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Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Cash flows from operating activities    
Net income $ 9,723 $ 96,067
Non-cash items included in net income:    
Depreciation and amortization of furniture, equipment and leasehold improvements 5,717 5,975
Deferred income taxes (5,890) (2,575)
Amortization of notes receivable 10,480 9,786
Amortization of debt issuance costs 189 188
Provision for credit losses 61 3,030
Share-based compensation (1,152) 25,097
Amortization of right-of-use lease assets 20,041 19,514
Decrease (increase) in operating assets:    
Deposits with clearing organizations (28,677) (1,752)
Receivable from brokers, dealers and clearing organizations (7,304) (39,020)
Receivable from customers 42,676 (165,640)
Securities purchased under agreements to resell 935 0
Securities owned (28,173) 48,834
Notes receivable (13,702) (18,723)
Other assets 34,278 92,294
Increase (decrease) in operating liabilities:    
Drafts payable 9,644 0
Payable to brokers, dealers and clearing organizations 71,389 64,141
Payable to customers (75,846) 48,612
Securities sold under agreements to repurchase 6,710 1,487
Securities sold but not yet purchased 22,935 (42,026)
Accrued compensation (135,341) 1,487
Accounts payable and other liabilities (21,797) (11,588)
Cash provided by/(used in) operating activities (83,104) 135,188
Cash flows from investing activities    
Purchase of furniture, equipment and leasehold improvements (11,627) (7,513)
Proceeds from the settlement of Company-owned life insurance 1,191 2,001
Cash provided by/(used in) investing activities (10,436) (5,512)
Cash flows from financing activities    
Cash dividends paid on Class A non-voting and Class B voting common stock (5,433) (4,936)
Issuance of Class A non-voting common stock 65 58
Repurchase of Class A non-voting common stock for cancellation (59,554) (4,715)
Payments for employee taxes withheld related to vested share-based awards (2,283) (4,966)
Distribution to noncontrolling interests (21) 0
Debt issuance costs 0 (22)
Decrease in bank call loans, net (15,900) (9,700)
Cash provided by/(used in) financing activities (83,126) (24,281)
Net (decrease)/increase in cash, cash equivalents and restricted cash (176,666) 105,395
Cash, cash equivalents and restricted cash, beginning of period 341,524 35,424
Cash, cash equivalents and restricted cash, end of period 164,858 140,819
Reconciliation of cash, cash equivalents and restricted cash within the condensed consolidated balance sheets:    
Cash and cash equivalents 36,578 140,819
Restricted cash 128,280 0
Total cash, cash equivalents and restricted cash 164,858 140,819
Schedule of non-cash financing activities    
Employee share plan issuance 4,288 7,361
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 14,184 9,502
Cash paid during the period for income taxes, net $ 25,683 $ 52,950