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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Operating activities:    
Net income (loss) $ 27,839 $ (2,504)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:    
Income from discontinued operations, net of taxes (107) (1,495)
Equity in net loss (income) of limited liability investments 34 (235)
Depreciation and amortization expense 1,492 1,506
Stock-based compensation expense 283 378
Net realized gains (210) (54)
(Gain) loss on change in fair value of equity investments (1,075) 10
Loss (gain) on change in fair value of limited liability investments, at fair value 130 (127)
Gain (loss) on change in fair value of debt (309) 1,868
Loss (gain) on change in fair value of derivatives 1,446 (196)
Loss on change in fair value of contingent consideration 0 309
Deferred income taxes 84 (505)
Amortization of fixed maturities premiums and discounts 14 74
Gain on extinguishment of debt (31,616) 0
Changes in operating assets and liabilities:    
Service fee receivable, net (249) (2,057)
Other receivables, net 711 597
Deferred contract costs (227) (1,025)
Other assets 465 47
Deferred service fees (346) 660
Other, net (5,072) 5,118
Cash (used in) provided by operating activities - continuing operations (6,713) 2,369
Cash provided by operating activities - discontinued operations 50 1,472
Net cash (used in) provided by operating activities (6,663) 3,841
Investing activities:    
Proceeds from sales and maturities of fixed maturities 2,316 2,566
Purchases of fixed maturities (1,471) (3,296)
Net proceeds from limited liability investments 98 648
Net proceeds from limited liability investments, at fair value 5,306 47
Net proceeds from investments in private companies 0 26
Net proceeds from other investments and short-term investments 7 17
Acquisition of business, net of cash acquired 0 (83)
Net purchases of property and equipment (5) (112)
Cash provided by (used in) investing activities - continuing operations 6,251 (187)
Cash provided by investing activities - discontinued operations 0 0
Net cash provided by (used in) investing activities 6,251 (187)
Financing activities:    
Proceeds from exercise of warrants 6,294 0
Distributions to noncontrolling interest holders (3,584) (453)
Principal payments on bank loans (3,251) (1,849)
Purchase of subordinated debt (56,452) 0
Payment of debt issuance costs (25) 0
Principal payments on notes payable 0 (122)
Cash used in financing activities - continuing operations (57,018) (2,424)
Cash used in financing activities - discontinued operations (126) (1,394)
Net cash used in financing activities (57,144) (3,818)
Net decrease in cash and cash equivalents and restricted cash from continuing operations (57,480) (242)
Cash and cash equivalents and restricted cash at beginning of period 77,802 29,899
Less: cash and cash equivalents and restricted cash of discontinued operations 570 2,558
Cash and cash equivalents and restricted cash of continuing operations at beginning of period 77,232 27,341
Cash and cash equivalents and restricted cash of continuing operations at end of period $ 19,752 $ 27,099