Moelis & Co MC Cash Flow

Moelis & co (MC)

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	Jun'13	Mar'13
Net income (loss)
30,126	27,150	54,698	37,667	16,177	56,005	44,888	53,130	53,981	-5,650	43,271	49,524	39,379	54,728	35,313	26,205	25,619	38,771	34,630	26,855	19,961	38,288	32,785	-60,610	22,092	21,136	711
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Bad debt expense
518	145	51	915	1,288	629	-793	537	671	1,374	1,090	52	379	-401	-326	-15	465	545	370	121	177	-46	-186	660	1,022	339	458
Depreciation and amortization
1,199	1,236	1,284	1,290	1,155	1,335	1,135	1,100	1,055	974	891	822	857	824	817	806	736	681	646	688	620	632	542	519	575	588	584
Amortization of compensation associated with acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	205
(Income) loss from equity method investments
-	-	-	-	-	-	-	2,226	888	-	2,791	-1,330	3,104	1,179	1,562	266	2,069	966	450	195	2,865	781	1,105	-2,851	-1,220	-569	1,418
Equity-based compensation
38,255	26,707	30,373	28,246	38,886	34,261	30,441	26,091	32,244	23,383	23,183	23,826	25,903	20,737	17,607	22,013	16,693	12,794	12,819	11,969	8,549	7,030	6,488	95,228	11,010	11,402	12,526
Deferred tax provision
-6,723	-6,597	13,273	-13,649	10,638	205	-2,235	1,266	7,302	177,951	5,630	8,222	-106	917	-1,157	-995	221	201	-497	161	931	-	-	-	-	-	-
Other
-2,099	3,105	855	2,957	416	4,893	2,673	-1,085	-2,603	5,499	-1,040	-1,196	-1,831	-1,504	-620	-59	-21	-56	-487	2	1	9	139	-3,923	540	-747	-361
Changes in assets and liabilities:
Accounts receivable
-5,565	-51,494	53,802	-645	-8,720	563	-10,001	19,919	-11,444	7,019	23,521	-6,640	11,707	-2,773	-1,319	5,322	-6,766	-3,920	12,639	3,504	-4,230	134	-908	-5,262	1,432	7,764	-15,614
Accrued and other receivables
1,899	-8,052	12,223	-4,189	-3,626	-12,688	-35,825	47,114	7,435	-6,814	2,096	4,710	-2,212	-2,328	-1,326	1,118	-1,026	4,072	-3,828	4,439	765	-3,605	-4,744	8,219	-241	-324	6,699
Prepaid expenses and other assets
-117	-782	1,908	894	183	1,246	297	216	-1,149	-1,691	582	2,760	3,737	-440	-1,458	460	-434	2,307	600	917	880	-972	-2,126	-4,901	6,009	2,058	757
Deferred compensation
4,925	2,835	-420	-2,107	2,616	-892	-290	-1,566	2,726	-260	-214	-1,411	1,946	-1,008	-947	-2,231	4,019	557	1,742	-1,124	2,245	1,275	5	-4,647	5,823	-1,384	1,840
Compensation payable
-150,260	96,783	47,901	6,454	-186,519	55,851	29,459	57,260	-89,487	33,497	25,524	38,538	-85,706	63,756	22,883	19,398	-95,298	51,588	27,638	23,893	-113,737	41,599	23,788	37,721	-69,507	15,417	-108,374
Accounts payable, accrued expenses and other liabilities
9,454	10,692	98	5,662	-19,021	481	10,765	-10,049	-1,963	8,177	4,813	-13,355	3,678	1,445	-3,650	434	-4,448	3,984	52	1,633	-3,918	3,436	6,348	955	364	-431	-743
Deferred revenue
1,439	-962	-7,458	1,298	3,071	486	2,638	1,026	-2,024	1,099	962	-6,613	6,527	-10,342	3,971	159	2,194	-70	-853	1,305	1,473	-2,166	-836	43	1,277	-2,404	2,148
Dividends received
1,942	0	0	0	2,848	0	0	0	2,737	-	-	-	-	612	0	1	803	1,942	1,488	855	130	-	-	-	-	0	2,375
Other liabilities
-	-	-	-	-	-	37	-945	-1,260	-	-446	-492	310	-1,491	-177	2,024	228	-670	127	632	-219	390	-403	426	271	888	1,497
Net cash provided by (used in) operating activities
-73,093	200,571	59,167	71,915	-122,346	158,299	162,595	62,592	7,403	97,899	62,661	97,853	-25,230	137,659	79,389	65,154	-50,628	105,840	65,304	60,179	-88,559	91,083	75,012	88,055	-45,239	39,932	-83,352
Purchase of investments
28,152	90,825	112,345	0	9,245	35,945	92,548	47,507	7,972	8,043	73,445	70,364	27,955	24,987	24,991	42,958	27,970	27,997	102,990	16,995	9,999	39,887	70,190	3,918	16,999	49,826	16,996
Proceeds from sales of investments
181,249	30,243	0	9,300	80,559	100,950	6,550	17,000	75,310	26,890	35,750	20,000	33,000	25,000	55,000	28,000	18,000	103,001	17,001	0	39,999	73,998	0	0	83,237	35,000	118,143
Proceeds from partial sale of equity method investment
-	-	-	-	-	-	-	-	-	-	-	-	-	2	0	0	9	-	-	-	-	0	0	265	4,180	-	-
Note payments received from employees
-	-	-	-	-	0	173	-11	204	76	302	0	403	-	-	-	-	-	-	-	-	0	0	145	686	0	383
Notes issued to employees
-	-	-	-	-	-	-	-	-	-	-	-	-	0	500	0	352	-	-	-	-	-	-	-	-	-	-
Purchase of equipment and leasehold improvements
13,139	935	945	2,415	2,172	2,032	1,755	2,074	1,059	1,094	1,540	1,215	1,798	133	451	1,297	989	1,094	800	1,533	569	1,507	1,592	72	717	355	385
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	51	4	-25	-14	-36	22	46	-50	130	0	1	1	1
Net cash provided by (used in) investing activities
139,958	-42,874	-85,026	6,885	69,142	62,973	-87,580	-32,592	66,483	17,829	-38,933	-51,979	3,650	-88	29,007	-16,259	-11,277	73,957	-86,641	-18,441	29,385	32,654	-72,031	-4,110	62,026	-15,182	101,144
Dividends and distributions
88,689	31,056	32,585	31,803	113,734	27,682	119,000	30,116	137,029	23,410	76,980	26,150	129,154	18,952	17,841	25,066	92,844	16,515	16,640	12,301	35,453	65,339	11,136	7,560	39,188	-	-
Payments under tax receivable agreement
-	-	-	-	-	-	-	-	-	5,354	0	0	5,032	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
11,819	13,593	2,002	5,372	492	65	86	6,330	365	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Treasury stock purchases
31,636	9,102	2,463	12,640	26,970	8,781	520	3,383	20,789	-	-	-	-	-	-	-	-	-	1,053	1,626	4,327	-	-	-	-	-	-
Payments to settle employee tax obligations on share-based awards
-	-	-	-	-	-	-	-	-	-	566	1,732	7,534	-	12	762	1,847	-	-	-	-	-	-	-	-	-	-
Class A partnership units and other equity purchased
-	-	-	-	-	0	158	0	135	0	128	0	101	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
-108,506	-40,363	-33,046	-39,071	-140,212	-47,392	-119,592	-27,169	-157,588	-30,706	-76,753	-23,232	-141,821	-19,645	-17,853	-25,828	-94,691	-19,161	-17,244	-14,020	-39,777	-65,339	-16,679	-190,709	-56,428	-9,449	-27,730
Effect of exchange rate fluctuations on cash, cash equivalents, and restricted cash
-2,176	1,596	-495	-168	1,126	223	-1,179	-995	1,396	483	906	911	771	-1,771	-1,059	-494	-872	-450	-1,218	2,058	-1,134	-2,552	-2,210	1,404	-17	-61	-1,625
Net increase (decrease) in cash, cash equivalents, and restricted cash
-43,817	118,930	-59,400	39,561	-192,290	174,103	-45,756	1,836	-82,306	85,505	-52,119	23,553	-162,630	116,155	89,484	22,573	-157,468	160,186	-39,799	29,776	-100,085	55,846	-15,908	-105,360	-39,658	15,240	-11,563
Tax distributions to Parent for partners
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	8,785	28,873
Other cash contributions from (distributions to) Parent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-17,490	-17,240	-664	1,143
Excess tax benefits from equity-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3	-	-	-	-	-	-
Supplemental cash flow disclosure:
Cash paid during the period for:
Income taxes
1,560	-326	283	1,553	11,895	7,641	1,665	2,719	11,466	5,641	5,844	8,983	11,369	8,004	5,890	5,251	9,468	6,720	7,376	4,737	7,167	2,772	649	516	1,712	222	900
Dividends paid, declared in the prior year
-	-	-	-	-	-	-	-	-	0	0	0	68,066	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other non-cash activity
Cumulative effect adjustment upon adoption of ASU 2016-13
364	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-cash distribution to Parent
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,904	-	-
Dividend equivalents issued
12,125	4,611	4,690	4,514	19,484	4,874	19,960	4,388	20,379	3,746	3,735	13,470	3,706	13,091	2,502	2,423	5,351	1,398	1,393	884	455	-	-	-	-	-	-
Class A Partnership Units or other equity converted into Class A Common Stock
786	555	42	430	240	-9,086	17,813	1,740	20,434	3,661	28,683	1,376	22,181	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend declared not paid
-	-	-	-	657	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cumulative Effect Adjustment upon Adoption of ASU 2014-09
-	-	-	-	-	0	0	0	3,155	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Forfeiture of fully-vested Group LP units or other equity units
96	-	-	-	-	-	-	-	-	0	0	0	36	-	-	-	-	-	-	-	-	-	-	-	-	-	-