Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 108

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 flows are primarily influenced by the amount and timing of receipt of advisory fees and the payment of operating expenses, including payments of incentive compensation to our employees. We pay a significant portion of our incentive compensation during the first and third quarters of each fiscal year. A summary of our operating, investing, and financing cash flows is as follows:

Nine Months Ended December 31,(In thousands)20242023ChangeOperating activities:Net income$277,791 $199,224 39 %Non-cash charges191,961 184,270 4 %Other operating activities20,473 (280,346)(107)%Net cash provided by operating activities490,225 103,148 375 %Net cash used in investing activities(158,709)(55,718)185 %Net cash used in financing activities(237,985)(214,438)11 %Effects of exchange rate changes on cash, cash equivalents, and restricted cash(14,593)8,101 (280)%Net increase/(decrease) in cash, cash equivalents, and restricted cash78,938 (158,907)(150)%Cash, cash equivalents, and restricted cash — beginning of period721,854 714,812 1 %Cash, cash equivalents, and restricted cash — end of period$800,792 $555,905 44 %

Nine Months Ended December 31, 2024

Operating activities resulted in a net inflow of $490.2 million, primarily attributable to net income plus equity and liability classified share awards issued, partially offset by cash bonus payments paid in May 2024. Investing activities resulted in a net outflow of $(158.7) million, primarily attributable to the purchase of investment securities and several acquisitions closing during the nine months ended December 31, 2024. Financing activities resulted in a net outflow of $(238.0) million, primarily attributable to dividends paid and payments made to settle employee tax obligations on share-based awards.

Nine Months Ended December 31, 2023

Operating activities resulted in a net inflow of $103.1 million, primarily attributable to net income plus equity and liability classified share awards issued, offset by cash bonus payments paid in May 2023. Investing activities resulted in a net outflow of $(55.7) million, primarily attributable to purchases of property and equipment, net. Financing activities resulted in a net outflow of $(214.4) million, primarily attributable to dividends paid and payments made to