2015 Q2 Form 10-Q Financial Statement

#000119312515284543 Filed on August 10, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2014 Q2
Revenue $669.1M $417.2M
YoY Change 60.39% -65.03%
Cost Of Revenue $4.100M $2.100M
YoY Change 95.24% -8.7%
Gross Profit $665.0M $415.1M
YoY Change 60.2% -11.49%
Gross Profit Margin 99.38% 99.5%
Selling, General & Admin $577.0M $377.2M
YoY Change 52.97% -58.7%
% of Gross Profit 86.77% 90.87%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $7.600M $7.400M
YoY Change 2.7% -8.64%
% of Gross Profit 1.14% 1.78%
Operating Expenses $654.9M $402.7M
YoY Change 62.64% -59.12%
Operating Profit $10.10M $12.43M
YoY Change -18.77% -102.41%
Interest Expense $18.44M $9.230M
YoY Change 99.77% -7.6%
% of Operating Profit 182.56% 74.23%
Other Income/Expense, Net $3.058M $379.0K
YoY Change 706.86% -99.37%
Pretax Income $17.29M $14.92M
YoY Change 15.92% -92.84%
Income Tax $2.272M $3.600M
% Of Pretax Income 13.14% 24.14%
Net Earnings $9.347M $7.601M
YoY Change 22.97% -77.95%
Net Earnings / Revenue 1.4% 1.82%
Basic Earnings Per Share $0.04 $0.03
Diluted Earnings Per Share $0.04 $0.03
COMMON SHARES
Basic Shares Outstanding 244.9M shares 220.8M shares
Diluted Shares Outstanding 366.8M shares 326.6M shares

Balance Sheet

Concept 2015 Q2 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $412.3M $608.5M
YoY Change -32.24% -43.15%
Cash & Equivalents $364.0M $558.2M
Short-Term Investments $48.28M $50.26M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $1.516B $1.100B
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.880B $1.658B
YoY Change 13.38% -40.33%
LONG-TERM ASSETS
Property, Plant & Equipment $147.3M $116.6M
YoY Change 26.25% -11.77%
Goodwill $933.6M $184.2M
YoY Change 406.73% 12.56%
Intangibles $337.2M $17.22M
YoY Change 1858.24% -16.59%
Long-Term Investments $31.68M $21.07M
YoY Change 50.37% -3.05%
Other Assets
YoY Change
Total Long-Term Assets $2.092B $794.5M
YoY Change 163.31% 18.64%
TOTAL ASSETS
Total Short-Term Assets $1.880B $1.658B
Total Long-Term Assets $2.092B $794.5M
Total Assets $3.972B $2.452B
YoY Change 61.95% -28.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.017B $762.1M
YoY Change 33.38% -48.02%
Accrued Expenses $318.1M $201.9M
YoY Change 57.55% -26.29%
Deferred Revenue
YoY Change
Short-Term Debt $50.00M $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.432B $575.8M
YoY Change 148.77% -66.91%
LONG-TERM LIABILITIES
Long-Term Debt $841.2M $409.1M
YoY Change 105.62% -3.47%
Other Long-Term Liabilities $3.700M
YoY Change
Total Long-Term Liabilities $841.2M $412.8M
YoY Change 103.78% -2.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.432B $575.8M
Total Long-Term Liabilities $841.2M $412.8M
Total Liabilities $2.841B $1.751B
YoY Change 62.31% -32.93%
SHAREHOLDERS EQUITY
Retained Earnings -$306.5M -$204.8M
YoY Change 49.66% 40.44%
Common Stock $1.019B $772.5M
YoY Change 31.9% 7.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $206.8M $157.8M
YoY Change 31.01% 43.19%
Treasury Stock Shares
Shareholders Equity $546.7M $415.7M
YoY Change
Total Liabilities & Shareholders Equity $3.972B $2.452B
YoY Change 61.95% -28.88%

Cashflow Statement

Concept 2015 Q2 2014 Q2
OPERATING ACTIVITIES
Net Income $9.347M $7.601M
YoY Change 22.97% -77.95%
Depreciation, Depletion And Amortization $7.600M $7.400M
YoY Change 2.7% -8.64%
Cash From Operating Activities $68.90M $29.10M
YoY Change 136.77% -44.57%
INVESTING ACTIVITIES
Capital Expenditures -$12.80M -$6.600M
YoY Change 93.94% 3.13%
Acquisitions
YoY Change
Other Investing Activities -$45.60M -$22.90M
YoY Change 99.13% -103.06%
Cash From Investing Activities -$58.30M -$29.50M
YoY Change 97.63% -103.98%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -75.20M -80.60M
YoY Change -6.7% 33.0%
NET CHANGE
Cash From Operating Activities 68.90M 29.10M
Cash From Investing Activities -58.30M -29.50M
Cash From Financing Activities -75.20M -80.60M
Net Change In Cash -64.60M -81.00M
YoY Change -20.25% -111.05%
FREE CASH FLOW
Cash From Operating Activities $68.90M $29.10M
Capital Expenditures -$12.80M -$6.600M
Free Cash Flow $81.70M $35.70M
YoY Change 128.85% -39.39%

Facts In Submission

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552790000
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3508000
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640761000
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97500000
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27980000
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32508000
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112020000
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62736000
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200958000
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39530000
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228331000
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183000
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0
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17392000
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392570000
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648277000
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361069000
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12185000
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60300000
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3691000
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16927000
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292050000
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3508000
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3508000
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51715000
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559142000
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884000
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2000000 shares
CY2014Q4 bgcp Notes Payable And Collateralized Borrowings
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556700000
CY2014Q4 bgcp Estimated Fair Value Of Limited Partnership Units
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11800000
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68800000
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153000
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125000000
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3508000
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17100000 shares
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0.10 pure
us-gaap Earnings Per Share Diluted
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0.07
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29158000
us-gaap Common Stock Dividends Per Share Cash Paid
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0.24
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324300000 shares
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762000 shares
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220689000 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
us-gaap Revenue From Related Parties
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14999000
us-gaap Interest Income Operating
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3997000
us-gaap Payments For Software
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7271000
us-gaap Payments To Acquire Property Plant And Equipment
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5204000
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4058000
us-gaap Payments To Acquire Marketable Securities
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7795000
us-gaap Other Income
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12097000
us-gaap Net Income Loss
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15609000
us-gaap Increase Decrease In Brokerage Receivables
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462130000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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538000
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-1171000
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94000
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15609000
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861991000
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464000
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78846000
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16174000
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21817000
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52498000
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174580000
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1483000
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2660000
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47685000
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12955000
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595264000
us-gaap Sales Revenue From Energy Commodities And Services
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26208000
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21223000
us-gaap Increase Decrease In Due From Employee Current
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26090000
us-gaap Income Taxes Paid
IncomeTaxesPaid
51591000
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CapitalizedComputerSoftwareImpairments
3700000
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OtherNonoperatingIncomeExpense
-556000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-4119000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
7134000
us-gaap Revenues Excluding Interest And Dividends
RevenuesExcludingInterestAndDividends
857994000
us-gaap Payments To Acquire Equity Method Investments
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6942000
us-gaap Foreign Currency Transaction Gain Loss Realized
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720000
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-1159000
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-3477000
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15688000
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1253000
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1599000
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26161000
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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18900000
us-gaap Capitalized Computer Software Amortization
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5200000
us-gaap Principal Transactions Revenue
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152258000
us-gaap Net Income Loss Available To Common Stockholders Diluted
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22663000
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1315500000
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1751000
us-gaap Payments To Minority Shareholders
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26709000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
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21911000
us-gaap Income Loss From Equity Method Investments
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-3563000
us-gaap Income Tax Expense Benefit
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4344000
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30166000
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4500000
us-gaap Amortization Of Financing Costs And Discounts
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2388000
us-gaap Cash And Cash Equivalents Period Increase Decrease
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-158727000
us-gaap Operating Expenses
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831711000
us-gaap Capitalized Computer Software Additions
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7300000
us-gaap Interest Expense
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18565000
us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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-40311000
us-gaap Increase Decrease In Financial Instruments Sold Not Yet Purchased
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1652000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-147929000
us-gaap Deferred Income Tax Expense Benefit
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1116000
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3940000
us-gaap Marketing And Advertising Expense
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36280000
us-gaap Increase Decrease In Accounts Payable Related Parties
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3693000
us-gaap Stock Option Plan Expense
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0
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
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-30884000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
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6223000
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76622000
us-gaap Floor Brokerage Exchange And Clearance Fees
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9781000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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355000
us-gaap Increase Decrease In Payables To Broker Dealers
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439277000
us-gaap Cost Of Services Direct Labor
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539617000
us-gaap Professional Fees
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21245000
us-gaap Amortization Of Intangible Assets
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1200000
us-gaap Communication
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41770000
us-gaap Increase Decrease In Accrued Salaries
IncreaseDecreaseInAccruedSalaries
5294000
us-gaap Noninterest Expense
NoninterestExpense
813146000
us-gaap Asset Impairment Charges
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3723000
us-gaap Depreciation
Depreciation
15200000
us-gaap Depreciation Depletion And Amortization
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21608000
us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
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129944000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
6208000
bgcp Allocation Of Income To Limited Partnership Interest Diluted
AllocationOfIncomeToLimitedPartnershipInterestDiluted
7052000
bgcp Re Allocation Of Equity Due To Additional Investment By Founding Working Partners
ReAllocationOfEquityDueToAdditionalInvestmentByFoundingWorkingPartners
286000
bgcp Credit Revenue
CreditRevenue
124369000
bgcp Incremental Common Shares Attributable To Other Instruments
IncrementalCommonSharesAttributableToOtherInstruments
778000 shares
bgcp Collection Of Receivables And Associated Expenses
CollectionOfReceivablesAndAssociatedExpenses
2900000
bgcp Foreign Exchange Brokerage Revenue
ForeignExchangeBrokerageRevenue
101345000
bgcp Dividend Equivalent Expense On Rsus
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2000
bgcp Allocation Of Income To Limited Partnership Interest
AllocationOfIncomeToLimitedPartnershipInterest
8407000
bgcp Equities And Other Brokerage Revenue
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60180000
bgcp Exchange Of Founding Working Partner Interests
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695000
bgcp Market Data And Software Solutions Revenue
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4530000
bgcp Sublease Provision Adjustment
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-225000
bgcp Allocation Of Net Income And Grant Of Exchangeability To Limited Partnership Units And Founding Working Partner Units
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53725000
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218349000
bgcp Related Party Revenue
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600000
bgcp Limited Partnership Units Average Redemption Price Per Unit
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6.58
bgcp Employee Loan Amortization And Reserve On Employee Loans
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14284000
bgcp Capitalization Of Patent Defense And Registration Costs
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144000
bgcp Compensation And Employee Benefit Net
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593342000
bgcp Issuance Of Common Stock Upon Exchange Of Limited Partnership Interests
IssuanceOfCommonStockUponExchangeOfLimitedPartnershipInterests
34923000
bgcp Redemption Of Founding Working Partner Interests
RedemptionOfFoundingWorkingPartnerInterests
855000
bgcp Incremental Common Shares Attributable To Limited Partnership Interests
IncrementalCommonSharesAttributableToLimitedPartnershipInterests
102071000 shares
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P15Y2M12D
bgcp Real Estate Brokerage Revenue
RealEstateBrokerageRevenue
42491000
bgcp Equity Based Compensation And Allocations Of Net Income To Limited Partnership Units And Founding Or Working Partner Units
EquityBasedCompensationAndAllocationsOfNetIncomeToLimitedPartnershipUnitsAndFoundingOrWorkingPartnerUnits
60049000
bgcp Temporary Equity Earnings Distributions
TemporaryEquityEarningsDistributions
822000
bgcp Stock Released During Period Restricted Shares
StockReleasedDuringPeriodRestrictedShares
5600000 shares
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.10
us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-6687000
us-gaap Treasury Stock Shares Acquired
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741081 shares
us-gaap Number Of Operating Segments
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2 Segments
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7.94
us-gaap Common Stock Dividends Per Share Cash Paid
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0.26
dei Document Fiscal Year Focus
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2015
dei Amendment Flag
AmendmentFlag
false
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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5000 shares
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001094831
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P1Y10M24D
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
9.57
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
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0
us-gaap Common Stock Dividends Per Share Declared
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0.26
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Entity Registrant Name
EntityRegistrantName
BGC PARTNERS, INC.
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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352707000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
944000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.98
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
233504000 shares
dei Document Period End Date
DocumentPeriodEndDate
2015-06-30
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
30000 shares
dei Trading Symbol
TradingSymbol
BGCP
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.10
us-gaap Due To And From Broker Dealers And Clearing Organizations Disclosure
DueToAndFromBrokerDealersAndClearingOrganizationsDisclosure
<div> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="4%" align="left"><b>10.</b></td> <td valign="top" align="left"><b>Receivables from and Payables to Broker-Dealers, Clearing Organizations, Customers and Related Broker-Dealers.</b></td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt; TEXT-INDENT: 8%"> 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, including derivative contracts into which the Company may enter into to minimize the effect of price changes of the Company&#x2019;s NASDAQ OMX shares (see Note 11&#x2014;&#x201C;Derivatives&#x201D;). As of June&#xA0;30, 2015 and December&#xA0;31, 2014, receivables from and payables to broker-dealers, clearing organizations, customers and related broker-dealers consisted of the following (in thousands):</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 12pt; MARGIN-TOP: 0pt"> &#xA0;</p> <table style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; BORDER-COLLAPSE: collapse" cellspacing="0" cellpadding="0" width="76%" align="center" border="0"> <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 style="FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman"> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>June&#xA0;30,<br /> 2015</b></td> <td valign="bottom">&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td style="BORDER-BOTTOM: #000000 1pt solid" valign="bottom" colspan="2" align="center"><b>December&#xA0;31,<br /> 2014</b></td> <td valign="bottom">&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Receivables from broker-dealers, clearing organizations, customers and related broker-dealers:</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Contract values of fails to deliver</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">963,667</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">559,142</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Receivables from clearing organizations</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">130,548</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">60,300</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Other receivables from broker-dealers and customers</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">21,172</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">16,927</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Net pending trades</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">427</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">884</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Open derivative contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3,998</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">3,508</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 0pt"> <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 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Total</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">1,119,812</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">640,761</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 0pt"> <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 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 1em; TEXT-INDENT: -1em"> Payables to broker-dealers, clearing organizations, customers and related broker-dealers:</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom"></td> <td valign="bottom"></td> <td valign="bottom"></td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Contract values of fails to receive</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">892,464</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">552,790</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Payables to clearing organizations</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">57,909</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">79,848</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Other payables to broker-dealers and customers</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">25,655</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">13,378</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 3em; TEXT-INDENT: -1em"> Open derivative contracts</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">1,607</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;</td> <td valign="bottom" align="right">153</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 0pt"> <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 style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman" bgcolor="#CCEEFF"> <td valign="top"> <p style="FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 5em; TEXT-INDENT: -1em"> Total</p> </td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">977,635</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> <td valign="bottom">&#xA0;&#xA0;</td> <td valign="bottom">$</td> <td valign="bottom" align="right">646,169</td> <td valign="bottom" nowrap="nowrap">&#xA0;&#xA0;</td> </tr> <tr style="FONT-SIZE: 0pt"> <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-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> A portion of these receivables and payables are with Cantor. See Note 13&#x2014;&#x201C;Related Party Transactions,&#x201D; for additional information related to these receivables and payables.</p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 12pt; TEXT-INDENT: 8%"> Substantially all open fails to deliver, open fails to receive and pending trade transactions as of June&#xA0;30, 2015 have subsequently settled at the contracted amounts.</p> </div>
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NumberOfReportableSegments
2 Segment
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RevenueFromRelatedParties
12701000
us-gaap Interest Income Operating
InterestIncomeOperating
4866000
us-gaap Payments For Software
PaymentsForSoftware
6948000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14210000
us-gaap Marketable Securities Realized Gain Loss
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29040000
us-gaap Increase Decrease In Accounts And Other Receivables
IncreaseDecreaseInAccountsAndOtherReceivables
-1977000
us-gaap Other Income
OtherIncome
4571000
us-gaap Net Income Loss
NetIncomeLoss
23402000
us-gaap Increase Decrease In Brokerage Receivables
IncreaseDecreaseInBrokerageReceivables
-229099000
us-gaap Repayments Of Short Term Debt
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20000000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
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488000
us-gaap Marketable Securities Unrealized Gain Loss
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837000
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33100000
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-23283000
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23402000
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-62499000
us-gaap Revenues
Revenues
1216698000
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
12336000
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StockIssuedDuringPeriodValueConversionOfConvertibleSecuritiesNetOfAdjustments
150000000
us-gaap Management Fees Revenue
ManagementFeesRevenue
87130000
us-gaap Interest Paid
InterestPaid
25660000
us-gaap Profit Loss
ProfitLoss
41241000
us-gaap Payments Of Dividends Common Stock
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60995000
us-gaap Other Real Estate Revenue
OtherRealEstateRevenue
233784000
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
485000
us-gaap Increase Decrease In Financial Instruments Used In Operating Activities
IncreaseDecreaseInFinancialInstrumentsUsedInOperatingActivities
-4142000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
5886000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
155518000
us-gaap Brokerage Commissions Revenue
BrokerageCommissionsRevenue
903093000
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SalesRevenueFromEnergyCommoditiesAndServices
84219000
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IncreaseDecreaseInOtherOperatingAssets
-4033000
us-gaap Increase Decrease In Due From Employee Current
IncreaseDecreaseInDueFromEmployeeCurrent
50015000
us-gaap Income Taxes Paid
IncomeTaxesPaid
15374000
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CapitalizedComputerSoftwareImpairments
17700000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
32531000
us-gaap Increase Decrease In Securities Loaned Transactions
IncreaseDecreaseInSecuritiesLoanedTransactions
47792000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
34846000
us-gaap Increase Decrease In Restricted Cash For Operating Activities
IncreaseDecreaseInRestrictedCashForOperatingActivities
-3868000
us-gaap Revenues Excluding Interest And Dividends
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1211832000
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PaymentsToAcquireEquityMethodInvestments
687000
us-gaap Foreign Currency Transaction Gain Loss Realized
ForeignCurrencyTransactionGainLossRealized
621000
us-gaap Gain Loss On Sale Of Business
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537000
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
19463000
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
2259000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-16351000
us-gaap Increase Decrease Due From Affiliates
IncreaseDecreaseDueFromAffiliates
1659000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2847000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6932000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
1643000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
53559000
us-gaap Payments For Repurchase Of Redeemable Noncontrolling Interest
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14400000
us-gaap Noncontrolling Interest Increase From Business Combination
NoncontrollingInterestIncreaseFromBusinessCombination
488000
us-gaap Noncontrolling Interest Increase From Sale Of Parent Equity Interest
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50577000
us-gaap Capitalized Computer Software Amortization
CapitalizedComputerSoftwareAmortization
11200000
us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
165117000
us-gaap Net Income Loss Available To Common Stockholders Diluted
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33997000
us-gaap Business Acquisitions Pro Forma Revenue
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1379900000
us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
5633000
us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
39155000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
17958000
us-gaap Adjustments To Additional Paid In Capital Other
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11400000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
1636000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12318000
us-gaap Other Expenses
OtherExpenses
48220000
us-gaap Goodwill Purchase Accounting Adjustments
GoodwillPurchaseAccountingAdjustments
2984000
us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
1100000
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
2958000
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-284264000
us-gaap Operating Expenses
OperatingExpenses
1197985000
us-gaap Proceeds From Issuance Of Secured Debt
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27886000
us-gaap Capitalized Computer Software Additions
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7000000
us-gaap Interest Expense
InterestExpense
34341000
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-183738000
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-1754000
us-gaap Increase Decrease In Financial Instruments Sold Not Yet Purchased
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-1557000
us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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-114406000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2160000
us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
8688000
us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
47239000
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15755000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
275000
us-gaap Stock Option Plan Expense
StockOptionPlanExpense
0
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IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
-117301000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
15111000
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106073000
us-gaap Floor Brokerage Exchange And Clearance Fees
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EffectOfExchangeRateOnCashAndCashEquivalents
-2661000
us-gaap Minority Interest Decrease From Redemptions
MinorityInterestDecreaseFromRedemptions
156000
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-308983000
us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
NetIncomeLossAttributableToRedeemableNoncontrollingInterest
1080000
us-gaap Cost Of Services Direct Labor
CostOfServicesDirectLabor
778989000
us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
39155000
us-gaap Professional Fees
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37383000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
13600000
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57047000
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IncreaseDecreaseInAccruedSalaries
-70959000
us-gaap Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
11360000
us-gaap Noninterest Expense
NoninterestExpense
1163644000
us-gaap Asset Impairment Charges
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559000
us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
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1102000
us-gaap Depreciation
Depreciation
15500000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
40283000
us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsNoncashItemsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
174622000
us-gaap Dividends Common Stock
DividendsCommonStock
60995000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
17839000
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539779000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
121600000
bgcp Allocation Of Income To Limited Partnership Interest Diluted
AllocationOfIncomeToLimitedPartnershipInterestDiluted
10595000
bgcp Issuance Of Contingent Common Stock And Limited Partnership Units For Acquisitions
IssuanceOfContingentCommonStockAndLimitedPartnershipUnitsForAcquisitions
12800000
bgcp Limited Partnership Units Exchange Ratio
LimitedPartnershipUnitsExchangeRatio
1 pure
bgcp Re Allocation Of Equity Due To Additional Investment By Founding Working Partners
ReAllocationOfEquityDueToAdditionalInvestmentByFoundingWorkingPartners
80000
bgcp Credit Revenue
CreditRevenue
141369000
bgcp Limited Partnership Interests Exchange Ratio
LimitedPartnershipInterestsExchangeRatio
1 pure
bgcp Incremental Common Shares Attributable To Other Instruments
IncrementalCommonSharesAttributableToOtherInstruments
900000 shares
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RedemptionsAndRepurchasesAveragePrice
8.58
bgcp Collection Of Receivables And Associated Expenses
CollectionOfReceivablesAndAssociatedExpenses
1200000
bgcp Foreign Exchange Brokerage Revenue
ForeignExchangeBrokerageRevenue
155345000
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679000
bgcp Allocation Of Income To Limited Partnership Interest
AllocationOfIncomeToLimitedPartnershipInterest
15257000
bgcp Issuance Of Class Common Stock For Acquisitions
IssuanceOfClassCommonStockForAcquisitions
32263000
bgcp Equities And Other Brokerage Revenue
EquitiesAndOtherBrokerageRevenue
90216000
bgcp Exchange Of Founding Working Partner Interests
ExchangeOfFoundingWorkingPartnerInterests
546000
bgcp Market Data And Software Solutions Revenue
MarketDataAndSoftwareSolutionsRevenue
39220000
bgcp Sublease Provision Adjustment
SubleaseProvisionAdjustment
924000
bgcp Allocation Of Net Income And Grant Of Exchangeability To Limited Partnership Units And Founding Working Partner Units
AllocationOfNetIncomeAndGrantOfExchangeabilityToLimitedPartnershipUnitsAndFoundingWorkingPartnerUnits
63254000
bgcp Rates Revenue
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248357000
bgcp Related Party Revenue
RelatedPartyRevenue
200000
bgcp Limited Partnership Units Average Redemption Price Per Unit
LimitedPartnershipUnitsAverageRedemptionPricePerUnit
8.73
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PaymentSpecifiedPercentageOfGrossProceedsFromSaleOfShares
0.02 pure
bgcp Post Termination Award Payout Period
PostTerminationAwardPayoutPeriod
Four equal yearly installments
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EmployeeLoanAmortizationAndReserveOnEmployeeLoans
19761000
bgcp Capitalization Of Patent Defense And Registration Costs
CapitalizationOfPatentDefenseAndRegistrationCosts
742000
bgcp Senior Notes Redemption Price Percentage
SeniorNotesRedemptionPricePercentage
1.00 pure
bgcp Restricted Stock Units Vesting Description
RestrictedStockUnitsVestingDescription
Each RSU is settled in one share of Class A common stock upon completion of the vesting period.
bgcp Number Of Operating Partnerships
NumberOfOperatingPartnerships
2 Partnership
bgcp Redemptions And Repurchases
RedemptionsAndRepurchases
4023893 shares
bgcp Compensation And Employee Benefit Net
CompensationAndEmployeeBenefitNet
842243000
bgcp Issuance Of Common Stock Upon Exchange Of Limited Partnership Interests
IssuanceOfCommonStockUponExchangeOfLimitedPartnershipInterests
32998000
bgcp Redemption Of Founding Working Partner Interests
RedemptionOfFoundingWorkingPartnerInterests
59000
bgcp Incremental Common Shares Attributable To Limited Partnership Interests
IncrementalCommonSharesAttributableToLimitedPartnershipInterests
117359000 shares
bgcp Real Estate Brokerage Revenue
RealEstateBrokerageRevenue
114920000
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y3M18D
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OtherComprehensiveIncomeLossNetOfTax
12301000
CY2014 us-gaap Profit Loss
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6.87
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286720000
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104083000 shares
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20866000
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0.04
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0.14
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20800000 shares
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0.14
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944000 shares
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27000 shares
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