| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'13 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||
-103,705 | 620,192 | 18,898 | 158,340 | 197,490 | 182,203 | |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
Depreciation And Amortization Excluding Intangible Assets | ||||||
65,644 | 61,154 | 47,327 | 29,703 | 33,629 | 23,922 | |
Amortization of Intangible Assets | ||||||
70,600 | 26,100 | 15,400 | 211 | 211 | 1,011 | |
Debt issue cost related to debt refinancing and prepayment | ||||||
41,134 | 10,645 | 10,460 | 5,579 | - | 10,022 | |
Amortization of debt issuance costs and deferred financing fees | ||||||
11,720 | 10,419 | 5,822 | 1,690 | 1,755 | 3,861 | |
Termination of office leases | ||||||
66,452 | 23,357 | 3,671 | 0 | 1,380 | - | |
Share-based compensation | ||||||
71,728 | 31,934 | 26,259 | 22,866 | 61,878 | 13,441 | |
Reserve for legal matters | ||||||
0 | 2,020 | 657 | 0 | 5,440 | - | |
Write-down of assets | ||||||
0 | 3,239 | 1,216 | 428 | 559 | 1,968 | |
Connectivity early termination | ||||||
0 | 2,000 | 0 | 0 | - | - | |
Tax receivable agreement obligation reduction | ||||||
0 | 0 | -86,599 | 0 | - | - | |
Deferred taxes | ||||||
-18,691 | 4,131 | 102,973 | 13,313 | 3,985 | - | |
Gain on sale of businesses | ||||||
0 | 335,211 | 0 | 0 | - | - | |
Other | ||||||
880 | 418 | -4,577 | -1,070 | 219 | -240 | |
Changes in operating assets and liabilities: | ||||||
Securities borrowed | ||||||
515,897 | -71,488 | -155,277 | -233,291 | -31,638 | 278,784 | |
Securities purchased under agreements to resell | ||||||
127,557 | 15,475 | -16,894 | -14,981 | -16,482 | 92,526 | |
Receivables from broker-dealers and clearing organizations | ||||||
-110,977 | 111,344 | -26,145 | -27,808 | 88,884 | 61,598 | |
Trading assets, at fair value | ||||||
125,246 | -72,701 | -1,210,599 | 530,668 | -247,094 | 290,848 | |
Receivables from customers | ||||||
-29,733 | 18,087 | 0 | - | - | - | |
Other assets | ||||||
-25,133 | -125,272 | -44,494 | -772 | 5,796 | 665 | |
Securities loaned | ||||||
452,397 | 375,352 | 366,295 | -302,400 | 26,741 | 291,984 | |
Securities sold under agreements to repurchase | ||||||
58,881 | -108,781 | -450,964 | 0 | -2,006 | -4,051 | |
Payables to broker-dealers and clearing organizations | ||||||
107,266 | -148,764 | -516,376 | 209,374 | -199,599 | 277,721 | |
Payables to customers | ||||||
-37,560 | -28,875 | 0 | - | - | - | |
Trading liabilities, at fair value | ||||||
22,552 | 90,797 | -721,204 | 370,065 | -58,544 | 180,952 | |
Accounts payable, accrued expenses and other liabilities | ||||||
-37,665 | -50,110 | 17,860 | -14,684 | -13,392 | 508 | |
Net cash provided by (used in) operating activities | ||||||
168,771 | 714,595 | 290,574 | 239,599 | 260,280 | 259,361 | |
Development of capitalized software | ||||||
48,492 | 21,482 | 14,158 | 8,404 | 8,028 | 10,085 | |
Acquisition of property and equipment | ||||||
9,320 | 26,467 | 18,932 | 11,859 | 16,271 | 21,931 | |
Proceeds from sale of telecommunication assets | ||||||
0 | 600 | 0 | 0 | - | - | |
Investment in SBI Japannext | ||||||
- | - | - | 38,754 | - | - | |
Investment in joint ventures | ||||||
6,250 | 23,669 | 0 | 0 | - | - | |
Acquisition of Teza Technologies | ||||||
0 | 0 | 5,594 | 0 | - | - | |
Net cash provided by (used in) investing activities | ||||||
-899,643 | 329,174 | -838,016 | -59,017 | -24,299 | -32,016 | |
Distribution to members | ||||||
- | - | - | - | 130,000 | 433,400 | |
Distribution from Virtu Financial to non-controlling interest | ||||||
99,221 | 206,903 | 89,563 | 162,969 | 81,377 | - | |
Dividends | ||||||
112,414 | 100,329 | 63,814 | 37,759 | 17,362 | - | |
Repurchase of stock | ||||||
- | - | - | 4,539 | 3,819 | - | |
Stock options exercised | ||||||
931 | 76,754 | 0 | 0 | - | - | |
Short-term borrowings, net | ||||||
39,935 | -15,000 | 7,000 | -20,000 | 45,000 | -7,200 | |
Proceeds from long-term borrowings | ||||||
1,492,500 | 0 | 1,115,036 | 75,753 | - | 253,792 | |
Repayments of Long-term Debt | ||||||
500,000 | 500,000 | 256,473 | 3,825 | 2,914 | 6,717 | |
Repayment of KCG Notes | ||||||
0 | 0 | 480,987 | 0 | - | - | |
Tax receivable agreement obligations | ||||||
0 | 12,359 | 7,045 | 0 | - | - | |
Debt issuance costs | ||||||
35,702 | 2,261 | 56,505 | 5,094 | 976 | 8,597 | |
Issuance of common stock, net of offering costs | ||||||
0 | 0 | 735,974 | 0 | 327,366 | - | |
Issuance of common stock in connection with secondary offering, net of offering costs | ||||||
-375 | -950 | 0 | 16,677 | 7,782 | - | |
Repurchase of Virtu Financial Units and corresponding number of Class C common stock in connection with secondary offering | ||||||
- | - | - | 17,383 | 8,805 | - | |
Net cash provided by (used in) financing activities | ||||||
769,580 | -835,482 | 889,797 | -161,237 | -144,355 | -202,695 | |
Repurchase of Virtu Financial Units and corresponding number of Class A and C Common Stock | ||||||
- | - | - | - | 277,153 | - | |
Effect of exchange rate changes on cash and cash equivalents | ||||||
-1,475 | -5,127 | 9,117 | -1,165 | -4,255 | 1,382 | |
Net increase (decrease) in cash and cash equivalents | ||||||
37,233 | 203,160 | 351,472 | 18,180 | 87,371 | 26,032 | |
Supplementary disclosure of cash flow information | ||||||
Cash paid for interest | ||||||
205,433 | 139,412 | 112,982 | 54,872 | 63,230 | 44,848 | |
Cash paid for taxes | ||||||
12,273 | 93,991 | 5,976 | 16,175 | 12,875 | 4,559 | |
Non-cash investing activities | ||||||
Share-based and accrued incentive compensation to developers relating to capitalized software | ||||||
2,135 | 2,936 | 1,605 | 2,750 | 11,278 | 4,459 | |
Non-cash financing activities | ||||||
Tax receivable agreement described in Note 6 | ||||||
0 | -991 | 1,534 | 545 | -21,854 | - | |
Discount on issuance of senior secured credit facility | ||||||
0 | 0 | 1,438 | 1,350 | - | - | |
Secondary offerings described in Note 16 | ||||||
- | - | - | 0 | - | - | |
BondPoint | ||||||
Proceeds from sale of business | ||||||
0 | 400,192 | 0 | 0 | - | - | |
DMM Business | ||||||
Proceeds from sale of business | ||||||
0 | 0 | 300 | 0 | - | - | |
ITG | ||||||
ITG Acquisition, net of cash acquired, described in Note 3 | ||||||
835,581 | 0 | - | 0 | - | - | |
KCG | ||||||
Acquisition, net of cash acquired, described in Note 3 | ||||||
0 | 0 | 799,632 | - | - | - | |
Class A-2 | ||||||
Repurchase of stock | ||||||
0 | 0 | 11,143 | 2,000 | - | - | |
Common Class C [Member] | ||||||
Repurchase of stock | ||||||
196 | 8,216 | 0 | 98 | - | - | |
Treasury Stock | ||||||
Repurchase of stock | ||||||
15,878 | 66,218 | 2,683 | - | - | - | |