StepStone Group Inc. [Rocket]

In millions, except per share items	Jun-30-23	Dec-31-22	Sep-30-22	Jun-30-22	Mar-31-22	Dec-31-21	Sep-30-21	Jun-30-21
	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q
Cash flows from operating activities
Net income (loss)	49.4	-13.6	-67.1	-21.5	103.6	126.3	127.9	126.5

Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	12.0	12.1	11.7	11.5	11.7	11.7	2.4	1.2
Unrealized performance fee-related compensation	24.2	-31.9	-86.1	-54.6	84.8	68.4	74.2	85.6
Amortization of deferred financing costs	0.1	0.1	0.1	0.1		0.1
Equity-based compensation	8.5	8.1	3.8	3.7	3.6	3.4	3.2	3.7
Change in deferred income taxes	5.0	-5.5	-10.3	-2.8	-4.0	13.9	-16.3	12.6
Fair value adjustment for acquisition-related contingent consideration	-1.3	2.0	4.7	3.3		1.6
Other non-cash activities	0.0	0.0	0.0		-4.9	0.0	1.4	0.4
Adjustments to reconcile net income (loss) to net cash from operating activities of Consolidated Funds:
Unrealized investment income of Consolidated Funds	-2.4	-4.9
Purchases of investments of Consolidated Funds	-6.2	-9.4
Changes in operating assets and liabilities:
Fees and accounts receivable	-1.6	-8.4	0.5	-0.8	-1.5	1.6	8.0	-9.9
Due from affiliates	-8.6	-22.2	24.9	-19.1	-8.3	-0.9	-3.0	0.7
Other assets and receivables		9.3	0.4		-4.7	-2.8	-1.0	3.8
Accounts payable, accrued expenses and other liabilities	2.2	-4.4	10.5	-12.6	11.8	-5.3	-4.9	3.4
Accrued compensation and benefits	22.0	-0.3	16.7	32.4	-19.0	-5.2	14.5	16.8
Due to affiliates	0.9	0.0	-0.3	-0.3	-0.4	-1.8	0.2	-0.2
Lease right-of-use assets, net and lease liabilities	-4.5	1.8	-1.2	0.5	-0.2	-0.2	-0.2	0.3
Changes in operating assets and liabilities of Consolidated Funds:
Other assets and receivables		9.3	0.4		-4.7	-2.8	-1.0	3.8
Net cash provided by operating activities	57.6	6.0	88.2	57.5	32.3	46.5	59.8	75.7

Cash flows from investing activities
Contributions to investments
Distributions received from investments
Purchases of property and equipment	-7.8	-1.1	-1.7	-0.3	-0.5	-0.3	-0.1	-1.2
Net cash used in investing activities	-14.5	-6.1	-9.7	-7.6	-8.8	-11.5	-184.3	-5.7

Cash flows from financing activities
Proceeds from capital contributions from non-controlling interests	0.0	0.2	0.0		0.0	0.0	0.0	0.0

Distributions to non-controlling interests
Dividends paid to common stockholders	-28.3	-12.9	-12.3	-12.2	-9.1	-9.1	-5.6
Payments to related parties under Tax Receivable Agreements	-7.7	-1.2		-4.8	-0.1	-0.1		-0.6

Cash flows from financing activities of Consolidated Funds:
Contributions from redeemable non-controlling interests in Consolidated Funds	15.5	4.6
Net cash used in financing activities	-44.0	-1.8	-42.1	-60.7	-43.4	-73.5	77.6	-31.2
Effect of foreign currency exchange rate changes	-0.7	-1.5	0.8	0.7	0.4	-0.6	0.4	-0.2
Net decrease in cash, cash equivalents and restricted cash	-1.6			-10.1

Supplemental disclosures:
Non-cash operating, investing, and financing activities:
Accrued dividends	0.8	-0.2	0.4	0.4	0.3	0.1	-2.6	3.0
Deferred tax effect resulting from transactions affecting ownership in the Partnership, including net amounts payable under Tax Receivable Agreements	0.0	-1.1	-2.7	-0.6	1.7	-19.2	-41.2	3.4
Establishment of lease liabilities in exchange for lease right-of-use assets	1.2	52.5	10.5	14.7	0.1	0.2	2.6	76.9
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents
Restricted cash