2017 Form 10-K Financial Statement

#000156459018002713 Filed on February 21, 2018

View on sec.gov

Income Statement

Concept 2017 2016 2015 Q4
Revenue $393.4M $369.9M $76.60M
YoY Change 6.35% 22.05% 9.12%
Cost Of Revenue $20.00M $34.50M $7.300M
YoY Change -42.03% 18.97% -6.41%
Gross Profit $373.4M $335.5M $69.40M
YoY Change 11.3% 22.4% 11.4%
Gross Profit Margin 94.91% 90.7% 90.6%
Selling, General & Admin $148.7M $126.0M $27.70M
YoY Change 18.02% 16.99% 13.52%
% of Gross Profit 39.82% 37.56% 39.91%
Research & Development $17.28M
YoY Change 8.54%
% of Gross Profit 5.15%
Depreciation & Amortization $19.30M $17.80M $4.600M
YoY Change 8.43% -3.78% 4.55%
% of Gross Profit 5.17% 5.31% 6.63%
Operating Expenses $193.8M $178.3M $32.40M
YoY Change 8.69% 14.9% 12.11%
Operating Profit $199.6M $190.0M $37.00M
YoY Change 5.07% 59.78% 10.78%
Interest Expense $3.600M
YoY Change
% of Operating Profit 1.8%
Other Income/Expense, Net $2.153M $1.617M
YoY Change 33.15%
Pretax Income $201.8M $191.6M $37.00M
YoY Change 5.31% 29.55% 10.45%
Income Tax $53.68M $65.43M $12.50M
% Of Pretax Income 26.6% 34.15% 33.78%
Net Earnings $148.1M $126.2M $24.50M
YoY Change 17.37% 31.38% 13.43%
Net Earnings / Revenue 37.64% 34.11% 31.98%
Basic Earnings Per Share $4.02 $3.42
Diluted Earnings Per Share $3.89 $3.34 $651.6K
COMMON SHARES
Basic Shares Outstanding 36.86M 36.84M
Diluted Shares Outstanding 38.04M 37.74M

Balance Sheet

Concept 2017 2016 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $167.0M $168.2M $284.4M
YoY Change -0.71% -15.77% 68.4%
Cash & Equivalents $167.0M $168.2M $199.7M
Short-Term Investments $84.71M
Other Short-Term Assets $18.70M $11.60M $9.900M
YoY Change 61.21% 17.17% 47.76%
Inventory
Prepaid Expenses
Receivables $52.60M $50.70M $40.50M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $238.3M $230.5M $250.1M
YoY Change 3.38% -7.84% 19.44%
LONG-TERM ASSETS
Property, Plant & Equipment $38.50M $31.10M $30.90M
YoY Change 23.79% 0.65% -4.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $239.5M $194.4M $84.70M
YoY Change 23.2% 129.52% 30.51%
Other Assets $1.700M $8.600M $9.200M
YoY Change -80.23% -6.52% 31.43%
Total Long-Term Assets $342.9M $297.5M $188.9M
YoY Change 15.26% 57.49% 10.83%
TOTAL ASSETS
Total Short-Term Assets $238.3M $230.5M $250.1M
Total Long-Term Assets $342.9M $297.5M $188.9M
Total Assets $581.2M $528.0M $439.0M
YoY Change 10.08% 20.27% 15.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.20M $15.10M $12.30M
YoY Change -5.96% 22.76% 2.5%
Accrued Expenses $36.50M $34.80M $29.30M
YoY Change 4.89% 18.77% 15.81%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $63.80M $57.50M $46.10M
YoY Change 10.96% 24.73% 6.71%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.700M $2.500M $2.300M
YoY Change 8.0% 8.7% -8.0%
Total Long-Term Liabilities $2.700M $2.500M $2.300M
YoY Change 8.0% 8.7% -8.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $63.80M $57.50M $46.10M
Total Long-Term Liabilities $2.700M $2.500M $2.300M
Total Liabilities $66.50M $60.00M $48.33M
YoY Change 10.83% 24.22% 5.81%
SHAREHOLDERS EQUITY
Retained Earnings $168.0M
YoY Change 65.02%
Common Stock $321.2M
YoY Change 4.61%
Preferred Stock
YoY Change
Treasury Stock (at cost) $93.41M
YoY Change 32.97%
Treasury Stock Shares $2.412M
Shareholders Equity $514.8M $468.0M $390.7M
YoY Change
Total Liabilities & Shareholders Equity $581.2M $528.0M $439.0M
YoY Change 10.08% 20.27% 15.57%

Cashflow Statement

Concept 2017 2016 2015 Q4
OPERATING ACTIVITIES
Net Income $148.1M $126.2M $24.50M
YoY Change 17.37% 31.38% 13.43%
Depreciation, Depletion And Amortization $19.30M $17.80M $4.600M
YoY Change 8.43% -3.78% 4.55%
Cash From Operating Activities $168.0M $89.75M $48.20M
YoY Change 87.23% -25.33% 16.43%
INVESTING ACTIVITIES
Capital Expenditures $12.09M $6.385M -$4.200M
YoY Change 89.29% 33.16% 23.53%
Acquisitions
YoY Change
Other Investing Activities $59.00K -$414.0K $9.700M
YoY Change -114.25% -164.49% -218.29%
Cash From Investing Activities -$53.65M -$53.18M $5.500M
YoY Change 0.89% 40.12% -147.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $42.46M $23.93M
YoY Change 77.48% 3.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -117.1M -65.29M -14.50M
YoY Change 79.29% 27.89% -10.49%
NET CHANGE
Cash From Operating Activities 168.0M 89.75M 48.20M
Cash From Investing Activities -53.65M -53.18M 5.500M
Cash From Financing Activities -117.1M -65.29M -14.50M
Net Change In Cash -1.229M -31.49M 39.20M
YoY Change -96.1% -200.95% 186.13%
FREE CASH FLOW
Cash From Operating Activities $168.0M $89.75M $48.20M
Capital Expenditures $12.09M $6.385M -$4.200M
Free Cash Flow $155.9M $83.36M $52.40M
YoY Change 87.07% -27.76% 16.96%

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<div> <p style="margin-bottom:0pt;margin-top:18pt;margin-left:2.26%;font-weight:bold;font-style:italic;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;text-indent:0.24%;">Use of Estimates </p> <p style="text-align:justify;margin-bottom:0pt;margin-top:6pt;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. </p></div>
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ProceedsFromSaleAndMaturityOfMarketableSecurities
219200000
CY2016 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
69500000
CY2015 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
35200000
CY2017 us-gaap Trading Securities Unrealized Holding Loss
TradingSecuritiesUnrealizedHoldingLoss
100000
CY2016 us-gaap Trading Securities Unrealized Holding Loss
TradingSecuritiesUnrealizedHoldingLoss
200000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12167000
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8821000
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3346000
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
12148000
CY2016Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
8417000
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
3731000
CY2017 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
400000
CY2016 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
700000
CY2015 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
2300000
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
400000
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
400000
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
400000
CY2017Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
400000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
140012000
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
106283000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
101464000
CY2016Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
75179000
CY2017 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
13900000
CY2016 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
12300000
CY2017 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
36045000
CY2016 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
45455000
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
38357000
CY2017 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
3848000
CY2016 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
7087000
CY2015 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
7180000
CY2017 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
7234000
CY2016 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
6166000
CY2015 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
4346000
CY2017 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
47127000
CY2016 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
58708000
CY2015 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
49883000
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
6171000
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
5884000
CY2015 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
1492000
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
661000
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1141000
CY2015 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
299000
CY2017 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-280000
CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
-303000
CY2015 us-gaap Deferred Foreign Income Tax Expense Benefit
DeferredForeignIncomeTaxExpenseBenefit
189000
CY2017 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6552000
CY2016 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
6722000
CY2015 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1980000
CY2017 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
165200000
CY2016 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
161900000
CY2015 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
126400000
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35
CY2017 mktx Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
11700000
CY2017Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
CY2017Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
CY2017Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
CY2017Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.33
CY2016Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.26
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
120650
CY2017Q4 mktx Number Of Lease Agreements
NumberOfLeaseAgreements
1
CY2017 mktx Lease Expiration Dates
LeaseExpirationDates
2020-11
CY2017Q4 us-gaap Contractual Obligation
ContractualObligation
800000
CY2017 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
45700000
CY2016 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
37700000
CY2016 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1900000
CY2015 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1900000
CY2016Q4 mktx Mutual Fund Investments And Deferred Compensation Obligation At Fair Value
MutualFundInvestmentsAndDeferredCompensationObligationAtFairValue
1300000
CY2017 mktx Deferred Compensation Arrangement Trading Gain And Compensation Expense
DeferredCompensationArrangementTradingGainAndCompensationExpense
400000
CY2017 mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
CY2017 mktx Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax Rate Deferred Tax Assets Provisional Income Tax Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxRateDeferredTaxAssetsProvisionalIncomeTaxBenefit
6700000
CY2017 mktx Tax Cuts And Jobs Act Of2017 Incomplete Accounting Change In Tax For Accumulated Foreign Earnings Provisional Tax Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingChangeInTaxForAccumulatedForeignEarningsProvisionalTaxBenefit
5000000
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2015 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.015
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.029
CY2015 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.034
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.012
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.013
CY2015 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0.013
CY2017 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.029
CY2016 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.023
CY2015 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
EffectiveIncomeTaxRateReconciliationForeignIncomeTaxRateDifferential
-0.020
CY2017 us-gaap Effective Income Tax Rate Reconciliation Nondeductible Expense Share Based Compensation Cost
EffectiveIncomeTaxRateReconciliationNondeductibleExpenseShareBasedCompensationCost
0.116
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.058
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.002
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.266
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.341
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.351
CY2017Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
4648000
CY2016Q4 us-gaap Deferred Tax Assets Capital Loss Carryforwards
DeferredTaxAssetsCapitalLossCarryforwards
7235000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
4534000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
11307000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
1143000
CY2016Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Other
DeferredTaxAssetsTaxDeferredExpenseOther
1468000
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
11197000
CY2016Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
21919000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
4648000
CY2016Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7235000
CY2017Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
6549000
CY2016Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
14684000
CY2017Q4 mktx Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
1369000
CY2016Q4 mktx Deferred Tax Liabilities Depreciation And Amortization
DeferredTaxLiabilitiesDepreciationAndAmortization
1456000
CY2017Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Software
DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware
3479000
CY2016Q4 us-gaap Deferred Tax Liabilities Deferred Expense Capitalized Software
DeferredTaxLiabilitiesDeferredExpenseCapitalizedSoftware
4923000
CY2017Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
967000
CY2016Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssets
1037000
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
734000
CY2016Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
7268000
CY2017 mktx Additional Annual Limitations
AdditionalAnnualLimitations
50% or greater change
CY2017Q4 mktx Percentage Of Change In Ownership
PercentageOfChangeInOwnership
0.50
CY2017 mktx Additional Annual Limitations Period
AdditionalAnnualLimitationsPeriod
P3Y
CY2017Q4 mktx Capital Loss Carryforward Amount
CapitalLossCarryforwardAmount
20600000
CY2017 mktx Capital Loss Carryback During Current Period
CapitalLossCarrybackDuringCurrentPeriod
1200000
CY2015Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7294000
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
7428000
CY2017 mktx Change In Valuation Allowance For Federal And State Tax Rate
ChangeInValuationAllowanceForFederalAndStateTaxRate
2587000
CY2016 mktx Change In Valuation Allowance For Federal And State Tax Rate
ChangeInValuationAllowanceForFederalAndStateTaxRate
59000
CY2015 mktx Change In Valuation Allowance For Federal And State Tax Rate
ChangeInValuationAllowanceForFederalAndStateTaxRate
134000
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
29000
CY2017 mktx Unrecognized Tax Benefits Increases Resulting From State And Local Apportionment
UnrecognizedTaxBenefitsIncreasesResultingFromStateAndLocalApportionment
2650000
CY2017 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
29000
CY2017Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
2650000
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
265000
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
236000
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
265000
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0
CY2017 us-gaap Common Stock Voting Rights
CommonStockVotingRights
One
CY2016Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.26
CY2016Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.26
CY2016Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.26
CY2015Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2015Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2015Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2015Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.20
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
219983
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
40.08
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
32.24
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
36.46
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2016 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.019
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.019
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.019
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.280
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.330
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.567
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.008
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.010
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.011
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1014420
CY2015 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
196034
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
939036
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
112988
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
874
CY2016 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
195410
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
855740
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
54838
CY2017 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
380967
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
529611
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
254079
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
13.81
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
88.15
CY2015 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
11.60
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
23.83
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
102.40
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
101.77
CY2016 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
12.35
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
36.80
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
156.85
CY2017 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
11.26
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
67.60
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
24.61
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M18D
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P3Y
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
68068000
CY2017Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
71046000
CY2017Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
45009000
CY2017Q4 mktx Closing Price Of Common Stock
ClosingPriceOfCommonStock
201.75
CY2017Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
4300000
CY2017 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2017 mktx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Performance Shares Payout Range Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPerformanceSharesPayoutRangeMinimum
0.00
CY2017 mktx Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Performance Shares Payout Range Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsPerformanceSharesPayoutRangeMaximum
1.50
CY2017 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1174000
CY2016 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
894000
CY2015 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
947000
CY2015Q4 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
100000000
CY2017Q4 us-gaap Line Of Credit
LineOfCredit
900000
CY2015Q4 mktx Line Of Credit Facility Additional Borrowing Capacity
LineOfCreditFacilityAdditionalBorrowingCapacity
50000000
CY2017Q4 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
99100000
CY2015Q4 us-gaap Line Of Credit Facility Expiration Period
LineOfCreditFacilityExpirationPeriod
P2Y
CY2017 mktx Percentage Of Foreign Subsidiary Interest Pledged
PercentageOfForeignSubsidiaryInterestPledged
0.65
CY2017 mktx Operating Leases Expiration Date
OperatingLeasesExpirationDate
2033-12-31
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
5000000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
9659000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
10770000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
10149000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
9129000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
99166000
CY2017Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
143873000
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5300000
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4000000
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
4100000
CY2017 mktx Number Of Subsidiaries
NumberOfSubsidiaries
2
CY2017 mktx Settlement Period Of Bond Transaction
SettlementPeriodOfBondTransaction
Within one to two trading days
CY2015 us-gaap Principal Transactions Revenue
PrincipalTransactionsRevenue
16900000
CY2017Q4 us-gaap Deposits Assets
DepositsAssets
1200000
CY2016Q4 us-gaap Deposits Assets
DepositsAssets
1100000
CY2017 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2017 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
1800000
CY2017 mktx Non Qualified Deferred Cash Incentive Plan Maximum Eligibility Percentage Of Employees
NonQualifiedDeferredCashIncentivePlanMaximumEligibilityPercentageOfEmployees
1.00
CY2017Q4 mktx Mutual Fund Investments And Deferred Compensation Obligation At Fair Value
MutualFundInvestmentsAndDeferredCompensationObligationAtFairValue
3200000
CY2016 mktx Deferred Compensation Arrangement Trading Gain And Compensation Expense
DeferredCompensationArrangementTradingGainAndCompensationExpense
200000
CY2015 mktx Deferred Compensation Arrangement Trading Gain And Compensation Expense
DeferredCompensationArrangementTradingGainAndCompensationExpense
0
CY2016 mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
CY2015 mktx Concentration Risk Number Of Customer
ConcentrationRiskNumberOfCustomer
0
CY2017 mktx Percentage Of Outstanding Shares Owned By Single Client
PercentageOfOutstandingSharesOwnedBySingleClient
0.083

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