WESTWOOD HOLDINGS GROUP INC
For the period ended Sep 30, 2024. Filed Oct 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Oct 30, 2024
WHG$18.55-0.8%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(In thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $112 | $7,988 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation | 464 | 511 |
| Amortization of intangible assets | 3,085 | 3,106 |
| Net change in unrealized (appreciation) depreciation on investments | (917) | (499) |
| Stock-based compensation expense | 4,321 | 5,111 |
| Deferred income taxes | (864) | 652 |
| Non-cash lease expense | 831 | 844 |
| Loss on asset disposition | — | 69 |
| Gain on remeasurement of lease liabilities | — | (119) |
| Fair value change of contingent consideration | 3,682 | (2,655) |
| Gain on insurance settlement | — | (5,000) |
| Change in operating assets and liabilities: | ||
| Net (purchases) sales of trading securities | 6,267 | (15,626) |
| Accounts receivable | (202) | 1,355 |
| Other current assets | (644) | 1,101 |
| Accounts payable and accrued liabilities | (1,192) | (55) |
| Compensation and benefits payable | (1,254) | (1,428) |
| Income taxes payable | (434) | 25 |
| Other liabilities | (1,041) | (1,064) |
| Net cash provided by (used in) operating activities | 12,214 | (5,684) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Acquisition, net of cash acquired | — | (741) |
| Purchase of property and equipment | (34) | (119) |
| Purchase of investments | (1,500) | — |
| Insurance settlement proceeds | — | 5,000 |
| Net cash provided by (used in) investing activities | (1,534) | 4,140 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Purchases of treasury stock | (1,348) | — |
| Restricted stock returned for payment of taxes | (940) | (863) |
| Payment of contingent consideration in acquisition | (1,815) | — |
| Cash dividends paid | (4,209) | (4,274) |
| Net cash used in financing activities | (8,312) | (5,137) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | 2,368 | (6,681) |
| Cash and cash equivalents, beginning of period | 20,422 | 23,859 |
| Cash and cash equivalents, end of period | $22,790 | $17,178 |
| SUPPLEMENTAL CASH FLOW INFORMATION: | ||
| Cash paid during the period for income taxes | $1,817 | $1,024 |
| Accrued dividends | $2,336 | $2,220 |
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