Silvercrest asset management group inc. (SAMG)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Jun'12
Net income

9,690

4,193

4,823

3,351

3,045

5,232

3,893

4,193

4,050

1,917

3,714

3,600

3,300

2,487

2,893

2,106

2,496

2,165

2,783

3,327

2,810

2,746

2,923

2,798

2,241

3,989

2,250

5,465

5,464

-

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

108

106

445

879

842

842

832

801

800

801

832

805

810

811

842

803

772

808

496

105

115

165

74

260

514

755

443

405

359

-

Depreciation and amortization

1,007

975

973

732

511

600

599

620

613

750

704

682

665

652

671

676

665

681

758

460

460

479

507

501

481

489

501

505

449

-

Deferred rent

-

-

-

-

-

21

1,207

1,232

1,292

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

2,306

-310

725

751

409

443

-84

81

130

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

47

-

-1

Deferred rent

-

-

-

-

-

-

-

-

-

-

103

104

91

-

110

107

107

120

114

116

116

123

101

105

114

113

113

114

108

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

-366

-476

-431

-

-141

-719

-367

-1,137

-156

-1,595

-645

-1,770

164

-981

-1,013

-239

0

0

-44

-

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

227

-

-

-

-

-

Tax receivable agreement adjustment

-

-

-

-

-

-

0

-104

-474

-

-95

0

-122

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest on notes receivable from partners

2

4

3

3

3

3

7

7

8

12

8

10

9

13

14

14

15

16

16

16

18

-

-

-

-

-

-

-

-

-

Non-cash lease expense

-323

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions received from investment funds

1,004

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest on notes receivable from partners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

19

-

18

19

25

-

Distributions received from investment funds

-

-

-

-

-

-

-

-

-

-

0

0

322

-1

0

1

1

0

0

0

1,292

1

0

0

3

0

0

0

1,900

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

-1

-

-

-

-2

-

-

-

-

2

0

2

2

-

0

0

-4

-

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

-1,803

239

2,795

-148

761

-1,457

-631

240

573

1,416

595

434

-1,061

2,404

-922

645

-1,519

1,790

-563

694

-1,420

515

310

1,158

-1,293

2,535

1,305

-308

-770

-

Prepaid expenses and other assets

732

-314

273

416

448

1,257

-91

-180

1,679

-988

-1,387

-885

516

350

-194

89

556

359

-331

-445

1,390

971

252

955

-2,889

3,971

5

11

545

-

Accounts payable and accrued expenses

-6,354

672

541

-1,261

562

1,244

91

-957

134

-19

-359

-404

-158

506

656

-979

547

271

-46

-1,027

681

1,321

-199

-807

-1,274

1,363

104

-261

237

-

Accrued compensation

-23,910

10,961

7,723

7,200

-25,102

7,591

8,046

7,971

-20,412

8,140

6,902

6,658

-17,223

7,337

5,779

5,273

-16,357

5,296

5,579

5,601

-16,191

6,107

5,273

5,125

-11,648

5,482

2,864

1,237

-1,098

-

Deferred and other liabilities

40

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

400

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

701

166

-38

-95

-

Interest payable on notes payable

-

-

-

-

-

0

0

9

9

9

13

29

29

31

35

52

53

56

66

44

46

0

71

89

89

78

131

68

36

-

Net cash used in operating activities

-15,117

14,943

11,919

12,858

-20,945

14,145

15,406

14,476

-15,170

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Flows From Investing Activities
Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-11,258

-

12,232

7,698

-10,617

7,196

10,557

8,736

-10,246

9,482

8,441

6,731

-4,303

6,440

5,018

7,545

7,384

-

Release of restricted certificates of deposit and escrow

-

-

-

-

-

-

-

-

-

-

-

-

-

-80

0

0

-507

-

-

-

-

0

-436

0

1

-56

-114

-84

255

-

Acquisition of furniture, equipment and leasehold improvements

173

233

763

2,598

218

1,125

104

384

143

221

90

400

93

433

95

147

48

51

62

113

162

327

48

262

27

202

9

37

27

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

126

0

0

1,679

-

-

-

-

-

Acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

148

-

-

-

-

-

-

-

-

-

0

0

2,500

-

Net cash used in investing activities

-173

-233

-35,932

-2,598

-617

-1,125

-104

-384

-143

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Flows From Financing Activities
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-93

-

-95

-147

311

-48

-62

-3,664

-162

-453

388

-262

-1,707

-146

105

-656

-2,782

-

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

413

-

-

-

425

-

-

-

-

-

0

0

756

0

0

450

180

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemptions of partners interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

30

0

240

0

190

0

261

-

Repayments of notes payable

900

-

-

-

-

-

-

-

-

-

-

794

96

98

1,071

930

101

694

1,083

104

129

2,206

108

119

194

1,513

0

224

480

-

Principal payments on financing leases

30

29

25

23

30

36

39

43

4

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-

-97

-95

-87

1,500

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital leases

-

-

-

-

-

-

-

-

-

-

45

42

34

40

44

44

43

46

61

19

19

22

19

4

15

-

-

-

-

-

Distributions to partners

2,226

313

1,626

3,474

2,285

232

1,529

2,940

2,072

204

1,359

2,693

1,949

1

1,345

3,040

1,375

-25

1,446

2,884

1,241

-2

1,249

2,646

1,349

-10

11,427

4,231

13,669

-

Dividends paid on Class A common stock

1,520

1,380

1,377

1,293

1,278

1,184

1,168

1,163

1,144

978

975

973

969

970

965

963

959

959

950

942

932

933

918

903

903

-

-

-

-

-

Payments from partners on notes receivable

300

0

0

0

291

0

567

0

552

0

0

25

346

347

0

25

508

8

0

0

481

7

0

112

629

-

-

-

720

-

Net cash used in financing activities

-4,789

-2,719

13,977

-4,877

-2,227

-1,452

-2,169

-4,904

-3,115

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-20,079

11,991

-10,036

5,383

-23,789

11,568

13,133

9,188

-18,428

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-3,458

-

-3,425

-5,402

-2,150

-1,666

-3,540

-4,519

-1,840

-6,152

-2,324

-4,071

-2,072

-4,227

7,233

1,455

-13,690

-

Net decrease in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

-14,809

-

8,712

2,149

-12,456

5,482

6,955

553

-12,248

2,877

6,505

2,398

-8,082

2,067

12,356

8,344

-9,088

-

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

940

503

1,181

1,749

841

1,221

1,230

1,104

2,398

534

-3

392

790

574

977

1,561

967

606

936

1,371

1,054

706

1,164

1,437

1,707

0

256

551

260

-

Interest

183

205

230

3

1

0

0

36

3

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

-

1

-

83

113

6

35

94

9

11

304

41

57

35

243

39

7

27

-

Supplemental Disclosures of Non-cash Financing and Investing Activities
Recognition of deferred tax assets as a result of IPO

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

184

0

0

0

11

-

-

-

-

-

Recognition of deferred tax assets as a result of share conversions

602

63

688

237

69

417

147

119

552

32

108

0

139

94

82

0

152

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnout accrual for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

354

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired under finance lease

-

-

72

0

26

-

0

0

11

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired under capital leases

-

-

-

-

-

-

-

-

-

60

78

0

163

-

-

-

-

18

21

0

11

0

32

0

289

-

-

-

-

-

Operating lease assets (ASC 842 adoption)

-

-982

-753

-930

36,150

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities (ASC 842 adoption)

-

39,644

-41,564

-1,017

42,785

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease assets (ASC 842 adoption)

-

-40,722

40,763

-23

180

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease liabilities (ASC 842 adoption)

-

-10

46

-23

183

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Neosho Capital, LLC
Acquisition

-

0

0

0

399

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

300

-

-

-

-

0

0

0

447

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnout accrual for acquisition

-

-283

0

0

1,686

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-