2013 Q2 Form 10-Q Financial Statement

#000119312513324796 Filed on August 08, 2013

View on sec.gov

Income Statement

Concept 2013 Q2 2012 Q2
Revenue $1.193B $449.5M
YoY Change 165.42% 22.82%
Cost Of Revenue $2.300M $3.200M
YoY Change -28.13% 6.67%
Gross Profit $469.0M $449.0M
YoY Change 4.45% 23.73%
Gross Profit Margin 39.31% 99.88%
Selling, General & Admin $913.3M $419.3M
YoY Change 117.82% 28.19%
% of Gross Profit 194.73% 93.39%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $8.100M $9.300M
YoY Change -12.9% -22.5%
% of Gross Profit 1.73% 2.07%
Operating Expenses $984.9M $445.1M
YoY Change 121.29% 33.54%
Operating Profit -$515.9M $3.912M
YoY Change -13288.04% -86.78%
Interest Expense $9.989M $7.578M
YoY Change 31.82% -222.23%
% of Operating Profit 193.71%
Other Income/Expense, Net $59.78M $15.05M
YoY Change 297.26%
Pretax Income $208.3M $4.450M
YoY Change 4579.8% -81.06%
Income Tax $78.71M $70.00K
% Of Pretax Income 37.8% 1.57%
Net Earnings $34.47M $1.958M
YoY Change 1660.27% -79.81%
Net Earnings / Revenue 2.89% 0.44%
Basic Earnings Per Share $0.20 $0.01
Diluted Earnings Per Share $0.18 $0.01
COMMON SHARES
Basic Shares Outstanding 171.8M shares 140.4M shares
Diluted Shares Outstanding 378.1M shares 274.8M shares

Balance Sheet

Concept 2013 Q2 2012 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.070B $367.8M
YoY Change 191.0% 28.51%
Cash & Equivalents $1.070B $367.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.708B $793.0M
Other Receivables $0.00 $7.600M
Total Short-Term Assets $2.779B $1.168B
YoY Change 137.81% -11.06%
LONG-TERM ASSETS
Property, Plant & Equipment $132.2M $141.9M
YoY Change -6.83% 7.26%
Goodwill $163.7M
YoY Change
Intangibles $20.64M
YoY Change
Long-Term Investments $21.73M $32.00M
YoY Change -32.1% 26.48%
Other Assets
YoY Change
Total Long-Term Assets $669.7M $707.1M
YoY Change -5.29% 37.11%
TOTAL ASSETS
Total Short-Term Assets $2.779B $1.168B
Total Long-Term Assets $669.7M $707.1M
Total Assets $3.448B $1.876B
YoY Change 83.86% 2.52%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.466B $536.9M
YoY Change 173.05% -31.79%
Accrued Expenses $273.9M $141.5M
YoY Change 93.57% -7.94%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.740B $678.4M
YoY Change 156.47% -27.89%
LONG-TERM LIABILITIES
Long-Term Debt $423.8M $452.2M
YoY Change -6.28% 142.47%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $423.8M $452.2M
YoY Change -6.28% 137.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.740B $678.4M
Total Long-Term Liabilities $423.8M $452.2M
Total Liabilities $2.610B $1.475B
YoY Change 77.0% 1.29%
SHAREHOLDERS EQUITY
Retained Earnings -$145.8M
YoY Change
Common Stock $717.1M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $110.2M
YoY Change
Treasury Stock Shares 18.08M shares
Shareholders Equity $471.9M $400.8M
YoY Change
Total Liabilities & Shareholders Equity $3.448B $1.876B
YoY Change 83.86% 2.52%

Cashflow Statement

Concept 2013 Q2 2012 Q2
OPERATING ACTIVITIES
Net Income $34.47M $1.958M
YoY Change 1660.27% -79.81%
Depreciation, Depletion And Amortization $8.100M $9.300M
YoY Change -12.9% -22.5%
Cash From Operating Activities $52.50M $95.40M
YoY Change -44.97% -246.77%
INVESTING ACTIVITIES
Capital Expenditures -$6.400M -$14.60M
YoY Change -56.16% 29.2%
Acquisitions
YoY Change
Other Investing Activities $747.3M -$24.60M
YoY Change -3137.8% 6050.0%
Cash From Investing Activities $741.0M -$39.20M
YoY Change -1990.31% 237.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -60.60M 3.600M
YoY Change -1783.33% -109.38%
NET CHANGE
Cash From Operating Activities 52.50M 95.40M
Cash From Investing Activities 741.0M -39.20M
Cash From Financing Activities -60.60M 3.600M
Net Change In Cash 732.9M 59.80M
YoY Change 1125.59% -152.0%
FREE CASH FLOW
Cash From Operating Activities $52.50M $95.40M
Capital Expenditures -$6.400M -$14.60M
Free Cash Flow $58.90M $110.0M
YoY Change -46.45% -304.84%

Facts In Submission

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CY2012Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
435096000
CY2012Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
8135000
CY2012Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
CY2012Q4 us-gaap Other Assets
OtherAssets
101536000
CY2012Q4 us-gaap Due From Affiliates
DueFromAffiliates
21655000
CY2012Q4 us-gaap Receivables From Brokers Dealers And Clearing Organizations
ReceivablesFromBrokersDealersAndClearingOrganizations
297688000
CY2012Q4 us-gaap Financial Instruments Owned At Fair Value
FinancialInstrumentsOwnedAtFairValue
32003000
CY2012Q4 us-gaap Derivative Fair Value Of Derivative Asset Amount Not Offset Against Collateral
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstCollateral
CY2012Q4 us-gaap Financial Instruments Owned Us Government And Agency Obligations At Fair Value
FinancialInstrumentsOwnedUSGovernmentAndAgencyObligationsAtFairValue
32003000
CY2012Q4 us-gaap Treasury Stock Value
TreasuryStockValue
110090000
CY2012Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
141109000
CY2012Q4 bgcp Receivable From Open Derivative Contracts
ReceivableFromOpenDerivativeContracts
782000
CY2012Q4 bgcp Lease Balance Outstanding
LeaseBalanceOutstanding
11700000
CY2012Q4 bgcp Derivative Liability Fair Value Not Offset Net
DerivativeLiabilityFairValueNotOffsetNet
338000
CY2012Q4 bgcp Fixed Assets Pledged For Secured Loan Value
FixedAssetsPledgedForSecuredLoanValue
32100000
CY2012Q4 bgcp Derivative Liabilities Gross Amount Offset In Balance Sheet
DerivativeLiabilitiesGrossAmountOffsetInBalanceSheet
999000
CY2012Q4 bgcp Derivative Assets Gross Amount Offset In Balance Sheet
DerivativeAssetsGrossAmountOffsetInBalanceSheet
-999000
CY2012Q4 bgcp Derivative Asset Fair Value Not Offset Net
DerivativeAssetFairValueNotOffsetNet
782000
CY2012Q4 bgcp Exchangeable Founding Partner Unit
ExchangeableFoundingPartnerUnit
488744 shares
CY2012Q4 bgcp Loans Forgivable Loans And Other Receivables From Employees And Partners
LoansForgivableLoansAndOtherReceivablesFromEmployeesAndPartners
220098000
CY2012Q4 bgcp Derivative Fair Value Of Derivative Asset Amount Not Offset Against Financial Instruments
DerivativeFairValueOfDerivativeAssetAmountNotOffsetAgainstFinancialInstruments
CY2012Q4 bgcp Payable For Open Derivative Contracts
PayableForOpenDerivativeContracts
338000
CY2012Q4 bgcp Fixed Assets Pledged For Sale Lease Back Transactions Value
FixedAssetsPledgedForSaleLeaseBackTransactionsValue
8300000
CY2012Q4 bgcp Derivative Fair Value Of Derivative Liability Amount Not Offset Against Financial Instruments
DerivativeFairValueOfDerivativeLiabilityAmountNotOffsetAgainstFinancialInstruments
CY2012Q4 bgcp Receivable From Net Pending Trades
ReceivableFromNetPendingTrades
966000
CY2012Q4 bgcp Notes Payable And Collateralized Borrowings
NotesPayableAndCollateralizedBorrowings
301444000
CY2012Q4 bgcp Notional Value Of Limited Partnership Units With Post Termination Pay Out Amount
NotionalValueOfLimitedPartnershipUnitsWithPostTerminationPayOutAmount
64500000
CY2011Q2 bgcp Number Of Patents Alleged Infringed
NumberOfPatentsAllegedInfringed
6 Patents
dei Trading Symbol
TradingSymbol
bgcp
dei Entity Registrant Name
EntityRegistrantName
BGC Partners, Inc.
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2013
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2013-06-30
dei Entity Central Index Key
EntityCentralIndexKey
0001094831
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P2Y
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
15.54
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.24
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
530193 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
367582000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
39722000 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
5.61
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
339000 shares
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
33478 shares
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
60024000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
167515000 shares
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
<div> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="100%"> <tr> <td valign="top" width="4%" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>8.</b></font></td> <td valign="top" align="left"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers</b></font></td> </tr> </table> <p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers primarily represent amounts due for undelivered securities, cash held at clearing organizations and exchanges to facilitate settlement and clearance of matched principal transactions, spreads on matched principal transactions that have not yet been remitted from/to clearing organizations and exchanges and amounts related to open derivative contracts. The receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):</font></p> <p style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px; FONT-SIZE: 12px"> &#xA0;</p> <table style="BORDER-COLLAPSE: collapse" border="0" cellspacing="0" cellpadding="0" width="76%" align="center"> <tr> <td width="74%"></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> <td valign="bottom" width="5%"></td> <td></td> <td></td> <td></td> </tr> <tr> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>June&#xA0;30,<br /> 2013</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td style="BORDER-BOTTOM: #000000 1px solid" valign="bottom" colspan="2" align="center"><font style="FONT-FAMILY: Times New Roman" size="1"><b>December&#xA0;31,<br /> 2012</b></font></td> <td valign="bottom"><font size="1">&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Contract values of fails to deliver</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,360,542</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">238,790</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Cash and cash equivalents held at clearing organizations</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">55,103</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">45,563</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Other receivables from broker-dealers and customers</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">10,352</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">11,587</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Net pending trades</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">3,876</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">966</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Open derivative contracts</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">2,089</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">782</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: Times New Roman" size="2">Total</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,431,962</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">297,688</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 1em"><font style="FONT-FAMILY: Times New Roman" size="2">Payables to broker-dealers, clearing organizations, customers and related broker-dealers:</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Contract values of fails to receive</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,344,755</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">229,037</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Payables to clearing organizations</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">51,187</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,632</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Other payables to broker-dealers and customers</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">28,409</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">23,282</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 3em"><font style="FONT-FAMILY: Times New Roman" size="2">Open derivative contracts</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">400</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">338</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 1px solid">&#xA0;</p> </td> <td>&#xA0;</td> </tr> <tr bgcolor="#CCEEFF"> <td valign="top"> <p style="TEXT-INDENT: -1em; MARGIN-LEFT: 5em"><font style="FONT-FAMILY: Times New Roman" size="2">Total</font></p> </td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">1,424,751</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> <td valign="bottom"><font size="1">&#xA0;&#xA0;</font></td> <td valign="bottom"><font style="FONT-FAMILY: Times New Roman" size="2">$</font></td> <td valign="bottom" align="right"><font style="FONT-FAMILY: Times New Roman" size="2">254,289</font></td> <td valign="bottom" nowrap="nowrap"><font style="FONT-FAMILY: Times New Roman" size="2">&#xA0;&#xA0;</font></td> </tr> <tr style="FONT-SIZE: 1px"> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td valign="bottom"> <p style="BORDER-TOP: #000000 3px double">&#xA0;</p> </td> <td>&#xA0;</td> </tr> </table> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">A portion of these receivables and payables are with Cantor. See Note 11&#x2014;&#x201C;Related Party Transactions,&#x201D; for additional information related to these receivables and payables.</font></p> <p style="MARGIN-TOP: 12px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px"> <font style="FONT-FAMILY: Times New Roman" size="2">Substantially all open fails to deliver, open fails to receive and pending trade transactions as of June&#xA0;30, 2013 have subsequently settled at the contracted amounts.</font></p> </div>
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SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
shares
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y1M6D
us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.24
us-gaap Debt Instrument Interest Rate Terms
DebtInstrumentInterestRateTerms
Credit Agreement will bear interest at a per annum rate equal to, at the Company's option, either (a) a base rate equal to the greatest of (i) the prime rate as established by the Administrative Agent from time to time, (ii) the average federal funds rate plus 0.5%, and (iii) the reserve adjusted one-month LIBOR reset daily plus 1.0%, or (b) the reserve adjusted LIBOR for interest periods of one, two, three or six months, as selected by the Company, in each case plus an applicable margin.
us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
8674000
us-gaap Revenues
Revenues
1638136000
us-gaap Increase Decrease In Brokerage Receivables
IncreaseDecreaseInBrokerageReceivables
1134073000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
38801000
us-gaap Payments To Acquire Equity Method Investments
PaymentsToAcquireEquityMethodInvestments
797000
us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
5631000
us-gaap Interest Income Operating
InterestIncomeOperating
3199000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
137019000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
221948000
us-gaap Payments Of Dividends Common Stock
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37155000
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148000
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3895000
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13471000
bgcp Issuance Of Class Common Stock For Acquisitions
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bgcp Equities And Other Brokerage Revenue
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25492000
bgcp Grant Of Exchangeability And Redemption Limited Partnership Interest
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bgcp Shares Issued In Pursuant To Exemption Under Law
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bgcp Rates Revenue
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281286000
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3055000
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81 Broker
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P2Y4M24D
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7243000
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34980000
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3055000
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35513000
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5406000
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26068000
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90590000
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337000
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43000
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89963000
CY2012 bgcp Purchase Of Units Upon Redemption Of Founding Working Partners Units
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2732000
CY2012 bgcp Issuance Of Contingent Common Stock For Acquisitions
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9026000
CY2012 bgcp Grant Of Exchangeability And Redemption Of Limited Partnership Interests
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131609000
CY2012 bgcp Redemption Of Limited Partnership Units
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10608000
CY2012 bgcp Limited Partnership Units Exchange Ratio
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CY2012 bgcp Re Allocation Of Equity Due To Additional Investment By Founding Working Partners
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CY2012Q1 us-gaap Number Of Reportable Segments
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CY2012Q2 us-gaap Interest Income Operating
InterestIncomeOperating
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CY2012Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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CY2012Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2012Q2 us-gaap Management Fees Revenue
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CY2012Q2 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
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TechnologyServicesRevenue
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ProfitLoss
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OtherIncome
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NetIncomeLossAttributableToNoncontrollingInterest
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CY2012Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
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NoninterestExpense
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CY2012Q2 us-gaap Other Expenses
OtherExpenses
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CY2012Q2 us-gaap Floor Brokerage Exchange And Clearance Fees
FloorBrokerageExchangeAndClearanceFees
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CY2012Q2 us-gaap Communication
Communication
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InterestExpenseLongTermDebt
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InterestExpense
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
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CY2012Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
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CY2012Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
900000
CY2012Q2 us-gaap Occupancy Net
OccupancyNet
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CY2012Q2 us-gaap Professional Fees
ProfessionalFees
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CY2012Q2 us-gaap Depreciation
Depreciation
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CY2012Q2 us-gaap Operating Expenses
OperatingExpenses
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CY2012Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2012Q2 bgcp Allocation Of Net Income To Limited Partnership Units And Founding Working Partner Units
AllocationOfNetIncomeToLimitedPartnershipUnitsAndFoundingWorkingPartnerUnits
1909000
CY2012Q2 bgcp Compensation And Employee Benefit Net
CompensationAndEmployeeBenefitNet
309938000
CY2012Q2 bgcp Allocation Of Income To Limited Partnership Interest Diluted
AllocationOfIncomeToLimitedPartnershipInterestDiluted
1836000
CY2012Q2 bgcp Dividend Equivalent Expense On Rsus
DividendEquivalentExpenseOnRsus
84000
CY2012Q2 bgcp Incremental Common Shares Attributable To Other Instruments
IncrementalCommonSharesAttributableToOtherInstruments
1768000 shares
CY2012Q2 bgcp Incremental Common Shares Attributable To Limited Partnership Interests
IncrementalCommonSharesAttributableToLimitedPartnershipInterests
132035000 shares
CY2012Q2 bgcp Limited Partnership Units Average Redemption Price Per Unit
LimitedPartnershipUnitsAverageRedemptionPricePerUnit
6.47
CY2012Q2 bgcp Allocation Of Income To Limited Partnership Interest
AllocationOfIncomeToLimitedPartnershipInterest
3034000
CY2012Q2 bgcp Real Estate Brokerage Revenue
RealEstateBrokerageRevenue
92682000
CY2012Q2 bgcp Equity Method Investment Summarized Financial Information Expenses
EquityMethodInvestmentSummarizedFinancialInformationExpenses
14926000
CY2012Q2 bgcp Collection Of Receivables And Associated Expenses
CollectionOfReceivablesAndAssociatedExpenses
8800000
CY2012Q2 bgcp Equities And Other Brokerage Revenue
EquitiesAndOtherBrokerageRevenue
41716000
CY2012Q2 bgcp Shares Issued In Pursuant To Exemption Under Law
SharesIssuedInPursuantToExemptionUnderLaw
72009 shares
CY2012Q2 bgcp Credit Revenue
CreditRevenue
70084000
CY2012Q2 bgcp Rates Revenue
RatesRevenue
134402000
CY2012Q2 bgcp Foreign Exchange Brokerage Revenue
ForeignExchangeBrokerageRevenue
53240000
CY2013Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2013Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
CY2013Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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CY2013Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.20
CY2013Q2 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
39780000 shares
CY2013Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
630000 shares
CY2013Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
171758000 shares
CY2013Q2 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.12
CY2013Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6600000 shares
CY2013Q2 us-gaap Revenues
Revenues
1193167000
CY2013Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
32538000
CY2013Q2 us-gaap Interest Income Operating
InterestIncomeOperating
1651000
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ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
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CY2013Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
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CY2013Q2 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
12242000
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
34466000
CY2013Q2 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
85349000
CY2013Q2 us-gaap Management Fees Revenue
ManagementFeesRevenue
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CY2013Q2 us-gaap Equity Method Investment Summarized Financial Information Revenue
EquityMethodInvestmentSummarizedFinancialInformationRevenue
14398000
CY2013Q2 us-gaap Technology Services Revenue
TechnologyServicesRevenue
2530000
CY2013Q2 us-gaap Profit Loss
ProfitLoss
129540000
CY2013Q2 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
723147000
CY2013Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
69944000
CY2013Q2 us-gaap Equity Method Investment Summarized Financial Information Net Income Loss
EquityMethodInvestmentSummarizedFinancialInformationNetIncomeLoss
-3212000
CY2013Q2 us-gaap Market Data Revenue
MarketDataRevenue
3643000
CY2013Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2257000
CY2013Q2 us-gaap Other Income
OtherIncome
1174000
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
34466000
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2257000
CY2013Q2 us-gaap Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
1191516000
CY2013Q2 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
3860000
CY2013Q2 us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
324832000
CY2013Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-1224000
CY2013Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
95074000
CY2013Q2 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
2286000
CY2013Q2 us-gaap Noninterest Expense
NoninterestExpense
974927000
CY2013Q2 us-gaap Other Expenses
OtherExpenses
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CY2013Q2 us-gaap Floor Brokerage Exchange And Clearance Fees
FloorBrokerageExchangeAndClearanceFees
6397000
CY2013Q2 us-gaap Communication
Communication
22755000
CY2013Q2 us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
2900000
CY2013Q2 us-gaap Cost Of Services Direct Labor
CostOfServicesDirectLabor
765679000
CY2013Q2 us-gaap Share Based Compensation
ShareBasedCompensation
464600000
CY2013Q2 us-gaap Interest Expense
InterestExpense
9989000
CY2013Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
94745000
CY2013Q2 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
23239000
CY2013Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2000000
CY2013Q2 us-gaap Occupancy Net
OccupancyNet
37340000
CY2013Q2 us-gaap Professional Fees
ProfessionalFees
11367000
CY2013Q2 us-gaap Depreciation
Depreciation
8100000
CY2013Q2 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
160500000
CY2013Q2 us-gaap Operating Expenses
OperatingExpenses
984916000
CY2013Q2 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2013Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
78711000
CY2013Q2 bgcp Allocation Of Income To Limited Partnership Interest Diluted
AllocationOfIncomeToLimitedPartnershipInterestDiluted
31618000
CY2013Q2 bgcp Charitable Contributions
CharitableContributions
25000000
CY2013Q2 bgcp Incremental Common Shares Attributable To Other Instruments
IncrementalCommonSharesAttributableToOtherInstruments
797000 shares
CY2013Q2 bgcp Incremental Common Shares Attributable To Limited Partnership Interests
IncrementalCommonSharesAttributableToLimitedPartnershipInterests
165127000 shares
CY2013Q2 bgcp Allocation Of Net Income To Limited Partnership Units And Founding Working Partner Units
AllocationOfNetIncomeToLimitedPartnershipUnitsAndFoundingWorkingPartnerUnits
46084000
CY2013Q2 bgcp Compensation And Employee Benefit Net
CompensationAndEmployeeBenefitNet
811763000
CY2013Q2 bgcp Limited Partnership Units Average Redemption Price Per Unit
LimitedPartnershipUnitsAverageRedemptionPricePerUnit
5.54
CY2013Q2 bgcp Allocation Of Income To Limited Partnership Interest
AllocationOfIncomeToLimitedPartnershipInterest
140068000
CY2013Q2 bgcp Real Estate Brokerage Revenue
RealEstateBrokerageRevenue
103155000
CY2013Q2 bgcp Equity Method Investment Summarized Financial Information Expenses
EquityMethodInvestmentSummarizedFinancialInformationExpenses
17610000
CY2013Q2 bgcp Collection Of Receivables And Associated Expenses
CollectionOfReceivablesAndAssociatedExpenses
1900000
CY2013Q2 bgcp Equities And Other Brokerage Revenue
EquitiesAndOtherBrokerageRevenue
40692000
CY2013Q2 bgcp Credit Revenue
CreditRevenue
67343000
CY2013Q2 bgcp Reduction In Diluted Shares
ReductionInDilutedShares
32200000 shares
CY2013Q2 bgcp Rates Revenue
RatesRevenue
138299000
CY2013Q2 bgcp Foreign Exchange Brokerage Revenue
ForeignExchangeBrokerageRevenue
60692000
CY2013Q2 bgcp Limited Partnership Units Redeemed
LimitedPartnershipUnitsRedeemed
77400000 shares

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