Silvercrest asset management group inc. (SAMG)
CashFlow / TTM
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

22,057

15,412

16,451

15,521

16,363

17,368

14,053

13,874

13,281

12,531

13,101

12,280

10,786

9,982

9,660

9,550

10,771

11,085

11,666

11,806

11,277

10,708

11,951

11,278

13,945

17,168

0

0

0

-

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

1,538

2,272

3,008

3,395

3,317

3,275

3,234

3,234

3,238

3,248

3,258

3,268

3,266

3,228

3,225

2,879

2,181

1,524

881

459

614

1,013

1,603

1,972

2,117

1,962

0

0

0

-

Depreciation and amortization

3,687

3,191

2,816

2,442

2,330

2,432

2,582

2,687

2,749

2,801

2,703

2,670

2,664

2,664

2,693

2,780

2,564

2,359

2,157

1,906

1,947

1,968

1,978

1,972

1,976

1,944

0

0

0

-

Deferred rent

-

-

-

-

-

3,752

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred income taxes

3,472

1,575

2,328

1,519

849

570

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

Deferred rent

-

-

-

-

-

-

-

-

-

-

0

0

400

-

444

448

457

466

469

456

445

443

433

445

454

448

0

0

0

-

Deferred income taxes

-

-

-

-

-

-

-

-

-

-

0

0

-1,651

-

-2,364

-2,379

-3,255

-3,533

-4,166

-3,846

-3,232

-3,600

-2,069

-2,233

-1,252

-283

0

0

0

-

Provision for doubtful accounts

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

227

0

0

0

-

-

-

-

-

Tax receivable agreement adjustment

-

-

-

-

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest on notes receivable from partners

12

13

12

16

20

25

34

35

38

39

40

46

50

56

59

61

63

66

0

0

0

-

-

-

-

-

-

-

-

-

Non-cash lease expense

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Distributions received from investment funds

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Non-cash interest on notes receivable from partners

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

0

0

0

-

Distributions received from investment funds

-

-

-

-

-

-

-

-

-

-

321

321

322

1

2

2

1

1,292

1,293

1,293

1,293

4

3

3

3

1,900

0

0

0

-

Other

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

0

-

-

-

-

6

0

0

0

-

0

0

0

-

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

1,083

3,647

1,951

-1,475

-1,087

-1,275

1,598

2,824

3,018

1,384

2,372

855

1,066

608

-6

353

402

501

-774

99

563

690

2,710

3,705

2,239

2,762

0

0

0

-

Prepaid expenses and other assets

1,107

823

2,394

2,030

1,434

2,665

420

-876

-1,581

-2,744

-1,406

-213

761

801

810

673

139

973

1,585

2,168

3,568

-711

2,289

2,042

1,098

4,532

0

0

0

-

Accounts payable and accrued expenses

-6,402

514

1,086

636

940

512

-751

-1,201

-648

-940

-415

600

25

730

495

-207

-255

-121

929

776

996

-959

-917

-614

-68

1,443

0

0

0

-

Accrued compensation

1,974

782

-2,588

-2,265

-1,494

3,196

3,745

2,601

1,288

4,477

3,674

2,551

1,166

2,032

-9

-209

119

285

1,096

790

314

4,857

4,232

1,823

-2,065

8,485

0

0

0

-

Deferred and other liabilities

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

734

0

0

0

-

Interest payable on notes payable

-

-

-

-

-

18

27

40

60

80

102

124

147

171

196

227

219

212

156

161

206

249

327

387

366

313

0

0

0

-

Net cash used in operating activities

24,603

18,775

17,977

21,464

23,082

28,857

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Flows From Investing Activities
Net cash used in operating activities

-

-

-

-

-

-

-

-

-

-

-

-

17,337

-

16,509

14,834

15,872

16,243

18,529

16,413

14,408

20,351

17,309

13,886

14,700

26,387

0

0

0

-

Release of restricted certificates of deposit and escrow

-

-

-

-

-

-

-

-

-

-

-

-

-

-587

0

0

0

-

-

-

-

-435

-491

-169

-253

1

0

0

0

-

Acquisition of furniture, equipment and leasehold improvements

3,767

3,812

4,704

4,045

1,831

1,756

852

838

854

804

1,016

1,021

768

723

341

308

274

388

664

650

799

664

539

500

275

275

0

0

0

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,805

0

0

0

-

-

-

-

-

Acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

0

0

0

-

Net cash used in investing activities

-38,936

-39,380

-40,272

-4,444

-2,230

-1,756

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash Flows From Financing Activities
Net cash used in investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-688

-

21

54

-3,463

-3,936

-4,341

-3,891

-489

-2,034

-1,727

-2,010

-2,404

-3,479

0

0

0

-

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

0

-

-

-

0

-

-

-

-

-

756

756

1,206

630

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Redemptions of partners interests

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

270

270

430

430

451

0

0

0

-

Repayments of notes payable

0

-

-

-

-

-

-

-

-

-

-

2,059

2,195

2,200

2,796

2,808

1,982

2,010

3,522

2,547

2,562

2,627

1,934

1,826

1,931

2,217

0

0

0

-

Principal payments on financing leases

107

107

114

128

148

122

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities

-

1,221

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Payments on capital leases

-

-

-

-

-

-

-

-

-

-

161

160

162

171

177

194

169

145

121

79

64

60

0

0

0

-

-

-

-

-

Distributions to partners

7,639

7,698

7,617

7,520

6,986

6,773

6,745

6,575

6,328

6,205

6,002

5,988

6,335

5,761

5,735

5,836

5,680

5,546

5,569

5,372

5,134

5,242

5,234

15,412

16,997

29,317

0

0

0

-

Dividends paid on Class A common stock

5,570

5,328

5,132

4,923

4,793

4,659

4,453

4,260

4,070

3,895

3,887

3,877

3,867

3,857

3,846

3,831

3,810

3,783

3,757

3,725

3,686

3,657

0

0

0

-

-

-

-

-

Payments from partners on notes receivable

300

291

291

858

858

1,119

1,119

552

577

371

718

718

718

880

541

541

516

489

488

488

600

748

0

0

0

-

-

-

0

-

Net cash used in financing activities

1,592

4,154

5,421

-10,725

-10,752

-11,640

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net decrease in cash and cash equivalents

-12,741

-16,451

-16,874

6,295

10,100

15,461

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net cash used in financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-13,047

-

-12,643

-12,758

-11,875

-11,565

-16,051

-14,835

-14,387

-14,619

-12,694

-3,137

2,389

-9,229

0

0

0

-

Net decrease in cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-

3,602

-

3,887

2,130

534

742

-1,863

-2,313

-468

3,698

2,888

8,739

14,685

13,679

0

0

0

-

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

4,373

4,274

4,992

5,041

4,396

5,953

5,266

4,033

3,321

1,713

1,753

2,733

3,902

4,079

4,111

4,070

3,880

3,967

4,067

4,295

4,361

5,014

4,308

3,400

2,514

1,067

0

0

0

-

Interest

621

439

234

4

37

39

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest

-

-

-

-

-

-

-

-

-

-

-

-

199

-

237

248

144

149

418

365

413

437

376

374

324

316

0

0

0

-

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

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

184

11

0

0

0

-

-

-

-

-

Recognition of deferred tax assets as a result of share conversions

1,590

1,057

1,411

870

752

1,235

850

811

692

279

341

315

315

328

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnout accrual for acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired under finance lease

-

-

0

0

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets acquired under capital leases

-

-

-

-

-

-

-

-

-

301

0

0

0

-

-

-

-

50

32

43

43

321

0

0

0

-

-

-

-

-

Operating lease assets (ASC 842 adoption)

-

33,485

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating lease liabilities (ASC 842 adoption)

-

39,848

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease assets (ASC 842 adoption)

-

198

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance lease liabilities (ASC 842 adoption)

-

196

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Neosho Capital, LLC
Acquisition

-

399

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

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

0

-

-

-

-

447

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnout accrual for acquisition

-

1,403

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-