| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 |
|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||
Net income attributable to controlling and noncontrolling interests | |||||||||
9,857 | 22,985 | 48,525 | 82,408 | 116,952 | 123,735 | 76,941 | 76,419 | -106,416 | 53,098 |
Adjustment to reconcile net income to net cash provided by operating activities: | |||||||||
Interest expense related to change in mandatory redemption liability | |||||||||
- | - | - | - | - | - | - | - | 45,833 | 61,243 |
Equity-based compensation | |||||||||
3,680 | 2,268 | 2,305 | 2,877 | 5,454 | 41,534 | 82,920 | 72,274 | 216,253 | 682 |
Depreciation and amortization | |||||||||
3,763 | 1,719 | 1,763 | 2,481 | 2,472 | 2,317 | 1,889 | 1,686 | - | - |
Depreciation and amortization | |||||||||
- | - | - | - | - | - | - | - | 1,139 | 1,422 |
Change in Amounts Payable under Tax Receivable Agreement | |||||||||
199 | -1,341 | -12,859 | -1,536 | 2,810 | -2,014 | 110 | 24 | 0 | 0 |
Change in contingent consideration liability | |||||||||
- | - | - | -3,500 | 0 | 0 | - | - | - | - |
Impairment losses | |||||||||
- | - | - | 6,575 | 0 | 0 | - | - | - | - |
Gain on sale of intangible assets | |||||||||
194 | 2,626 | 1,043 | 0 | 0 | - | - | - | - | - |
Gain on sale of business | |||||||||
2,883 | 0 | - | - | - | - | - | - | - | - |
Gain (Loss) on Investments | |||||||||
1,677 | -1,450 | 2,441 | 227 | -4,423 | -826 | 1,066 | 348 | 147 | 1 |
Deferred income taxes | |||||||||
203 | 2,431 | 18,612 | 4,761 | -666 | 5,312 | 2,037 | 2,776 | 20 | 0 |
Amortization of debt issuance costs | |||||||||
- | - | - | 519 | 104 | 0 | 0 | - | - | - |
(Increase) decrease in operating assets and increase (decrease) in operating liabilities: | |||||||||
Accounts receivable | |||||||||
-1,253 | -3,890 | -6,538 | -3,816 | -7,897 | -519 | 1,178 | 4,553 | -442 | 6,454 |
Accounts receivableaffiliated mutual funds | |||||||||
- | - | - | -1,732 | -7,106 | -882 | - | - | - | - |
Accounts receivableaffiliated mutual funds | |||||||||
- | - | - | - | - | - | 2,694 | 917 | 902 | 2,971 |
Due from broker - consolidated funds | |||||||||
- | - | - | -3,812 | 5,000 | 0 | 0 | - | - | - |
Investment securities - consolidated funds | |||||||||
- | - | - | 0 | 1,150 | 0 | 0 | - | - | - |
Prepaid expenses and other assets | |||||||||
408 | -79 | -13 | 475 | -1,887 | 1,563 | 388 | 620 | 833 | 1,070 |
Other long-term assets | |||||||||
-2,453 | -15 | - | - | - | - | - | - | - | - |
Other long-term assets | |||||||||
- | - | 0 | - | - | - | - | - | - | - |
Accounts payable | |||||||||
-231 | 233 | -441 | -819 | -1,765 | 1,430 | 245 | 92 | -694 | 252 |
Accrued expenses and other liabilities | |||||||||
-1,298 | -6,582 | -3,924 | -12,058 | -9,609 | -1,543 | 7,013 | 5,581 | -761 | 13,025 |
Deferred revenue | |||||||||
1,455 | -908 | 3 | -729 | -1,874 | 805 | 1,665 | 440 | -72 | 746 |
Other long-term liabilities | |||||||||
-1,207 | -775 | -630 | 61 | -323 | 1,797 | 1,124 | 0 | 0 | - |
Net cash used in operating activities | |||||||||
14,965 | 22,838 | 56,421 | 89,698 | 128,718 | 174,037 | 168,618 | 152,854 | 153,862 | 119,972 |
Cash flows from investing activities: | |||||||||
Purchase of property and equipment | |||||||||
2,461 | 1,950 | 1,352 | 311 | 854 | 3,694 | 2,331 | 2,282 | 1,720 | 1,137 |
Cash received from option exercises | |||||||||
- | - | - | - | - | - | - | - | - | 48 |
Sale of investments | |||||||||
13,165 | 6,857 | 17,314 | 10,267 | 12,552 | 11,295 | 8,938 | 4,267 | 1,987 | 120 |
Purchase of investments | |||||||||
119,001 | 90,160 | 87,380 | 27,434 | 11,730 | 17,705 | 16,109 | 12,868 | 2,295 | 2,025 |
Due from broker | |||||||||
- | - | - | -4,022 | 0 | 0 | 5,000 | 0 | 0 | - |
Sale of intangible assets | |||||||||
194 | 2,626 | 1,043 | 0 | 0 | - | - | - | - | - |
Proceeds from sale of business, net | |||||||||
2,902 | 0 | - | - | - | - | - | - | - | - |
Acquisitions, net of cash received | |||||||||
- | - | -320 | 9,321 | 0 | 2,068 | 0 | 0 | - | - |
Proceeds from maturity of investments | |||||||||
108,378 | 61,119 | 39,496 | 2,105 | 2,105 | 605 | 0 | 505 | 0 | 505 |
Net cash provided by investing activities | |||||||||
3,177 | -21,508 | -30,559 | -20,672 | 2,073 | -11,567 | -14,502 | -10,378 | -2,028 | -2,489 |
Cash flows from financing activities: | |||||||||
Distributions to noncontrolling interests | |||||||||
5,854 | 13,089 | 32,173 | 58,981 | 89,338 | 120,241 | 120,852 | 108,059 | 148,628 | 119,619 |
Payment of stock purchase note payable | |||||||||
- | - | - | - | - | - | - | - | 201 | 120 |
Dividends paid on Class A common stock | |||||||||
1,244 | 4,878 | 6,005 | 9,529 | 10,215 | 9,841 | 8,710 | 6,520 | 0 | 0 |
Payment of shares withheld to satisfy withholding requirements | |||||||||
400 | 0 | 272 | 953 | 64 | 0 | 0 | - | - | - |
Payment of capital lease obligations | |||||||||
141 | 121 | 167 | 200 | 233 | 245 | 215 | 183 | 81 | 146 |
Proceeds on issuance of stock | |||||||||
- | - | - | - | - | - | - | - | 54 | 2 |
Capital contributions | |||||||||
- | - | - | - | - | - | - | - | 4,007 | 5,141 |
Net proceeds from issuance of Class A common stock in initial public offering | |||||||||
- | - | - | - | - | - | - | - | 154,449 | 0 |
Payment of costs directly associated with issuance of Class A common stock | |||||||||
- | - | - | - | - | - | - | 598 | 2,106 | 0 |
Purchase of Class A units of Manning & Napier Group, LLC | |||||||||
3,051 | 1,918 | 9,802 | 16,135 | 37,720 | 32,401 | 7,413 | 0 | 105,663 | 0 |
Payment of debt issuance costs | |||||||||
- | - | - | 0 | 622 | 0 | 0 | - | - | - |
Net cash used in financing activities | |||||||||
-10,640 | -20,006 | -48,419 | -85,798 | -138,192 | -162,728 | -137,190 | -115,360 | -98,169 | -114,742 |
Net increase (decrease) in cash and cash equivalents | |||||||||
7,502 | -18,676 | - | - | - | - | - | - | - | - |
Net increase (decrease) in cash and cash equivalents | |||||||||
- | - | -22,557 | -16,772 | -7,401 | -258 | 16,926 | 27,116 | 53,665 | 2,741 |
Supplemental disclosures: | |||||||||
Cash paid during the period for interest | |||||||||
26 | 80 | - | - | - | - | - | - | - | - |
Cash paid during the period for interest | |||||||||
- | - | 36 | 287 | 323 | 27 | 23 | 25 | 4 | 16 |
Cash payments during the period for taxes, net of refunds | |||||||||
238 | -89 | 1,058 | - | - | - | - | - | - | - |
Cash paid during the period for taxes, net of refunds | |||||||||
- | - | - | 3,905 | 4,758 | 8,056 | 6,142 | 6,984 | 1,101 | 661 |
Non-cash investing and financing activities: | |||||||||
Capital expenditures in accounts payable and accruals | |||||||||
247 | 266 | 238 | 19 | 121 | 619 | 544 | 122 | 125 | 240 |
Equipment acquired through capital lease obligation | |||||||||
175 | 34 | 94 | 142 | 227 | 89 | 521 | 52 | 120 | 123 |
Accrued dividends | |||||||||
312 | 306 | 1,203 | 2,397 | 2,361 | 3,291 | 3,272 | 2,173 | 0 | 0 |
Accrued costs directly associated with issuance of Class A common stock | |||||||||
- | - | - | - | - | - | - | - | 598 | 0 |