XML 19 R7.htm IDEA: XBRL DOCUMENT v3.21.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash flows from operating activities    
Net income (loss) $ 19,928 $ (10,326)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities    
Depreciation and amortization expense 1,056 2,572
Equity-based compensation 26,632 0
Deferred taxes 865 0
Other non-cash compensation 941 1,065
Non-cash partnership interest-based compensation 4,903 7,920
Amortization of debt issuance costs 261 855
Amortization of terminated swap 536 0
Loss on extinguishment of debt 675 1,032
Change in fair value of derivatives 212 8,634
Change in fair value of warrant liabilities (14,057) 0
Amortization of deferred rent (397) (128)
Proceeds received from investments 3,894 2,596
Non-cash investment income (13,048) (3,373)
Other 28 30
Change in assets and liabilities    
Management fees receivable (1,429) 969
Incentive fees receivable 43,489 13,913
Due from related parties 2,813 820
Other assets 20,992 (15,264)
Accrued compensation and benefits (54,393) (42,188)
Employee related obligations 563 (2,971)
Accrued expenses and other liabilities (28,673) 807
Net cash provided by (used in) operating activities 15,791 (33,037)
Cash flows from investing activities    
Purchases of premises and equipment (55) (809)
Consideration received from assignment to partner 1,337 0
Contributions/subscriptions to investments (8,207) (6,425)
Withdrawals/redemption from investments 2,926 5,550
Net cash provided by (used in) investing activities (3,999) (1,684)
Cash flows from financing activities    
Capital contributions received from noncontrolling interest 1,083 174,564
Capital distributions paid to partners and member (11,687) (15)
Capital distributions paid to the noncontrolling interest (13,277) (5,814)
Proceeds from credit facility 0 20,000
Principal payments on credit facility 0 (3,000)
Principal payments on senior loan (50,259) (91,195)
Debt issuance costs (851) 0
Proceeds from exercise of warrants 24,465 0
Dividends paid (2,478) 0
Net cash provided by (used in) financing activities (53,004) 94,540
Effect of exchange rate changes on cash (661) (325)
Net increase (decrease) in cash and cash equivalents (41,873) 59,494
Beginning of period 198,146 79,866
End of period 156,273 139,360
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 3,622 5,456
Cash paid during the period for income taxes 678 726
Supplemental disclosure of non-cash information from financing activities    
Deemed contributions from GCMH Equityholders 4,903 7,920
Establishment of deferred tax assets, net related to tax receivable agreement and the Transaction (60) $ 0
Dividends declared but not paid $ 4,070