XML 177 R51.htm IDEA: XBRL DOCUMENT v3.25.4

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Lease Assets and Liabilities

Lease assets and liabilities are summarized as follows:

(in thousands)						Financial Statement Location						December 31, 2025						December 31, 2024
Operating leases
Operating lease right-of-use assets						Operating lease right-of-use assets						$	213,707					$	175,046
Operating lease liabilities						Operating lease liabilities						261,169						229,825
Finance leases
Property and equipment, at cost						Property, equipment, and capitalized software, net						36,611						42,915
Accumulated depreciation						Property, equipment, and capitalized software, net						(17,703)						(20,755)
Finance lease liabilities						Accounts payable, accrued expenses, and other liabilities						19,984						23,095

Schedule of Lease Term, Discount Rate and Components of Lease Expense

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

						December 31, 2025						December 31, 2024
Weighted average remaining lease term
Operating leases						4.40 years						4.60 years
Finance leases						2.58 years						3.53 years
Weighted average discount rate
Operating leases						5.95		%				6.36		%
Finance leases						5.83		%				5.97		%

The components of lease expense are as follows:

												Years Ended December 31,
(in thousands)																		2025						2024						2023
Operating lease cost:
Fixed																		$	70,553					$	73,046					$	76,424
Variable																		6,745						5,856						6,151
Impairment of ROU Asset																		465						10,031						—
Total Operating lease cost																		$	77,763					$	88,933					$	82,575
Sublease income																		13,077						16,896						19,506
Finance lease cost:
Amortization of ROU Asset																		$	7,751					$	10,512					$	9,079
Interest on lease liabilities																		1,224						1,559						1,156
Total Finance lease cost																		$	8,975					$	12,071					$	10,235

Schedule of Future Minimum Lease Payments Under Operating Leases

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of December 31, 2025, are as follows:

(in thousands)						Operating Leases						Finance Leases
2026						$	80,092					$	9,041
2027						75,738						7,871
2028						68,010						3,982
2029						24,378						662
2030						21,519						—
2031 and thereafter						28,375						—
Total lease payments						$	298,112					$	21,556
Less imputed interest						(36,943)						(1,572)
Total lease liability						$	261,169					$	19,984

Schedule of Future Minimum Lease Payments Under Finance Leases

Future minimum lease payments under operating and finance leases with non-cancelable lease terms, as of December 31, 2025, are as follows:

(in thousands)						Operating Leases						Finance Leases
2026						$	80,092					$	9,041
2027						75,738						7,871
2028						68,010						3,982
2029						24,378						662
2030						21,519						—
2031 and thereafter						28,375						—
Total lease payments						$	298,112					$	21,556
Less imputed interest						(36,943)						(1,572)
Total lease liability						$	261,169					$	19,984

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-types:textBlockItemType
Balance Type:	na
Period Type:	duration