| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | Sep'18 | Jun'18 | Mar'18 | Mar'17 |
|---|---|---|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES: | |||||||||
Consolidated net income | |||||||||
152,544 | 161,712 | 217,598 | 210,587 | 182,817 | 191,898 | 0 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash (used in) provide by operating activities: | |||||||||
Gain on originated mortgage servicing rights | |||||||||
124,873 | 103,160 | 103,525 | 102,240 | 106,149 | 95,284 | 0 | 0 | 0 | 0 |
Depreciation and amortization | |||||||||
148,879 | 131,144 | 127,656 | 116,748 | 103,524 | 97,733 | 0 | 0 | 0 | 0 |
Provision for credit losses on the financial guarantee liability | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Equity based compensation and allocation of net income to limited partnership units and FPUs | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Equity-based compensation and allocations of net income to limited partnership units and FPUs | |||||||||
257,879 | 258,836 | 208,957 | 193,085 | 221,099 | 224,644 | 0 | 0 | 0 | - |
Employee loan amortization | |||||||||
46,018 | 38,987 | 38,727 | 34,642 | 29,171 | 27,743 | 0 | 0 | 0 | 0 |
Non-cash changes in acquisition related earnouts | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Change in fair value of contingent consideration | |||||||||
- | - | - | - | - | 374 | 0 | 0 | 0 | - |
Loss on non-marketable investments | |||||||||
-4,678 | 12,159 | 0 | 0 | 0 | - | - | - | - | - |
Unrealized (gains) loss on loans held for sale | |||||||||
27,959 | 5,174 | 40,491 | 36,840 | 16,580 | 18,430 | 0 | 0 | 0 | 0 |
Income from an equity method investment | |||||||||
- | - | - | - | - | 2,700 | 0 | 0 | 0 | - |
Accounts Receivable, Credit Loss Expense (Reversal) | |||||||||
3,661 | 1,817 | 2,729 | 2,958 | 3,346 | 3,530 | 0 | 0 | 0 | 0 |
Amortization of deferred financing costs | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Realized (gains) loss on marketable securities | |||||||||
2,000 | 4,100 | 5,900 | 3,600 | 800 | 3,300 | 0 | 0 | 0 | - |
Unrealized (gains) loss on marketable securities | |||||||||
7,300 | 11,300 | 2,348 | 2,466 | 2,004 | -1,200 | 0 | 0 | 0 | - |
Change in valuation of derivative asset | |||||||||
-16,615 | -51,117 | 0 | 0 | 0 | - | - | - | - | - |
Loan originations—loans held for sale | |||||||||
9,774,497 | 8,783,225 | 10,185,941 | 9,451,327 | 8,756,424 | 8,612,671 | 0 | 0 | 0 | 0 |
Loan sales—loans held for sale | |||||||||
9,936,096 | 9,563,973 | 10,654,741 | 9,217,226 | 8,865,622 | 8,002,872 | 0 | 0 | 0 | 0 |
Other | |||||||||
6,064 | 4,260 | 4,153 | 3,122 | 2,498 | 1,586 | 0 | 0 | 0 | - |
Consolidated net income (loss), adjusted for non-cash and non-operating items | |||||||||
1,815,297 | 1,159,815 | -1,386,541 | -665,963 | -1,007,621 | -286,467 | 0 | 0 | 0 | 0 |
Changes in operating assets and liabilities: | |||||||||
Receivables, net | |||||||||
-5,270 | 52,021 | 86,530 | 99,880 | 105,407 | 129,490 | 0 | 0 | 0 | 0 |
Loans, forgivable loans and other receivables from employees and partners | |||||||||
227,176 | 161,897 | 127,187 | 113,468 | 124,981 | 109,569 | 0 | 0 | 0 | 0 |
Other assets | |||||||||
122,892 | 113,241 | 45,715 | 28,741 | 14,463 | 9,924 | 0 | 0 | 0 | 0 |
Accrued compensation | |||||||||
12,268 | 39,959 | 29,989 | 11,495 | 14,823 | 50,198 | 0 | 0 | 0 | 0 |
Accounts payable, accrued expenses and other liabilities | |||||||||
113,952 | 90,712 | 107,635 | 144,797 | 92,801 | 152,885 | 0 | 0 | 0 | 0 |
Payables to related parties | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |
Net cash (used in) provide by operating activities | |||||||||
294,926 | 986,760 | 697,408 | 7,232 | 297,460 | -332,367 | 0 | 0 | 0 | 0 |
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||
Payments to Acquire Businesses, Net of Cash Acquired | |||||||||
39,789 | 33,939 | 0 | 0 | 0 | - | - | - | - | - |
Proceeds from the sale of marketable securities | |||||||||
58,100 | 32,600 | 77,100 | 66,700 | 52,804 | 95,900 | 0 | 0 | 0 | - |
Payments for acquisitions, net of cash acquired and repurchases of noncontrolling interests | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Purchase of non-marketable investments | |||||||||
- | - | - | - | - | - | - | - | 0 | - |
Purchases of fixed assets | |||||||||
38,439 | 34,526 | 33,677 | 22,628 | 25,238 | 21,016 | 0 | 0 | 0 | 0 |
Purchase of mortgage servicing rights | |||||||||
1,283 | 1,489 | 1,828 | 2,221 | 2,896 | 3,107 | 0 | 0 | 0 | - |
Net cash (used in) provided by investing activities | |||||||||
-40,860 | -56,788 | -6,353 | -30,761 | -31,859 | 7,742 | 0 | 0 | 0 | 0 |
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||
Proceeds from warehouse facilities | |||||||||
9,774,497 | 8,783,225 | 10,185,941 | 9,451,327 | 8,756,424 | 8,612,671 | 0 | 0 | 0 | 0 |
Principal payments on warehouse facilities | |||||||||
9,930,921 | 9,545,964 | 10,636,874 | 9,198,704 | 8,847,158 | 8,000,725 | 0 | 0 | 0 | - |
Principal payments on warehouse notes payable | |||||||||
- | - | - | - | - | - | - | - | - | 0 |
Proceeds from BGC's purchase of exchangeable limited partnership units in Newmark Holdings | |||||||||
- | - | - | - | - | 241,960 | 0 | 0 | 0 | - |
Payments to related parties | |||||||||
- | - | - | - | - | 858,428 | 0 | 0 | 0 | 0 |
Borrowings from related parties | |||||||||
- | - | - | - | - | 372,950 | 0 | 0 | 0 | 0 |
Settlement of pre-Spin-Off related party receivables | |||||||||
6,848 | 33,892 | 0 | 0 | 0 | - | - | - | - | - |
Fees relating to the IPO | |||||||||
- | - | - | - | - | - | 0 | 0 | 0 | - |
Borrowing of debt | |||||||||
470,000 | 155,000 | 0 | 0 | 0 | - | - | - | - | - |
Repayment of debt | |||||||||
55,000 | 105,000 | 228,950 | 312,150 | 450,000 | 670,710 | 0 | 0 | 0 | - |
Securities loaned | |||||||||
-43,745 | 36,735 | 16,258 | 24,533 | 35,123 | -57,623 | 0 | 0 | 0 | - |
Earnings distributions to limited partnership interests and noncontrolling interests | |||||||||
143,374 | 140,576 | 136,042 | 140,258 | 80,341 | 46,490 | 0 | 0 | 0 | 0 |
Dividends to stockholders | |||||||||
70,975 | 69,245 | 0 | 0 | 0 | - | - | - | - | - |
Payments on acquisition earn-outs | |||||||||
6,596 | 4,837 | 4,383 | 4,138 | 3,718 | 4,476 | 0 | 0 | 0 | 0 |
Payment of deferred financing costs | |||||||||
3,676 | 1,368 | 1,519 | 1,333 | 1,324 | 1,308 | 0 | 0 | 0 | 0 |
Net cash (used in) provided by financing activities | |||||||||
-40,310 | -895,506 | -903,797 | -186,404 | -419,781 | 338,657 | 0 | 0 | 0 | 0 |
Net increase (decrease) in cash and cash equivalents and restricted cash | |||||||||
213,756 | 34,466 | -212,742 | -209,933 | -154,180 | 14,032 | 0 | 0 | 0 | 0 |
Supplemental disclosures of cash flow information: | |||||||||
Cash paid during the period for: | |||||||||
Interest | |||||||||
37,793 | 36,959 | 47,267 | 67,083 | 69,204 | 81,838 | 0 | 0 | 0 | 0 |
Taxes | |||||||||
92,354 | 95,089 | 83,201 | 75,081 | 60,425 | 1,165 | 0 | 0 | 0 | 0 |
Supplemental disclosure of non-cash operating, investing and financing activities: | |||||||||
Right-of-use assets and liabilities | |||||||||
0 | - | - | - | 0 | - | - | - | - | - |