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Pzena Investment Management Inc (PZN)

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[[ session ]] by (Cboe BZX)

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Cash Flow for [[ item.sessionDateDisplayLong ]]

Fiscal Year End Date: 12/31

(Values in U.S. thousands)

	12-2008	09-2008	06-2008	03-2008	12-2007
Cash Flows From Operating Activities
Net Income	32,398	23,790	24,143	12,397	-19,911
Depreciation Amortization	501	368	233	115	368
Income taxes - deferred	64,592	64,229	1,064	547	196
Accounts receivable	12,682	5,686	5,743	4,627	-231
Accounts payable and accrued liabilities	-4,054	1,199	-645	-3,975	1,327
Other Working Capital	116	1,641	-749	-6,898	15,553
Other Operating Activity	-41,404	-48,222	2,555	3,412	83,639
Operating Cash Flow	$64,831	$48,691	$32,344	$10,225	$80,941

Cash Flows From Investing Activities
PPE Investments	-86	-160	-82	-50	-1,656
Other Investing Activity	3	-55	31	-67	251
Investing Cash Flow	$-83	$-215	$-51	$-117	$-1,405

Cash Flows From Financing Activities
Debt Issued	16,000	N/A	N/A	N/A	60,000
Debt Repayment	-38,000	-13,000	-3,000	N/A	N/A
Common Stock Issued	7,254	7,082	6,933	6,833	114,606
Dividend Paid	-49,765	-37,982	-26,203	-8,125	-150,904
Other Financing Activity	0	0	0	0	-98,914
Financing Cash Flow	$-64,511	$-43,900	$-22,270	$-1,292	$-75,212

Beginning Cash Position	27,184	27,184	27,184	27,184	30,920
End Cash Position	27,421	31,760	37,207	36,000	27,184
Net Cash Flow	$237	$4,576	$10,023	$8,816	$-3,736

Free Cash Flow
Operating Cash Flow	64,831	48,691	32,344	10,225	80,941
Capital Expenditure	-86	-160	-82	-50	-1,656
Free Cash Flow	64,745	48,531	32,262	10,175	79,285