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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss $ (47,954) $ 16,560
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 11,137 13,077
Provision for credit losses 436 3,173
Share-based compensation 8,682 13,746
Fair value and remeasurement adjustments, non-cash 13,651 (46,050)
Non-cash interest and other (2,661) (1,141)
Depreciation of rental merchandise 4,202 0
Effect of foreign currency on operations 271 271
Loss from equity investments 4 10
Dividends from equity investments 37 129
Deferred income taxes (16,012) 5,807
(Gain) loss on sale of business and disposal of fixed assets (203) 5
Income allocated and fair value adjustment for mandatorily redeemable noncontrolling interests 293 308
Change in operating assets and liabilities:    
Amounts due to/from clearing brokers 10,460 16,318
Securities and other investments owned 192,639 95,037
Securities borrowed 820,860 (599,516)
Accounts receivable (8,739) 25,083
Prepaid expenses and other assets (6,761) (25,705)
Accounts payable, accrued payroll and related expenses, accrued expenses and other liabilities (21,114) (67,536)
Amounts due to/from related parties and partners (888) (1,070)
Securities sold, not yet purchased (2,178) 1,909
Deferred revenue (2,668) (1,749)
Securities loaned (818,137) 603,951
Net cash provided by operating activities 135,357 52,617
Cash flows from investing activities:    
Purchases of loans receivable (42,903) (311,970)
Repayments of loans receivable 39,493 260,587
Sale of loans receivable 22,785 7,500
Acquisition of businesses and minority interest, net of $234 cash acquired for 2023 0 (12,287)
Sale of business, net of cash sold and other (184) 1,364
Purchases of property, equipment and intangible assets (913) (1,696)
Purchase of equity and other investments 0 (662)
Net cash provided by (used in) investing activities 18,278 (57,164)
Cash flows from financing activities:    
Proceeds from revolving line of credit 17,738 29,021
Repayment of revolving line of credit (39,343) (17,237)
Repayment of notes payable and other (5,361) (11,510)
Repayment of term loan (30,036) (72,924)
Proceeds from term loan 0 128,187
Redemption of senior notes (115,492) 0
Payment of debt issuance and offering costs (191) (1,957)
Payment of contingent consideration (70) (1,302)
Payment of employment taxes on vesting of restricted stock (1,170) (4,819)
Common dividends paid (16,014) (46,856)
Preferred dividends paid (2,015) (2,012)
Repurchase of common stock 0 (53,803)
Distribution to noncontrolling interests (1,481) (1,023)
Contributions from noncontrolling interests 2,502 431
Proceeds from issuance of preferred stock 0 467
Net cash used in financing activities (190,933) (55,337)
Decrease in cash, cash equivalents and restricted cash (37,298) (59,884)
Effect of foreign currency on cash, cash equivalents and restricted cash (3,962) 1,280
Net decrease in cash, cash equivalents and restricted cash (41,260) (58,604)
Cash, cash equivalents and restricted cash, beginning of period 233,839 270,926
Cash, cash equivalents and restricted cash, end of period 192,579 212,322
Supplemental disclosures:    
Interest paid 81,737 81,423
Taxes paid $ 1,432 $ 2,932