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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:      
Consolidated net income (loss) $ 58,867 $ 153,488 $ 50,918
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:      
Gain on Insurance Business Disposition 0 (312,941) 0
Fixed asset depreciation and intangible asset amortization 75,054 81,874 85,422
Employee loan amortization and reserves on employee loans 49,533 217,655 67,032
Equity-based compensation and allocations of net income to limited partnership units and FPUs 251,071 256,164 183,545
Deferred compensation expense (542) 347 630
Losses (gains) on equity method investments (10,920) (6,706) (1,126)
Unrealized/realized losses (gains) on financial instruments owned, at fair value and other investments 1,208 17 73
Amortization of discount (premium) on notes payable 2,801 3,592 4,187
Impairment of fixed assets, intangible assets and investments 6,139 11,246 11,431
Deferred tax provision (benefit) (14,628) (11,947) (16,549)
Change in estimated acquisition earn-out payables 1,034 4,285 4,661
Forfeitures of Class A common stock (263) (553) 0
Loss (gain) on divestiture 1,029 0 0
Other (1,914) (4,915) 2,730
Consolidated net income (loss), adjusted for non-cash and non-operating items 418,469 391,606 392,954
Decrease (increase) in operating assets:      
Financial instruments owned, at fair value 2,383 17,626 (1,346)
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers 222,567 (482,669) 246,498
Accrued commissions receivable, net 6,287 (101,314) 44,389
Loans, forgivable loans and other receivables from employees and partners, net (61,205) (38,571) (149,145)
Receivables from related parties 3,621 8,377 5,465
Other assets (8,469) 1,543 (20,074)
Increase (decrease) in operating liabilities:      
Financial instruments loaned, at fair value 0 0 (13,902)
Accrued compensation (25,178) 17,989 13,752
Payables to broker-dealers, clearing organizations, customers and related broker-dealers (252,490) 477,083 (236,314)
Payables to related parties (43,782) 18,596 (37,613)
Accounts payable, accrued and other liabilities (37,841) 106,919 57,949
Net cash provided by (used in) operating activities 224,362 417,185 302,613
CASH FLOWS FROM INVESTING ACTIVITIES:      
Gross proceeds from Insurance Business Disposition 0 534,916 0
Cash and restricted cash transferred as part of Insurance Business Disposition 0 (369,407) 0
Proceeds from disposal of subsidiary 512 0 0
Purchases of fixed assets (10,591) (10,112) (30,829)
Capitalization of software development costs (48,169) (43,178) (54,342)
Purchase of equity method investments (588) (1,115) (1,458)
Proceeds from equity method investments 6,118 10,029 4,326
Payments for acquisitions, net of cash acquired 0 0 (7,871)
Proceeds from sale of financial instruments owned, at fair value 0 0 14,237
Purchase of other assets (612) 0 (2,000)
Net cash provided by (used in) investing activities (53,330) 121,133 (77,937)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayments of debt and collateralized borrowings (6,391) (566,244) (357,789)
Issuance of debt and collateralized borrowings, net of deferred issuance costs (75) 298,419 524,396
Earnings distributions to limited partnership interests and other noncontrolling interests (28,877) (52,169) (63,109)
Redemption and repurchase of limited partnership interests (76,219) (110,565) (47,613)
Dividends to stockholders (14,859) (15,098) (60,440)
Repurchase of Class A common stock (103,888) (365,398) (6)
Proceeds from sale of Cantor Units in BGC Holdings 1,487 7,894 0
Pre-acquisition cash capital contribution to Futures Exchange Group 0 3,845 0
Acquisition of Futures Exchange Group 0 (9,022) 0
Payments on acquisition earn-outs (4,384) (11,199) (8,540)
Net cash provided by (used in) financing activities (233,206) (819,537) (13,101)
Effect of exchange rate changes on Cash and cash equivalents, and Cash segregated under regulatory requirements (2,615) (5,388) 993
Net increase (decrease) in cash and cash equivalents (64,789) (286,607) 212,568
Cash and cash equivalents, and Cash segregated under regulatory requirements at beginning of period 566,799 853,406 640,838
Cash and cash equivalents, and Cash segregated under regulatory requirements at end of period 502,010 566,799 853,406
Supplemental cash information:      
Cash paid during the period for taxes 35,782 43,357 41,910
Cash paid during the period for interest 53,655 66,450 69,572
Supplemental non-cash information:      
Issuance of Class A common stock upon exchange of limited partnership interests 34,889 157,547 11,388
Issuance Of Class Common Stock And Limited Partnership Interests For Acquisitions 2,710 1,160 1,578
ROU assets and liabilities $ 44,123 $ 7,367 $ 34,456