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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 15,455 $ 48,197
Adjustments to reconcile net income to net cash provided by operating activities:    
Advisory fees received in gold and other precious metals (36,306) (21,998)
Contractual gold payments (Note 11) 9,710 5,595
Stock-based compensation 8,581 10,078
Loss/(gain) on revaluation of deferred consideration – gold payments (Note 11) [1] 5,939 (17,630)
Amortization of right of use asset 2,379  
Amortization of credit facility issuance costs 2,159 1,360
Paid-in-kind interest income (Note 8) (1,856) (1,373)
Deferred income taxes 1,383 (1,251)
Depreciation and amortization 792 998
Impairment (Note 14) 572  
Other (330) 810
Changes in operating assets and liabilities:    
Securities owned, at fair value 5,497 (2,735)
Accounts receivable 2,358 3,771
Income taxes receivable/payable 4,350 7,654
Prepaid expenses (888) (621)
Gold and other precious metals 25,751 18,472
Other assets (571) 954
Fund management and administration payable (366) 1,998
Compensation and benefits payable 1,476 (21,025)
Securities sold, but not yet purchased, at fair value (1,130) 1,068
Operating lease liabilities (2,662)  
Accounts payable and other liabilities 788 (4,122)
Net cash provided by operating activities 43,081 30,200
Cash flows from investing activities:    
Purchase of fixed assets (25) (45)
Funding of notes receivable (Note 8) (1,790) (8,000)
Proceeds from held-to-maturity securities maturing or called prior to maturity 2,313 1,096
Proceeds from sales and maturities of debt securities available-for-sale   64,498
Cash paid for acquisition, net of cash acquired (Note 3)   (239,313)
Net cash provided by/(used in) investing activities 498 (181,764)
Cash flows from financing activities:    
Dividends paid (15,286) (14,202)
Repayment of long-term debt (15,000)  
Shares repurchased (2,187) (1,430)
Credit facility issuance costs   (8,690)
Preferred stock issuance costs   (181)
Proceeds from the issuance of long-term debt (Note 12)   200,000
Proceeds from exercise of stock options 70 157
Net cash (used in)/provided by financing activities (32,403) 175,654
Decrease in cash flow due to changes in foreign exchange rate (385) (1,158)
Net increase in cash and cash equivalents 10,791 22,932
Cash and cash equivalents—beginning of period 77,784 54,193
Cash and cash equivalents—end of period 88,575 77,125
Supplemental disclosure of cash flow information:    
Cash paid for taxes 5,439 8,759
Cash paid for interest $ 6,997 $ 3,351
[1] Gains/(losses) arise due to (decreases)/increases in the forward-looking price of gold and the magnitude of any gain or loss is highly correlated to the magnitude of the change in the forward-looking price of gold. See Note 5 for a reconciliation of changes in the deferred consideration balances.