Parent Company (Tables) - Virtu Financial, Inc.

12 Months Ended

Dec. 31, 2016

Condensed Statements of Financial Condition

	As of December 31,
(In thousands except interest data)	2016		2015
Assets
Cash	$	17,149	$	187
Deferred tax asset		192,961		193,153
Investment in subsidiary		165,204		157,887
Receivable from subsidiaries		—		15
Other assets		1,892		1
Total assets	$	377,206	$	351,243
Liabilities, redeemable membership interest and equity
Liabilities
Payable to affiliate	$	129	$	—
Accounts payable and accrued expenses and other liabilities		—		2,136
Tax receivable agreement obligations		231,404		218,399
Total liabilities	$	231,533	$	220,535
Stockholders' equity
Class A common stock (par value $0.00001), Authorized — 1,000,000,000 and 1,000,000,000 shares, Issued    — 40,436,580 and 38,379,858 shares, Outstanding — 39,983,514 and 38,210,209 shares at December 31, 2016 and 2015, respectively		—		—
Class B common stock (par value $0.00001), Authorized — 175,000,000 and 175,000,000 shares, Issued and Outstanding — 0 and 0 shares at December 31, 2016 and 2015, respectively		—		—
Class C common stock (par value $0.00001), Authorized — 90,000,000 and 90,000,000 shares, Issued — 19,810,707 and 20,976,598 shares, Outstanding — 19,810,707 and 20,976,598, at December 31, 2016 and 2015, respectively		—		—
Class D common stock (par value $0.00001), Authorized — 175,000,000 and 175,000,000 shares, Issued  and Outstanding — 79,610,490 and 79,610,490 shares at December 31, 2016 and 2015, respectively		1		1
Treasury stock, at cost, 453,066 and 169,649 shares at December 31, 2016 and 2015, respectively		(8,358)		(3,819)
Additional paid-in capital		155,536		130,902
(Accumulated deficit) Retained earnings		(1,254)		3,525
Accumulated other comprehensive (loss) income		(252)		99
Total stockholders' equity	$	145,673	$	130,708
Total liabilities and stockholders' equity	$	377,206	$	351,243

Condensed Statements of Comprehensive Income

	For the Years Ended
	December 31,
(in thousands)	2016		2015		2014
Revenues:
Service fee revenue	$	—	$	445	$	13,492
Operating Expenses:
Operations and administrative		198		447		13,492
Income (loss) before equity in income of subsidiary		(198)		(2)		—
Equity in income of subsidiary, net of tax		33,178		104,036		190,057
Net income	$	32,980	$	104,034	$	190,057
Net income attributable to common stockholders		32,980		20,887		—
Other comprehensive income (loss):
Foreign currency translation adjustment, net of taxes		(351)		(4,534)		(5,032)
Comprehensive income	$	32,629	$	16,353	$	185,025

Condensed Statements of Cash Flows

	For the Years Ended
	December 31,
(in thousands)	2016		2015		2014
Cash flows from operating activities
Net income	$	32,980	$	104,034	$	190,057
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income of subsidiary, net of tax		157,975		(18,237)		(24,469)
Deferred taxes		13,197		3,392		—
Changes in operating assets and liabilities:		(4,012)		5,900		(14,056)
Net cash provided by operating activities		200,140		95,089		151,532
Cash flows from investing activities
Investments in subsidiaries, equity basis		24,893		64,624		15,953
Net cash provided by investing activities		24,893		64,624		15,953
Cash flows from financing activities
Distribution to members through April 15, 2015		—		(130,000)		(140,652)
Distribution from Virtu Financial to non-controlling interest, after April 15, 2015		(162,969)		(81,377)		—
Dividends		(37,759)		(17,362)		—
Proceeds from issuance of Class A-2 interests in connection with the Temasek transaction described in Note 13		—		—		3,048
Repurchase of Class A-2 interests in connection with the Temasek transaction described in Note 13		—		—		(3,048)
Payments on repurchase of non-voting common interest		(2,000)		(2,097)		(916)
Repurchase of Class C common stock		(98)		—		—
Purchase of treasury stock		(4,539)		(3,819)		—
Issuance of common stock, net of offering costs		—		327,366		—
Repurchase of Virtu Financial Units and corresponding number of Class A and C common stock in connections with IPO		—		(277,153)		—
Issuance of common stock in connection with secondary offering, net of offering costs		16,677		7,782		—
Repurchase of Virtu Financial Units and corresponding number of Class C common stock in connection with secondary offering		(17,383)		(8,805)		—
Net cash used in financing activities	$	(208,071)	$	(185,465)	$	(141,568)
Net increase (decrease) in Cash	$	16,962	$	(25,752)	$	25,917
Cash, beginning of period		187		25,939		22
Cash, end of period	$	17,149	$	187	$	25,939
Supplemental disclosure of cash flow information:
Taxes paid	$	8,813	$	5,615	$	—
Non-cash financing activities
Tax receivable agreement described in Note 4		-		(21,854)		-
Secondary offerings described in Note 13		1,350		-		-
Temasek transaction described in Note 13		-		-		-
Repurchase of Class A-2 interests		-		-		(6,000)