XML 86 R46.htm IDEA: XBRL DOCUMENT
v3.20.1

Compensation (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Compensation Expense | The Company incurred compensation expense related to Class A common stock, LPUs and RSUs as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
Issuance of common stock and exchangeability expenses |  | $ | 23,034 |  |  | $ | 3,536 |
Allocations of net income1 |  |  | 1,279 |  |  |  | 4,546 |
LPU amortization |  |  | 16,309 |  |  |  | 3,045 |
RSU amortization |  |  | 1,582 |  |  |  | 1,014 |
Equity-based compensation and allocations of net income to limited partnership units and FPUs |  | $ | 42,204 |  |  | $ | 12,141 |
1 | Certain LPUs generally receive quarterly allocations of net income and are generally contingent upon services being provided by the unit holders, including the Preferred Distribution.
Compensation expense related to the issuance of BGC or Newmark Class A common stock and grants of exchangeability on BGC Holdings and Newmark Holdings LPUs to BGC employees is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
Issuance of common stock and exchangeability expense |  | $ | 23,034 |  |  | $ | 3,536 |
Compensation expense related to the amortization of LPUs held by BGC employees is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
Stated vesting schedule |  | $ | 16,277 |  |  | $ | 3,506 |
Post-termination payout |  |  | 32 |  |  |  | (461 | )
LPU amortization |  | $ | 16,309 |  |  | $ | 3,045 |
Compensation expense related to RSUs held by BGC employees is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
RSU amortization |  | $ | 1,582 |  |  | $ | 1,014 |
Activity Associated with Limited Partnership Units Awarded to BGC Employees | A summary of the activity associated with LPUs awarded to BGC employees is as follows (in thousands):
|  | BGC LPUs |  |  | Newmark LPUs2 |
Balance at December 31, 2019 |  |  | 102,407 |  |  |  | 14,607 |
Granted |  |  | 12,661 |  |  |  | — |
Redeemed/exchanged units |  |  | (2,489 | ) |  |  | (31 | )
Forfeited units |  |  | (2 | ) |  |  | — |
Balance at March 31, 2020 |  |  | 112,577 |  |  |  | 14,576 |
Summary of the BGC Holdings and Newmark Holdings LPUs held by BGC Employees | The LPUs table above includes both regular and Preferred Units. The Preferred Units are not entitled to participate in partnership distributions other than with respect to the Preferred Distribution (see Note 2—“Limited Partnership Interests in BGC Holdings and Newmark Holdings” for further information on Preferred Units). A summary of the BGC Holdings and Newmark Holdings LPUs held by BGC employees is as follows (in thousands):
|  | BGC LPUs |  |  | Newmark LPUs |
Regular Units |  |  | 78,054 |  |  |  | 10,405 |
Preferred Units |  |  | 34,523 |  |  |  | 4,171 |
Balance at March 31, 2020 |  |  | 112,577 |  |  |  | 14,576 |
Activity Associated with Limited Partnership Units Awarded to BGC Employees | A summary of the LPUs redeemed in connection with the issuance of BGC Class A common stock or Newmark Class A common stock (at the current exchange ratio) or granted exchangeability for BGC Class A common stock or Newmark Class A common stock (at the current Exchange Ratio) held by BGC employees is as follows (in thousands):
|  | Three Months Ended March 31, |
|  | 2020 |  |  | 2019 |
BGC Holdings LPUs |  |  | 4,001 |  |  |  | 521 |
Newmark Holdings LPUs |  |  | 192 |  |  |  | 179 |
Total |  |  | 4,193 |  |  |  | 700 |
Summary of Outstanding LPUs Held by BGC Employees with Stated Vesting | A summary of the outstanding LPUs held by BGC employees with a stated vesting schedule that do not receive quarterly allocations of net income is as follows (in thousands):
|  | March 31, 2020 |  |  | December 31, 2019 |
BGC Holdings LPUs |  |  | 33,348 |  |  |  | 30,699 |
Newmark Holdings LPUs |  |  | 481 |  |  |  | 1,171 |
Aggregate estimated grant date fair value – BGC and Newmark Holdings LPUs |  | $ | 179,570 |  |  | $ | 138,324 |
Activity Associated with Restricted Stock Units | A summary of the activity associated with RSUs held by BGC employees and directors is as follows (RSUs and dollars in thousands):
|  | RSUs |  |  | Weighted- Average Grant Date Fair Value |  |  | Fair Value Amount |  |  | Weighted- Average Remaining Contractual Term (Years) |
Balance at December 31, 2019 |  |  | 4,478 |  |  | $ | 5.25 |  |  | $ | 23,516 |  |  |  | 2.50 |
Granted |  |  | 228 |  |  |  | 4.32 |  |  |  | 986 |  |  |  |  |
Delivered units |  |  | (1,117 | ) |  |  | 5.68 |  |  |  | (6,345 | ) |  |  |  |
Forfeited units |  |  | (94 | ) |  |  | 4.71 |  |  |  | (443 | ) |  |  |  |
Balance at March 31, 2020 |  |  | 3,495 |  |  | $ | 5.07 |  |  | $ | 17,714 |  |  |  | 2.40 |

X
- Definition Schedule of limited partners units redeemed. + References No definition available. + Details
Name: | bgcp_ScheduleOfLimitedPartnersUnitsRedeemedTableTextBlock
Namespace Prefix: | bgcp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of limited partners units with stated vesting not receive quarterly allocations of net income . + References No definition available. + Details
Name: | bgcp_ScheduleOfLimitedPartnersUnitsWithStatedVestingNotReceiveQuarterlyAllocationsOfNetIncomeTableTextBlock
Namespace Prefix: | bgcp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule of limited partnership units regular and preferred units + References No definition available. + Details
Name: | bgcp_ScheduleOfLimitedPartnershipUnitsRegularAndPreferredUnitsTableTextBlock
Namespace Prefix: | bgcp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=115993241&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration