| Mar'20 | Dec'19 | Sep'19 | Jun'19 | Mar'19 | 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 | Sep'14 | Jun'14 | Mar'14 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities | |||||||||||||||||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | |||||||||||||||||||||||
298,152 | -103,705 | 73,649 | 94,443 | 196,551 | 620,192 | 505,656 | 450,056 | 407,846 | 18,898 | 20,172 | 93,185 | 128,058 | 158,340 | 166,607 | 203,123 | 171,402 | 197,490 | 0 | 0 | 0 | 0 | 0 | 0 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||||||||||||||
Depreciation And Amortization Excluding Intangible Assets | |||||||||||||||||||||||
66,554 | 65,644 | 62,455 | 60,868 | 62,265 | 61,154 | 65,728 | 65,318 | 55,909 | 47,327 | 36,175 | 27,731 | 28,733 | 29,703 | 30,289 | 31,307 | 31,693 | 33,629 | 0 | 0 | 0 | - | - | - |
Amortization of Intangible Assets | |||||||||||||||||||||||
78,700 | 70,600 | 56,500 | 43,900 | 30,149 | 26,100 | 28,854 | 28,994 | 22,198 | 15,400 | 6,598 | 211 | 211 | 211 | 211 | 211 | 211 | 211 | 0 | 0 | 0 | - | - | - |
Debt issue cost related to debt refinancing and prepayment | |||||||||||||||||||||||
33,384 | 41,134 | 7,896 | 10,159 | 13,838 | 10,645 | 11,754 | 14,358 | 16,481 | 10,460 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Amortization of debt issuance costs and deferred financing fees | |||||||||||||||||||||||
12,569 | 11,720 | 11,959 | 11,353 | 11,480 | 10,419 | 10,325 | 10,596 | 7,191 | 5,822 | 3,764 | 1,465 | 1,436 | 1,690 | 1,864 | 1,810 | 1,847 | 1,755 | 0 | 0 | 0 | - | - | - |
Termination of office leases | |||||||||||||||||||||||
66,728 | 66,452 | 66,547 | 66,705 | 3,387 | 23,357 | 26,971 | 25,531 | 23,641 | 3,671 | 0 | 0 | 0 | - | - | -1,057 | -1,057 | 1,380 | 0 | 0 | 0 | - | - | - |
Share-based compensation | |||||||||||||||||||||||
72,095 | 71,728 | 65,087 | 54,472 | 44,702 | 31,934 | 37,872 | 33,761 | 31,563 | 26,259 | 24,350 | 23,887 | 23,582 | 22,866 | 12,081 | 14,577 | 59,605 | 61,878 | 0 | 0 | 0 | - | - | - |
Reserve for legal matters | |||||||||||||||||||||||
4,422 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Write-down of assets | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | 428 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Deferred taxes | |||||||||||||||||||||||
-26,296 | -18,691 | 6,908 | 5,550 | 4,149 | 4,131 | 110,302 | 104,491 | 103,090 | 102,973 | 5,457 | 12,062 | 13,137 | 13,313 | 0 | 0 | 0 | - | - | 0 | 0 | - | - | 0 |
Gain on sale of businesses | |||||||||||||||||||||||
- | - | - | - | - | 335,211 | 335,211 | 337,550 | 329,703 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Other | |||||||||||||||||||||||
-14,165 | 880 | 1,578 | -983 | 22,495 | 418 | -4,064 | -3,248 | -13,475 | -4,577 | -247 | -1,558 | 503 | -1,070 | 176 | 3,392 | -285 | 219 | 0 | 0 | 0 | - | - | - |
Changes in operating assets and liabilities: | |||||||||||||||||||||||
Securities borrowed | |||||||||||||||||||||||
39,115 | 515,897 | 259,970 | -29,027 | 37,637 | -71,488 | -219,614 | -474,491 | -532,859 | -155,277 | -275,853 | -264,991 | -295,602 | -233,291 | -115,788 | -117,760 | -37,019 | -31,638 | 0 | 0 | 0 | - | - | - |
Securities purchased under agreements to resell | |||||||||||||||||||||||
69,492 | 127,557 | 8,791 | 17,811 | 5,053 | 15,475 | 1,765 | -11,731 | -16,292 | -16,894 | -8,645 | -5,031 | 0 | -14,981 | 0 | -26,019 | -272 | -16,482 | 0 | 0 | 0 | - | - | - |
Receivables from broker-dealers and clearing organizations | |||||||||||||||||||||||
1,375,001 | -110,977 | 101,768 | -111,030 | -592,519 | 111,344 | 138,842 | 117,119 | 222,292 | -26,145 | -85,805 | -963,996 | 32,402 | -27,808 | -47,424 | 658,201 | 168,730 | 88,884 | 0 | 0 | 0 | - | - | - |
Trading assets, at fair value | |||||||||||||||||||||||
141,371 | 125,246 | -252,440 | 331,396 | 44,320 | -72,701 | 24,353 | -712,843 | -1,087,703 | -1,210,599 | -632,907 | -284,935 | 376,296 | 530,668 | -14,590 | -381,870 | -553,433 | -247,094 | 0 | 0 | 0 | - | - | - |
Receivables from customers | |||||||||||||||||||||||
409,183 | -29,733 | 170,018 | 150,040 | 16,940 | 18,087 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Operating lease right-of-use assets | |||||||||||||||||||||||
0 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Other assets | |||||||||||||||||||||||
276,189 | -25,133 | 1,319 | 17,365 | -395,948 | -125,272 | -113,097 | -182,618 | -49,779 | -44,494 | -25,315 | 1,059 | -683 | -772 | 2,982 | 3,130 | -6,045 | 5,796 | 0 | 0 | 0 | - | - | - |
Securities loaned | |||||||||||||||||||||||
197,458 | 452,397 | 275,513 | -28,155 | -133,821 | 375,352 | 217,230 | 277,470 | 346,200 | 366,295 | -65,221 | -610,478 | -267,000 | -302,400 | -259,781 | 78,880 | -266,225 | 26,741 | 0 | 0 | 0 | - | - | - |
Securities sold under agreements to repurchase | |||||||||||||||||||||||
99,679 | 58,881 | -19,455 | 16,043 | 24,599 | -108,781 | -319,649 | -561,846 | -576,205 | -450,964 | 0 | 0 | 0 | - | - | - | - | -2,006 | 0 | 0 | 0 | - | - | - |
Payables to broker-dealers and clearing organizations | |||||||||||||||||||||||
137,385 | 107,266 | -79,837 | -231,111 | 187,011 | -148,764 | 113,326 | -186,894 | -477,503 | -516,376 | -2,842 | -10,159 | 153,730 | 209,374 | -22,798 | -160,396 | -290,127 | -199,599 | 0 | 0 | 0 | - | - | - |
Payables to customers | |||||||||||||||||||||||
485,988 | -37,560 | -9,020 | -13,991 | -72,890 | -28,875 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Trading liabilities, at fair value | |||||||||||||||||||||||
519,660 | 22,552 | -149,173 | 310,043 | -551,839 | 90,797 | -137,797 | -459,293 | -583,996 | -721,204 | -539,315 | -815,014 | 262,193 | 370,065 | 119,678 | 138,396 | 119,329 | -58,544 | 0 | 0 | 0 | - | - | - |
Operating lease liabilities | |||||||||||||||||||||||
0 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Accounts payable, accrued expenses and other liabilities | |||||||||||||||||||||||
482,768 | -37,665 | -21,692 | 4,717 | -384,872 | -50,110 | -28,053 | -134,917 | -35,405 | 17,860 | -42,558 | -10,828 | -17,239 | -14,684 | -24,678 | -21,500 | -27,195 | -13,392 | 0 | 0 | 0 | - | - | - |
Net cash provided by (used in) operating activities | |||||||||||||||||||||||
160,079 | 168,771 | 54,862 | 26,973 | 385,619 | 714,595 | 388,314 | 518,478 | 377,494 | 290,574 | 268,228 | 236,535 | 220,218 | 239,599 | 205,429 | 162,816 | 229,495 | 260,280 | 0 | 0 | 0 | 0 | 0 | 0 |
Cash flows from investing activities | |||||||||||||||||||||||
Payable to affiliate | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 |
Development of capitalized software | |||||||||||||||||||||||
50,358 | 48,492 | 28,689 | 25,219 | 20,711 | 21,482 | 24,660 | 23,876 | 19,158 | 14,158 | 10,289 | 7,424 | 8,417 | 8,404 | 7,882 | 7,974 | 7,780 | 8,028 | 0 | 0 | 0 | - | - | - |
Acquisition of property and equipment | |||||||||||||||||||||||
15,408 | 9,320 | 24,853 | 22,049 | 26,624 | 26,467 | 23,715 | 25,528 | 19,594 | 18,932 | 16,858 | 13,216 | 14,415 | 11,859 | 10,786 | 8,340 | 13,493 | 16,271 | 0 | 0 | 0 | - | - | - |
Proceeds from sale of business | |||||||||||||||||||||||
- | - | - | - | - | - | 0 | 0 | 0 | - | - | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Investment in joint ventures | |||||||||||||||||||||||
5,900 | 6,250 | 28,169 | 26,669 | 25,169 | 23,669 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net cash provided by (used in) investing activities | |||||||||||||||||||||||
-71,666 | -899,643 | -917,292 | -908,918 | -907,485 | 329,174 | 352,088 | -448,434 | -443,486 | -838,016 | -831,744 | -65,098 | -61,586 | -59,017 | -57,422 | -16,314 | -21,273 | -24,299 | 0 | 0 | 0 | - | - | - |
Distribution to members | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 130,000 | 0 | 0 | 0 | - | - | - |
Distribution from Virtu Financial to non-controlling interest | |||||||||||||||||||||||
81,190 | 99,221 | 88,377 | 93,378 | 145,061 | 206,903 | 220,051 | 218,099 | 167,590 | 89,563 | 104,675 | 108,526 | 142,740 | 162,969 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Dividends | |||||||||||||||||||||||
115,704 | 112,414 | 109,598 | 106,922 | 104,261 | 100,329 | 96,128 | 91,847 | 76,080 | 63,814 | 51,655 | 39,298 | 38,495 | 37,759 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Repurchase of stock | |||||||||||||||||||||||
- | - | - | - | - | - | 0 | 0 | 16,686 | - | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Stock options exercised | |||||||||||||||||||||||
3,278 | 931 | 931 | 753 | 63,705 | 76,754 | 76,754 | 76,932 | 13,908 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Short-term borrowings, net | |||||||||||||||||||||||
271,219 | 39,935 | 63,748 | 86,245 | 120,116 | -15,000 | 2,000 | 34,000 | 2,500 | 7,000 | -2,600 | -55,000 | -10,000 | -20,000 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Proceeds from long-term borrowings | |||||||||||||||||||||||
0 | 1,492,500 | 1,492,500 | 1,492,500 | 1,492,500 | 0 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Payments on repurchase of non-voting common interest | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | - | 0 | 0 | 0 | - | 0 | 0 | 0 | - | - | - |
Repayments of Long-term Debt | |||||||||||||||||||||||
100,000 | 500,000 | 450,000 | 565,154 | 624,000 | 500,000 | 550,000 | 634,846 | 531,123 | 256,473 | 206,473 | 7,748 | 3,900 | 3,825 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Tax receivable agreement obligations | |||||||||||||||||||||||
0 | - | - | - | 0 | - | - | - | - | 7,045 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Debt issuance costs | |||||||||||||||||||||||
9,944 | 35,702 | 35,702 | 36,784 | 37,282 | 2,261 | 6,238 | 57,684 | 56,505 | 56,505 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - |
Net cash provided by (used in) financing activities | |||||||||||||||||||||||
-63,072 | 769,580 | 852,726 | 723,910 | 683,945 | -835,482 | -880,752 | -694,704 | 527,472 | 889,797 | 971,344 | 960,294 | -139,305 | -161,237 | -160,479 | -124,135 | -129,151 | -144,355 | 0 | 0 | 0 | - | - | - |
Effect of exchange rate changes on cash and cash equivalents | |||||||||||||||||||||||
-8,467 | -1,475 | -11,410 | -4,471 | -11,060 | -5,127 | -2,896 | 433 | 10,861 | 9,117 | 5,352 | 3,208 | -2,874 | -1,165 | -3,067 | 10 | 2,872 | -4,255 | 0 | 0 | 0 | - | - | - |
Net increase (decrease) in cash and cash equivalents | |||||||||||||||||||||||
16,874 | 37,233 | -21,114 | -162,506 | 151,019 | 203,160 | -143,246 | -624,227 | 472,341 | 351,472 | 413,180 | 1,134,939 | 16,453 | 18,180 | -15,539 | 22,377 | 81,943 | 87,371 | 0 | 0 | 0 | - | - | - |
Supplementary disclosure of cash flow information | |||||||||||||||||||||||
Cash paid for interest | |||||||||||||||||||||||
226,203 | 205,433 | 177,787 | 165,075 | 140,734 | 139,412 | 142,560 | 142,627 | 130,417 | 112,982 | 70,569 | 61,349 | 54,283 | 54,872 | 59,415 | 59,334 | 63,001 | 63,230 | 0 | 0 | 0 | - | - | - |
Cash paid for taxes | |||||||||||||||||||||||
13,945 | 12,273 | 14,657 | 18,716 | 95,006 | 93,991 | 84,569 | 78,413 | 4,217 | 5,976 | 6,911 | 11,481 | 16,563 | 16,175 | 0 | 0 | 0 | - | - | - | - | - | - | - |
Non-cash investing activities | |||||||||||||||||||||||
Share-based and accrued incentive compensation to developers relating to capitalized software | |||||||||||||||||||||||
4,822 | 2,135 | 2,315 | 3,052 | 3,297 | 2,936 | 2,212 | 1,602 | 1,147 | 1,605 | -989 | 624 | 2,736 | 2,750 | -8,955 | -9,195 | 10,678 | 11,278 | 0 | 0 | 0 | - | - | - |
Non-cash financing activities | |||||||||||||||||||||||
Tax receivable agreement described in Note 6 | |||||||||||||||||||||||
- | - | - | - | - | -991 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Discount on issuance of senior secured credit facility | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Net increase in cash | |||||||||||||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0 |
ITG | |||||||||||||||||||||||
ITG Acquisition, net of cash acquired, described in Note 3 | |||||||||||||||||||||||
0 | 835,581 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Common Class C [Member] | |||||||||||||||||||||||
Repurchase of stock | |||||||||||||||||||||||
- | - | - | - | - | 8,216 | 0 | 0 | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Treasury Stock | |||||||||||||||||||||||
Repurchase of stock | |||||||||||||||||||||||
0 | - | - | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |