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v3.25.1

Notes Payable and Other Borrowings (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Notes Payable, Other and Short-term Borrowings | Notes payable and other borrowings consisted of the following (in thousands):
| March 31, 2025 |  | December 31, 2024
Unsecured senior revolving credit agreement | $ | 546,299 |  |  | $ | 195,831 |
BGC Group 4.375% Senior Notes due December 15, 2025 | 287,645 |  |  | 287,462 |
BGC Partners 4.375% Senior Notes due December 15, 2025 | 11,830 |  |  | 11,824 |
BGC Group 8.000% Senior Notes due May 25, 2028 | 344,811 |  |  | 344,620 |
BGC Partners 8.000% Senior Notes due May 25, 2028 | 2,259 |  |  | 2,257 |
BGC Group 6.600% Senior Notes due June 10, 2029 | 495,796 |  |  | 495,546 |
Total Notes payable and other borrowings 1, 2 | $ | 1,688,640 |  |  | $ | 1,337,540 |
__________________________ 1 The Company was in compliance with all debt covenants, as applicable, as of both March 31, 2025 and December 31, 2024. 2 Presented net of deferred financing costs, which are recorded in the Company’s unaudited Condensed Consolidated Statements of Financial Condition as a direct reduction of the Notes payable and other borrowings. As of March 31, 2025 and December 31, 2024, total deferred financing costs were $10.9 million and $12.0 million, respectively.
Schedule of Carrying Amounts and Estimated Fair Values of Company's Senior Notes | The BGC Group Notes and BGC Partners Notes are recorded at amortized cost. The carrying amounts and estimated fair values of the BGC Group Notes and BGC Partners Notes were as follows (in thousands):
| March 31, 2025 |  | December 31, 2024
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
BGC Group 4.375% Senior Notes due December 15, 2025 | 287,645 |  |  | 286,948 |  |  | 287,462 |  |  | 285,556 |
BGC Partners 4.375% Senior Notes due December 15, 2025 | 11,830 |  |  | 11,797 |  |  | 11,824 |  |  | 11,740 |
BGC Group 8.000% Senior Notes due May 25, 2028 | 344,811 |  |  | 371,414 |  |  | 344,620 |  |  | 369,065 |
BGC Partners 8.000% Senior Notes due May 25, 2028 | 2,259 |  |  | 2,431 |  |  | 2,257 |  | 2,416
BGC Group 6.600% Senior Notes due June 10, 2029 | 495,796 |  |  | 513,637 |  |  | 495,546 |  |  | 513,366 |
Total | $ | 1,142,341 |  |  | $ | 1,186,227 |  |  | $ | 1,141,709 |  |  | $ | 1,182,143 |

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