| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | Dec'18 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net income | ||||||
62,485 | 57,278 | 48,578 | 24,816 | 42,352 | 29,307 | |
Adjustments to reconcile net income to net cash used in operating activities: | ||||||
Depreciation and amortization | ||||||
37,176 | 36,402 | 35,133 | 34,292 | 33,503 | 33,020 | |
Stock-based compensation expense | ||||||
7,971 | 8,732 | 9,132 | 27,286 | 4,674 | - | |
Deferred taxes | ||||||
7,227 | 24,042 | -5,422 | -3,557 | -39 | 968 | |
(Increase) decrease in operating assets: | ||||||
Receivable from/payable to brokers and dealers and clearing organizations, net | ||||||
40,563 | -576,257 | 492,410 | 76,828 | 3,831 | -1,265 | |
Deposits with clearing organizations | ||||||
1,668 | -2,468 | -1,286 | 4,535 | -2,570 | 2,248 | |
Accounts receivable | ||||||
43,453 | -5,138 | 3,665 | -650 | 6,406 | -8,085 | |
Receivable from/payable to affiliates, net | ||||||
-2,452 | 2,190 | 665 | 773 | -1,167 | 1,102 | |
Other assets | ||||||
9,837 | -2,593 | -584 | 1,673 | 7,152 | 4,695 | |
Increase (decrease) in operating liabilities: | ||||||
Accrued compensation | ||||||
-59,910 | 23,359 | 26,427 | 14,878 | -66,447 | 38,368 | |
Deferred revenue | ||||||
2,306 | -4,587 | 3,295 | -3,215 | 602 | -396 | |
Accounts payable, accrued expenses and other liabilities | ||||||
14,067 | -10,159 | 10,270 | 1,250 | -4,911 | 639 | |
Employee equity compensation payable | ||||||
-11 | 334 | -14 | 429 | -17,161 | 9,345 | |
Net cash used in operating activities | ||||||
-21,758 | 120,538 | 113,492 | 98,052 | -21,079 | 112,556 | |
Cash flows from investing activities | ||||||
Purchase of furniture, equipment, software and leasehold improvements | ||||||
1,298 | 7,214 | 4,774 | 2,277 | 1,516 | 9,090 | |
Capitalized software development costs | ||||||
7,063 | 7,481 | 7,286 | 7,147 | 6,767 | 7,156 | |
Net cash used in investing activities | ||||||
-8,361 | -14,695 | -12,060 | -9,424 | -8,283 | -16,246 | |
Cash flows from financing activities | ||||||
Pre-IPO capital distributions | ||||||
- | - | - | - | - | 36,000 | |
Proceeds from stock-based compensation exercises | ||||||
35,422 | - | - | - | - | - | |
Offering costs from follow-on offering | ||||||
308 | - | - | - | - | - | |
Dividends | ||||||
13,400 | - | - | - | - | - | |
Capital distributions to non-controlling interests | ||||||
- | 14,665 | 11,772 | -8,091 | 20,000 | - | |
Payroll taxes paid for stock-based compensation exercises | ||||||
23,991 | - | - | - | - | - | |
Net cash used in financing activities | ||||||
-2,277 | -39,286 | -23,206 | -135,650 | -20,000 | -36,000 | |
Effect of exchange rate changes on cash and cash equivalents | ||||||
-3,958 | 4,024 | -1,878 | -1,004 | 866 | -389 | |
Net decrease in cash and cash equivalents | ||||||
-36,354 | 70,581 | 76,348 | -48,026 | -48,496 | 59,921 | |
Supplemental disclosure of cash flow information | ||||||
Income taxes paid | ||||||
2,867 | 13,555 | 5,298 | 17,688 | 7,301 | 2,659 | |
Non-cash financing activities - Items arising from LLC Interest ownership changes | ||||||
Deferred tax asset | ||||||
7,227 | - | - | - | -39 | 968 | |
Conversion of certain cash-settled PRSUs to equity-settled PRSUs | ||||||
- | - | - | - | - | 19,072 | |
Refinitiv Transaction | ||||||
Deferred taxes | ||||||
43,948 | - | - | - | - | - | |
Establishment of liabilities under tax receivable agreement | ||||||
11,212 | - | - | - | - | - | |
Deferred tax asset | ||||||
43,948 | - | - | - | - | - | |