Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

v3.22.2
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ 88,196 $ 59,606
Adjustments to reconcile net income to cash flows provided by (used for) operating activities:    
Loss (gain) from equity method investment 558 (434)
Amortization 52,896 55,113
Depreciation 2,440 2,422
Prepaid and deferred compensation expense 18,341 23,035
Non-cash equity based compensation 43,028 7,595
Amortization of deferred debt issuance costs 5,984 4,748
Amortization of interest rate cap premium 1,159 0
Deferred income tax benefit (6,866) (40)
Loss on tax receivable agreement 7,173 0
Change (net of acquisitions) in:    
Commissions and fees receivable - net (33,755) (29,089)
Accrued interest liability 7,456 333
Other current assets and accrued liabilities (5,565) (11,932)
Other non-current assets and accrued liabilities (16,334) (3,642)
Total cash flows provided by (used for) operating activities 164,711 107,715
CASH FLOWS FROM INVESTING ACTIVITIES    
Prepaid incentives - repayments 7 3,786
Capital expenditures (6,797) (3,941)
Total cash flows used for investing activities (6,790) (155)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from senior secured notes 394,000 0
Payment of interest rate cap premium (25,500) 0
Repayment of term debt (8,250) (8,250)
Deferred offering costs paid 0 (4,191)
Debt issuance costs paid (2,369) (1,289)
Finance lease and other costs paid (18) (75)
Payment of contingent consideration (6,241) 0
Purchase of remaining interest in Ryan Re 0 (48,368)
Cash distribution to LLC Unitholders (26,222) (47,039)
Receipt of taxes related to net share settlement of equity awards 1,062 0
Taxes paid related to net share settlement of equity awards (1,062) 0
Net Change In Fiduciary Liabilities 54,357 93,671
Total cash flows provided by (used in) financing activities 379,757 (19,421)
Effect of changes in foreign exchange rates on cash, cash equivalents, and cash held in a fiduciary capacity 352 (537)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND CASH HELD IN A FIDUCIARY CAPACITY 538,030 87,602
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 1,677,691 983,306
Supplemental Cash Flow Information [Abstract]    
Cash and cash equivalents 866,669 307,528
Cash held in a fiduciary capacity 811,022 675,778
Total cash, cash equivalents, and cash held in a fiduciary capacity 1,677,691 983,306
IPO [Member]    
CASH FLOWS FROM FINANCING ACTIVITIES    
Equity repurchases from pre-IPO unitholders $ 0 $ (3,880)