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Accumulated Other Comprehensive Income
 9 Months Ended
Sep. 30, 2016
Equity [Abstract]  
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income
The following table presents changes in Accumulated other comprehensive income (loss), net of tax by component for the three and nine months ended September 30, 2016 and 2015 (in thousands):
 
 
Unrealized Gains on Available-for-Sale Securities
 
Foreign Currency Translation Adjustments
 
Total
Balance, June 30, 2016
 
$
234

 
$
(450
)
 
$
(216
)
Other comprehensive income (loss)
 
88

 
18

 
106

Balance September 30, 2016
 
$
322

 
$
(432
)
 
$
(110
)
 
 
Unrealized Gains on Available-for-Sale Securities
 
Foreign Currency Translation Adjustments
 
Total
Balance, December 31, 2015
 
$
150

 
$
200

 
$
350

Other comprehensive income (loss)
 
172

 
(632
)
 
(460
)
Balance September 30, 2016
 
$
322

 
$
(432
)
 
$
(110
)

 
 
Unrealized Gains (Losses) on Available-for-Sale Securities
 
Foreign Currency Translation Adjustments
 
Total
Balance June 30, 2015
 
$
489

 
$
725

 
$
1,214

Other comprehensive loss
 
(4
)
 
(595
)
 
(599
)
Amount reclassified from Available-for-sale securities
 
(308
)
 
—

 
(308
)
Net current period other comprehensive loss
 
$
(312
)
 
$
(595
)
 
$
(907
)
Balance September 30, 2015
 
$
177

 
$
130

 
$
307

 
 
Unrealized Gains (Losses) on Available-for-Sale Securities
 
Foreign Currency Translation Adjustments
 
Total
Balance December 31, 2014
 
$
352

 
$
1,781

 
$
2,133

Other comprehensive income (loss)
 
133

 
(1,651
)
 
(1,518
)
Amount reclassified from Available-for-sale securities
 
(308
)
 
—

 
(308
)
Net current period other comprehensive loss
 
$
(175
)
 
$
(1,651
)
 
$
(1,826
)
Balance September 30, 2015
 
$
177

 
$
130

 
$
307


The following table presents the effects of reclassifications out of Accumulated Other Comprehensive Income and into the Consolidated Statements of Operations for the three and nine months ended September 30, 2015 (in thousands):
Details about Accumulated Other Comprehensive Income Components
 
Amounts Reclassified from Other Comprehensive Income
 
Affected Line Item in the Consolidated Statement of Operations where Net Income is Presented
Available-for-sale securities:
 
 
 
 
Reclassification of unrealized net gains
 
497

 
Investment income and other, net
Related income tax expense
 
(189
)
 
Income tax (benefit) expense
 
 
$
308

 
Net of tax
Warrants and Stock Repurchase
Warrants
As a portion of the consideration in the Mergers, former GETCO unitholders received, in addition to KCG Class A Common Stock, 24.3 million Class A, Class B and Class C Warrants, which were issued in accordance with the Warrant Agreement, dated July 1, 2013, between KCG and Computershare Shareowner Services LLC (the “Warrant Agreement”) and which are subject to the terms and conditions of the Warrant Agreement.
The Warrant Agreement includes various anti-dilution and similar provisions that require adjustments to the exercise prices of the Class A, Class B and Class C Warrants and/or the number of shares of KCG Class A Common Stock issuable upon exercise of the Warrants upon certain events and actions taken by the Company, including the Company’s repurchase of KCG Class A Common Stock through a public tender offer.
As a result of the Company’s "modified Dutch auction" tender offer ("Tender Offer") in the second quarter of 2015, the exercise price of each of the Class A, Class B and Class C Warrants was adjusted in accordance with the terms of the Warrant Agreement. All other terms of the Warrants remained the same.
The adjusted exercise price for each class of Warrants and the activity for the nine months ended September 30, 2016 were as follows (Warrants in thousands):
 
Class A
 
Class B
 
Class C
 
 
Original Exercise Price
$
12.00

 
$
13.50

 
$
15.00

 
 
Adjusted Exercise Price
$
11.70

 
$
13.16

 
$
14.63

 
 
Initial term (years)
4

 
5

 
6

 
 
Expiration
7/1/2017

 
7/1/2018

 
7/1/2019

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
Warrants - Outstanding at December 31, 2015
7,097

 
7,254

 
7,254

 
21,605

Exercised
(53
)
 
(18
)
 
—

 
(71
)
Repurchased
(2,677
)
 
(2,828
)
 
(2,828
)
 
(8,333
)
Warrants - Outstanding at September 30, 2016
4,367

 
4,408

 
4,426

 
13,201


During the third quarter of 2016, the Company repurchased 0.3 million Warrants for $0.7 million. During the nine months ended September 30, 2016, the Company repurchased 8.3 million Warrants for $15.9 million.
Stock Repurchase
As of September 30, 2016, approximately $138.5 million in authority remained under the current share repurchase program, which is subject to the restrictive covenants in the 6.875% Senior Secured Notes Indenture.
See Footnote 11 "Related Parties" for additional information regarding stock and warrant repurchases.