XML 53 R8.htm IDEA: XBRL DOCUMENT v2.4.1.9
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities      
Net income $ 74,806us-gaap_NetIncomeLoss $ 76,016us-gaap_NetIncomeLoss $ 60,069us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,379us-gaap_DepreciationAmortizationAndAccretionNet 13,051us-gaap_DepreciationAmortizationAndAccretionNet 8,233us-gaap_DepreciationAmortizationAndAccretionNet
Stock-based compensation expense 9,769us-gaap_ShareBasedCompensation 8,879us-gaap_ShareBasedCompensation 8,385us-gaap_ShareBasedCompensation
Deferred taxes (374)us-gaap_DeferredIncomeTaxExpenseBenefit (1,331)us-gaap_DeferredIncomeTaxExpenseBenefit (643)us-gaap_DeferredIncomeTaxExpenseBenefit
Gain on the sale of discontinued operations   (7,642)us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax  
Other 1,725us-gaap_OtherNoncashIncomeExpense (296)us-gaap_OtherNoncashIncomeExpense 1,204us-gaap_OtherNoncashIncomeExpense
Changes in operating assets and liabilities:      
Decrease (increase) in accounts receivable 827us-gaap_IncreaseDecreaseInAccountsReceivable (1,714)us-gaap_IncreaseDecreaseInAccountsReceivable 4,607us-gaap_IncreaseDecreaseInAccountsReceivable
Decrease (increase) in prepaid expenses and other assets 3,344us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,846)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets 412us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Increase in accrued employee compensation 1,309us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities 4,010us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities 320us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities
Increase (decrease) in income and other tax liabilities 2,365us-gaap_IncreaseDecreaseInIncomeTaxes 2,959us-gaap_IncreaseDecreaseInIncomeTaxes (2,871)us-gaap_IncreaseDecreaseInIncomeTaxes
(Decrease) in deferred revenue (248)us-gaap_IncreaseDecreaseInDeferredRevenue (1,571)us-gaap_IncreaseDecreaseInDeferredRevenue (462)us-gaap_IncreaseDecreaseInDeferredRevenue
(Decrease) increase in accounts payable, accrued expenses and other liabilities (950)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 364us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities 2,328us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Net cash provided by operating activities 109,952us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 90,879us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 81,582us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash flows from investing activities      
Acquisition of business, net of cash acquired   (37,827)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired  
Cash proceeds from the sale of discontinued operations, net of cash sold   9,346us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested  
Securities available-for-sale:      
Proceeds from sales   30,900us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities 23,663us-gaap_ProceedsFromSaleOfAvailableForSaleSecurities
Proceeds from maturities 17,574us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 12,515us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities 18,313us-gaap_ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
Purchases (16,423)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (60,755)us-gaap_PaymentsToAcquireAvailableForSaleSecurities (16,543)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Purchases of furniture, equipment and leasehold improvements (4,627)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (15,337)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment (5,153)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Capitalization of software development costs (10,160)us-gaap_PaymentsToDevelopSoftware (7,945)us-gaap_PaymentsToDevelopSoftware (5,207)us-gaap_PaymentsToDevelopSoftware
Other 611us-gaap_PaymentsForProceedsFromOtherInvestingActivities (18)us-gaap_PaymentsForProceedsFromOtherInvestingActivities (43)us-gaap_PaymentsForProceedsFromOtherInvestingActivities
Net cash (used in ) provided by investing activities (13,025)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (69,121)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations 15,030us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash flows from financing activities      
Cash dividend on common stock (23,941)us-gaap_PaymentsOfOrdinaryDividends (19,837)us-gaap_PaymentsOfOrdinaryDividends (64,041)us-gaap_PaymentsOfOrdinaryDividends
Exercise of stock options 2,511us-gaap_ProceedsFromStockOptionsExercised 3,039us-gaap_ProceedsFromStockOptionsExercised 8,525us-gaap_ProceedsFromStockOptionsExercised
Withholding tax payments on restricted stock vesting and stock option exercises (5,020)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation (5,001)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation (20,003)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation
Excess tax benefits from stock-based compensation 4,243us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 5,032us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities 14,775us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Repurchases of common stock (37,974)us-gaap_PaymentsForRepurchaseOfCommonStock   (75,133)us-gaap_PaymentsForRepurchaseOfCommonStock
Other (42)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (307)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (298)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash (used in) financing activities (60,223)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (17,074)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (136,175)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Effect of exchange rate changes on cash and cash equivalents (471)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (901)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (1,149)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Cash and cash equivalents      
Net increase (decrease) for the period 36,233us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 3,783us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (40,712)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Beginning of period 132,691us-gaap_CashAndCashEquivalentsAtCarryingValue 128,908us-gaap_CashAndCashEquivalentsAtCarryingValue 169,620us-gaap_CashAndCashEquivalentsAtCarryingValue
End of period 168,924us-gaap_CashAndCashEquivalentsAtCarryingValue 132,691us-gaap_CashAndCashEquivalentsAtCarryingValue 128,908us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the year      
Cash paid for income taxes 33,627us-gaap_IncomeTaxesPaidNet 30,768us-gaap_IncomeTaxesPaidNet 15,102us-gaap_IncomeTaxesPaidNet
Non-cash investing and financing activity:      
Conversion of common stock non-voting to common stock voting     15,880mktx_ConversionOfCommonStockNonVotingToCommonStockVotingAmountConverted
Liabilities assumed in connection with the Xtrakter acquisition:      
Fair value of assets acquired   44,791us-gaap_NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1  
Cash paid for the capital stock   (37,827)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired  
Liabilities assumed   $ 6,964us-gaap_NoncashOrPartNoncashAcquisitionValueOfLiabilitiesAssumed1