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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income (loss) $ (1,040) $ 47,044
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:    
Fixed asset depreciation and intangible asset amortization 38,253 37,154
Employee loan amortization and reserves on employee loans 25,467 24,387
Equity-based compensation and allocations of net income to limited partnership units and FPUs 208,017 104,009
Deferred compensation expense 20 62
Losses (gains) on equity method investments (4,474) (5,532)
Unrealized/realized losses (gains) on financial instruments owned, at fair value and other investments 1,386 (1,810)
Amortization of discount (premium) on notes payable 1,904 1,396
Impairment of fixed assets, intangible assets and investments 2,767 5,226
Deferred tax provision (benefit) (5,534) 653
Change in estimated acquisition earn-out payables 613 (454)
Forfeitures of Class A common stock (796) (17)
Other 0 823
Consolidated net income (loss), adjusted for non-cash and non-operating items 266,583 212,941
Decrease (increase) in operating assets:    
Reverse repurchase agreements (200,000) 0
Financial instruments owned, at fair value (199) 2,319
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers (700,609) (1,576,645)
Accrued commissions receivable, net (26,077) (14,362)
Loans, forgivable loans and other receivables from employees and partners, net (23,681) (34,701)
Receivables from related parties (7,591) (3,652)
Other assets (1,893) (9,878)
Increase (decrease) in operating liabilities:    
Repurchase agreements 0 900
Accrued compensation (4,731) (21,387)
Payables to broker-dealers, clearing organizations, customers and related broker-dealers 660,692 1,516,012
Payables to related parties (3,949) 36,331
Accounts payable, accrued and other liabilities (39,741) (53,910)
Net cash provided by (used in) operating activities (81,196) 53,968
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (7,081) (3,444)
Capitalization of software development costs (24,470) (22,445)
Purchase of equity method investments 0 (466)
Proceeds from equity method investments 3,021 1,534
Payments for acquisitions, net of cash and restricted cash acquired (26,502) 0
Purchase of assets (240) 0
Net cash provided by (used in) investing activities (55,272) (24,821)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of long-term debt and collateralized borrowings (173,251) (3,177)
Issuance of long-term debt and collateralized borrowings, net of deferred issuance costs 516,579 (33)
Earnings distributions to limited partnership interests and other noncontrolling interests (13,818) (16,629)
Redemption and repurchase of limited partnership interests (101,496) (26,758)
Dividends to stockholders (7,558) (7,443)
Repurchase of Class A common stock (46,481) (26,408)
Proceeds from sale of Cantor Units in BGC Holdings 11,539 947
Short term borrowings, net of repayments (1,917) 0
Payments on acquisition earn-outs (18,703) (4,384)
Net cash provided by (used in) financing activities 164,894 (83,885)
Effect of exchange rate changes on Cash and cash equivalents and Cash segregated under regulatory requirements 12,171 (2,920)
Net increase (decrease) in Cash and cash equivalents, and Cash segregated under regulatory requirements 40,597 (57,658)
Cash and cash equivalents and Cash segregated under regulatory requirements at beginning of period 502,010 566,799
Cash and cash equivalents and Cash segregated under regulatory requirements at end of period 542,607 509,141
Supplemental cash information:    
Cash paid during the period for taxes 32,878 23,089
Cash paid during the period for interest 30,812 26,419
Supplemental non-cash information:    
Issuance of Class A common stock upon exchange of limited partnership interests 45,868 12,779
Issuance of Class A and contingent Class A common stock and limited partnership interests for acquisitions 2,761 2,710
ROU assets and liabilities $ 2,495 $ 15,693