|
Net income (loss)
|
|
$63.7m
|
$60.0m
|
($67.6m)
|
$142.1m
|
$79.5m
|
($29.2m)
|
$36.6m
|
$142.0m
|
|
Depreciation and amortization expense
|
|
$11.7m
|
$10.3m
|
$9.8m
|
$4.0m
|
$3.9m
|
$2.7m
|
$3.3m
|
$4.4m
|
|
Amortization of debt issuance costs
|
|
$1.7m
|
$1.6m
|
$1.3m
|
$1.0m
|
$1.1m
|
$1.1m
|
$902k
|
$776k
|
|
Amortization of terminated swap
|
|
—
|
$0
|
$0
|
$4.6m
|
$4.2m
|
($6.7m)
|
($7.6m)
|
($7.6m)
|
|
Deferred income tax expense
|
|
$0
|
$0
|
$629k
|
$5.7m
|
$5.8m
|
$2.8m
|
$7.8m
|
$4.1m
|
|
Establishment of deferred tax assets, net related to non-cash activities
|
|
—
|
—
|
—
|
—
|
$28k
|
$384k
|
($492k)
|
($768k)
|
|
Loss on extinguishment of debt
|
|
$0
|
$0
|
$1.5m
|
$675k
|
$0
|
$0
|
$157k
|
$0
|
|
Non-cash ROU assets obtained in exchange for new and extended operating leases
|
|
$117.0m
|
$96.2m
|
$68.2m
|
$0
|
$693k
|
$34.1m
|
$9.1m
|
$3.0m
|
|
Non-cash adjustment to operating lease right-of-use assets from lease modification
|
|
$117.0m
|
$96.2m
|
$68.2m
|
$0
|
$0
|
($836k)
|
($790k)
|
($444k)
|
|
Equity-based compensation, equity-classified awards
|
|
$1.8m
|
$4.0m
|
$4.6m
|
$3.3m
|
$1.3m
|
$21.6m
|
$31.4m
|
$40.4m
|
|
Other non-cash compensation
|
|
—
|
—
|
—
|
$3.3m
|
$1.3m
|
$1.2m
|
$558k
|
$448k
|
|
Partnership interest-based compensation
|
|
$19.5m
|
$30.2m
|
$172.4m
|
$27.7m
|
$31.8m
|
$103.9m
|
$72.1m
|
$46.2m
|
|
Change in fair value of warrant liabilities
|
|
—
|
$0
|
$13.3m
|
($7.9m)
|
($20.6m)
|
($1.4m)
|
$16.1m
|
($21.7m)
|
|
Change in payable to related parties pursuant to tax receivable agreement
|
|
—
|
—
|
$0
|
$0
|
($729k)
|
$1.6m
|
$859k
|
($1.8m)
|
|
Proceeds received from investments
|
|
$18.3m
|
$10.3m
|
$8.1m
|
$21.3m
|
$21.8m
|
$10.5m
|
$13.1m
|
$16.8m
|
|
Non-cash investment income
|
|
($17.0m)
|
($7.5m)
|
($10.7m)
|
($52.5m)
|
($10.1m)
|
($11.6m)
|
($15.6m)
|
($16.3m)
|
|
Non-cash lease expense
|
|
—
|
—
|
$0
|
$0
|
$3.9m
|
$6.9m
|
$5.6m
|
$3.8m
|
|
Other
|
|
$539k
|
$526k
|
$94k
|
$462k
|
$87k
|
$513k
|
$519k
|
$97k
|
|
Management fees receivable
|
|
($291k)
|
$5.1m
|
($595k)
|
($7.2m)
|
$2.8m
|
($6.2m)
|
($3.4m)
|
$4.6m
|
|
Incentive fees receivable
|
|
$7.6m
|
($7.2m)
|
($48.7m)
|
($22.2m)
|
$75.1m
|
($10.9m)
|
($31.0m)
|
($15.5m)
|
|
Due from related parties
|
|
($1.2m)
|
($3.5m)
|
($1.1m)
|
($451k)
|
($1.3m)
|
($462k)
|
$900k
|
($1.9m)
|
|
Other assets
|
|
$2.0m
|
($5.9m)
|
($16.6m)
|
$23.0m
|
($1.1m)
|
$2.3m
|
($3.5m)
|
($7.5m)
|
|
Accrued compensation and employee related obligations
|
|
—
|
—
|
—
|
$24.5m
|
($40.2m)
|
$8.2m
|
$13.2m
|
($6.4m)
|
|
Lease liabilities
|
|
—
|
—
|
$0
|
$0
|
($5.5m)
|
($7.0m)
|
$4.2m
|
($4.8m)
|
|
Accrued expenses and other liabilities
|
|
$2.2m
|
$101k
|
($2.6m)
|
($31.8m)
|
($1.0m)
|
$2.2m
|
$2.7m
|
$3.4m
|
|
Purchases of premises and equipment
|
|
($868k)
|
($4.0m)
|
($1.3m)
|
($577k)
|
($782k)
|
($3.8m)
|
($16.7m)
|
($8.5m)
|
|
Contributions/subscriptions to investments
|
|
($23.2m)
|
($21.5m)
|
($23.9m)
|
($40.3m)
|
($29.4m)
|
($27.6m)
|
($26.2m)
|
($34.7m)
|
|
Distributions from investments
|
|
$32.0m
|
$31.6m
|
$19.7m
|
$11.5m
|
$20.1m
|
$12.6m
|
$11.1m
|
$16.7m
|
|
Capital distributions paid to partners and member
|
|
($82.2m)
|
($69.6m)
|
($153.7m)
|
($77.9m)
|
($118.3m)
|
($58.3m)
|
($69.6m)
|
($82.2m)
|
|
Proceeds from senior loan issuance
|
|
—
|
$0
|
$0
|
$110.0m
|
$0
|
$0
|
$50.0m
|
$0
|
|
Principal payments on senior loan
|
|
($27.4m)
|
($7.3m)
|
($91.2m)
|
($53.3m)
|
($4.0m)
|
($4.0m)
|
($3.2m)
|
($4.4m)
|
|
Proceeds from exercise of warrants
|
|
$0
|
$0
|
$6.7m
|
$24.5m
|
$0
|
$0
|
$0
|
$119.7m
|
|
Settlement of equity-based compensation in satisfaction of withholding tax requirements
|
|
—
|
$0
|
$0
|
($6.9m)
|
($6.4m)
|
($10.2m)
|
($12.7m)
|
($16.2m)
|
|
Proceeds from Share Purchase Agreement, net
|
|
—
|
—
|
—
|
—
|
—
|
$0
|
$0
|
$49.8m
|
|
Payments to related parties, pursuant to tax receivable agreement
|
|
—
|
—
|
$0
|
$0
|
($3.3m)
|
($3.2m)
|
($3.2m)
|
($3.8m)
|
|
Beginning of year
|
|
$68.1m
|
$79.9m
|
$198.1m
|
$96.2m
|
$85.2m
|
$44.4m
|
$89.5m
|
$242.1m
|
|
Non-cash premises and equipment additions in accrued expenses and other liabilities
|
|
—
|
—
|
—
|
$0
|
$0
|
$693k
|
$781k
|
$1.8m
|
|
Deemed contributions from GCMH Equityholders
|
|
$19.5m
|
$30.2m
|
$172.4m
|
$27.7m
|
$31.8m
|
$103.9m
|
$72.1m
|
$46.2m
|
|
Non-cash change in payable to related parties pursuant to tax receivable agreement
|
|
—
|
—
|
—
|
—
|
—
|
$1.6m
|
$859k
|
$7.0m
|
|
Net cash provided by operating activities
|
|
$117.0m
|
$96.2m
|
$68.2m
|
$178.8m
|
$216.5m
|
$92.1m
|
$148.8m
|
$183.5m
|
|
Net cash used in investing activities
|
|
$8.0m
|
$6.1m
|
($5.5m)
|
($28.1m)
|
($10.1m)
|
($18.8m)
|
($31.8m)
|
($26.5m)
|
|
Debt issuance costs
|
|
($1.3m)
|
$0
|
$0
|
($3.1m)
|
$0
|
$0
|
($556k)
|
$0
|
|
Payments to repurchase Class A common stock
|
|
—
|
$0
|
$0
|
($887k)
|
($26.4m)
|
($4.5m)
|
$0
|
($30.7m)
|
|
Capital contributions received from noncontrolling interest
|
|
$6.4m
|
$4.7m
|
$177.8m
|
$3.5m
|
$1.8m
|
$2.3m
|
$1.9m
|
$3.2m
|
|
Capital distributions paid to the noncontrolling interest
|
|
($49.2m)
|
($43.7m)
|
($39.8m)
|
($81.2m)
|
($37.4m)
|
($15.4m)
|
($12.4m)
|
($14.9m)
|
|
Dividends paid
|
|
—
|
$0
|
$0
|
($14.5m)
|
($18.4m)
|
($20.3m)
|
($20.5m)
|
($25.3m)
|
|
Net cash used in financing activities
|
|
($153.8m)
|
($90.9m)
|
$54.8m
|
($251.3m)
|
($215.1m)
|
($113.7m)
|
($70.4m)
|
($4.9m)
|
|
Effect of exchange rate changes on cash
|
|
($182k)
|
$314k
|
$884k
|
($1.4m)
|
($2.4m)
|
($372k)
|
($1.5m)
|
$492k
|
|
Net increase (decrease) in cash and cash equivalents
|
|
($29.0m)
|
$11.8m
|
$118.3m
|
($102.0m)
|
($11.0m)
|
($40.8m)
|
$45.1m
|
$152.7m
|
|
Cash paid during the year for interest
|
|
$23.6m
|
$22.7m
|
$21.5m
|
$13.8m
|
$18.4m
|
$30.0m
|
$32.3m
|
$28.6m
|
|
Cash paid during the year for income taxes, net
|
|
$1.4m
|
$1.7m
|
$3.2m
|
$4.4m
|
$8.5m
|
$3.4m
|
$5.0m
|
$6.5m
|