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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:      
Consolidated net income (loss) $ 38,775 $ 58,867 $ 153,488
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:      
Gain on Insurance Business Disposition 0 0 (312,941)
Fixed asset depreciation and intangible asset amortization 80,417 75,054 81,874
Employee loan amortization and reserves on employee loans 51,313 49,533 217,655
Equity-based compensation and allocations of net income to limited partnership units and FPUs 355,378 251,071 256,164
Deferred compensation expense 54 (542) 347
Losses (gains) on equity method investments (9,152) (10,920) (6,706)
Unrealized/realized losses (gains) on financial instruments owned, at fair value and other investments (4,406) 1,208 17
Amortization of discount (premium) on notes payable 3,662 2,801 3,592
Impairment of fixed assets, intangible assets and investments 3,144 6,139 11,246
Deferred tax provision (benefit) (60,556) (14,628) (11,947)
Change in estimated acquisition earn-out payables 1,442 1,034 4,285
Forfeitures of Class A common stock (1,190) (263) (553)
Loss (gain) on divestiture 0 1,029 0
Other 0 (1,914) (4,915)
Consolidated net income (loss), adjusted for non-cash and non-operating items 458,881 418,469 391,606
Decrease (increase) in operating assets:      
Financial instruments owned, at fair value (5,475) 2,383 17,626
Receivables from broker-dealers, clearing organizations, customers and related broker-dealers 212,490 222,567 (482,669)
Accrued commissions receivable, net (5,750) 6,287 (101,314)
Loans, forgivable loans and other receivables from employees and partners, net (77,464) (61,205) (38,571)
Receivables from related parties (1,380) 3,621 8,377
Other assets 19,803 (8,469) 1,543
Increase (decrease) in operating liabilities:      
Accrued compensation 18,450 (25,178) 17,989
Payables to broker-dealers, clearing organizations, customers and related broker-dealers (203,902) (252,490) 477,083
Payables to related parties 24,145 (43,782) 18,596
Accounts payable, accrued and other liabilities (34,595) (37,841) 106,919
Net cash provided by (used in) operating activities 405,203 224,362 417,185
CASH FLOWS FROM INVESTING ACTIVITIES:      
Gross proceeds from Insurance Business Disposition 0 0 534,916
Cash and restricted cash transferred as part of Insurance Business Disposition 0 0 (369,407)
Proceeds from disposal of subsidiary 0 512 0
Purchases of fixed assets (14,924) (10,591) (10,112)
Capitalization of software development costs (44,974) (48,169) (43,178)
Purchase of equity method investments 0 (588) (1,115)
Proceeds from equity method investments 9,421 6,118 10,029
Payments for acquisitions, net of cash acquired (39,755) 0 0
Purchase of other assets (475) (612) 0
Net cash provided by (used in) investing activities (90,707) (53,330) 121,133
CASH FLOWS FROM FINANCING ACTIVITIES:      
Repayments of long-term debt and collateralized borrowings (623,251) (6,391) (566,244)
Issuance of long-term debt and collateralized borrowings, net of deferred issuance costs 754,321 (75) 298,419
Earnings distributions to limited partnership interests and other noncontrolling interests (19,041) (28,877) (52,169)
Redemption and repurchase of equity awards (117,867) (76,219) (110,565)
Dividends to stockholders (17,381) (14,859) (15,098)
Repurchase of Class A common stock (114,580) (103,888) (365,398)
Proceeds from sale of Cantor units in BGC Holdings 11,539 1,487 7,894
Pre-acquisition cash capital contribution to Futures Exchange Group 0 0 3,845
Acquisition of Futures Exchange Group 0 0 (9,022)
Short term borrowings, net of repayments (1,917) 0 0
Payments on acquisition earn-outs (18,703) (4,384) (11,199)
Net cash provided by (used in) financing activities (146,880) (233,206) (819,537)
Effect of exchange rate changes on Cash and cash equivalents, and Cash segregated under regulatory requirements 3,270 (2,615) (5,388)
Net increase (decrease) in cash and cash equivalents 170,886 (64,789) (286,607)
Cash and cash equivalents, and Cash segregated under regulatory requirements at beginning of period 502,010 566,799 853,406
Cash and cash equivalents, and Cash segregated under regulatory requirements at end of period 672,896 502,010 566,799
Supplemental cash information:      
Cash paid during the period for taxes 70,718 35,782 43,357
Cash paid during the period for interest 80,664 53,655 66,450
Supplemental non-cash information:      
Issuance of Class A common stock upon exchange of limited partnership interests 45,868 34,889 157,547
Issuance Of Class Common Stock And Limited Partnership Interests For Acquisitions 7,275 2,710 1,160
ROU assets and liabilities $ 27,201 $ 44,123 $ 7,367