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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Dec. 31, 2019
Dec. 31, 2017
Cash flows from operating activities        
Financial Designation, Predecessor and Successor [Fixed List] Successor Predecessor Successor Predecessor
Net income $ 29,307 $ 130,160 $ 173,024 $ 83,648
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 33,020 48,808 139,330 68,615
Contingent consideration   26,830   58,520
Vesting of P-1 (C) Shares   (5,728)    
Stock-based compensation expense     49,824  
Deferred taxes 968 2,602 15,024 (950)
Tax receivable agreement liability adjustment     (33,134)  
(Increase) decrease in operating assets:        
Receivable from/Payable to brokers and dealers and clearing organizations, net 1,265 (4,640) 3,188 (2)
Deposits with clearing organizations (2,248) 726 1,789 606
Accounts receivable 8,085 (28,434) (4,283) 11,196
Receivable from/Payable to affiliates, net (1,102) (1,850) (2,461) (135)
Other assets (4,695) (6,371) (5,648) 4,719
Increase (decrease) in operating liabilities:        
Accrued compensation 38,368 (7,568) (1,783) 12,364
Deferred revenue (396) (1,396) (3,905) (12,555)
Accounts payable, accrued expenses and other liabilities 639 8,793 (3,550) (3,826)
Employee equity compensation payable 9,345 2,896 (16,412) 2,380
Net cash provided by operating activities 112,556 164,828 311,003 224,580
Cash flows from investing activities        
Purchase of furniture, equipment, software and leasehold improvements (9,090) (6,327) (15,781) (13,461)
Capitalized software development costs (7,156) (19,523) (28,681) (27,157)
Business acquisitions       66
Purchase of investments       (5,000)
Net cash used in investing activities (16,246) (25,850) (44,462) (45,552)
Cash flows from financing activities        
Mezzanine capital contributions       82
Mezzanine capital distributions       (1,543)
Pre-IPO capital distributions (36,000) (139,350) (120,000) (152,000)
Proceeds from issuance of Class A common stock in the IPO, net of underwriting discounts     1,161,270  
Purchase of LLC Interests and Class A common stock in connection with the IPO     (1,161,270)  
Proceeds from issuance of Class A common stock in the follow-on offering     809,954  
Purchase of LLC Interests in connection with the follow-on offering     (809,954)  
Offering costs from IPO and follow-on offering     (14,943)  
Dividends     (35,936)  
Capital distributions to non-controlling interests     (38,346)  
Payroll taxes paid for stock-based compensation exercises     (8,917)  
Net cash used in financing activities (36,000) (139,350) (218,142) (153,461)
Effect of exchange rate changes on cash and cash equivalents (389) (2,043) 2,008 3,157
Net increase (decrease) in cash and cash equivalents 59,921 (2,415) 50,407 28,724
Cash and cash equivalents and restricted cash        
Beginning of period 351,383 353,798 411,304 325,074
End of period 411,304 351,383 461,711 353,798
Supplemental disclosure of cash flow information        
Interest paid       455
Income taxes paid 2,659 5,500 43,842 6,312
Non-cash financing activities - Items arising from the reorganization transactions, IPO, follow-on offering and other LLC Interest ownership changes:        
Deferred tax asset 968 2,602 15,024 (950)
Vesting of contingent consideration   150,495    
Conversion of convertible term note payable to Thomson Reuters to Class A Shares       $ 29,285
Conversion of certain cash-settled PRSUs to equity-settled PRSUs $ 19,072      
Refinitiv Transaction        
Adjustments to reconcile net income to net cash provided by operating activities:        
Deferred taxes     269,569  
Non-cash financing activities - Items arising from the reorganization transactions, IPO, follow-on offering and other LLC Interest ownership changes:        
Establishment of liabilities under tax receivable agreement     273,951  
Deferred tax asset     $ 269,569  
Vesting of contingent consideration   $ 150,495