| Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 |
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Net income | 106 | 99 | 127 | 169 | 247 | 187 |
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Depreciation and amortization | 2 | 3 | 3 | 4 | 5 | 7 |
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Change in deferred income taxes | -23 | -22 | -8 | -7 | -24 | -20 |
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Change in payable to related parties pursuant to tax receivable agreement | -5 | -10 | -0 | 1 | -5 | -3 |
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Equity-based compensation | 6 | 6 | 7 | 7 | 7 | 10 |
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Equity in income of investees | 17 | 7 | 20 | 32 | 79 | 5 |
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Gain on sale of investment | - | - | - | - | 12 | 12 |
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Primary Beneficiary | - | - | - | 2 | 4 | 5 |
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Fair value adjustment of other investments | - | - | - | - | - | 21 |
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Proceeds received from partnerships | 14 | 14 | 13 | 1 | 47 | 16 |
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Noncash Lease Expense | - | - | - | 7 | 10 | 7 |
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Gain on sale of intangible asset | - | - | - | - | - | -3 |
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Impairment of other investment | - | - | - | - | - | 43 |
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Other | 1 | 0 | 0 | 2 | -1 | -3 |
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Fees receivable | 3 | 5 | 10 | -1 | 23 | -5 |
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Prepaid expenses | -0 | 2 | 2 | -1 | 1 | 3 |
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Due from related parties | -0 | -1 | -0 | -0 | -1 | 5 |
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Other assets | -0 | 2 | 2 | 1 | -0 | 7 |
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Accounts payable | 0 | 1 | -1 | 0 | 1 | 2 |
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Accrued compensation and benefits | 5 | 5 | -1 | 19 | -9 | 4 |
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Lease liability | - | - | - | 3 | -3 | -8 |
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Other liabilities | 1 | 1 | 1 | 10 | 12 | -13 |
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Fair Value Adjustment of Warrants | - | - | - | -2 | -4 | -3 |
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Equity in (income) loss of investees | - | - | - | -2 | 0 | 1 |
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Increase (Decrease) in Deferred Revenue | - | - | - | -4 | - | - |
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Other assets and liabilities | - | - | - | 1 | -0 | -6 |
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Net cash provided by operating activities | 97 | 112 | 116 | 188 | 170 | 227 |
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Purchase of furniture, fixtures and equipment | 2 | 5 | 2 | 19 | 9 | 5 |
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Cash paid for acquisition of business | - | - | - | - | 10 | 2 |
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Payments to Acquire Finance Receivables | - | - | - | - | - | 3 |
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Purchase of investments | - | - | 4 | 91 | 19 | 37 |
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Proceeds from sales of investments | - | 23 | 6 | - | 13 | 13 |
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Distributions received from investments | - | - | - | - | - | 1 |
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Distributions received from Partnerships | 16 | 11 | 8 | 31 | 15 | 14 |
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Contributions to Partnerships | 30 | 46 | 54 | 70 | 73 | 85 |
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Purchase of intangible assets | - | - | 4 | 1 | - | - |
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Sale of investments held in trust | - | - | - | - | - | 279 |
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Net cash provided by (used in) investing activities | -22 | -19 | -50 | -422 | -70 | 178 |
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Proceeds from offering | - | 194 | 147 | 473 | 74 | 44 |
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Purchase of membership interests | - | 194 | 147 | 473 | 74 | 44 |
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Proceeds from Issuance of Long-Term Debt | - | - | 75 | 75 | 25 | 32 |
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Repayments of long term debt | 87 | 13 | 71 | 1 | 2 | 4 |
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Drawdown of revolver | - | - | 15 | 15 | - | 40 |
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Repayment of revolver | - | - | 15 | - | 15 | 25 |
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Repurchase of Class B common stock | - | - | 0 | 0 | 0 | - |
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Repurchase of Class A common stock for employee tax withholding | 6 | 5 | 6 | 6 | 3 | 2 |
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Proceeds received from issuance of shares under Employee Share Purchase Plan | - | - | 1 | 1 | 2 | 2 |
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Payments to related parties pursuant to the tax receivable agreement | - | - | 2 | 7 | 23 | 10 |
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Dividends paid | 10 | 19 | 29 | 40 | 50 | 72 |
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Members’ distributions paid | 37 | 51 | 47 | 34 | 48 | 63 |
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Proceeds from Noncontrolling Interests | - | - | - | 0 | 1 | 1 |
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Distributions to non-controlling interest in general partnerships | - | - | - | 3 | 1 | 1 |
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Redemption of Class A units of Hamilton Lane Alliance Holdings I, Inc. | - | - | - | - | - | 278 |
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Proceeds From Redeemable Noncontrolling Interests | - | - | - | 276 | - | - |
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Payments of Stock Issuance Costs | - | - | - | - | - | - |
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Contributions from consolidated funds | - | - | - | - | - | 19 |
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Net cash (used in) provided by financing activities | -60 | -90 | -65 | 271 | -113 | -364 |
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Effect of exchange rate changes on cash and cash equivalents | - | 0 | -0 | 0 | - | - |
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Increase (decrease) in cash, cash equivalents, and restricted cash | 15 | 2 | 2 | 37 | -14 | 40 |
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