v3.25.4
Note 30 - Supplemental Cash Flow Disclosure
12 Months Ended
Dec. 31, 2025
Notes to Financial Statements  
Cash Flow, Supplemental Disclosures [Text Block]

30. 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 $5,499, $6,014, and $5,607 for the years ended December 31, 2025, 2024, and 2023, respectively.    

 

In 2025, 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 $590, a net decrease in AOCI of $14, and a decrease in non-controlling interest of  $576.  See note 21.
 The Company recorded a decrease in equity method affiliates of $1,886 and an increase in other investments, at fair value of $1,886 resulting from an in-kind distribution from equity method affiliates.
 The Company recorded a decrease of $505 in other investments, at fair value and a decrease of $505 in other investment sold, not yet purchased due to payment of shares to a former SPAC sponsor entity.  
 The Company recorded an increase in accounts payable and other liabilities of $3,195 and a decrease in non-controlling interest of $1,818 and an increase in accumulated deficit of $1,377 for accumulated dividends owed on unvested restricted stock and units.  See note 22.  
 The Company recorded a decrease of $24,791 in other investments, at fair value resulting from an in-kind distribution to the non-convertible controlling interests.
 The Company recorded a decrease in other receivables of $19, a decrease in due from broker of $1,120, a decrease in other investments, at fair value of $1,299, a decrease of other investments sold, not yet purchased, at fair value of $344, and a decrease in non-controlling interest of $1,691 resulting from the sale of the Company's interest in Vellar GP.

 

In 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 $679, a net decrease in AOCI of $15, and a decrease in non-controlling interest of  $664.  See note 21.

 

• 

The Company recorded a net decrease in investments in equity method affiliates of $14,586, a net increase in other investments, at fair value of $14,586, and an increase of $2,861 in other investments, sold not purchased resulting from an in-kind distribution from an equity method affiliate.

 • In connection with the Redemption Agreement, the Company recorded a reduction in the redeemable financial instrument of $5,146 and a corresponding increase of $5,146 in debt resulting from the issuance of the 2024 Note.

  

In 2023, the Company had the following significant non-cash transactions that are not reflected on the statement of cash flows:

 

 

The Company net surrendered units of membership interests in the Operating LLC.  The Company recognized a net increase in additional paid-in capital of $636, a net decrease of $14 in AOCI, and a decrease of $622 in non-controlling interest.  See note 21.

 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 recorded a net decrease in investments in equity method affiliates of $10,102 and a net increase in other investments, at fair value of $10,102 resulting from an in-kind distribution from an equity method affiliate.
 In connection with several SFA transactions, the Company received equity shares in a public company, recorded a net increase of $58,286 in other investments, at fair value, and a corresponding increase in other investments, sold not yet purchased of $58,286.