Manning & Napier, 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

	FY2021 12 months to Dec 31, 2021	FY2020 12 months to Dec 31, 2020	FY2019 12 months to Dec 31, 2019	FY2018 12 months to Dec 31, 2018	FY2017 12 months to Dec 31, 2017
Cash flows from operating activities:
Net income attributable to controlling and noncontrolling interests
Adjustments to reconcile net income to net cash provided by operating activities:
Equity-based compensation
Depreciation and amortization
Change in amounts payable under tax receivable agreement
Change in contingent consideration liability
Impairment losses
Impairment of long-lived assets
Gain on sale of intangible assets
Gain on sale of business
Net (gains) losses on investment securities
Deferred income taxes
Amortization of debt issuance costs

(Increase) decrease in operating assets and increase (decrease) in operating liabilities:
Accounts receivable
Accounts receivable—affiliated mutual funds
Due from broker - consolidated funds
Investment securities - consolidated funds
Prepaid expenses and other assets
Other long-term assets
Accounts payable
Accrued expenses and other liabilities
Deferred revenue
Other long-term liabilities

Net cash provided by operating activities
Cash flows from investing activities:
Purchase of property and equipment
Sale of investments
Purchase of investments
Due from broker
Sale of intangible assets
Acquisitions, net of cash received
Proceeds from sale of business, net
Proceeds from maturity of investments
Net cash (used in) provided by investing activities

Cash flows from financing activities:
Distributions to noncontrolling interests
Dividends paid on Class A common stock
Payment of shares withheld to satisfy withholding requirements
Payment of debt issuance costs
Purchases of treasury stock
Payment of capital lease obligations
Payment of issuing common stock costs
Purchase of Class A units of Manning & Napier Group, LLC
Net cash used in financing activities

Net decrease in cash and cash equivalents
Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents:
Beginning of period
End of period
Supplemental disclosures:
Cash paid during the period for taxes, net of refunds
Cash paid during the period for interest
Cash payments during the period for taxes, net of refunds

Non-cash investing and financing activities:
Capital expenditures in accounts payable and accruals
Equipment acquired through capital lease obligation
Accrued dividends

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