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Note 23 - Supplemental Cash Flow Disclosure

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Cash Flow, Supplemental Disclosures [Text Block]

23. SUPPLEMENTAL CASH FLOW DISCLOSURE

Cash flows from investments (including derivatives) classified as investments-trading or trading securities sold, not yet purchased, are presented on a net basis as a component of cash flows from operations. Cash flows from investments (including derivatives) classified as other investments, at fair value or other investments sold, not yet purchased, are presented on a gross basis as a component of cash flows from investing.

Interest paid by the Company on its debt and redeemable financial instruments was $3,164 and $2,723 for the six months ended June 30, 2024 and 2023, respectively.

The Company paid income taxes of $41 and $482 for the six months ended June 30, 2024 and 2023, respectively. The Company received no income tax refunds for the six months ended June 30, 2024 and 2023.

For the six months ended June 30, 2024, the Company had the following significant non-cash transactions that are not reflected on the statement of cash flows:

	●	The Company net received units of membership interest in the Operating LLC. The Company recognized a net increase in additional paid-in capital of $645, a net decrease in AOCI of $14, and a decrease in non-controlling interest of $631. See note 17.
	●	The Company recorded a decrease in equity method affiliates of $7,389 and an increase in other investments, at fair value of $7,389, resulting from an in-kind distribution from equity method affiliates.

For the six months ended June 30, 2023, the Company had the following significant non-cash transactions that are not reflected on the statement of cash flows:

	●	In conjunction with the consolidation of the SPAC Fund, the Company recorded an increase in receivables from brokers, dealers, and clearing agencies of $68,066, an increase in other investments, at fair value of $40,388, an increase in other assets of $63, an increase in accounts payable of $82,711, and an increase in other investments sold, not yet purchased of $25,806. See note 4.
	●	The Company net received units of membership interest in the Operating LLC. The Company recognized a net increase in additional paid-in capital of $612, a net decrease in AOCI of $13, and a decrease in non-controlling interest of $599. See note 17.
	●	The Company recorded a decrease in equity method affiliates of $362 and an increase in other investments, at fair value of $362 resulting from an in-kind distribution from equity method affiliates.