XML 416 R44.htm IDEA: XBRL DOCUMENT v3.24.2

Leases (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Lease assets and liabilities

Lease assets and liabilities are summarized as follows:

(in thousands)						Financial Statement Location						June 30, 2024						December 31, 2023
Operating leases
Operating lease right-of-use assets						Operating lease right-of-use assets						$	200,926					$	229,499
Operating lease liabilities						Operating lease liabilities						248,217						278,317
Finance leases
Property and equipment, at cost						Property, equipment, and capitalized software, net						40,828						40,857
Accumulated depreciation						Property, equipment, and capitalized software, net						(16,908)						(11,781)
Finance lease liabilities						Accounts payable, accrued expenses, and other liabilities						24,689						29,609

Lease term, discount rate and components of lease expense

Weighted average remaining lease term and discount rate are as follows:

						June 30, 2024						December 31, 2023
Weighted average remaining lease term
Operating leases						4.96 years						5.25 years
Finance leases						3.19 years						3.50 years
Weighted average discount rate
Operating leases						6.36		%				6.40		%
Finance leases						5.67		%				5.51		%

The components of lease expense are as follows:

						Three Months Ended June 30,												Six Months Ended June 30,
(in thousands)						2024						2023						2024						2023
Operating lease cost:
Fixed						$	18,767					$	19,487					$	37,198					$	38,365
Variable						1,389						1,292						2,897						3,056
Total Operating lease cost						$	20,156					$	20,779					$	40,095					$	41,421
Sublease income						4,690						4,917						9,382						9,806
Finance lease cost:
Amortization of ROU Asset						$	2,577					$	2,428					$	5,156					$	4,552
Interest on lease liabilities						383						312						795						520
Total Finance lease cost						$	2,960					$	2,740					$	5,951					$	5,072

Future minimum lease payments under operating leases

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of June 30, 2024, are as follows:

(in thousands)						Operating Leases						Finance Leases
2024						$	37,854					$	5,549
2025						69,703						7,677
2026						67,577						6,683
2027						31,415						5,513
2028						27,999						1,941
2029 and thereafter						55,185						—
Total lease payments						$	289,733					$	27,363
Less imputed interest						(41,516)						(2,674)
Total lease liability						$	248,217					$	24,689

Future minimum lease payments under finance leases

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of June 30, 2024, are as follows:

(in thousands)						Operating Leases						Finance Leases
2024						$	37,854					$	5,549
2025						69,703						7,677
2026						67,577						6,683
2027						31,415						5,513
2028						27,999						1,941
2029 and thereafter						55,185						—
Total lease payments						$	289,733					$	27,363
Less imputed interest						(41,516)						(2,674)
Total lease liability						$	248,217					$	24,689

X

- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

+ Details

Name:	us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

+ Details

Name:	us-gaap_LeaseCostTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_LeasesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

+ Details

Name:	us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Assets And Liabilities, Lessee [Table Text Block]

+ References

No definition available.

+ Details

Name:	virt_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix:	virt_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration