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v3.8.0.1

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Cash flows from operating activities |  |
Net Income | $ 410,022 | $ 21,074
Adjustments to reconcile net income to net cash provided by operating activities: |  |
Depreciation and amortization | 15,339 | 6,757
Amortization of purchased intangibles and acquired capitalized software | 6,851 | 53
Debt issue cost related to debt refinancing | 6,021 | 0
Amortization of debt issuance costs and deferred financing fees | 1,583 | 214
Termination of office leases | 19,970 | 0
Share based compensation | 9,122 | 3,818
Deferred taxes | 2,471 | 2,354
Gain on sale of BondPoint | (329,703) | 0
Other | (7,328) | 1,570
Changes in operating assets and liabilities: |  |
Securities borrowed | 239,124 | (138,458)
Securities purchased under agreements to resell | (602) | 0
Receivables from broker dealers and clearing organizations | (462,022) | (213,585)
Trading assets, at fair value | (194,984) | (72,088)
Other Assets | 5,848 | 563
Securities loaned | 181,374 | 201,469
Securities sold under agreements to repurchase | (125,241) | 0
Payables to broker dealers and clearing organizations | (67,417) | (106,290)
Trading liabilities, at fair value | 461,855 | 324,647
Accounts payable and accrued expenses and other liabilities | (53,276) | (11)
Net cash provided by operating activities | 119,007 | 32,087
Cash flows from investing activities |  |
Development of capitalized software | (7,016) | (2,016)
Acquisition of property and equipment | (4,505) | (3,843)
Proceeds from sale of BondPoint | 400,192 | 0
Net cash provided by (used in) investing activities | 388,671 | (5,859)
Cash flows from financing activities |  |
Distribution from Virtu Financial to non-controlling interest | (99,038) | (21,011)
Dividends | (22,380) | (10,114)
Purchase of treasury stock | (14,444) | (441)
Stock option exercised | 13,908 | 0
Short-term borrowings, net | (7,500) | (3,000)
Payments on repurchase of non-voting common interest | 0 | (500)
Repayment of senior secured credit facility | (276,000) | (1,350)
Tax receivable agreement obligations | 0 | (7,045)
Debt issuance costs | 0 | 0
Net cash used in financing activities | (405,786) | (43,461)
Effect of exchange rate changes on cash and cash equivalents | 2,529 | 785
Net increase in cash and cash equivalents | 104,421 | (16,448)
Cash and cash equivalents beginning of period | 532,887 | 181,415
Cash and cash equivalents, end of period | 637,308 | 164,967
Supplementary disclosure of cash flow information |  |
Cash paid for interest | 30,632 | 13,197
Cash paid for taxes | 156 | 1,915
Non-cash investing activities |  |
Share based compensation to developers relating to capitalized software | 206 | 664
Class C |  |
Cash flows from financing activities |  |
Purchase of treasury stock | $ (332) | $ 0

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- Definition The net cash inflow or outflow for borrowing having initial term of repayment within one year or 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 9 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3098-108585 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 cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (j) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66902209&loc=d3e3255-108585 Reference 3: 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 consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=65897068&loc=SL4591552-111686 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=68079674&loc=SL4569616-111683 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=64809438&loc=SL4573702-111684 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=65897068&loc=SL4591551-111686 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=64809438&loc=SL4573702-111684 + Details
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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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- 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 amount of increase (decrease) in fair value of trading assets. + 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 Cash outflow for payment of tax receivable agreement obligations. + 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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