Ladenburg thalmann financial services inc. (LTS)
CashFlow / Quarterly
Dec'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'11
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

508

11,277

7,508

3,432

9,562

9,450

9,310

5,464

6,634

3,402

1,325

-3,679

621

-7,515

-17,801

2,384

-2,227

-2,937

-2,477

-3,572

13,382

12,783

2,923

4,264

2,512

2,379

-5,536

123

-2,355

-6,037

-4,983

-2,979

6,354

-3,070

200

409

Adjustments to reconcile net income to
Change in fair value of contingent consideration

-954

487

-85

-112

-403

276

-50

-61

-67

-3

-63

152

-38

-72

-49

-57

24

0

0

31

0

0

0

12

0

0

-144

23

0

909

647

5,555

-

-

-

-

Adjustment to deferred rent

-

0

0

0

14

-198

-201

-420

-68

-84

-57

-178

-284

1

93

-23

22

45

-162

58

71

104

93

89

319

-585

185

187

-42

85

155

158

158

156

131

150

Amortization of right-of-use assets

1,886

1,869

1,855

1,993

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Amortization of intangible assets

2,898

2,932

3,619

3,622

4,026

3,882

3,835

3,835

5,185

5,255

5,401

5,486

5,202

5,175

5,181

5,145

5,205

5,205

5,131

5,109

4,696

3,720

2,819

2,821

2,834

2,895

2,929

2,936

2,909

2,925

2,924

2,925

2,160

634

633

633

Depreciation and other amortization

2,339

2,377

2,224

2,283

2,597

1,963

1,927

1,974

1,820

1,849

1,893

1,946

2,002

1,840

2,059

1,730

1,792

1,593

1,561

1,481

1,174

1,181

969

1,017

883

881

941

971

1,040

1,054

1,146

1,138

822

228

262

260

Loss on extinguishment of debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-252

-234

0

0

-314

-347

-446

-3,754

0

-

-

-

-

-

-

-

-

Amortization of debt discount

163

-42

370

163

4

202

114

112

112

112

112

113

129

164

163

164

163

164

163

176

130

114

115

142

151

170

400

498

497

498

498

500

0

4

14

21

Amortization of debt issue cost

1,518

-446

0

-190

992

-186

-116

-99

41

0

0

0

505

-64

-94

-94

658

-94

-94

-94

689

-98

-98

-100

769

-101

-114

-119

-120

-119

-119

-120

-832

330

-210

70

Amortization of retention and forgivable loans

158

139

109

143

137

97

107

76

2,326

1,808

1,671

1,591

1,091

1,403

1,544

1,434

1,407

2,223

2,910

2,698

2,897

2,471

3,885

1,788

6,205

1,690

1,841

1,808

6,369

1,712

1,791

1,792

-

-

-

-

Capitalized Contract Cost, Amortization

3,120

2,988

2,874

2,777

2,612

2,488

2,361

2,210

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Benefit attributable to reduction of goodwill

-

-

-

-

-

-

-

-

-

-

-

-

59

-20

-19

-20

-21

-19

-19

-19

-10

-19

-19

-20

-19

-20

-19

-19

-19

-19

-20

-13

-73

-3

-4

-4

Non-cash interest expense on forgivable loan

-

-

-

0

-

-

-

40

-242

76

74

116

-265

103

103

102

-443

155

58

251

-664

343

209

210

-665

337

-7

467

286

327

324

321

-

-

-

111

Deferred income taxes

-1,676

-73

255

-305

2,074

6,101

26

-71

-7,501

1,179

-395

-945

3,367

-731

15,617

-9,157

2,859

-1,137

82

-2,204

-12,140

-13,913

278

254

259

237

196

262

230

275

-116

488

-17,226

227

202

207

Share-based Payment Arrangement, Noncash Expense

1,632

1,536

1,444

1,494

1,440

1,380

1,568

1,494

1,391

1,341

1,378

1,429

1,315

1,300

1,341

1,355

2,833

242

2,424

3,260

2,852

3,679

2,083

1,927

2,327

1,647

1,379

1,413

1,099

1,054

1,227

1,364

1,242

688

1,127

957

Loss on write-off of receivable from subtenant

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

855

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Loss on write-off of furniture, fixtures and leasehold improvements, net

-18

-2

0

-2

-8

0

-18

0

-20

1

-1

-1

0

0

-1

0

0

-1

0

-8

-3

0

-3

-3

-375

121

-30

-146

-2

-3

0

-2

-

-

-

-

(Increase) decrease in operating assets:
Securities owned, at fair value

-152

-219

-3,147

-2,956

5,472

-1,097

2,444

223

-266

-120

948

-224

-103

-117

-17

-299

-46

-492

-369

-1,082

-547

1,371

-2,230

1,928

955

-3,086

3,854

988

946

-204

-3,793

3,115

409

-933

643

-788

Receivables from clearing brokers

-4,749

-7,214

-7,010

17,991

-2,582

-18,363

-10,829

7,299

-8,179

1,300

11,222

2,708

6,474

3,133

-2,275

-10,306

-6,807

-309

5,964

6,228

-31,080

32,061

-3,742

8,668

508

-559

10,934

3,535

-5,740

1,638

8,051

-5,375

7,526

-2,577

-383

3,637

Receivables from other broker-dealers

-1,546

2,956

-1,502

-2,935

5,606

-1,048

257

-559

895

-419

139

1,354

-708

-719

-96

226

1,189

-3,426

2,256

343

-52

-3,890

906

2,698

323

-2,793

1,964

483

618

-286

532

772

133

-2,659

995

680

Other receivables, net

4,391

-3,061

-1,364

2,902

2,735

1,325

7,028

2,798

11,916

-1,328

-4,948

433

2,945

-1,185

1,920

2,390

1,007

638

2,622

-4,286

6,100

-1,703

1,199

1,418

800

1,745

-1,532

140

2,923

-1,994

926

-194

7,344

-3,198

2,189

-126

Contract acquisition costs, net

4,542

3,754

4,844

5,835

5,535

3,319

6,099

14,104

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes receivable from financial advisors, net

1,480

1,543

821

-323

-574

724

-522

-205

15,120

1,869

2,108

2,466

4,522

2,859

1,812

1,923

2,770

4,578

726

1,754

2,151

362

2,919

10

5,512

-98

-1,305

38

5,184

-704

700

1,324

-

-

-

-

Cash surrender value of life insurance

1,296

119

756

1,653

-2,072

571

216

-20

511

439

1,143

408

594

1,412

71

-1,114

426

-939

7

-666

279

-1,783

397

-844

750

616

30

-233

22

408

-524

-860

-

-

-

-

Income taxes receivable

0

0

-473

-1,683

2,156

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other assets

8,058

-3,445

-2,391

-8,435

6,580

5,892

-2,335

5,229

-5,238

6,878

-2,677

818

-1,017

724

424

-1,322

7,141

-1,142

-3,533

2,915

-319

70

929

-641

6,095

-904

982

-806

2,384

-116

-2,347

2,160

-146

-381

1

501

Increase (decrease) in operating liabilities:
Securities sold, but not yet purchased, at fair value

385

-3,362

-1,700

2,522

2,509

-4,854

4,685

4

33

-153

18

-49

-294

48

317

73

-181

-4,764

4,862

91

-3,204

3,081

-5,657

5,927

-250

-4,286

4,313

14

205

23

31

-45

-

-

1,709

39

Accrued compensation

3,479

11,071

7,057

-20,521

7,179

4,595

8,590

-14,405

4,736

7,864

6,622

-12,178

7,244

1,124

5,241

-16,425

6,202

4,479

6,450

-11,499

844

1,358

3,826

-6,831

2,325

3,677

4,026

-1,947

192

-454

4,201

-2,421

-634

1,655

-767

399

Accrued interest

0

-1,792

285

1,384

123

-191

49

-11

287

-4

-6

-55

-153

-7

-8

-9

555

165

-78

-350

593

-216

1

-276

636

823

-3,705

-151

16

-1

8

1,657

3,050

-345

219

40

Commissions and fees payable

3,715

331

552

-185

-3,941

4,053

9,257

-679

4,837

688

-1,737

2,839

3,458

1,613

-2,160

-2,312

872

-1,312

2,518

61

3,130

-764

1,980

3,926

-601

2,027

-1,173

977

2,756

758

-341

2,506

3,650

-3,657

1,194

-275

Deferred compensation liability

2,120

930

1,758

1,292

-1,341

1,964

1,659

179

-325

582

596

61

-61

676

317

-896

646

-807

155

-423

349

-2,198

445

-599

705

687

40

-331

152

457

-448

-907

-

-

-

-

Lease liability

-1,970

-1,977

-1,854

-1,956

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts payable and accrued liabilities

12,467

-6,592

1,476

-6,539

-2,914

-4,885

1,914

12,903

-2,525

4,690

-2,023

438

-17

8,016

-2,881

-1,204

7,215

-324

-7,211

-1,689

-6,097

4,985

-3,698

-1,705

6,620

-3,812

3,011

171

3,993

-2,325

1,908

-2,745

-1,522

-140

-1,156

-5

Net cash provided by operating activities

12,050

25,800

36,313

-20,146

2,009

35,360

41,167

-15,164

-233

20,156

7,115

-10,823

8,645

7,257

7,264

-8,920

16,740

4,106

9,150

-10,677

26,915

-9,851

9,827

-36

4,668

15,462

-2,396

3,140

5,941

671

3,962

-2,926

-34,502

2,313

24

-1,184

Cash flows from investing activities:
Acquisition of Kestler Financial Group, net of cash received

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,919

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of fixed assets

4,000

2,891

2,904

3,249

3,999

3,898

4,366

2,239

2,638

2,552

2,313

2,393

2,134

1,298

1,861

1,839

1,624

1,885

2,399

2,390

1,560

1,162

2,688

2,037

2,255

1,569

2,125

912

1,825

857

2,094

701

1,251

79

73

36

Decrease (increase) in restricted assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

100

111

0

180

0

0

0

-100

0

250

0

0

-

-

-

-

0

0

0

-50

Net cash used in investing activities

-3,999

-2,896

-2,904

-3,249

-5,616

-5,587

-4,366

-2,239

-2,637

-2,732

-2,313

-2,393

-5,039

-2,490

-1,861

-1,839

-1,724

-2,499

-4,499

-19,489

-7,473

-4,515

-2,688

-1,937

-2,167

-1,819

-2,125

-912

-2,278

-857

-2,094

-701

-126,936

-79

-73

14

Cash flows from financing activities:
Issuance of Series A preferred stock

-5

-18

2,534

6,915

-93

-91

-52

-37

10,063

8,549

9,511

-28

-41

18,844

8,577

200

1,653

3,577

9,674

69,476

5,155

56,451

33,321

13,690

7,516

12,343

128,070

0

-

-

-

-

-

-

-

-

Issuance of common stock

1,063

311

965

439

265

1,388

1,599

1,014

4,690

397

3,527

452

413

616

675

1,357

517

396

289

814

1,030

681

730

841

832

56

43

325

73

61

140

521

337

210

23

112

Series A preferred stock dividends paid

8,702

8,702

8,695

8,590

8,508

8,507

8,508

8,508

8,456

8,149

7,953

7,924

7,924

7,780

7,389

7,345

7,335

7,289

7,152

6,332

5,461

4,848

3,710

3,225

3,004

2,879

1,028

0

-

-

-

-

-

-

-

-

Common stock dividends paid

1,799

1,793

1,793

1,794

2,417

2,448

1,969

1,960

1,918

1,962

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Repurchases and retirement of common stock

7

526

9,295

1,052

61,000

5,318

1,699

1,729

843

1,869

1,977

604

1,195

4,650

5,149

3,755

4,518

6,400

3,848

1,589

1,445

4,674

2,512

904

511

5,190

588

157

261

2,096

-1,308

358

271

525

579

118

Issuance of senior notes

-229

-266

55,461

96

-1,706

60,145

41,551

4,385

73,197

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Borrowings on term loan

0

0

0

7,000

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Bank loan and revolver repayments

556

573

579

209

32

5,312

677

669

687

740

346

219

104

213

183

128

30

121

118

118

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal repayments on notes payable

78

83

74

74

44

11,643

1,787

1,779

1,772

1,763

1,756

1,748

1,740

2,334

1,724

1,718

-

-

-

-

9,851

22,033

256

10,229

9,588

11,059

90,409

57

-3,114

55

55

54

-7,038

482

480

476

Principal repayments under a revolving credit facility, net

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

460

-1,319

100

0

1,000

-6,492

0

2,000

3,000

Third party investment in subsidiary

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

60

0

60

0

0

0

0

-

-

-

-

Principal payments on notes payable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,399

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net cash provided (used in) by financing activities

-10,313

-11,650

38,524

2,731

-76,535

28,214

28,458

-9,283

74,234

-5,537

8,156

-10,071

-10,665

4,483

-5,193

-11,389

-10,887

-11,607

-2,876

49,852

-11,307

25,577

28,073

173

-3,046

-6,669

10,128

631

1,607

1,114

-1,711

1,109

176,312

-797

964

2,518

Net increase in cash and cash equivalents

-2,262

11,254

71,933

-20,664

-80,142

57,987

65,259

-26,686

71,364

11,887

12,958

-23,287

-7,059

9,250

210

-22,148

4,129

-10,000

1,775

19,686

8,135

11,211

35,212

-1,800

-545

6,974

5,607

2,859

5,270

-276

1,361

-2,518

14,874

1,437

915

1,348

Supplemental cash flow information:
Interest paid

5,870

7,606

4,918

3,312

3,319

3,011

1,914

1,626

912

418

341

303

1,038

810

819

856

830

673

1,039

1,265

1,674

1,359

1,170

1,717

1,814

-288

8,588

5,920

9,067

5,201

5,238

3,462

624

632

625

580

Taxes paid

2,844

1,589

314

37

4,170

2,511

248

27

921

126

351

89

402

158

270

206

590

289

316

1,118

332

715

61

1,446

118

136

73

217

294

-7

61

140

285

14

15

58

Payments to Acquire Businesses, Net of Cash Acquired

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

16,919

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-