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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:      
Consolidated net income (loss) $ 153,488 $ 50,918 $ 66,816
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:      
Gain on Insurance Business Disposition (312,941) 0 0
Fixed asset depreciation and intangible asset amortization 81,874 85,422 81,868
Employee loan amortization and reserves on employee loans 217,655 67,032 35,650
Equity-based compensation and allocations of net income to limited partnership units and FPUs 256,164 183,545 170,625
Deferred compensation expense 347 630 5,879
Losses (gains) on equity method investments (6,706) (1,126) (4,115)
Realized losses (gains) on marketable securities 0 (289) (3,528)
Unrealized losses (gains) on marketable securities (56) (69) (3,204)
Loss (gains) on other investments 73 431 (18,163)
Amortization of discount (premium) on notes payable 3,592 4,187 3,223
Impairment of fixed assets, intangible assets and investments 11,246 11,431 4,536
Deferred tax provision (benefit) (11,947) (16,549) (4,196)
Change in estimated acquisition earn-out payables 4,285 4,661 5,622
Forfeitures of Class A common stock (553) 0 (139)
Other (4,915) 2,730 (5,682)
Consolidated net income (loss), adjusted for non-cash and non-operating items 391,606 392,954 335,192
Decrease (increase) in operating assets:      
Securities owned 17,626 (1,346) 883
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers (482,669) 246,498 389,058
Accrued commissions receivable, net (101,314) 44,389 (22,287)
Loans, forgivable loans and other receivables from employees and partners, net (38,571) (149,145) (119,469)
Receivables from related parties 8,377 5,465 (4,215)
Other assets 1,543 (20,074) 5,239
Increase (decrease) in operating liabilities:      
Repurchase agreements 0 0 (986)
Securities loaned 0 (13,902) (1,238)
Accrued compensation 17,989 13,752 (7,231)
Payables to broker-dealers, clearing organizations, customers and related broker-dealers 477,083 (236,314) (353,281)
Payables to related parties 18,596 (37,613) 36,855
Accounts payable, accrued and other liabilities 106,919 57,949 (17,420)
Net cash provided by (used in) operating activities 417,185 302,613 241,100
CASH FLOWS FROM INVESTING ACTIVITIES:      
Gross proceeds from Insurance Business Disposition 534,916 0 0
Cash and restricted cash transferred as part of Insurance Business Disposition (369,407) 0 0
Purchases of fixed assets (10,112) (30,829) (46,665)
Capitalization of software development costs (43,178) (54,342) (50,833)
Purchase of equity method investments (1,115) (1,458) (1,715)
Proceeds from equity method investments 10,029 4,326 3,737
Payments for acquisitions, net of cash acquired 0 (7,871) 28,261
Proceeds from sale of marketable securities 0 14,237 24,626
Purchase of other assets 0 (2,000) 0
Net cash provided by (used in) investing activities 121,133 (77,937) (42,589)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayments of long-term debt and collateralized borrowings (566,244) (357,789) (332,378)
Issuance of long-term debt and collateralized borrowings, net of deferred issuance costs 298,419 524,396 709,849
Earnings distributions to limited partnership interests and other noncontrolling interests (52,169) (63,109) (113,673)
Redemption and repurchase of limited partnership interests (110,565) (47,613) (43,270)
Dividends to stockholders (15,098) (60,440) (192,442)
Repurchase of Class A common stock (365,398) (6) (1,236)
Cancellation of RSUs in satisfaction of withholding tax requirements 0 0 (458)
Proceeds from sale of Cantor Units in BGC Holdings 7,894 0 0
Pre-acquisition cash capital contribution to Futures Exchange Group 3,845 0 0
Acquisition of Futures Exchange Group (9,022) 0 0
Payments on acquisition earn-outs (11,199) (8,540) (8,146)
Net cash provided by (used in) financing activities (819,537) (13,101) 18,246
Effect of exchange rate changes on Cash and cash equivalents, and Cash segregated under regulatory requirements (5,388) 993 2,630
Net increase (decrease) in cash and cash equivalents (286,607) 212,568 219,387
Cash and cash equivalents, and Cash segregated under regulatory requirements at beginning of period 853,406 640,838 421,451
Cash and cash equivalents, and Cash segregated under regulatory requirements at end of period 566,799 853,406 640,838
Supplemental cash information:      
Cash paid during the period for taxes 43,357 41,910 47,997
Cash paid during the period for interest 66,450 69,572 51,776
Supplemental non-cash information:      
Issuance of Class A common stock upon exchange of limited partnership interests 157,547 11,388 26,146
Issuance Of Class Common Stock And Limited Partnership Interests For Acquisitions 1,160 1,578 3,040
ROU assets and liabilities $ 7,367 $ 34,456 $ 169,065