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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash flows from operating activities    
Net (loss) income $ 230,139 $ 44,584
Loss from discontinued operations, net of tax 0 (1,320)
Income from continuing operations, net of tax 230,139 45,904
Adjustments to reconcile income from continuing operations, net of tax to net cash (used in) provided by operating activities    
Realized gain from sale of KCG Hotspot (385,026) 0
Deferred taxes (25,781) 0
Unrealized gain on investments (4,661) (15,140)
Stock and unit-based compensation 56,422 32,907
Depreciation and amortization 41,341 39,926
Debt discount accretion and other debt related expenses 10,627 11,557
Other real estate related charges 6,459 2,207
Deferred rent 421 (129)
Receivable from BATS (709) 0
Operating activities from discontinued operations 0 (1,119)
(Increase) decrease in operating assets    
Cash and cash equivalents segregated under federal and other regulations (239) (51,267)
Financial instruments owned, at fair value 11,645 (167,968)
Securities borrowed (239,250) (245,080)
Receivable from brokers, dealers and clearing organizations 498,543 (331,675)
Other assets (32,938) (8,009)
(Decrease) increase in operating liabilities    
Financial instruments sold, not yet purchased, at fair value (247,549) 236,612
Securities loaned 33,988 91,433
Financial instruments sold under agreements to repurchase 62,091 309,160
Payable to brokers, dealers and clearing organizations (146,341) 173,012
Payable to customers 16,172 141,323
Accrued compensation expense (49,374) (60,825)
Accrued expenses and other liabilities 6,965 (10,993)
Income taxes payable 64,107 0
Net cash (used in) provided by operating activities (92,948) 191,836
Cash flows from investing activities    
Cash received from sale of KCG Hotspot, net of cash provided 360,928 0
Proceeds and distributions from investments 2,517 48,627
Purchases of fixed assets and leasehold improvements (13,238) (14,781)
Capitalized software development costs (9,244) (5,615)
Purchases of investments (2,376) (593)
Sale of trading rights 0 554
Net cash provided by investing activities 338,587 28,192
Cash flows from financing activities    
Repayment of Credit Agreement 0 (235,000)
Proceeds from issuance of 6.875% Senior Secured Notes, net 494,810 0
Repayment of 8.25% Senior Secured Notes (305,000) 0
Repayment of convertible notes (117,259) 0
Payment of debt issuance costs (12,645) 0
Borrowings under capital lease obligations 0 4,525
Principal payments on capital lease obligations (2,823) (5,342)
Cost of common stock repurchased - Tender Offer (330,000) 0
Cost of common stock repurchased (10,653) (58,119)
Stock options exercised 1,046 0
Warrants exercised 247 0
Income tax provision on stock awards exercised 218 0
Net cash used in financing activities (282,059) (293,936)
Effect of exchange rate changes on cash and cash equivalents (1,056) 492
(Decrease) increase in cash and cash equivalents (37,476) (73,416)
Cash and cash equivalents at beginning of period 578,768 674,281
Cash and cash equivalents at end of period 541,292 600,865
Supplemental disclosure of cash flow information:    
Cash paid for interest 39,140 39,129
Cash paid for income taxes 63,242 14,040
Non-cash investing activities - Contribution of fixed assets to joint venture $ 1,927 $ 0