| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net (loss) income | ||||||
-15,619 | -20,968 | 18,667 | 10,551 | 22,255 | 70,074 | |
Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||||||
Stock-based compensation | ||||||
7,222 | 5,404 | 2,771 | 3,800 | 3,053 | 895 | |
Amortization of Debt Issuance Costs | ||||||
754 | 741 | 1,579 | 1,018 | 545 | 752 | |
Accretion of debt discount | ||||||
1,297 | 667 | 1,126 | 958 | 776 | 604 | |
Provision for deferred taxes | ||||||
3,524 | -1,162 | -85 | -480 | -270 | -486 | |
Depreciation and amortization | ||||||
702 | 1,076 | 911 | 913 | 454 | 401 | |
Unrealized depreciation (appreciation) on investments | ||||||
-5,287 | -20,900 | -554 | - | - | - | |
Non-cash based performance fee compensation | ||||||
0 | 619 | 0 | - | - | - | |
Net change in unrealized depreciation on investments | ||||||
-5,287 | -20,900 | -554 | 27 | -885 | -272 | |
Loss (income) from equity method investments | ||||||
482 | -6 | 274 | 425 | -12,578 | 0 | |
Impairment on investments held at cost | ||||||
- | 90 | 0 | 518 | - | - | |
Reclassification of cumulative dividends paid on forfeited restricted stock units to compensation and benefits expense | ||||||
343 | 98 | 668 | 0 | 0 | - | |
Non-cash lease costs | ||||||
2,434 | - | - | - | - | - | |
Other non-cash amounts | ||||||
-178 | -56 | 13 | -169 | 0 | 0 | |
Provision for (benefit from) deferred taxes | ||||||
- | - | - | - | - | -728 | |
Changes in operating assets and liabilities: | ||||||
Management fees receivable | ||||||
-2,170 | -4,440 | 2,084 | -3,542 | 999 | 6,252 | |
Performance fees receivable | ||||||
0 | 0 | -1,974 | 2,443 | -3,055 | - | |
Income distributions received from equity method investments | ||||||
1,211 | 691 | 629 | 1,475 | - | - | |
Purchase of investments | ||||||
706 | 1,861 | 2,005 | 0 | - | - | |
Sale of investments | ||||||
1,111 | 1,920 | 0 | - | - | - | |
Sale of investments | ||||||
- | - | - | 0 | - | - | |
Performance fees receivable | ||||||
- | - | - | - | - | 2,234 | |
Other assets | ||||||
258 | -794 | -1,037 | 1,378 | 4,500 | 1,499 | |
Operating lease liabilities | ||||||
2,725 | - | - | - | - | - | |
Accounts payable, accrued expenses and other liabilities | ||||||
-4,230 | 2,061 | -12,652 | -1,236 | -9,640 | 8,073 | |
Net cash used in operating activities | ||||||
2,213 | 15,572 | 12,803 | - | - | - | |
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | ||||||
- | - | - | 16,966 | 28,192 | -196,202 | |
Cash flows from investing activities | ||||||
Purchases of fixed assets | ||||||
126 | 56 | 73 | 1,935 | 795 | 521 | |
Distributions received from investment held at cost less impairment | ||||||
222 | 0 | 0 | 203 | 0 | - | |
Capital contributions to equity method investments | ||||||
3 | 1,538 | 322 | 279 | 1,074 | 0 | |
Distributions received from equity method investment | ||||||
0 | 0 | 172 | - | 496 | 0 | |
Performance fee compensation payable | ||||||
- | - | - | - | - | -4,418 | |
Purchases of investments | ||||||
0 | 0 | 34,980 | 16,815 | 0 | - | |
Net cash provided by investing activities | ||||||
93 | -1,594 | -35,203 | - | - | - | |
Purchases of available-for-sale securities | ||||||
- | - | - | - | - | 0 | |
Net Cash Provided by (Used in) Investing Activities, Continuing Operations | ||||||
- | - | - | -18,826 | -1,373 | -521 | |
Cash flows from financing activities | ||||||
Payments to former minority interest holder | ||||||
4,375 | 847 | 0 | - | - | - | |
Repayments of loans payable | ||||||
0 | 0 | 44,800 | 50,513 | 1,250 | 51,937 | |
Proceeds from issuance of senior unsecured debt | ||||||
0 | 0 | 69,108 | 52,588 | 0 | - | |
Proceeds from issuance of debt obligations | ||||||
- | - | - | - | - | 123,900 | |
Payment of Initial Public Offering costs of Medley Management Inc. | ||||||
- | - | - | - | - | 3,715 | |
Capital contributions from non-controlling interests | ||||||
0 | 2 | 23,000 | 17,022 | 0 | 0 | |
Capital contributions from members | ||||||
- | - | - | - | - | 100,440 | |
Distributions to members, non-controlling interests and redeemable non-controlling interests | ||||||
4,524 | 32,378 | 36,698 | 29,960 | 40,174 | 120,787 | |
Debt issuance costs | ||||||
0 | 0 | 2,868 | 2,916 | 0 | 2,546 | |
Repurchases of LLC Units | ||||||
0 | 0 | 3,590 | 1,198 | 101 | 0 | |
Net cash used in financing activities | ||||||
-8,899 | -33,223 | 4,152 | - | - | - | |
Net decrease in cash and cash equivalents | ||||||
-6,593 | -19,245 | -18,248 | - | - | - | |
Net Cash Provided by (Used in) Financing Activities, Continuing Operations | ||||||
- | - | - | -14,977 | -41,525 | 277,334 | |
Net (decrease) in cash and cash equivalents | ||||||
- | - | - | -16,837 | -14,706 | - | |
Supplemental cash flow information | ||||||
Net increase (decrease) in cash, cash equivalents and restricted cash equivalents | ||||||
- | - | - | -16,837 | -14,706 | 80,611 | |
Interest paid | ||||||
9,446 | 9,396 | - | - | 6,576 | 3,900 | |
Income taxes paid | ||||||
143 | 955 | - | - | 4,982 | 2,411 | |
Distribution of shares of MCC incurred in connection with the exercise of a put option right by a former minority interest holder (Notes 11 and 16) | ||||||
16,498 | 0 | 0 | - | - | - | |
Fixed assets | ||||||
- | - | - | - | 0 | 0 | |
Issuance of non-controlling interest at fair value | ||||||
- | - | - | - | 0 | 0 | |
Fair value adjustment to redeemable non-controlling interest in STRF Advisors LLC (Note 16) | ||||||
0 | -12,275 | 0 | - | 0 | 0 | |
Transfer to Investments | ||||||
0 | 0 | 10,306 | - | - | - | |
Non-cash distribution to members | ||||||
- | - | - | - | - | 3,428 | |
Non-cash debt | ||||||
- | - | - | - | - | 2,500 | |
Transfer of membership interests to non-controlling interests in consolidated subsidiaries | ||||||
- | - | - | - | - | 928 | |
ASU 2018-02 [Member] | ||||||
Reclassification of the income tax impact of the Tax Cuts and Jobs Act on items within accumulated other comprehensive loss to retained earnings due to the early adoption of accounting standards update 2018-02 | ||||||
0 | 207 | 0 | - | - | - | |
Reclassification of the income tax impact of the Tax Cuts and Jobs Act on items within accumulated other comprehensive loss to retained earnings due to the early adoption of accounting standards update 2018-02 (Note 2) | ||||||
0 | 207 | 0 | - | - | - | |
Medley LLC [Member] | ||||||
Fair value adjustment to redeemable non-controlling interest in STRF Advisors LLC (Note 16) | ||||||
-18,109 | 0 | 0 | - | - | - | |