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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Sep. 15, 2020
Mar. 31, 2021
Cash flows from operating activities              
Net income $ (1,684) $ 127,862 $ 108,369 $ 254,381 $ 56,009 $ 57,693  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation and amortization       3,626 2,767    
Unrealized carried interest allocations and investment income       (329,031) (24,848)    
Unrealized performance fee-related compensation   74,206 78,533 159,778 9,858    
Write-off / amortization of deferred financing costs       0 3,856    
Equity-based compensation       6,956 1,435    
Change in deferred income taxes       (3,700) 41    
Other non-cash activities       1,852 0    
Changes in operating assets and liabilities:              
Fees and accounts receivable       (1,897) (2,365)    
Due from affiliates       (2,357) 4,438    
Other assets and receivables       2,788 3,500    
Accounts payable, accrued expenses and other liabilities       (1,514) 2,796    
Accrued compensation and benefits       31,268 24,633    
Accrued carried interest-related compensation       13,367 (1,841)    
Due to affiliates       (640) 2,583    
Lease right-of-use assets, net and lease liabilities       17 0    
Net cash provided by operating activities       134,894 82,862    
Cash flows from investing activities              
Contributions to investments       (10,927) (5,864)    
Distributions received from investments       3,749 862    
Cash paid for Greenspring acquisition, net of cash acquired       (181,529) 0    
Purchases of property and equipment       (1,321) (745)    
Other investing activities       31 0    
Net cash used in investing activities       (189,997) (5,747)    
Cash flows from financing activities              
Sale of non-controlling interests       0 3,308    
Proceeds from capital contributions from non-controlling interests       42 27    
Proceeds from IPO, net of underwriting discount       0 337,798    
Proceeds from revolving credit facility       185,000 0    
Deferred financing costs       (2,356) 0    
Purchase of non-controlling interests       (3,046) (131,294)    
Payment of deferred offering costs       (1,079) (5,899)    
Principal payments on term loan       0 (147,000)    
Payments on revolving credit facility       (70,000) 0    
Distributions to non-controlling interests       (55,834) (63,597)    
Dividends paid to common stockholders       (5,646) 0    
Other financing activities       (4) (526)    
Net cash provided by (used in) financing activities       47,077 (7,183)    
Effect of foreign currency exchange rate changes       194 (44)    
Net increase (decrease) in cash, cash equivalents and restricted cash       (7,832) 69,888    
Cash, cash equivalents and restricted cash at beginning of period       183,863 89,939 $ 89,939  
Cash, cash equivalents and restricted cash at end of period 159,827 176,031 159,827 176,031 159,827    
Non-cash operating, investing, and financing activities:              
Accrued dividends       354 0    
Deferred tax effect resulting from transactions affecting ownership in the Partnership, net of amounts payable under Tax Receivable Agreements       (37,750) 7,128    
Accrued deferred offering costs       0 3,768    
Establishment of lease liabilities in exchange for lease right-of-use assets       79,478 0    
Class A common stock issued for Greenspring acquisition       558,598 0    
Class C Partnership units issued for Greenspring acquisition       135,239 0    
Reconciliation of cash, cash equivalents and restricted cash:              
Cash and cash equivalents 156,908 175,015 156,908 175,015 156,908   $ 179,886
Restricted cash 2,919 1,016 2,919 1,016 2,919   3,977
Total cash, cash equivalents and restricted cash $ 159,827 $ 176,031 $ 159,827 $ 176,031 $ 159,827   $ 183,863