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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities    
Net Income $ 25,487 $ 90,642
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 13,555 15,527
Amortization of purchased intangibles and acquired capitalized software 106 106
Debt issue cost related to debt refinancing 4,482  
Amortization of debt issuance costs and deferred financing fees 653 878
Termination of office leases   292
Share based compensation 7,249 6,228
Reserve for legal matter (2,176)  
Equipment writeoff 544 428
Deferred taxes 4,028 5,279
Other (564) (76)
Changes in operating assets and liabilities:    
Securities borrowed (65,214) (96,914)
Securities purchased under agreements to resell   9,950
Receivables from broker dealers and clearing organizations 63,360 (872,828)
Trading assets, at fair value 437,295 (378,308)
Other Assets (1,291) 540
Securities loaned 122,981 431,059
Payables to broker dealers and clearing organizations (298,074) (78,541)
Trading liabilities, at fair value (240,145) 944,934
Accounts payable and accrued expenses and other liabilities 10,117 6,261
Net cash provided by operating activities 82,393 85,457
Cash flows from investing activities    
Development of capitalized software (3,173) (4,153)
Acquisition of property and equipment (6,997) (5,640)
Acquisition of business, net of cash acquired (5,704)  
Net cash used in investing activities (15,874) (9,793)
Cash flows from financing activities    
Distribution from Virtu Financial to non-controlling interest (37,076) (91,519)
Dividends (20,278) (18,739)
Short-term borrowings, net (12,000) 23,000
Payments on repurchase of non-voting common interest (1,441) (1,000)
Proceeds from long-term borrowings 1,115,036  
Repayment of senior secured credit facility (6,473) (2,550)
Tax receivable agreement obligations (7,045)  
Net cash provided by (used in) financing activities 1,030,723 (90,808)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 5,637 1,264
Increase (decrease) in cash, cash equivalents, and restricted cash 1,102,879 (13,880)
Cash, cash equivalents, and restricted cash, beginning of period 181,415 163,235
Cash, cash equivalents, and restricted cash, end of period 1,284,294 149,355
Supplementary disclosure of cash flow information    
Cash paid for interest 35,418 28,941
Cash paid for taxes 4,584 9,278
Non-cash investing activities    
Share based compensation of developers relating to software capitalized $ 1,328 $ 3,454