GCM Grosvenor Inc
For the period ended Dec 31, 2024. Filed Feb 21, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 21, 2025
GCMG$13.92+3.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Cash flows from operating activities | |||
| Net income (loss) | $36,604 | $(29,206) | $79,482 |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
| Depreciation and amortization expense | 3,320 | 2,696 | 3,856 |
| Equity-based compensation, equity-classified awards | 31,366 | 21,606 | 25,424 |
| Deferred income tax expense | 7,761 | 2,826 | 5,843 |
| Other non-cash compensation | 558 | 1,157 | 1,336 |
| Partnership interest-based compensation | 72,068 | 103,934 | 31,811 |
| Amortization of debt issuance costs | 902 | 1,100 | 1,111 |
| Amortization of terminated swap | (7,604) | (6,703) | 4,171 |
| Proceeds received for terminated interest rate derivatives | — | — | 40,344 |
| Loss on extinguishment of debt | 157 | — | — |
| Change in fair value of warrants liabilities | 16,079 | (1,429) | (20,551) |
| Change in payable to related parties pursuant to tax receivable agreement | 859 | 1,583 | (729) |
| Proceeds received from investments | 13,089 | 10,485 | 21,771 |
| Non-cash investment income | (15,589) | (11,640) | (10,108) |
| Non-cash lease expense | 5,589 | 6,911 | 3,856 |
| Other | 519 | 513 | 87 |
| Change in assets and liabilities: | |||
| Management fees receivable | (3,438) | (6,207) | 2,803 |
| Incentive fees receivable | (30,975) | (10,893) | 75,123 |
| Due from related parties | 900 | (462) | (1,342) |
| Other assets | (3,500) | 2,344 | (1,061) |
| Accrued compensation and employee related obligations | 13,170 | 8,222 | (40,202) |
| Lease liabilities | 4,221 | (7,022) | (5,512) |
| Accrued expenses and other liabilities | 2,718 | 2,250 | (1,000) |
| Net cash provided by operating activities | 148,774 | 92,065 | 216,513 |
| Cash flows from investing activities | |||
| Purchases of premises and equipment | (16,729) | (3,763) | (782) |
| Contributions/subscriptions to investments | (26,241) | (27,635) | (29,436) |
| Distributions from investments | 11,136 | 12,558 | 20,145 |
| Net cash used in investing activities | (31,834) | (18,840) | (10,073) |
| Cash flows from financing activities | |||
| Capital contributions received from noncontrolling interest | 1,869 | 2,255 | 1,789 |
| Capital distributions paid to partners and member | (69,627) | (58,278) | (118,349) |
| Capital distributions paid to the noncontrolling interest | (12,389) | (15,431) | (37,399) |
| Proceeds from senior loan issuance | 50,000 | — | — |
| Principal payments on senior loan | (3,190) | (4,000) | (4,000) |
| Debt issuance costs | (556) | — | — |
| Payments to repurchase Class A common stock | — | (4,478) | (26,391) |
| Payments to repurchase warrants | — | — | (2,569) |
| Settlement of equity-based compensation in satisfaction of withholding tax requirements | (12,747) | (10,219) | (6,445) |
| Dividends paid | (20,549) | (20,321) | (18,432) |
| Payments to related parties, pursuant to tax receivable agreement | (3,189) | (3,190) | (3,271) |
| Net cash used in financing activities | (70,378) | (113,662) | (215,067) |
| Effect of exchange rate changes on cash | (1,462) | (372) | (2,395) |
| Net increase (decrease) in cash and cash equivalents | $45,100 | $(40,809) | $(11,022) |
| Cash and cash equivalents | |||
| Beginning of year | 44,354 | 85,163 | 96,185 |
| End of year | $89,454 | $44,354 | $85,163 |
Consolidated Statements of Cash Flows — (Continued)
| Supplemental disclosure of cash flow information | |||
|---|---|---|---|
| Cash paid during the year for interest | $32,266 | $30,025 | $18,411 |
| Cash paid during the year for income taxes, net | $5,016 | $3,446 | $8,543 |
| Supplemental disclosure of cash flow information from operating activities | |||
| Non-cash right-of-use assets obtained in exchange for new and amended operating leases | $9,075 | $34,116 | $693 |
| Non-cash adjustment to operating lease right-of-use assets from lease modification | $(790) | $(836) | $— |
| Supplemental disclosure of cash flow information from investing activities | |||
| Non-cash premises and equipment additions in accrued expenses and other liabilities | $781 | $693 | $— |
| Supplemental disclosure of non-cash information from financing activities | |||
| Deemed contributions from GCMH Equityholders | $72,068 | $103,934 | $31,811 |
| Establishment of deferred tax assets, net related to non-cash activities | $(492) | $384 | $28 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.