Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 6

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 6
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,709)(55,718)Cash flows from financing activities:Dividends paid(126,700)(112,900)Share repurchases(326)(24,952)Payments to settle employee tax obligations on share-based awards(101,963)(70,120)Earnouts paid(9,706)(7,053)Other financing activities710 587 Net cash used in financing activities(237,985)(214,438)Effects of exchange rate changes on cash, cash equivalents, and restricted cash(14,593)8,101 Net increase/(decrease) in cash, cash equivalents, and restricted cash78,938 (158,907)Cash, cash equivalents, and restricted cash – beginning of period721,854 714,812 Cash, cash equivalents, and restricted cash – end of period$800,792 $555,905 Supplemental disclosures of non-cash activities:Shares issued via vesting of liability classified awards$5,953 $5,176 Shares issued as consideration for acquisition84,995 19,343 Promissory note issued as consideration for acquisition351 — Cash acquired through acquisitions$3,807 $228 Cash paid during the period:Interest$1,108 $319 Taxes, net of refunds58,832 85,324 Regulatory fines and penalties— 15,000 

See accompanying Notes to Consolidated Financial Statements5

Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)(In thousands, except share data or as otherwise stated)

Note 1 — Background

Houlihan Lokey, Inc. ("Houlihan Lokey," or "HL, Inc." also referred to as the "Company," "we," "our," or "us") is a Delaware corporation that controls the following primary subsidiaries:•Houlihan Lokey Capital, Inc., a California corporation ("HL Capital, Inc."), is a wholly owned direct subsidiary of HL, Inc. HL Capital, Inc. is registered as a broker-dealer under Section 15(b) of the Securities Exchange Act of 1934 and a member of Financial Industry Regulatory Authority, Inc.•Houlihan Lokey Financial Advisors, Inc., a California corporation ("HL FA, Inc."), is a wholly owned direct subsidiary of HL, Inc.•Houlihan Lokey UK Limited, a private limited