Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities    
Net income $ 142,924,000 $ 22,130,000
Adjustments to reconcile net income from operating activities:    
Depreciation and amortization 3,825,000 2,658,000
Noncash lease expense 6,136,000 6,298,000
Loss on sale of fixed assets 0 201,000
Change in deferred taxes 2,737,000 545,000
Stock compensation expense 1,147,000 2,625,000
Share based payment 517,000 1,052,000
Unrealized (gain)/loss on trading securities (6,919,000) 7,847,000
Net change in accrued interest (13,074,000) (816,000)
Allowance/(recovery) for receivables 1,561,000 (1,164,000)
Changes in operating assets and liabilities:    
Trading securities (507,493,000) (22,870,000)
Brokerage and other receivables, net 49,303,000 (47,089,000)
Loans issued (850,000) (7,787,000)
Other assets, net (8,780,000) (5,619,000)
Securities sold, but not yet purchased - at fair value 8,532,000 0
Customer liabilities 860,438,000 115,844,000
Current income tax liability 12,147,000 650,000
Trade payables 15,060,000 (23,933,000)
Changes in lease liability (5,997,000) (6,474,000)
Other liabilities 4,085,000 173,000
Net cash flows from operating activities 565,299,000 44,271,000
Cash Flows From Investing Activities    
Purchase of fixed assets (4,163,000) (4,631,000)
Proceeds from sale of fixed assets 91,000 285,000
Proceeds from sale/(purchase) of available-for-sale securities, at fair value 6,437,000 (6,508,000)
Consideration paid for Zerich (7,110,000) 0
Consideration paid for PrimeEx (2,500,000) 0
Consideration paid for Freedom Bank KZ (53,097,000) 0
Cash, cash equivalents and restricted cash received from acquisitions 157,382,000 0
Net cash flows from/(used in) investing activities 97,040,000 (10,854,000)
Cash Flows From Financing Activities    
Repurchase/(repayment) of securities repurchase agreement obligations 349,717,000 (16,730,000)
Proceeds from issuance of debt securities 3,626,000 62,970,000
Repurchase of debt securities (8,350,000) (9,578,000)
Exercise of options 118,000 455,000
Proceeds from loans received 3,300,000 0
Repayment of loans received 0 (4,008,000)
Net cash flows from financing activities 348,411,000 33,109,000
Effect of changes in foreign exchange rates on cash and cash equivalents (3,769,000) (25,141,000)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 1,006,981,000 41,385,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 129,805,000 88,420,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 1,136,786,000 129,805,000
Supplemental disclosure of cash flow information:    
Cash paid for interest (23,903,000) (9,538,000)
Income tax paid (15,044,000) (5,286,000)
Supplemental non-cash disclosures:    
Operating lease right-of-use assets obtained in exchange for operating lease obligations on adoption of new lease standard 0 16,979,000
Operating lease right-of-use assets obtained/disposed of in exchange for operating lease obligations during the period, net 3,439,000 4,722,000
Cash and cash equivalents 698,828,000 63,208,000
Restricted cash 437,958,000 66,597,000
Total cash, cash and cash equivalents and restricted cash shown in the statement of cash flows $ 1,136,786,000 $ 129,805,000