Parent Company (Tables) - VFH

12 Months Ended

Dec. 31, 2017

Condensed Statements of Financial Condition

	As of December 31,
	December 31,		December 31,
(In thousands except interest data)	2017		2016
Assets
Cash	$	60,193	$	17,149
Deferred tax asset		124,631		192,961
Investment in subsidiary		1,549,162		165,204
Other assets		10,731		1,892
Total assets	$	1,744,717	$	377,206
Liabilities, redeemable membership interest and equity
Liabilities
Payable to affiliate	$	767,101	$	129
Accounts payable and accrued expenses and other liabilities		7		—
Tax receivable agreement obligations		147,040		231,404
Total liabilities	$	914,148	$	231,533
Virtu Financial Inc. Stockholders' equity
Class A-1 — Authorized and Issued — 0 and 0 interests, Outstanding — 0 and 0 interests, at December 31, 2017 and 2016, respectively		—		—
Class A-2 — Authorized and Issued — 0 and 0 interests, Outstanding — 0 and 0 interests, at December 31, 2017 and 2016, respectively		—		—
Class A common stock (par value $0.00001), Authorized — 1,000,000,000 and 1,000,000,000 shares, Issued    — 90,415,532 and 40,436,580 shares, Outstanding — 89,798,609 and 39,983,514 shares at December 31, 2017 and 2016, respectively		1		—
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, 2017 and 2016, respectively		—		—
Class C common stock (par value $0.00001), Authorized — 90,000,000 and 90,000,000 shares, Issued — 17,880,239 and 19,810,707 shares, Outstanding — 17,880,239 and 19,810,707, at December 31, 2017 and 2016, 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, 2017 and 2016, respectively		1		1
Treasury stock, at cost, 616,923 and 453,066 shares at December 31, 2017 and 2016, respectively		(11,041)		(8,358)
Additional paid-in capital		900,746		155,536
Accumulated deficit		(62,129)		(1,254)
Accumulated other comprehensive income (loss)		2,991		(252)
Total Virtu Financial Inc. stockholders' equity	$	830,569	$	145,673
Total liabilities and stockholders' equity	$	1,744,717	$	377,206

Condensed Statements of Comprehensive Income

	For the Years Ended
	December 31,
(in thousands)	2017		2016		2015
Revenues:
Service fee revenue	$	—	$	—	$	445
Other Income		86,599		—		—
		86,599		—		445
Operating Expenses:
Operations and administrative		181		198		447
Income (loss) before equity in income of subsidiary		86,418		(198)		(2)
Equity in income of subsidiary, net of tax		(83,479)		33,178		104,036
Net income	$	2,939	$	32,980	$	104,034
Net income attributable to common stockholders		2,939		32,980		20,887
Other comprehensive income (loss):
Foreign currency translation adjustment, net of taxes		3,243		(351)		(4,534)
Comprehensive income	$	6,182	$	32,629	$	16,353

Condensed Statements of Cash Flows

	For the Years Ended
	December 31,
(in thousands)	2017		2016		2015
Cash flows from operating activities
Net income	$	2,939	$	32,980	$	104,034
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in income of subsidiary, net of tax		(513,601)		157,975		(18,237)
Tax receivable agreement obligation reduction		(86,599)		—		—
Deferred taxes		102,973		13,197		3,392
Other		(8,500)		—		—
Changes in operating assets and liabilities:		(8,832)		(4,012)		5,900
Net cash provided by (used in) operating activities		(511,620)		200,140		95,089
Cash flows from investing activities
Acquisition of KCG Holdings, net of cash acquired, described in Note 3		(23,908)		—		—
Investments in subsidiaries, equity basis		16,846		24,893		64,624
Net cash provided by (used in) investing activities		(7,062)		24,893		64,624
Cash flows from financing activities
Distribution to members		—		—		(130,000)
Distribution from Virtu Financial to non-controlling interest		(89,563)		(162,969)		(81,377)
Dividends		(63,814)		(37,759)		(17,362)
Payments on repurchase of non-voting common interest		(11,143)		(2,000)		(2,097)
Repurchase of Class C common stock		—		(98)		—
Purchase of treasury stock		(2,683)		(4,539)		(3,819)
Tax receivable agreement obligations		(7,045)		—		—
Issuance of common stock, net of offering costs		735,974		—		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 provided by (used in) financing activities	$	561,726	$	(208,071)	$	(185,465)
Net increase (decrease) in Cash	$	43,044	$	16,962	$	(25,752)
Cash, beginning of period		17,149		187		25,939
Cash, end of period	$	60,193	$	17,149	$	187
Supplemental disclosure of cash flow information:
Taxes paid	$	133	$	8,813	$	5,615
Non-cash financing activities
Tax receivable agreement described in Note 6		1,534		-		(21,854)
Secondary offerings described in Note 15		-		1,350		-