249

-4,901

-4,873

21

2,043

-4,549

-12,433

-7,910

6,660

332

-8,777

-2,011

4,918

-

-

-

-

Deferred gain on sale of certain merchant banking assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

49

48

49

48

50

48

49

66

65

64

65

221

202

203

203

275

274

249

300

Loss on fair value of contingent obligation

0

0

0

0

575

509

431

2,681

910

4,307

1,874

-1,508

-6,005

26

-35

1,072

385

403

100

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Allowance for doubtful accounts

797

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Changes in operating assets and liabilities:
Fees receivable

-20,728

39,238

-3,535

-2,121

-16,412

-24,974

-12,132

-3,681

38,336

9,902

4,222

-17,437

-583

-8,490

9,696

4,818

-2,314

-7,009

2,554

-3,899

-8,987

-6,553

13,718

17,312

-27,942

20,591

7,630

1,102

1,469

-4,379

11,516

-8,789

2,822

16,902

2,767

953

2,466

-18,340

22,093

2,029

-3,763

Due (from) affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

613

Other receivables and assets

15,611

-8,282

-10,501

3,150

15,776

-4,593

-1,360

-9,034

15,823

-1,396

367

-2,484

3,064

-3,693

2,849

-4,080

3,415

3,599

-3,142

1,067

255

2,663

-3,730

-4,615

9,781

-2,245

1,821

1,263

494

-488

-1,065

2,261

-22

-1,468

-4,092

-2,608

6,745

-5,694

-2,287

-13,998

13,576

Deferred tax asset, net

-

-

-

-

-

-

-

-

-

-

-

-

-

11

-334

-93

-7,252

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-2,080

-8,027

Compensation payable

-8,139

4,329

-5,163

6,539

-36,644

15,236

896

12,331

1,850

7,919

-4,597

7,472

-22,299

16,734

2,272

3,602

-7,214

10,287

-4,907

9,293

-18,944

10,277

6,092

4,877

-8,692

9,251

-10,737

4,542

-10,612

15,986

-1,202

-3,495

-22,401

12,213

-625

10,750

-17,465

14,171

2,953

4,845

-30,674

Accounts payable and accrued expenses

-304

-2,339

829

4,317

-1,117

-6,360

1,106

-7,117

2,825

5,218

1,117

-612

-314

-1,630

-1,036

2,748

-788

999

-4,036

-11,211

8,501

-4,976

-346

2,180

-1,516

3,836

1,578

34

1,714

-1,219

2,813

765

4,029

-10,831

2,573

10,192

-2,328

-4,308

12,050

-9,453

-2,268

Current income taxes payable

2,177

7,992

-15

-1,485

-4,324

-1,400

1,035

-3,686

6,226

-175

-150

2,862

-16,194

3,168

2,063

8,763

-14,046

8,080

-1,933

7,151

-4,286

-976

4,178

-3,490

-5,050

3,424

3,321

250

-7,447

5,926

2,313

4,822

-5,146

-

-

-

-

-

-

-

-

Settlement of restricted stock units in cash

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-2,093

-

-

-

-

Net cash provided by (used for) operating activities

11,273

16,950

36,674

2,451

-41,743

60,689

40,832

34,423

-19,650

9,576

-6,474

40,608

-28,538

64,835

14,377

43,620

1,402

41,145

-324

34,526

17,404

40,422

32,523

7,963

22,381

22,835

-405

29,172

16,183

58,517

13,647

16,340

6,247

21,984

34,876

51,623

-10,770

26,624

42,887

26,190

-27,545

Investing activities:
Purchases of investments

2,050

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

12

9

-

0

28

0

-

-

-

-

0

0

628

5,908

-

-

-

-

4,679

0

567

10,968

Proceeds from sales of investments

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-9,648

-14,831

-6,128

-5,623

-32,920

-8,244

-9,261

-7,409

-

-

-

-

-

-

-

-

Distributions from investments, net

-

-

-

-

-

-

-

-

-

-1

162

35

25

937

0

0

0

64

0

501

267

45

215

116

254

279

82

736

186

0

2,260

565

215

-

-

-

-

13,476

1,239

5,843

54

Purchases of property and equipment

696

446

459

429

314

386

115

951

672

881

487

739

448

405

319

717

296

288

1,273

586

95

632

496

862

449

514

-165

530

272

727

728

491

887

402

199

2,312

28

4,290

2,615

935

285

Net cash used in investing activities

-2,746

-446

-220

-429

-314

-386

32

408

-672

-882

-325

-704

-423

532

-319

-717

-296

12,936

-1,273

-45,357

163

-559

-281

-774

-195

9,353

15,078

5,834

5,537

16,686

9,776

8,707

829

-3,476

4,017

46,191

-28

4,714

-4,405

4,132

-11,199

Financing activities:
Proceeds from revolving bank loan

-

-

-

-

-

-

-

-

-

0

26,925

20,750

21,680

22,770

25,900

30,829

26,500

14,980

18,570

27,350

19,100

16,825

21,500

15,250

18,601

19,250

19,225

39,325

31,350

52,275

32,650

11,935

18,010

19,720

34,330

26,200

14,370

31,300

26,600

19,720

38,555

Repayment of revolving bank loan

-

-

-

-

-

-

-

-

-

83,775

11,800

26,100

11,750

21,200

18,300

31,029

11,200

20,100

12,400

23,300

20,000

20,425

19,750

14,050

13,200

24,751

15,125

33,525

34,025

58,575

25,050

11,150

19,070

16,920

33,700

74,800

8,100

-

-

-

-

Repayment of bank term loans

-

-

-

-

-

-

-

-

-

-

-

-

-

0

5,625

11,250

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repayment of secured term loan

15,625

0

9,375

0

8,750

8,750

4,375

4,375

4,375

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Contributions from noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12

0

16

134

Distributions to noncontrolling interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

150

161

0

0

0

0

77

0

0

958

2,664

388

712

413

Dividends paid

970

-265

1,606

1,420

1,656

1,163

878

1,430

1,687

1,362

15,396

15,341

15,453

15,177

15,430

15,568

15,434

14,645

14,902

14,913

14,480

14,092

13,616

14,231

14,344

14,050

14,054

14,039

14,082

14,908

13,222

14,451

14,548

15,057

13,982

14,268

14,373

14,644

14,502

13,707

14,025

Purchase of treasury stock

22,056

23,177

16,482

5,379

24,401

17,513

58,385

84,648

34,753

66,521

307

217

12,516

7,510

7,923

5,065

7,688

30

1,068

243

10,561

6,593

11,352

1,409

16,825

610

9,165

25,145

20,486

42,668

20,913

10,206

9,378

10,168

18,594

19,370

17,652

356

11,704

5,086

20,064

Net tax cost from the delivery of restricted stock units and payment of dividend equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-

-525

-318

-950

6,676

-424

-102

-378

6,848

276

-96

167

2,541

-277

-413

479

203

1,064

-926

98

-3,602

2,857

-203

-87

688

-2,786

780

497

7,040

Net cash used in financing activities

-38,651

-22,912

-27,463

28,305

-34,807

-27,426

-63,638

-90,453

-40,815

207,390

-11,828

-26,533

-18,039

-20,592

-21,060

-31,133

-14,498

-19,371

-9,698

23,022

-32,789

-24,561

-23,122

-14,607

-28,309

-19,884

-18,706

-34,013

-37,607

-62,812

-27,461

-23,774

-28,588

-19,645

-32,149

-82,325

-26,025

-15,963

-18,714

-39,271

11,227

Effect of exchange rate changes

-

-

-

-

-

-

-

-

1,631

687

1,480

2,658

680

-2,281

-964

-3,585

-970

-34

-696

640

-1,272

-1,232

-1,410

54

-32

31

844

-1,412

-485

-174

535

-1,695

1,494

1,075

-4,011

1,066

1,420

6,085

-586

1,236

-1,658

Effect of exchange rate changes

-4,184

-

-1,237

-1,059

942

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-34,308

-3,499

7,754

29,268

-75,922

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-

-

-

-

-

-

-

-

-59,506

-

-17,147

16,029

-46,320

42,494

-7,966

8,185

-14,362

34,676

-11,991

12,831

-16,494

14,070

7,710

-7,364

-6,155

12,335

-3,189

-419

-16,372

12,217

-3,503

-422

-20,018

-62

2,733

16,555

-35,403

21,460

19,180

-7,712

-29,175

Supplemental disclosure of cash flow information:
Cash paid for interest

4,608

4,760

10,900

473

5,378

4,465

5,171

5,625

5,684

4,098

642

755

1,072

666

749

785

744

729

655

760

283

176

372

309

259

228

334

257

170

351

221

249

293

196

336

518

689

605

636

812

383

Cash paid for taxes, net of refunds

823

1,067

-276

3,657

1,753

6,429

872

956

2,042

7,488

2,313

1,570

14,655

9,165

5,450

219

14,145

306

3,997

4,540

5,602

10,584

5,617

4,262

5,616

5,481

2,908

10,335

13,797

11,416

12,760

5,835

6,147

13,841

3,082

1,991

1,926

9,123

-661

-2,476

6,209