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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Consolidated net income (loss) $ 17,512 $ 55,269
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:    
Fixed asset depreciation and intangible asset amortization 60,117 55,786
Employee loan amortization and reserves on employee loans 35,645 35,083
Equity-based compensation and allocations of net income to limited partnership units and FPUs 277,285 161,739
Deferred compensation expense 38 75
Losses (gains) on equity method investments (6,568) (8,762)
Unrealized/realized losses (gains) on financial instruments owned, at fair value and other investments 914 1,434
Amortization of discount (premium) on notes payable 2,708 2,099
Impairment of fixed assets, intangible assets and investments 3,013 5,568
Deferred tax provision (benefit) (22,678) 2,025
Change in estimated acquisition earn-out payables 723 (516)
Forfeitures of Class A common stock (796) (188)
Other 0 (1,914)
Consolidated net income (loss), adjusted for non-cash and non-operating items 367,913 307,698
Decrease (increase) in operating assets:    
Financial instruments owned, at fair value (5,562) 2,976
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers (614,776) (1,416,538)
Accrued commissions receivable, net (26,848) (4,081)
Loans, forgivable loans and other receivables from employees and partners, net (47,525) (51,719)
Receivables from related parties (4,570) (1,522)
Other assets 6,348 (10,829)
Increase (decrease) in operating liabilities:    
Repurchase agreements 0 1,013
Accrued compensation (6,902) (23,341)
Payables to broker-dealers, clearing organizations, customers and related broker-dealers 597,329 1,355,361
Payables to related parties 9,243 24,689
Accounts payable, accrued and other liabilities (42,949) (51,770)
Net cash provided by (used in) operating activities 231,701 131,937
CASH FLOWS FROM INVESTING ACTIVITIES:    
Purchases of fixed assets (9,101) (6,434)
Capitalization of software development costs (33,946) (35,075)
Purchase of equity method investments 0 (588)
Proceeds from equity method investments 9,467 6,118
Payments for acquisitions, net of cash and restricted cash acquired (26,502) 0
Purchase of assets (399) (445)
Net cash provided by (used in) investing activities (60,481) (36,424)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Repayments of long-term debt and collateralized borrowings (623,251) (4,779)
Issuance of long-term debt and collateralized borrowings, net of deferred issuance costs 755,212 (45)
Earnings distributions to limited partnership interests and other noncontrolling interests (19,041) (25,244)
Redemption and repurchase of equity awards (102,494) (46,310)
Dividends to stockholders (12,267) (11,143)
Repurchase of Class A common stock (86,537) (79,295)
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 (97,459) (170,253)
Effect of exchange rate changes on Cash and cash equivalents and Cash segregated under regulatory requirements 223 (6,198)
Net increase (decrease) in Cash and cash equivalents, and Cash segregated under regulatory requirements 73,984 (80,938)
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 575,994 485,861
Supplemental cash information:    
Cash paid during the period for taxes 47,449 32,267
Cash paid during the period for interest 47,791 39,864
Supplemental non-cash information:    
Issuance of Class A common stock upon exchange of limited partnership interests 45,868 34,480
Issuance of Class A and contingent Class A common stock and limited partnership interests for acquisitions 7,275 2,710
ROU assets and liabilities $ 27,075 $ 16,494