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Consolidated Statements of Cash Flows - Tradeweb Markets LLC - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended
--- | --- | --- | ---
Dec. 31, 2018 | Sep. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016
Successor |  |  |  |
Cash flows from operating activities |  |  |  |
Net income | $ 29,307 |  |  |
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |
Depreciation and amortization | 33,020 |  |  |
Deferred taxes | 968 |  |  |
(Increase) decrease in operating assets: |  |  |  |
Receivable from brokers and dealers and clearing organizations | (169,949) |  |  |
Deposits with clearing organizations | (2,248) |  |  |
Accounts receivable | 8,085 |  |  |
Receivable from affiliates | 107 |  |  |
Other assets | (4,695) |  |  |
Increase (decrease) in operating liabilities: |  |  |  |
Payable to brokers and dealers and clearing organizations | 171,214 |  |  |
Accrued compensation | 38,368 |  |  |
Deferred revenue | (396) |  |  |
Accounts payable, accrued expenses and other liabilities | 639 |  |  |
Employee equity compensation payable | 9,345 |  |  |
Payable to affiliates | (1,209) |  |  |
Net cash provided by operating activities | 112,556 |  |  |
Cash flows from investing activities |  |  |  |
Purchase of furniture, equipment, software and leasehold improvements | (9,090) |  |  |
Capitalized software development costs | (7,156) |  |  |
Net cash used in investing activities | (16,246) |  |  |
Cash flows from financing activities |  |  |  |
Capital distributions | (36,000) |  |  |
Net cash used in financing activities | (36,000) |  |  |
Effect of exchange rate changes on cash and cash equivalents | (389) |  |  |
Net decrease in cash and cash equivalents | 59,921 |  |  |
Cash and cash equivalents and restricted cash |  |  |  |
Beginning of period | 351,383 |  |  |
End of period | 411,304 | $ 351,383 |  |
Supplemental disclosure of cash flow information |  |  |  |
Income taxes paid | 2,659 |  |  |
Supplemental disclosure of non-cash investing and financing information |  |  |  |
Conversion of certain cash-settled PRSUs to equity settled PRSUs | 19,072 |  |  |
Predecessor |  |  |  |
Cash flows from operating activities |  |  |  |
Net income |  | 130,160 | $ 83,648 | $ 93,161
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |
Depreciation and amortization |  | 48,808 | 68,615 | 80,859
Contingent consideration |  | 26,830 | 58,520 | 26,224
Vesting of P-1(C) Shares |  | (5,728) |  |
Deferred taxes |  | 2,602 | (950) | (6,323)
(Increase) decrease in operating assets: |  |  |  |
Receivable from brokers and dealers and clearing organizations |  | (318) | (4,324) | 380
Deposits with clearing organizations |  | 726 | 606 | (2,311)
Accounts receivable |  | (28,434) | 11,196 | (18,683)
Receivable from affiliates |  | (2,534) | 314 | 957
Other assets |  | (6,371) | 4,719 | (5,369)
Increase (decrease) in operating liabilities: |  |  |  |
Payable to brokers and dealers and clearing organizations |  | (4,322) | 4,322 | (380)
Accrued compensation |  | (7,568) | 12,364 | 7,851
Deferred revenue |  | (1,396) | (12,555) | (6,167)
Accounts payable, accrued expenses and other liabilities |  | 8,793 | (3,826) | 2,364
Employee equity compensation payable |  | 2,896 | 2,380 | 519
Payable to affiliates |  | 684 | (449) | (1,237)
Net cash provided by operating activities |  | 164,828 | 224,580 | 171,845
Cash flows from investing activities |  |  |  |
Purchase of furniture, equipment, software and leasehold improvements |  | (6,327) | (13,461) | (9,998)
Capitalized software development costs |  | (19,523) | (27,157) | (25,351)
Business acquisitions |  |  | 66 | (15,216)
Purchase of investments |  |  | (5,000) |
Net cash used in investing activities |  | (25,850) | (45,552) | (50,565)
Cash flows from financing activities |  |  |  |
Capital distributions |  | (139,350) | (152,000) | (130,000)
Mezzanine capital contributions |  |  | 82 |
Mezzanine capital distributions |  |  | (1,543) | (521)
Net cash used in financing activities |  | (139,350) | (153,461) | (130,521)
Effect of exchange rate changes on cash and cash equivalents |  | (2,043) | 3,157 | (6,200)
Net decrease in cash and cash equivalents |  | (2,415) | 28,724 | (15,441)
Cash and cash equivalents and restricted cash |  |  |  |
Beginning of period | $ 351,383 | 353,798 | 325,074 | 340,515
End of period |  | 351,383 | 353,798 | 325,074
Supplemental disclosure of cash flow information |  |  |  |
Interest paid |  |  | 455 | 1,339
Income taxes paid |  | 5,500 | 6,312 | $ 6,735
Supplemental disclosure of non-cash investing and financing information |  |  |  |
Vesting of contingent consideration to Class P-1(A) Shares |  | $ 150,495 |  |
Conversion of convertible term note payable to Thomson Reuters to Class A Shares |  |  | $ 29,285 |

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