Pjt partners inc. (PJT)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Mar'15
Operating Activities
Net Income

32,009

38,043

14,781

10,026

937

12,530

12,279

11,020

6,729

-28,364

-2,356

-565

2,959

18,729

-10,336

-4,716

1,431

-16,107

Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities
Equity-Based Compensation Expense

37,332

21,249

24,670

30,676

34,973

27,465

26,372

27,092

37,062

27,549

27,689

27,434

33,256

23,928

22,897

21,567

20,618

9,561

Depreciation and Amortization Expense

3,820

3,787

3,454

3,635

3,620

3,611

2,263

2,092

2,007

1,991

2,038

2,022

2,092

2,096

4,004

4,025

3,901

-

Amortization of Operating Lease Right-of-Use Assets

5,193

4,930

4,586

5,164

3,632

-

-

-

-

-

-

-

-

-

-

-

-

-

Provision for Credit Losses

997

-

-

-

286

-

-

-

-

-

-

-

-

-

-

-

-

-

Bad Debt Expense

-

-

-

-

-

-

-

-

-

-

-82

408

199

1,694

1,253

1,210

-25

609

Excess Tax Benefits Related to Equity-Based Compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

71

Depreciation Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

864

Amortization Expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

663

Foreign Currency Transaction (Gains) Losses

-

-

-

-

-

-

-

-

-

-

-

1,828

-599

-

-

-

421

-

Deferred Taxes

-92

6,216

3,973

2,758

-1,438

-909

-3,425

-2,896

-602

49,350

-17,019

-131

-1,239

-

-

-

-

-

Other

-279

-752

-1,902

-423

-489

-1,614

-272

-1,052

2,230

-

-

-

-

-

-

-

-

111

Cash Flows Due to Changes in Operating Assets and Liabilities
Accounts Receivable

21,982

-29,523

37,041

17,399

-13,858

24,752

-18,467

-3,146

33,454

21,716

-53,643

19,084

-28,336

49,447

-805

4,270

11,941

-3,295

Taxes Receivable

-

-

-

-

-

-

-

-

-

-

-3,439

13,083

2,552

-

-

-

-

-

Receivable from Affiliates

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-1,036

Due from Blackstone

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

20,888

Deferred Tax Assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-438

666

-

Other Assets

18,319

1,143

-690

-2,839

19,998

-320

-6,405

-3,957

11,612

12,370

269

-1,990

-1,949

-3,407

-8,017

6,050

5,803

173

Accrued Compensation and Benefits

-55,645

14,010

45,572

34,275

-63,913

-11,219

33,897

30,336

-58,431

16,786

4,702

33,456

-101,042

18,004

45,971

11,495

-12,310

22,937

Accounts Payable, Accrued Expenses and Other Liabilities

-5,957

3,996

2,248

-1,846

-3,043

-3,494

-1,161

-3,775

6,828

-5,867

4,454

1,336

-245

-600

-5,160

-7,913

12,554

-931

Operating Lease Liabilities

-4,118

-4,165

-4,366

-4,878

-5,137

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred Rent Liability

-

-

-

-

-

-343

-309

-174

188

222

224

100

-222

-219

-226

2,177

2,872

-

Deferred Tax Liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

15

-

Taxes Payable

2,838

1,838

493

-685

-3,855

4,248

877

321

-635

1,327

-165

-1,054

759

350

300

-1,554

759

-9

Deferred Revenue

-1,414

5,367

2,824

-1,568

-329

-4,402

2,180

947

1,186

-56

-10

-990

635

-4,333

8

4,819

-140

-371

Net Cash Used in Operating Activities

-25,059

124,403

63,786

63,134

-39,918

4,669

98,117

73,118

-52,964

40,075

75,645

31,209

-35,714

19,862

66,581

19,564

10,844

304

Proceeds from Repayment of Note Issued to Employee

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

538

-

Purchases of Investments

23,918

-

-

-

-

0

1,139

-1

20,862

1,990

20,178

9,995

25,000

-

-

-

-

-

Proceeds from Sales and Maturities of Investments

1,324

-

-

-

-

23,008

983

0

35,185

-

-

-

-

-

-

-

-

-

Purchases of Furniture, Equipment and Leasehold Improvements

5,364

2,452

1,882

2,916

1,561

742

504

2,821

3,139

218

317

181

346

337

4,035

2,284

6,432

-

Settlement of Acquisition-Related Escrow

-

0

0

0

-7,485

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Cash Provided by (Used in) Investing Activities

-27,958

6,153

-10,881

-2,916

5,924

-39,197

-660

-2,820

11,184

17,780

-20,495

-10,176

-25,346

-1,115

-4,057

-1,484

-5,894

-

Dividends

1,217

1,156

1,141

1,160

1,188

1,165

1,072

1,115

967

947

949

950

950

932

934

928

934

-

Proceeds from Revolving Credit Facility

16,000

0

0

0

15,000

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on Revolving Credit Facility

16,000

0

0

0

15,000

-

-

-

-

-

-

-

-

-

-

-

-

-

Principal Payments on Term Loan

21,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Employee Taxes Paid for Shares Withheld

12,124

143

178

673

8,604

751

629

1,584

19,468

14

562

130

3,368

-

-

-

-

-

Cash-Settled Exchanges of Partnership Units

11,500

4,500

4,400

700

9,400

23,200

14,800

6,594

24,306

6,147

7,198

19,116

13,050

-

-

-

-

-

Treasury Stock Purchases

25,200

-

-

-

-

29,073

10,070

21,837

3,890

-

-

-

-

-

-

-

-

-

Payments Pursuant to Tax Receivable Agreement

-

0

0

0

210

0

0

0

10

-

-

-

-

-

-

-

-

-

Principal Payments on Finance Leases

39

39

36

30

40

30

25

26

25

25

25

24

23

22

60

-19

25

-

Net Cash Used in Financing Activities

-71,554

-25,734

-27,898

-28,180

-19,479

-24,248

-26,577

-31,189

-48,666

-14,169

-14,168

-33,911

-17,391

-23,648

-6,965

-945

-959

-5,339

Effect of Exchange Rate Changes on Cash and Cash Equivalents

-3,035

3,089

-1,182

-2,171

1,710

-1,488

-40

85

1,167

-348

419

293

-515

-394

-1,860

82

-330

71

Net Decrease in Cash and Cash Equivalents

-127,606

107,911

23,825

29,867

-51,763

-60,264

70,840

39,194

-89,279

43,338

41,401

-12,585

-78,966

-5,295

53,699

17,217

3,661

-5,035

Net Decrease from Former Parent Company Investment

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-5,410

Supplemental Disclosure of Cash Flows Information
Payments for Income Taxes, Net of Refunds Received

2,407

-2,207

383

1,414

4,253

-604

458

43

604

-286

554

12,678

2,160

-382

3,309

3,164

722

-

Payments for Interest

109

233

314

364

475

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-Cash Receipt of Shares

-

-

-

-

-

0

0

0

2,254

-

-

-

-

-

-

-

-

-

Payments for Income Taxes, including those to Former Parent

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

666

Supplemental Disclosure of Significant Non-Cash Activities
Non-Cash Contributions from Former Parent

-

-

-

-

-

-

-

-

-

-

-

-

-

4,505

0

1,685

2,376

-