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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Operating activities:    
Net income $ 25,497 $ 32,404
Adjustments to reconcile net income to net cash (used in) provided by operating activities:    
Income from discontinued operations, net of taxes (339) (3,111)
Loss on disposal of discontinued operations, net of taxes 0 2,500
Equity in net loss (income) of limited liability investments 41 (275)
Depreciation and amortization expense 4,466 4,443
Stock-based compensation expense 953 3,604
Net realized gains (539) (1,035)
(Gain) loss on change in fair value of equity investments (3,374) 53
Gain on change in fair value of limited liability investments, at fair value (194) (368)
Net change in unrealized gain on private company investments (63) 0
Gain on change in fair value of real estate investments 0 (1,488)
Loss on change in fair value of debt 195 4,992
Loss (gain) on change in fair value of derivatives 1,565 (13,854)
Loss on change in fair value of contingent consideration 65 1,519
Deferred income taxes (100) 2,697
Impairment losses 166 (0)
Amortization of fixed maturities premiums and discounts 20 197
Gain on disposal of subsidiary (342) (37,917)
Gain on extinguishment of debt (31,616) 0
Changes in operating assets and liabilities:    
Service fee receivable, net 1,203 (563)
Other receivables, net 2,084 2,036
Deferred contract costs (635) (2,135)
Other assets 871 (2,172)
Deferred service fees (399) (4,789)
Other, net (9,085) 18,112
Cash (used in) provided by operating activities - continuing operations (9,560) 4,850
Cash provided by operating activities - discontinued operations 426 4,493
Net cash (used in) provided by operating activities (9,134) 9,343
Investing activities:    
Proceeds from sales and maturities of fixed maturities 6,416 6,792
Proceeds from sales of equity investments 3,321 0
Purchases of fixed maturities (4,612) (10,630)
Net proceeds from limited liability investments 180 1,531
Net proceeds from limited liability investments, at fair value 14,061 461
Net proceeds from investments in private companies 27 245
Net proceeds from other investments and short-term investments 16 52
Net proceeds from disposal of subsidiary 147 35,158
Acquisition of business, net of cash acquired (2,766) (83)
Net purchases of property and equipment (80) 43
Cash provided by investing activities - continuing operations 16,710 33,569
Cash used in investing activities - discontinued operations (11) 0
Net cash provided by investing activities 16,699 33,569
Financing activities:    
Proceeds from exercise of warrants 16,658 40
Cash paid for repurchase of warrants (4,031) 0
Cash paid for repurchase of common stock (802) 0
Distributions to noncontrolling interest holders (4,008) (991)
Taxes paid related to net share settlements of restricted stock awards (384) (297)
Principal payments on bank loans (6,052) (5,028)
Purchase of subordinated debt (56,452) 0
Payment of debt issuance costs (25) 0
Principal payments on notes payable 0 (371)
Cash used in financing activities - continuing operations (55,096) (6,647)
Cash used in financing activities - discontinued operations (431) (4,359)
Net cash used in financing activities (55,527) (11,006)
Net (decrease) increase in cash and cash equivalents and restricted cash from continuing operations (47,946) 31,772
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 $ 29,286 $ 59,113