LADENBURG THALMANN FINANCIAL SERVICES INC. Cashflow Statement

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Financial Statements

Income Statement Balance Sheet Cashflow Statement

Consolidated statements of cash flows

In millions of USD, except per-share amounts

	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018	FY2017 12 months to Dec 31, 2017	FY2016 12 months to Dec 31, 2016	FY2015 12 months to Dec 31, 2015
Cash flows from operating activities:
Net income
Acquisition of SSN:
Total net income

Adjustments to reconcile net income to
Change in fair value of contingent consideration
Adjustment to deferred rent
Amortization of right-of-use assets
Amortization of intangible assets
Write-off on intangible asset
Depreciation and other amortization
Loss on extinguishment of debt
Amortization of debt discount
Amortization of debt issue cost
Amortization of retention and forgivable loans
Amortization of contract acquisition costs
Deferred income taxes
Benefit attributable to reduction of goodwill
Non-cash interest expense on forgivable loan
Gain on forgiveness of accrued interest under forgivable loans
Gain on forgiveness of principal of note payable under forgivable loans
Non-cash compensation expense
Loss on write-off of receivable from subtenant
Loss on write-off of furniture, fixtures and leasehold improvements, net
(Increase) decrease in operating assets:
Securities owned, at fair value
Receivables from clearing brokers
Receivables from other broker-dealers
Other receivables, net
Insurance Trailing Commissions Receivable
Contract acquisition costs, net
Notes receivable from financial advisors, net
Cash surrender value of life insurance
Income taxes receivable
Other assets
Increase (decrease) in operating liabilities:
Securities sold, but not yet purchased, at fair value
Accrued compensation
Accrued interest
Commissions and fees payable
Deferred compensation liability
Lease liability
Accounts payable and accrued liabilities

Net cash provided by operating activities
Acquisition of Kestler Financial Group, net of cash received
Kestler Financial Group, Inc
Foothill Securities, Inc.
Kestler Financial Group
Four Seasons Financial Group
Acquisition of Wall Street Financial Group
Acquisition of Sunset
Acquisition of Highland
Acquisition of KMS
Acquisition of SSN:
Acquisition of Dalton:
Acquisition of Select:
Total acquisition of Kestler Financial Group, net of cash received

Non-cash financing activities:
Issuance of 7.25% notes for repurchase of common stock
Cancellation of promissory notes as consideration for exercise price of warrants
Acquisition of Four Seasons Financial Group, net of cash received
Acquisition of KMS, net of cash received
Other business acquisitions
Purchases of fixed assets
Decrease (increase) in restricted assets
Purchase of intangible assets
Net proceeds from sale of equipment/disposal
Net cash used in investing activities

Cash flows from financing activities:
Issuance of Series A preferred stock
Issuance of common stock
Series A preferred stock dividends paid
Common stock dividends paid
Repurchases and retirement of common stock
Repurchase of stock option award for cash
Additional issuance costs related to SSN notes
Issuance of senior notes
Borrowings on term loan
Principal repayments on notes payable
Principal repayments under a revolving credit facility, net
Bank loan and revolver repayments
Third party investment in subsidiary
Net cash provided (used in) by financing activities
Net increase (decrease) in cash and cash equivalents
Net increase in cash and cash equivalents
Cash and cash equivalents including restricted cash, beginning of period
Cash and cash equivalents including restricted cash, end of period
Supplemental cash flow information:
Interest paid
Taxes paid
Assets acquired
Foothill Securities, Inc.
Kestler Financial Group
Four Seasons Financial Group
Acquisition of Wall Street Financial Group
Acquisition of Sunset
Acquisition of Highland
Acquisition of KMS
Acquisition of SSN:
Acquisition of Dalton:
Acquisition of Select:

Liabilities assumed
Foothill Securities, Inc.
Kestler Financial Group
Four Seasons Financial Group
Acquisition of Wall Street Financial Group
Acquisition of Sunset
Acquisition of Highland
Acquisition of KMS
Acquisition of SSN:

Net assets acquired
Kestler Financial Group
Four Seasons Financial Group
Acquisition of Sunset
Acquisition of Highland
Acquisition of KMS
Acquisition of SSN:

Payable to seller
Acquisition of Sunset
Acquisition of SSN:
Acquisition of Dalton:
Acquisition of Select:

Stock issued in acquisition
Promissory note
Acquisition of KMS
Acquisition of SSN:

Cash acquired in acquisition
Acquisition of Highland
Acquisition of KMS
Acquisition of SSN:

Promissory note
Kestler Financial Group
Four Seasons Financial Group
Cash and cash equivalents
Restricted cash

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