Silvercrest asset management group inc. (SAMG)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Dec'12Dec'11
Cash Flows From Operating Activities
Net income

15,412

17,368

12,531

9,982

11,085

10,708

17,168

19,720

14,609

Adjustments to reconcile net income to net cash used in operating activities:
Equity-based compensation

2,272

3,275

3,248

3,228

1,524

1,013

1,962

1,354

977

Depreciation and amortization

3,191

2,432

2,801

2,664

2,359

1,968

1,944

1,918

1,469

Deferred rent

-

3,752

3,037

-416

-

-

-

-

-

Loss on forgiveness of notes receivable

-

-

-

-

-

-

-

-

-34

Deferred income taxes

1,575

570

8,646

1,587

-

-

-

-

-

Amortization of acquired deferred revenue

-

-

-

-

-

-

-

-

870

Deferred rent

-

-

-

-

466

443

448

336

265

Reversal of lease abandonment charge

-

-

-

-

-

-

-

576

-

Deferred income taxes

-

-

-

-

-3,533

-3,600

-283

-22

275

Tax receivable agreement fair value adjustment

200

-30

5,299

-152

1,209

713

-

-

-

Provision for doubtful accounts

-

-

-

294

-

227

-

-

-

Non-cash interest on notes receivable from partners

13

25

39

56

66

61

82

-

-

Distributions received from investment funds

1,486

610

322

-

-

-

-

-

-

Non-cash interest on notes receivable from partners

-

-

-

-

-

-

-

138

180

Distributions received from investment funds

-

-

-

1

1,292

4

1,900

965

1,231

Equity income from investments

1,774

1,477

615

304

18

1,208

21

1,911

950

Other

-

37

1

1

2

6

-

-6

-

Cash flows due to changes in operating assets and liabilities:
Receivables and Due from Silvercrest Funds

3,647

-1,275

1,384

608

501

690

2,762

1,016

780

Prepaid expenses and other assets

823

2,665

-2,744

801

973

-711

4,532

-117

-192

Accounts payable and accrued expenses

514

512

-940

730

-121

-959

1,443

-118

644

Accrued compensation

782

3,196

4,477

2,032

285

4,857

8,485

406

-360

Other liabilities

-

-51

-24

-679

-695

369

734

154

-282

Interest payable on notes payable

-

18

80

171

212

249

313

201

115

Net cash used in operating activities

18,775

28,857

29,586

17,978

-

-

-

-

-

Cash Flows From Investing Activities
Net cash used in operating activities

-

-

-

-

16,243

20,351

26,387

20,756

15,401

Release of restricted certificates of deposit and escrow

-

-

-

-587

1

-435

1

-110

-335

Acquisition of furniture, equipment and leasehold improvements

3,812

1,756

804

723

388

664

275

257

606

Earn-outs paid related to acquisitions completed before January 1, 2009

-

-

-

-

-

1,805

703

720

-

Earn-outs paid related to acquisitions completed before January 1, 2009

-

-

-

-

-

-

-

-

663

Acquisition of Milbank, net of cash acquired

-

-

-

-

-

-

-

-

3,357

Net cash used in investing activities

-39,380

-1,756

-804

-284

-

-

-

-

-

Cash Flows From Financing Activities
Purchase of investments

-

-

-

-

-

-

-

42

419

Proceeds from sale of investments

-

-

-

-

-

-

-

139

234

Net cash used in investing activities

-

-

-

-

-3,936

-2,034

-3,479

-770

-4,476

Earn-outs paid related to acquisitions completed on or after January 1, 2009

-

-

-

630

570

511

462

75

-

Borrowings under revolving credit facility

-

-

-

-

-

-

7,000

-

-

Borrowings under credit facility

18,000

-

-

-

-

-3,000

-4,000

-

-

Contributions from partners

-

-

-

-

-

-

165

-

13

Redemptions of partners interests

-

-

-

-

-

270

451

222

237

Repayments of notes payable

1,800

758

1,826

2,200

2,010

2,627

2,217

1,695

1,445

Principal payments on financing leases

107

122

166

-

-

-

-

-

-

Operating lease liabilities

1,221

-

-

-

-

-

-

-

-

Payments on capital leases

-

-

-

171

145

60

15

20

16

Distributions to partners

7,698

6,773

6,205

5,761

5,546

5,242

29,317

14,749

9,994

Dividends paid on Class A common stock

5,328

4,659

3,895

3,857

3,783

3,657

661

-

-

Offering costs

-

-

-

-

-

-

1,482

-

-

Payments from partners on notes receivable

291

1,119

371

880

489

748

887

2,864

1,083

Net cash used in financing activities

4,154

-11,640

-12,477

-11,739

-

-

-

-

-

Net decrease in cash and cash equivalents

-16,451

15,461

16,305

5,955

-

-

-

-

-

Purchase of Class B units from partners of Silvercrest L.P.

-

-

-

-

-

-

35,365

-

-

Sale and issuance of Silvercrest Asset Management Group Inc. Class A common stock

-

-

-

-

-

-

56,689

-

-

Net cash used in financing activities

-

-

-

-

-11,565

-14,619

-9,229

-13,897

-10,596

Net decrease in cash and cash equivalents

-

-

-

-

742

3,698

13,679

6,089

329

Supplemental Disclosures of Cash Flow Information
Net cash paid during the period for:
Income taxes

4,274

5,953

1,713

4,079

3,967

5,014

1,067

995

855

Interest

439

39

115

204

-

-

-

-

-

Interest

-

-

-

-

149

437

316

225

114

Supplemental Disclosures of Non-cash Financing and Investing Activities
Common stock surrendered as payment for notes receivable from partners

-

-

-

-

-

92

-

-

-

Issuance of Class B units/shares of in conjunction with the acquisition

-

-

-

-

-

-

-

147

-

Recognition of deferred tax assets as a result of IPO

-

-

-

-

-

11

26,097

-

0

Recognition of deferred tax assets as a result of share conversions

1,057

1,235

279

328

1,038

-

-

-

-

Notes receivable from new partners issued for capital contributions to Silvercrest L.P.

-

100

165

120

-

-

-

-

-

Notes receivable from new partners issued for capital contributions to Silvercrest L.P.

-

-

-

-

-

940

455

112

836

Accrual of partner incentive distributions

-

-

-

-

-

-

6,000

-

0

Issuance of notes for redemption of partnership interests

-

-

-

-

-

-

5,300

-

34

Earnout accrual for acquisition

-

-

-

-

-

-

-

1,061

-

Recognition of tax receivable agreement liability

-

-

-

-

-

-

15,271

-

0

Assets acquired under capital leases

115

11

301

-

50

321

-

-

-

Operating lease assets (ASC 842 adoption)

33,485

-

-

-

-

-

-

-

-

Operating lease liabilities (ASC 842 adoption)

39,848

-

-

-

-

-

-

-

-

Finance lease assets (ASC 842 adoption)

198

-

-

-

-

-

-

-

-

Finance lease liabilities (ASC 842 adoption)

196

-

-

-

-

-

-

-

-

Adjustment of partner redemption obligation

-

-

-

-

-

1,774

-

-

-

Non-controlling Interest
Net income

6,766

7,738

7,194

-

-

-

-

-

-

Notes receivable from new partners issued for capital contributions to Silvercrest L.P.

-

100

165

-

-

-

-

-

-

Silvercrest Asset Management Group Inc.'s Equity
Net income

8,646

9,630

5,337

-

-

-

-

-

-

Neosho Capital, LLC
Acquisition

399

-

-

-

-

-

-

-

-

Earn-outs paid related to acquisitions completed on or after January 1, 2009

425

447

756

-

-

-

-

-

-

Earnout accrual for acquisition

1,403

-

-

-

-

-

-

-

-

Cortina Asset Management, LLC
Acquisition

35,169

-

-

-

-

-

-

-

-

Earnout accrual for acquisition

14,000

-

-

-

-

-

-

-

-

Cappiccille
Acquisition

-

-

-

148

-

-

-

-

-

Earnout accrual for acquisition

-

-

-

354

-

-

-

-

-