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Consolidated Statement of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash Flows from Operating Activities    
Net income (loss) $ (90,290) $ 886
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation and amortization 4,517 610
Amortization of debt discounts and deferred financing costs 2,364 0
Unrealized (gain) loss on investments (3,553) 46
(Income) loss on equity method investments 172 (37)
Restricted unit compensation 0 591
Gain (loss) on warrant liability 12,942 0
Gain (loss) on earn-out liability 29,206 0
Deferred income tax (benefit) expense 3,119 (18)
Equity-settled share-based payments 28,953 0
Unrealized foreign currency (gains)/losses 58 0
(Gain)/loss from retirement of debt (73) 0
Fair value of interest rate swap 54 (174)
Cash flows due to changes in operating assets and liabilities    
Fees receivable 11,147 680
Other assets (8,220) (782)
Operating cash flow from operating leases 290 623
Accounts payable and accrued expenses (27,102) 536
Accrued compensation and profit sharing (13,357) (7,476)
Distributions due to former TIG members (7,108) 0
Other liabilities (11,524) 184
Other operating activities 186 0
Net cash provided by (used in) operating activities (68,153) (3,629)
Cash Flows from Investing Activities    
Cash acquired from consolidation of variable interest entity 0 471
Cash payment for acquisition of TWMH and TIG historical equity (99,999) 0
Receipt of payments of notes receivable from members 216 334
Cash receipts from the repayment of advances and loans 298 0
Purchases of investments (15,376) (48)
Purchase of TIH shares 0 (382)
Purchase of Holbein 0 (8,097)
Payment of Payout Right (760) 0
Sales of investments 1,599 266
Purchases of fixed assets (107) (6)
Net cash provided by (used in) investing activities (114,129) (7,462)
Cash Flows from Financing Activities    
Member contribution (distribution) (4,257) (3,475)
Payments on term notes and lines of credit (136,273) (640)
Borrowings on term notes and lines of credit 145,660 11,200
Cash payment for purchase of shares issued as part of Alvarium share compensation (4,215) 0
Cash receipts from exercise of Warrants 4,008 0
Other financing activities 1 0
Net cash provided by (used in) financing activities 4,924 7,085
Effect of exchange rate changes on cash 1,052 (46)
Net increase (decrease) in cash (176,306) (4,052)
Cash and cash equivalents at beginning of the period 194,096 8,040
Cash and cash equivalents at end of the period 17,790 3,988
Supplemental Disclosure of Cash Flow Information    
Income taxes 0 64
Interest payments on term notes and lines of credit 1,107 64
Shareholder Loan    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Forgiveness of debt 66 619
Member Notes Receivable    
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Forgiveness of debt $ 0 $ 83