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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income (loss) $ 55,269 $ 64,695
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:    
Fixed asset depreciation and intangible asset amortization 55,786 63,550
Employee loan amortization and reserves on employee loans 35,083 45,746
Equity-based compensation and allocations of net income to limited partnership units and FPUs 161,739 170,275
Deferred compensation expense 75 321
Losses (gains) on equity method investments (8,762) (4,671)
Unrealized/realized losses (gains) on financial instruments owned, at fair value and other investments 1,434 (66)
Amortization of discount (premium) on notes payable 2,099 2,838
Impairment of fixed assets, intangible assets and investments 5,568 3,893
Deferred tax provision (benefit) 2,025 (4,984)
Change in estimated acquisition earn-out payables (516) 2,013
Forfeitures of Class A common stock (188) (553)
Other (1,914) (4,178)
Consolidated net income (loss), adjusted for non-cash and non-operating items 307,698 338,879
Decrease (increase) in operating assets:    
Financial instruments owned, at fair value 2,976 21,039
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers (1,416,538) (1,517,376)
Accrued commissions receivable, net (4,081) (80,883)
Loans, forgivable loans and other receivables from employees and partners, net (51,719) (25,821)
Receivables from related parties (1,522) 4,749
Other assets (10,829) (15,409)
Increase (decrease) in operating liabilities:    
Repurchase agreements 1,013 2,997
Accrued compensation (23,341) (24,761)
Payables to broker-dealers, clearing organizations, customers and related broker-dealers 1,355,361 1,483,416
Payables to related parties 24,689 59,073
Accounts payable, accrued and other liabilities (51,770) 60,218
Net cash provided by (used in) operating activities 131,937 306,121
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (6,434) (8,046)
Capitalization of software development costs (35,075) (31,707)
Purchase of equity method investments (588) (870)
Proceeds from equity method investments 6,118 9,932
Purchase of assets (445) 0
Net cash provided by (used in) investing activities (36,424) (30,691)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of long-term debt and collateralized borrowings (4,779) (264,669)
Issuance of long-term debt and collateralized borrowings, net of deferred issuance costs (45) 298,427
Earnings distributions to limited partnership interests and other noncontrolling interests (25,244) (42,929)
Redemption and repurchase of limited partnership interests (46,310) (79,183)
Dividends to stockholders (11,143) (11,444)
Repurchase of Class A common stock (79,295) (227,052)
Proceeds from sale of Cantor Units in BGC Holdings 947 5,145
Short term borrowings, net of repayments 0 0
Pre-acquisition cash capital contribution to Futures Exchange Group 0 3,845
Acquisition of Futures Exchange Group 0 (9,022)
Payments on acquisition earn-outs (4,384) (11,199)
Net cash provided by (used in) financing activities (170,253) (338,081)
Effect of exchange rate changes on Cash and cash equivalents and Cash segregated under regulatory requirements (6,198) (5,507)
Net increase (decrease) in Cash and cash equivalents, and Cash segregated under regulatory requirements including Cash and Cash segregated under regulatory requirements classified within Assets held for sale (80,938) (68,158)
Less: Net increase (decrease) in cash classified within Assets held for sale 0 (315,359)
Net increase (decrease) in Cash and cash equivalents, and Cash segregated under regulatory requirements (80,938) (383,517)
Cash and cash equivalents and Cash segregated under regulatory requirements at beginning of period 566,799 853,406
Cash and cash equivalents and Cash segregated under regulatory requirements at end of period 485,861 469,889
Supplemental cash information:    
Cash paid during the period for taxes 32,267 33,055
Cash paid during the period for interest 39,864 51,026
Supplemental non-cash information:    
Issuance of Class A common stock upon exchange of limited partnership interests 34,480 145,680
Issuance of Class A and contingent Class A common stock and limited partnership interests for acquisitions 2,710 1,160
ROU assets and liabilities $ 16,494 $ 2,947