| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||||
Net income | ||||||||
46,856 | 49,822 | 31,320 | 46,848 | 50,775 | 43,979 | 28,252 | 33,324 | 24,249 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | ||||||||
22,323 | 20,678 | 20,512 | 16,094 | 15,124 | 15,316 | 15,166 | 12,090 | 14,473 |
Bad debt expense | ||||||||
4,964 | 2,257 | 1,109 | 1,195 | 433 | 630 | 604 | 611 | 728 |
Loss (gain) on sale or disposition of assets and sublease, net | ||||||||
-342 | 139 | -4,260 | 171 | 3,650 | 14 | -373 | -1,704 | -67 |
Loss on early extinguishment of debt | ||||||||
- | - | - | -796 | -94 | -178 | -1,798 | -136 | -384 |
Equity in earnings of investees | ||||||||
- | - | - | - | 1,215 | 600 | 904 | 1,244 | 431 |
Distributions received from equity investees | ||||||||
- | - | - | - | 1,178 | 549 | 1,162 | 861 | 469 |
Equity-based compensation expense | ||||||||
10,934 | 9,176 | 2,900 | 2,330 | 1,453 | 2,002 | 2,995 | 1,089 | - |
Non-cash interest expense | ||||||||
- | - | - | - | - | 365 | 859 | 936 | 930 |
Deferred income tax expense | ||||||||
2,310 | 9,511 | 47,931 | 3,367 | 2,531 | 1,865 | 402 | 85 | 35 |
Fair value adjustments to contingent consideration | ||||||||
241 | -1,289 | 180 | 100 | - | - | - | - | - |
Payments pursuant to tax receivable agreements | ||||||||
3,556 | 6,305 | 13,371 | 1,344 | - | 986 | - | - | - |
Non-cash change in tax receivable agreement liability | ||||||||
0 | 6,145 | 32,736 | - | - | - | - | - | - |
Other, net | ||||||||
-910 | -1,127 | -1,146 | -1,029 | -1,014 | - | - | - | - |
Changes in operating assets and liabilities | ||||||||
Accounts and notes receivable, current portion | ||||||||
5,614 | 3,241 | 2,825 | 3,841 | 999 | 1,466 | 585 | 1,041 | 976 |
Advances from/to affiliates | ||||||||
0 | 581 | -106 | 71 | -771 | -161 | 57 | 252 | 313 |
Other current and noncurrent assets | ||||||||
6,084 | -2,170 | 2,724 | -186 | -502 | -100 | 1,245 | 740 | 531 |
Other current and noncurrent liabilities | ||||||||
6,737 | -3,466 | 1,592 | -1,956 | 7,253 | 1,816 | 1,574 | 2,238 | 3,754 |
Income taxes receivable/payable | ||||||||
178 | 1,099 | -605 | -71 | 2,770 | -222 | - | - | - |
Deferred revenue, current and noncurrent | ||||||||
-1,566 | 228 | 4,705 | -254 | 866 | 1,094 | -439 | 958 | 125 |
Net cash provided by operating activities | ||||||||
- | - | - | - | - | 64,445 | 50,069 | 51,259 | - |
Net cash provided by operating activities | ||||||||
78,975 | 76,064 | 63,288 | 64,379 | 77,358 | - | - | - | 43,589 |
Cash flows from investing activities: | ||||||||
Purchases of property, equipment and capitalization of software | ||||||||
13,226 | 7,787 | 2,198 | 4,502 | 3,628 | 2,026 | 1,108 | 1,610 | 918 |
Proceeds from sale of property and equipment | ||||||||
- | - | - | - | - | 5 | 18 | 32 | 57 |
Cost to sell assets | ||||||||
- | - | - | - | - | - | - | 106 | - |
Capitalization of trademark costs | ||||||||
- | - | - | - | - | 122 | 232 | 206 | 486 |
Acquisitions, net of cash acquired of $55, $362 and $0, respectively | ||||||||
14,945 | 25,888 | 35,720 | 112,934 | - | - | 27,305 | 45,500 | - |
Restricted cash acquired with the Marketing Funds acquisition | ||||||||
28,495 | 0 | 0 | - | - | - | - | - | - |
Dispositions | ||||||||
- | - | - | 200 | 5,650 | 100 | - | - | - |
Other | ||||||||
1,200 | 0 | 0 | 96 | 358 | - | - | - | - |
Net cash used in investing activities | ||||||||
- | - | - | - | - | -2,043 | -28,627 | -47,390 | - |
Net cash (used in) provided by investing activities | ||||||||
-876 | -33,675 | -37,918 | -117,332 | 1,664 | - | - | - | -1,347 |
Cash flows from financing activities: | ||||||||
Proceeds from issuance of debt | ||||||||
- | - | - | 233,825 | - | - | 230,000 | 45,000 | - |
Debt issuance costs | ||||||||
- | - | - | - | - | - | - | 697 | - |
Proceeds from issuance of Class A common stock in initial public offering | ||||||||
- | - | - | - | - | - | 235,922 | - | - |
Payments on debt | ||||||||
2,622 | 3,171 | 2,366 | 203,298 | - | 204 | - | 361 | 391 |
Payments on debt | ||||||||
- | - | - | - | 9,722 | 16,816 | 234,658 | 8,386 | 16,484 |
Capitalized debt amendment costs | ||||||||
- | - | - | 1,379 | 555 | - | 1,345 | - | - |
Distributions paid to non-controlling unitholders | ||||||||
15,430 | 14,559 | 17,260 | 17,927 | 42,827 | 22,197 | - | - | - |
Payments of costs directly associated with issuance of Class A common stock | ||||||||
- | - | - | - | - | - | 5,972 | - | - |
Purchase of Common Units from RMCO, LLC | ||||||||
- | - | - | - | - | - | 197,618 | - | - |
Distributions to non-controlling unitholders | ||||||||
- | - | - | - | - | - | 27,614 | 9,603 | 15,370 |
Dividends and dividend equivalents paid to Class A common stockholders | ||||||||
15,074 | 14,306 | 12,793 | 10,578 | 24,003 | 2,901 | - | - | - |
Proceeds from exercise of stock options | ||||||||
- | - | - | 101 | 2,248 | 486 | -266 | - | - |
Payments related to tax withholding for share-based compensation | ||||||||
1,110 | 895 | 816 | 516 | 327 | 1,781 | - | - | - |
Payment of contingent consideration | ||||||||
306 | 221 | - | - | - | - | - | - | - |
Distribution to member in connection with combination of entity under common control | ||||||||
- | - | - | - | - | - | - | - | 15,894 |
Net cash used in financing activities | ||||||||
-34,542 | -33,152 | -33,235 | 228 | -75,186 | - | - | - | -48,139 |
Net cash used in financing activities | ||||||||
- | - | - | - | - | -43,413 | -1,551 | 25,953 | - |
Effect of exchange rate changes on cash | ||||||||
70 | -70 | 1,063 | 122 | -823 | -165 | -17 | 68 | -61 |
Net increase in cash, cash equivalents and restricted cash | ||||||||
43,627 | 9,167 | -6,802 | -52,603 | 3,013 | 18,824 | 19,874 | 29,890 | -5,958 |
Supplemental disclosures of cash flow information: | ||||||||
Cash paid for interest | ||||||||
11,690 | 11,525 | 9,972 | 7,797 | 9,319 | 8,880 | 13,769 | 10,688 | 11,245 |
Net cash paid for income taxes | ||||||||
8,429 | 5,769 | 10,078 | 11,912 | 5,841 | 8,521 | 2,310 | 2,008 | 2,192 |
Schedule of non-cash investing activities: | ||||||||
Establishment of amounts payable under tax receivable agreements | ||||||||
- | - | - | - | 33,018 | 436 | 68,840 | - | - |
Establishment of deferred tax assets | ||||||||
- | - | - | - | 43,774 | 917 | 69,711 | - | - |
Note receivable received as consideration for sale of brokerage operations assets | ||||||||
- | - | - | 150 | 851 | - | - | 217 | - |
Capital lease for property and equipment | ||||||||
- | - | - | - | - | 18 | 581 | 40 | 268 |
Increase in accounts payable for capitalization of trademark costs and purchases of property, equipment and software | ||||||||
- | - | - | 150 | 667 | 165 | 78 | - | - |
Contingent consideration issued in a business acquisition | ||||||||
- | - | - | 6,300 | - | - | - | - | - |
Schedule of non-cash investing activities: | ||||||||
Increase (decrease) in accounts payable and accrued liabilities for purchases of property, equipment and capitalization of software | ||||||||
-94 | 1,080 | 295 | - | - | - | - | - | - |
Tax and other distributions payable to non-controlling unitholders | ||||||||
- | - | - | - | - | - | 2,552 | - | - |