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v3.7.0.1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2017 | Mar. 31, 2016
Cash flows from operating activities |  |
Net Income | $ 21,074 | $ 51,356
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation and amortization | 6,757 | 7,727
Amortization of purchased intangibles and acquired capitalized software | 53 | 53
Amortization of debt issuance costs and deferred financing fees | 214 | 468
Termination of office leases |  | 292
Share based compensation | 3,818 | 3,102
Equipment writeoff |  | 428
Deferred taxes | 2,354 | 2,530
Other | 1,570 | (3)
Changes in operating assets and liabilities: |  |
Securities borrowed | (138,458) | (200,769)
Securities purchased under agreements to resell |  | 14,981
Receivables from broker dealers and clearing organizations | (213,585) | (153,375)
Trading assets, at fair value | (72,088) | (226,460)
Other Assets | 563 | 652
Securities loaned | 201,469 | 166,069
Payables to broker dealers and clearing organizations | (106,290) | (50,646)
Trading liabilities, at fair value | 324,647 | 432,519
Tax receivable agreement obligations | (7,045) |
Accounts payable and accrued expenses and other liabilities | (11) | 2,544
Net cash provided by operating activities | 32,087 | 51,468
Cash flows from investing activities |  |
Development of capitalized software | (2,016) | (2,003)
Acquisition of property and equipment | (3,843) | (1,287)
Net cash used in investing activities | (5,859) | (3,290)
Cash flows from financing activities |  |
Distribution from Virtu Financial to non-controlling interest | (21,011) | (41,240)
Dividends | (10,114) | (9,378)
Purchase of treasury stock | (441) |
Short-term borrowings, net | (3,000) | (13,000)
Payments on repurchase of non-voting common interest | (500) | (500)
Repayment of senior secured credit facility | (1,350) | (1,275)
Net cash used in financing activities | (43,461) | (65,393)
Effect of exchange rate changes on Cash and cash equivalents | 785 | 2,494
Net decrease in Cash and cash equivalents | (16,448) | (14,721)
Cash and cash equivalents, beginning of period | 181,415 | 163,235
Cash and cash equivalents, end of period | 164,967 | 148,514
Supplementary disclosure of cash flow information |  |
Cash paid for interest | 13,197 | 13,786
Cash paid for taxes | 1,915 | 1,527
Non-cash investing activities |  |
Share based compensation of developers relating to software capitalized | $ 664 | $ 678

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- Definition The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3291-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Financing Activities -URI http://asc.fasb.org/extlink&oid=6513228 + Details
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3602-108585 + Details
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- References No definition available. + Details
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- References No definition available. + Details
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives. + References No definition available. + Details
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- Definition Represents the amount of increase (decrease) in accounts payable and accrued expenses and other liabilities. + References No definition available. + Details
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- Definition Represents the portion attributable to the Tax receivable agreement obligations. + References No definition available. + Details
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- Definition Represents the amount of increase (decrease) in fair value of trading assets. + References No definition available. + Details
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- Definition Represents the amount of increase (decrease) in fair value of trading liabilities. + References No definition available. + Details
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- Definition Represents the amount of expense related to the lease abandonment or termination. + References No definition available. + Details
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- Definition Represents the amount of non-cash compensation to developers subject to capitalization of software. + References No definition available. + Details
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- Definition The cash outflow to reacquire common units during the period. + References No definition available. + Details
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