VIRTU ITG HOLDINGS LLC ITG Cash Flow

Virtu itg holdings llc (ITG)

CashFlow / Quarterly

Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash Flows from Operating Activities:
Net income (loss)
-880	229	-3,035	4,377	-2,418	-46,967	4,643	5,302	5,716	-23,911	-5,217	-2,506	82,337	2,710	-10,210	16,733	12,981	11,365	12,926	13,620	9,662	7,715	5,086	8,622	-6,453	232	-247,096	5,458	-3,672	10,477	-196,143	9,549	1,830	6,210	7,508	8,432
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization
10,715	10,925	10,990	11,230	11,466	11,250	11,210	11,227	11,073	10,766	10,903	10,781	10,827	11,051	11,112	11,161	11,495	12,024	12,831	13,034	13,325	13,383	13,554	13,344	13,838	14,162	14,179	14,314	14,881	14,911	14,635	14,630	15,117	15,419	15,794	16,043
Deferred income tax expense (benefit)
-14	-145	-112	841	-1,356	42,589	-3,199	-4,208	-3,329	-8,011	-13,707	9,292	9,667	-4,597	-543	8,385	-6,550	-2,288	1,308	2,551	1,930	542	-626	1,205	-3,691	-1,740	-28,499	6,774	-3,729	-1,178	-40,652	12,966	-6,333	-584	1,929	673
Provision for doubtful accounts
192	209	59	133	-76	296	167	-12	-41	90	-114	132	-91	221	98	268	-1,225	148	126	150	266	-236	-278	-157	40	510	318	533	-51	226	116	-88	-267	292	-94	247
Non-cash share-based compensation
9,335	6,273	5,859	8,295	4,508	4,912	5,131	5,687	6,211	4,921	7,847	6,641	4,429	2,727	4,626	4,885	4,267	2,758	4,575	3,759	-1,517	4,924	4,607	5,525	4,773	4,861	4,184	1,810	6,339	5,420	5,376	3,021	5,502	4,614	4,583	3,307
Capitalized software write-off
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-6,091
Changes in operating assets and liabilities:
Cash restricted or segregated under regulations and other
-	-	-	-	-	-	-	-	-	-519	199	229	2,863	-314	-2,417	-187	-9	201	413	11	92	5,068	5,174	-843	-5,256	-377	-927	-5,140	3,323	530	-427	-801	-14,064	578	-11,748	-609
Deposits with clearing organizations
-5,230	1,159	11,361	12,757	-23,905	5,571	15,337	-5,664	-8,162	-20,508	17,625	9,625	-22,602	-13,791	20,359	17,147	2,789	-9,841	-3,343	-27,952	42,295	8,257	-129	-4,801	5,688	-2,121	-4,555	4,599	-14,761	20,732	2,178	3,154	-12,880	-11,741	19,405	4,560
Securities owned, at fair value
-346	-282	-317	-303	-191	-179	-226	-408	-5,792	4,019	-1,604	329	-2,851	-2,219	-1,447	544	-9,787	8,512	5,437	1,327	-4,464	4,928	-4,362	1,453	1,382	2,820	-621	1,108	-665	-2,410	692	-16,020	17,711	479	-508	376
Receivables from brokers, dealers and clearing organizations
23,452	43	79,515	-5,467	-16,574	-40,307	-41,381	124,963	-135,181	-101,961	-570,067	-64,108	-95,747	131,932	131,413	237,220	-39,353	22,574	-143,361	-51,351	-582,916	456,771	-931,008	1,013,541	-244,524	336,581	-624,858	696,406	-208,660	-723,399	254,056	684,674	-156,684	39,332	-7,301	627,793
Receivables from customers
100,898	-31,854	52,808	40,873	-21,776	-84,269	78,103	39,774	-22,039	-102,822	114,802	21,797	-11,891	-39,763	-4,345	2,090	468,345	-533,469	105,424	-3,062	-335,622	-225,408	-204,106	828,512	-65,345	-53,103	-855,719	969,906	-364,634	-277,703	417,600	89,824	-145,815	-219,009	-118,197	773,052
Accounts payable and accrued expenses
-4,524	20,125	29,086	4,878	7,650	10,312	10,256	-39,510	11,375	7,557	12,031	-17,929	15,147	-25,923	27,113	-35,315	16,193	13,411	11,758	-13,973	722	944	26,550	-18,280	11,567	2,922	5,088	-42,482	572	4,683	26,108	-49,442	14,233	736	-5,581	-41,383
Payables to brokers, dealers and clearing organizations
137,009	24,390	53,230	10,192	6,997	-90,012	7,335	83,338	-69,847	-93,492	-626,521	-64,063	-48,263	58,943	166,818	188,964	93,444	-77,367	-154,820	-65,062	-235,457	-66,348	-833,609	1,087,076	58,779	144,424	-874,705	797,421	-43,303	-268,919	-122,511	375,128	143,368	-250,288	277,493	718,884
Payables to customers
-15,332	-62,403	75,729	16,871	-21,721	-61,692	81,006	10,314	-15,146	-46,595	54,275	10,147	-42,875	21,473	1,989	18,638	388,070	-408,159	5,857	9,157	-669,991	280,016	-283,768	716,571	-384,303	154,592	-539,729	770,302	-439,601	-791,379	801,224	365,164	-429,641	92,990	-418,339	717,292
Securities sold, not yet purchased, at fair value
-1,012	1,018	0	-1	-38	40	-1	-248	-5,572	4,191	-2,156	1,140	-2,722	-1,698	-1,399	717	-14,614	14,597	5,021	1,158	-4,235	4,688	-3,938	1,399	563	2,811	277	1,044	-1,019	-1,729	322	-16,489	17,129	-2,776	3,940	54
Income taxes receivable/payable
-876	508	-338	2,412	300	1,278	1,408	-94	-2,317	2,013	2,714	-14,299	11,354	3,440	-4,533	-8,551	6,263	-233	-247	411	-2,092	-299	5,361	9,178	1,280	146	3,034	-5,919	-893	731	3,284	-9,175	1,146	-5,254	10,415	4,139
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-222	113	121	868	62	42	402	2,476	213	58	17	990	291	12	51	156	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
676	-797	-862	20,873	-5,346	5,975	-2,459	2,169	-3,388	-873	1,115	3,205	-1,102	-8	2,354	2,448	-1,756	-3,295	1,607	6,841	-4,851	-2,734	2,740	3,182	-2,241	-2,467	-3,204	5,628	-3,060	-818	-931	2,054	-4,366	-3,732	5,460	3,505
Net cash provided by operating activities
14,555	34,304	28,963	-9,505	80,596	-14,460	68,582	-89,038	112,816	80,080	-122,157	-32,609	63,379	-7,532	48,752	-55,853	89,882	81,516	-66,859	38,001	-2,111	-1,565	65,585	-16,717	7,237	41,587	101,220	-123,252	122,445	-43,689	45,924	-57,621	78,807	55,452	16,748	25,102
Investment in joint ventures
0	0	0	612	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Acquisition of subsidiaries and minority interests, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	36,041	144	-	-	-	-
Capital purchases
3,551	2,716	4,017	3,517	9,174	4,571	2,528	3,129	11,647	4,175	2,711	2,782	6,113	2,124	2,269	1,399	5,559	2,245	3,405	2,589	3,792	9,183	4,790	15,784	17,272	4,317	7,685	4,150	6,488	5,310	5,429	5,630	10,145	1,564	1,850	5,721
Capitalization of software development costs
7,226	6,981	7,310	6,070	6,768	6,657	7,257	7,100	5,912	6,035	6,324	6,346	6,242	33,071	-6,843	-6,467	46,236	-6,272	-6,888	-6,745	-5,427	-5,316	-6,054	-5,782	-5,620	-6,007	-6,079	-6,929	-4,578	-6,141	-9,076	-9,266	-5,099	-7,249	-10,900	-10,649
Proceeds of short-term bank loans, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	6,715	7,024	-78,121	84,930	-	-	-	-	-	-	-	-
Net cash used in investing activities
-10,777	-9,697	-11,327	-10,199	-15,942	-11,228	-9,785	-10,229	-17,559	-10,210	-2,910	-9,128	98,885	-8,575	-9,112	-7,866	-11,985	-29,479	-10,293	-9,334	-9,219	-14,499	-11,318	-21,566	-22,892	-10,324	-13,764	-11,079	-11,066	-11,451	-50,546	-12,945	-61,170	-8,813	-15,750	-16,370
Cash Flows from Financing Activities:
Proceeds from sale of investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	2,095	-	-	-	-
Repayments of long term debt
182	180	180	595	0	646	1,752	1,565	1,551	1,540	1,644	1,465	1,453	1,548	2,650	3,169	3,156	3,144	3,131	3,120	2,990	2,803	1,856	1,856	1,858	1,850	1,739	1,738	-	-	-	-	11,200	11,900	11,900	11,900
Proceeds from (repayments of) borrowing under short-term bank loans
28,569	-20,574	-5,626	-20,997	-574	16,487	-44,228	57,587	-61,337	-32,518	84,185	-114	16,920	-16,136	-26,119	28,908	-11,566	-51,728	114,595	-46,480	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Debt issuance costs
0	0	0	751	0	0	6	756	0	0	3	807	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	305	2,603	-	-	-	-
Proceeds of short-term bank loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-38,325	8,738	-34,207	-	-	-	-
Proceeds from term loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18,157	-	-	-	-	-	-	-	-	-	-	-	-
(Repayments of) proceeds from borrowing under short-term bank loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	25,339	-	-	-	-	-	-	-	-	-	-	-	-
Excess tax benefit from share-based payment arrangements
-	-	-	-	-	-	-	-	-222	113	121	868	62	42	402	2,476	213	58	17	990	291	12	51	156	-	-	-	-	-	-	-	-	-	-	-	-
Common stock issued
1,621	43	567	166	600	31	560	185	632	36	873	2,202	-169	625	218	1,068	-894	545	16	429	15	-335	15	482	14	544	-554	2,670	521	3,259	527	5,446	1,879	2,346	1,562	5,109
Common stock repurchased
0	78	2,165	3,571	9,529	2,421	1,773	3,210	0	7,166	5,332	9,614	10,319	7,165	8,137	16,425	12,037	9,081	14,330	12,717	4,168	6,063	8,985	8,953	5,917	4,357	4,121	9,062	10,724	10,376	5,198	12,630	11,405	13,752	15,211	9,916
Dividends paid
2,294	2,290	2,288	2,293	2,265	2,296	2,295	2,300	2,259	2,264	2,304	2,297	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Shares withheld for net settlements of share-based awards
2,196	449	45	8,321	295	602	31	9,851	178	88	234	6,295	581	97	231	8,069	-355	160	1,188	5,238	817	98	55	3,562	511	56	0	2,250	-	-	-	-	-	-	-	-
Net cash used in financing activities
25,518	-23,528	-9,737	-36,362	-12,063	10,553	-49,525	40,090	-64,915	-43,427	75,662	-17,522	2,142	-26,633	-38,875	4,789	-28,285	-63,510	95,979	-66,136	13,387	15,493	-28,212	29,763	-998	1,305	-82,634	74,550	-74,984	36,933	5,966	19,621	-41,397	-33,199	3,859	-19,646
Effect of exchange rate changes on cash, cash equivalents and restricted cash
-4,992	1,354	-2,746	-429	1,105	-1,455	737	-217	-10,739	-3,080	12,529	2,994	-358	-2,442	5,260	-10,518	-2,863	819	-2,373	-1,767	-1,727	3,104	-919	-3,457	-362	1,494	974	-1,375	322	-3,154	476	947	1,297	107	-955	2,059
Net decrease in cash, cash equivalents and restricted cash
24,304	2,433	5,153	-56,495	53,696	-16,590	10,009	-59,394	19,603	23,363	-36,876	-56,265	164,048	-45,182	6,025	-69,448	46,749	-10,654	16,454	-39,236	330	2,533	25,136	-11,977	-17,015	34,062	5,796	-61,156	36,717	-21,361	1,820	-49,998	-22,463	13,547	3,902	-8,855
Shares withheld for net settlements of share-based awards
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	194	4,799	-	349	510	2,939
Supplemental cash flow information:
Interest paid
959	1,000	1,193	1,582	1,548	1,086	1,193	1,133	3,049	911	1,085	1,071	771	1,148	938	750	997	1,116	892	974	1,073	718	864	688	568	713	701	691	981	721	416	335	337	275	385	346
Income taxes paid, net
-	-	-	-	3,094	2,562	2,030	2,829	-2,439	1,983	6,387	3,949	1,214	1,880	6,652	5,352	4,330	2,950	2,791	1,838	467	2,603	869	-8,018	39	1,301	2,009	2,146	5,980	1,967	3,804	3,757	4,584	11,808	107	2,846
Proceeds from income tax refunds
-	-	-	1,587	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Supplemental disclosure of non-cash investing and financing activities:
Investment in joint venture
0	0	0	1,393	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-