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Segment and Geographic Information | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment and Geographic Information | Segment and Geographic Information Segment Information The Company currently operates in one reportable segment, brokerage services, which is managed on a consolidated basis. The Company provides brokerage services to the financial markets, through integrated Voice, Hybrid and Fully Electronic brokerage in a broad range of products, including fixed income (Rates and Credit), FX, Equities, ECS, and Futures and Options. BGC also delivers a wide range of services, including trade execution, brokerage, clearing, post-trade, information, consulting, and other back-office services to a broad range of financial and non-financial institutions. As of December 31, 2024, the Company has identified the Chairman of the Board and Chief Executive Officer as the Chief Operating Decision Maker (“CODM”). Consolidated net income (loss) is the measure of segment profit (loss) most consistent with U.S. GAAP that is regularly reviewed by the CODM. The Company’s business is based on the products and services provided and reflects the manner in which financial information is evaluated by the CODM. Significant expense categories included in Consolidated net income (loss) that are regularly provided to the CODM include Compensation and employee benefits expense and Equity-based compensation and allocations of net income to limited partnership units and FPUs expense. Refer to the Company’s Consolidated Statements of Operations for additional information. Information regarding revenues from external customers, other revenues, significant segment expenses, other segment items and Consolidated net income (loss) is as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |
Rates | $ | 686,342 |  |  | $ | 610,451 |  |  | $ | 549,503 |
ECS | 483,232 |  |  | 386,206 |  |  | 291,665 |
FX | 355,833 |  |  | 314,706 |  |  | 299,721 |
Credit | 287,812 |  |  | 284,744 |  |  | 271,419 |
Equities | 225,027 |  |  | 236,517 |  |  | 234,493 |
Total brokerage revenues | 2,038,246 |  | 1,832,624 |  | 1,646,801
Fees from related parties | 20,728 |  |  | 15,968 |  |  | 14,734 |
Data, software and post-trade | 126,963 |  |  | 111,470 |  |  | 96,389 |
Interest and dividend income 1 | 56,223 |  |  | 45,422 |  |  | 21,007 |
Other revenues | 20,658 |  |  | 19,917 |  |  | 16,371 |
Total other revenues | 224,572 |  | 192,777 |  | 148,501
Total revenues | 2,262,818 |  | 2,025,401 |  | 1,795,302
Expenses: |  |  |  |  |
Compensation and employee benefits | 1,123,747 |  |  | 992,603 |  |  | 853,165 |
Equity-based compensation and allocations of net income to limited partnership units and FPUs | 369,143 |  |  | 355,378 |  |  | 251,071 |
Total compensation and employee benefits | 1,492,890 |  | 1,347,981 |  | 1,104,236
Other segment items 2 | 646,700 |  |  | 638,645 |  |  | 632,199 |
Consolidated net income (loss) | $ | 123,228 |  |  | $ | 38,775 |  |  | $ | 58,867 |
_______________________________________ 1 For the years ended December 31, 2024, 2023, and 2022, Interest income was $49.5 million, $40.2 million and $15.5 million, respectively. 2 Other segment items include Occupancy and equipment expense, Fees to related parties expense, Professional and consulting fees expense, Communications expense, Selling and promotion expense, Commissions and floor brokerage expense, Interest expense, Other expenses, Gains (losses) on divestitures and sales of investments, Gains (losses) on equity method investments, Other income (loss), and Provision (benefit) for income taxes, each of which are presented on the Company’s Consolidated Statements of Operations. Also included in Other segment items is Fixed asset depreciation and intangible asset amortization. For the years ended December 31, 2024, 2023, and 2022, Fixed asset depreciation and intangible asset amortization was $81.4 million, $80.4 million and $75.1 million, respectively. Refer to the Company’s Consolidated Statements of Financial Condition for the segment’s total assets. Refer to Note 14—“Investments” for the Company’s investment in equity method investees. Total expenditures for additions to long-lived assets are reported on the Company’s Consolidated Statements of Cash Flows. Geographic Information The Company offers products and services in EMEA, the Americas and APAC. Revenues and long-lived assets are attributed to geographic areas based on the location of the particular subsidiary. Information regarding revenues is as follows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Revenues: |  |  |  |  |
EMEA 1 | $ | 1,146,602 |  |  | $ | 1,022,988 |  |  | $ | 912,941 |
Americas 2 | 820,608 |  |  | 727,204 |  |  | 610,683 |
APAC | 295,608 |  |  | 275,209 |  |  | 271,678 |
Total revenues | $ | 2,262,818 |  |  | $ | 2,025,401 |  |  | $ | 1,795,302 |
_______________________________________ 1 For the years ended December 31, 2024, 2023, and 2022, the U.K. accounted for 10% or more of total revenues. U.K. revenues for the years ended December 31, 2024, 2023, and 2022 were $780.2 million, $730.8 million, and $647.9 million, respectively. 2 For the years ended December 31, 2024, 2023, and 2022, the U.S. accounted for 10% or more of total revenues. U.S. revenues for the years ended December 31, 2024, 2023, and 2022 were $752.6 million, $652.9 million, and $542.7 million, respectively. Information regarding long-lived assets (defined as loans, forgivable loans and other receivables from employees and partners, net; fixed assets, net; ROU assets; certain other investments; rent and other deposits; excluding goodwill and other intangible assets, net) in the applicable geographic area is as follows (in thousands):
| December 31, 2024 |  | December 31, 2023
Long-lived assets: |  |  |
EMEA 1 | $ | 346,198 |  |  | $ | 385,210 |
Americas 2 | 261,297 |  |  | 225,950 |
APAC | 81,276 |  |  | 75,496 |
Total long-lived assets | $ | 688,771 |  |  | $ | 686,656 |
_______________________________________ 1 As of December 31, 2024 and 2023, the U.K. accounted for 10% or more of total long-lived assets. U.K. long-lived assets as of December 31, 2024 and 2023 were $251.9 million and $306.1 million, respectively. 2 As of December 31, 2024 and 2023, the U.S. accounted for 10% or more of total long-lived assets. U.S. long-lived assets as of December 31, 2024 and 2023 were $255.5 million and $220.1 million, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. 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