XML 109 R88.htm IDEA: XBRL DOCUMENT v3.8.0.1
Parent Company - Condensed Statements of Cash Flows (Details) - USD ($)
$ in Thousands
4 Months Ended 9 Months Ended 12 Months Ended
Apr. 15, 2015
Dec. 31, 2015
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities          
Net income (loss) $ 83,147 $ 114,343 $ 18,898 $ 158,340 $ 197,490
Adjustments to reconcile net income to net cash provided by operating activities:          
Tax receivable agreement obligation reduction     (86,599)    
Deferred taxes     102,973 13,313 3,985
Other     (4,577) (1,070) 219
Net cash provided by operating activities     290,574 239,599 260,280
Cash flows from investing activities          
Acquisition of KCG Holdings, net of cash acquired, described in Note 3     (799,632)    
Cash flows used in investing activities     (838,016) (59,017) (24,299)
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)
Proceeds from issuance     735,974   327,366
Purchase of treasury stock     (2,683) (4,539) (3,819)
Tax receivable agreement obligations     (7,045)    
Repurchase of Virtu Financial Units and corresponding number of Class A and C Common Stock         (277,153)
Issuance of common stock, net of offering costs       16,677 7,782
Repurchase of Virtu Financial Units and corresponding number of Class A and C common stock in connection with secondary offering       (17,383) (8,805)
Net cash provided by (used in) financing activities     889,797 (161,237) (144,355)
Supplementary disclosure of cash flow information          
Tax receivable agreement described in Note 4     (1,534) (545) 21,854
Discount on issuance of senior secured credit facility     1,438 1,350  
Taxes paid     5,976 16,175 12,875
VFH          
Cash flows from operating activities          
Net income (loss)     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 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)    
Investment in subsidiaries, equity basis     16,846 24,893 64,624
Cash flows 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)
Proceeds from issuance     735,974   327,366
Purchase of treasury stock     (2,683) (4,539) (3,819)
Tax receivable agreement obligations     (7,045)    
Repurchase of Virtu Financial Units and corresponding number of Class A and C Common Stock         (277,153)
Issuance of common stock, net of offering costs       16,677 7,782
Repurchase of Virtu Financial Units and corresponding number of Class A and 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 $ 25,939   17,149 187 25,939
Cash, end of period   $ 187 60,193 17,149 187
Supplementary disclosure of cash flow information          
Tax receivable agreement described in Note 4     1,534   (21,854)
Discount on issuance of senior secured credit facility       1,350  
Taxes paid     133 8,813 5,615
Class A | VFH          
Cash flows from financing activities          
Dividends     (63,814) (37,759) (17,362)
Class C          
Cash flows from financing activities          
Purchase of treasury stock       (98)  
Class C | VFH          
Cash flows from financing activities          
Repurchase of Virtu Financial Units and corresponding number of Class A and C Common Stock       (98)  
Class A-2 | VFH          
Cash flows from financing activities          
Repurchase of Class A-2 interests     $ (11,143) $ (2,000) $ (2,097)