Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

v3.22.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 18,076 $ (3,801)
Adjustments to reconcile net income to cash flows from (used for) operating activities:    
Loss (gain) from equity method investment 543 (81)
Amortization 26,663 27,794
Depreciation 1,211 1,200
Prepaid and deferred compensation expense 9,684 8,158
Non-cash equity based compensation 23,248 4,430
Amortization of deferred debt issuance costs 2,811 2,517
Deferred income taxes (8,251) (80)
Loss on tax receivable agreement 7,718 0
Change (net of acquisitions and divestitures) in:    
Commissions and fees receivable - net 20,543 19,187
Accrued interest 2,877 248
Other current assets and accrued liabilities (164,924) (139,401)
Other non-current assets and accrued liabilities (5,669) 5,024
Total cash flows used for operating activities (65,470) (74,805)
CASH FLOWS FROM INVESTING ACTIVITIES    
Prepaid incentives issued – net of repayments (497) 0
Capital expenditures (2,224) (2,208)
Total cash flows used for investing activities (2,721) (2,208)
CASH FLOWS FROM FINANCING ACTIVITIES    
Purchase of remaining interest in Ryan Re 0 (47,517)
Deferred Offering Costs Paid 0 (4,049)
Receipt of taxes related to net share settlement of equity awards 105 0
Taxes paid related to net share settlement of equity awards (105) 0
Cash distribution to LLC Unitholders (187) (23,246)
Repayment of term debt (4,125) 0
Finance lease and other costs paid (6) (47)
Debt issuance costs paid (1,803) (1,289)
Proceeds from senior secured notes 394,000 0
Net Change In Fiduciary Liabilities (79,148) (62,018)
Total cash flows provided by (used for) financing activities 308,731 (138,166)
Effect of changes in foreign exchange rates on cash, cash equivalents, and cash held in a fiduciary capacity 816 (784)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH HELD IN A FIDUCIARY CAPACITY 241,356 (215,963)
Net changes cash, cash equivalents, and cash held in a fiduciary capacity Beginning balance 1,139,661 895,704
Net changes cash, cash equivalents, and cash held in a fiduciary capacity Ending balance 1,381,017 679,741
Supplemental Cash Flow Information [Abstract]    
Cash held in a fiduciary capacity 674,647 520,565
Total cash, cash equivalents, and cash held in a fiduciary capacity $ 1,381,017 $ 679,741