VIRTUS INVESTMENT PARTNERS, INC. VRTSP Cash Flow

Virtus investment partners, inc. (VRTSP)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11
Cash Flows from Operating Activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
84,046	105,508	76,819	79,391	74,721	76,080	80,630	73,222	50,021	39,939	46,213	41,966	50,638	48,763	42,483	22,504	22,816	30,671	43,445	84,143	94,923	96,965	105,414	89,721	84,712	77,130	62,584	52,924	46,508	37,773	166,124	151,704	146,533	145,420	0	0	0
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation expense, intangible asset and other amortization
40,647	39,643	40,045	39,595	36,481	33,426	29,855	27,076	24,188	18,329	12,987	7,681	5,183	5,796	6,156	6,540	6,869	6,967	6,945	6,855	6,755	6,759	6,810	6,883	6,982	7,046	0	0	0	-	-	5,650	5,699	5,865	0	0	0
Intangible asset amortization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0
Stock-based compensation
20,222	22,230	22,570	22,411	22,820	23,100	22,271	22,910	22,745	20,327	17,854	14,780	12,169	11,948	11,761	12,088	12,070	11,863	11,923	11,701	11,212	9,778	8,998	8,426	8,141	7,960	7,544	7,221	6,742	6,927	6,956	6,857	6,417	5,625	0	0	0
Excess tax benefit from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	263	422	402	1,586	1,231	25,550	25,856	24,805	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of deferred commissions
2,477	2,940	3,526	4,006	4,090	3,847	3,376	2,882	2,529	2,308	0	0	0	-	-	-	-	7,924	10,778	13,668	16,177	17,907	18,453	17,866	16,370	14,453	12,658	11,319	10,772	10,715	10,805	10,826	10,125	8,874	0	0	0
Payments of deferred commissions
2,160	2,097	1,901	2,591	3,598	4,218	4,606	4,082	3,275	2,871	2,586	2,355	2,058	1,887	2,142	2,203	2,654	3,322	4,620	7,346	10,405	13,796	16,680	18,314	19,190	18,912	17,117	14,620	12,361	10,868	10,091	10,182	11,294	11,392	0	0	0
Equity in earnings of equity method investments
2,761	2,600	3,346	3,111	2,877	3,703	2,886	2,800	2,371	1,678	1,781	1,553	1,486	1,075	519	411	672	879	997	1,096	779	488	0	0	0	-	-	-	-	-	-	-	-	-223	0	0	0
(Gain) Loss on extinguishment of debt
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized and unrealized (gains) losses on investments, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-2,361	-1,158	0	0	0	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Realized and unrealized gains on trading securities, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Realized and unrealized losses (gains) on investments of consolidated sponsored investment products, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Sales (purchases) of investments, net
1,797	9,057	8,208	12,612	9,690	4,995	22,156	21,036	22,766	20,444	9,876	11,264	8,027	16,828	9,828	11,953	11,449	8,962	11,691	14,297	53,675	26,742	23,458	17,139	-21,050	-2,701	171	1,899	2,178	2,025	-1,881	370	-3,544	-4,425	0	0	0
(Purchases) sales of securities sold short by consolidated sponsored investment products, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Deferred taxes, net
14,862	5,982	4,111	9,307	8,078	10,429	26,489	24,785	20,664	22,835	3,423	-1,367	4,316	6,399	14,733	12,910	8,888	6,356	223	-2,284	-1,163	4,394	8,421	23,041	32,537	32,596	39,738	34,503	31,167	26,689	0	0	0	-	-	-	-
Changes in operating assets and liabilities:
Accounts receivable, net and other assets
-7,727	1,382	-11,369	-27,869	-19,433	-24,794	-18,873	-929	-14,681	961	10,864	9,630	9,764	1,695	-6,222	-6,531	-11,730	-10,620	-17,720	-5,530	5,378	4,157	21,109	10,137	11,818	13,416	14,383	12,747	12,099	10,047	10,382	7,912	8,512	5,953	0	0	0
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities
-7,051	-2,991	-9,365	-23,326	-34,423	-24,714	-25,945	-11,780	-15,375	11,468	10,796	3,015	11,455	50	-19,586	-25,121	-15,485	-14,795	1,228	7,956	13,786	17,754	35,689	34,292	17,302	31,051	18,417	16,798	15,376	15,919	15,439	4,581	5,091	13,316	0	0	0
Operating activities of consolidated investment products (CIP):
Change in liabilities of CIP
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	0	0	0
Liabilities of consolidated sponsored investment products
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Net cash provided by (used in) operating activities
-265,828	-36,723	-63,881	-51,710	-24,015	-62,555	-180,503	-391,874	-229,432	-182,859	-81,997	23,475	44,111	20,918	-153,609	-159,039	-222,953	-209,430	-13,534	33,766	-50,492	-58,871	-99,530	-84,422	968	28,837	51,345	45,828	43,881	39,818	31,539	39,760	21,018	23,650	0	0	0
Cash Flows from Investing Activities:
Capital expenditures and other asset purchases
5,345	7,555	16,162	15,554	13,010	11,717	2,784	3,107	2,417	1,511	1,805	1,608	1,801	2,023	2,421	2,798	3,877	4,683	4,341	3,951	3,390	2,432	2,169	2,197	1,686	2,009	2,824	2,716	3,117	3,782	2,953	2,707	1,957	743	0	0	0
Purchase of investment management contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Change in cash and cash equivalents of CIP due to deconsolidation, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-
Equity method investment contributions
-	-	-	-	-	-	-	-	-	-	-	-	-	2,471	2,471	775	2,376	1,617	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sale of available-for-sale securities
-21	2,023	2,023	2,044	39,829	37,785	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of available-for-sale securities
-	-	-	-	-	20,188	41,427	41,491	41,669	21,433	156	154	151	145	242	237	244	227	221	220	303	313	311	304	201	196	292	288	285	379	275	268	360	259	0	0	0
Net cash provided by (used in) investing activities
15,909	4,448	4,156	-142,189	-101,746	-121,228	-139,491	-12,545	-443,751	-416,994	-390,947	-392,798	9,566	3,079	3,590	4,914	-6,305	-6,438	-6,160	-10,753	-8,763	-8,181	-7,842	-2,795	-5,545	-6,231	-7,802	-8,108	-5,142	-5,167	-6,505	-5,902	-5,244	-4,070	0	0	0
Cash Flows from Financing Activities:
Payment of long term debt
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Common stock dividends paid
18,368	16,977	16,189	15,695	15,067	14,038	13,322	13,256	13,099	12,581	12,007	12,196	12,757	13,774	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends paid
8,338	8,338	8,338	8,338	8,338	8,338	8,337	8,337	8,337	6,253	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Payment of deferred financing costs
-	-	-	-	-	3,810	3,810	3,577	18,888	15,549	15,266	16,679	1,220	1,159	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Contingent consideration paid for acquired investment management contracts
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	630	575	600	634	665	705	765	1,110	789	0	0	0
Repurchases of common shares
35,001	40,000	45,000	42,500	42,500	27,501	0	0	0	-	-	-	-	233,757	107,216	113,809	81,000	80,000	0	0	0	-	-	-	-	19,704	0	0	0	-	-	-	-	7,870	0	0	0
Dividends paid
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from exercise of stock options
352	700	729	745	551	800	713	712	712	100	169	177	202	491	474	455	437	116	163	423	702	753	752	600	549	570	1,327	1,663	2,010	2,636	2,462	2,269	1,703	1,345	0	0	0
Taxes paid related to net share settlement of restricted stock units
6,443	7,696	6,675	7,862	6,381	6,591	6,580	5,708	6,049	3,499	3,448	3,227	2,993	1,530	1,518	1,571	1,959	5,080	5,080	5,082	6,233	9,512	9,532	9,612	9,757	7,513	8,164	7,915	15,080	11,951	11,280	11,443	2,263	720	0	0	0
Proceeds from issuance of mandatory convertible preferred stock, net of issuance costs
-	-	-	-	-	-	-	-	-	111,004	111,004	111,004	111,280	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of common stock, net of issuance costs
-	-	-	-	-	-	-	-	-	109,487	109,487	109,487	109,762	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net subscriptions received from (redemptions/distributions paid to) noncontrolling interests
-	-	-	-	-	-	-	-	-	-	-	0	0	-	20,912	23,000	64,589	55,700	42,529	49,798	32,777	28,653	49,022	35,849	37,539	35,547	0	0	0	-	-	-	-	-	-	-	-
Net subscriptions received from (redemptions/distributions paid to) noncontrolling interests
7,187	12,471	5,471	4,459	5,423	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefits from stock-based compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	401	263	422	402	1,586	1,231	25,550	25,856	24,805	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
445,479	99,558	118,581	264,655	187,328	204,157	153,385	405,054	556,822	750,464	670,103	291,193	129,579	-48,063	200,445	206,089	120,420	109,948	-25,223	1,965	-9,994	-1,189	36,409	187,060	195,984	185,493	157,949	-15,520	-25,629	-16,472	-21,024	-21,808	-15,956	-18,261	0	0	0
Net increase (decrease) in cash, cash equivalents and restricted cash
195,560	67,283	58,856	70,756	61,567	20,374	-166,609	635	-116,361	150,611	197,159	-78,130	183,256	-24,066	50,426	51,964	-108,838	-105,920	-44,917	24,978	-69,249	-68,241	-70,963	99,843	191,407	208,099	201,492	22,200	13,110	18,179	4,010	12,050	-182	1,319	0	0	0
Non-Cash Investing Activities:
Change in accrual for capital expenditures
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-Cash Financing Activities:
Increase (decrease) to noncontrolling interests due to consolidation (deconsolidation) of CIP, net
0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	0	0	0	-	-47,550	-37,339	-37,411	1,477	0	0	0	-	-	-	-	-	-	-	-
Common stock dividends payable
5,872	4,562	4,527	4,473	4,466	3,849	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Capital expenditures
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Preferred stock dividends payable
0	2,084	2,084	2,084	2,084	2,084	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Conversion of preferred stock to common stock
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Reconciliation of cash, cash equivalents and restricted cash
Satisfaction of accrued compensation through the issuance of RSU's
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	-	-
Preferred stock conversion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35,217	0	0	0	-	-	-	-
Consolidated entity excluding consolidated investment products
Realized and unrealized (gains) losses on investments, net
-3,981	6,855	-1,852	-2,500	-2,777	-5,736	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Realized and unrealized (gains) losses on trading securities, net
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consolidated Investment Products
Realized and unrealized (gains) losses on investments, net
-4,978	106	-13,535	-6,092	-22,585	-18,706	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of investments by CIP
1,381,925	1,029,746	1,054,591	998,097	999,751	1,106,991	0	1,414,255	1,095,439	923,519	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of investments by CIP
932,139	810,749	807,622	757,837	809,287	874,279	0	875,431	734,938	615,565	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net proceeds (purchases) of short term investments by CIP
4,917	4,402	1,631	-958	-1,286	-552	0	427	2,153	595	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Purchases) sales of securities sold short by CIP, net
358	1,241	1,450	1,215	1,083	209	0	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in other assets of CIP
-403	-998	203	-272	-442	628	0	2,673	1,282	255	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in liabilities of CIP
1,587	971	7,269	4,538	2,216	-1,567	0	2,527	1,645	5,284	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of discount on notes payable of CIP
7,805	4,505	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on borrowings by CIP
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Borrowings by CIP
0	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from issuance of notes payable by CIP
-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of notes payable by CIP
-	-	-	-	-	-	-	0	0	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consolidated investment products
Realized and unrealized (gains) losses on trading securities, net
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in cash and cash equivalents of CIP due to consolidation (deconsolidation), net
21,275	9,980	18,295	-1,684	-1,684	-113	0	-6,070	-6,219	-604	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-