Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

v3.6.0.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Cash flows from operating activities      
Net income $ 14,756 $ 8,034 $ 9,770
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 7,658 3,950 2,631
Equity-based compensation 10,054 10,641 5,187
Equity method investments 781 98  
Gain on sale of financing receivables and investments (12,927) (6,993) (6,796)
Changes in financing receivables held-for-sale 46,204 11,002 25
Changes in accounts payable and accrued expenses 3,312 (1,029) (3,201)
Other (12,983) (7,184) (2,493)
Net cash provided by operating activities 56,855 18,519 5,123
Cash flows from investing activities      
Purchases of financing receivables (300,511) (289,906) (227,075)
Principal collections from financing receivables 116,432 70,093 67,815
Proceeds from sales of financing receivables 39,978 92,456 30,433
Purchases of investments (31,335) (33,648) (7,753)
Principal collections from investments 1,768 8,919 1,784
Proceeds from sales of investments 13,914 21,995 75,179
Acquisition of businesses, net of cash     (125,925)
Purchases of real estate (17,693) (42,913) (27,624)
Equity method investments, net (60,774) (200,271) (144,770)
Equity method distributions received 48,870 25,307 867
Other (1,280) (1,078) (134)
Net cash used in investing activities (190,631) (349,046) (357,203)
Cash flows from financing activities      
Proceeds from credit facilities 307,900 308,086 310,501
Principal payments on credit facilities (271,968) (376,455) (72,100)
Proceeds from nonrecourse debt 97,660 405,765 115,316
Principal payments on nonrecourse debt (69,097) (46,602) (55,570)
Payments on deferred funding obligations (65,741) (82,838) (67,354)
Net proceeds of common stock issuances 177,294 180,486 129,351
Payments of dividends and distributions (49,481) (31,591) (13,864)
Other (12,863) (17,250) (5,769)
Net cash provided by financing activities 113,704 339,601 340,511
(Decrease) increase in cash, cash equivalents, and restricted cash (20,072) 9,074 (11,569)
Cash, cash equivalents, and restricted cash at beginning of period 79,216 70,142 81,711
Cash, cash equivalents, and restricted cash at end of period 59,144 79,216 70,142
Interest paid 37,858 24,111 13,213
Non-cash changes in deferred funding obligations 127,630 103,049 80,852
Non-cash changes in financing receivables and investments $ (142,551) $ (85,457) $ (33,949)