Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

v3.25.0.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash Flows From Operating Activities    
Net income $ 226,884 $ 279,475
Adjustments to reconcile net income used in operating activities:    
Depreciation and amortization 12,710 11,089
Amortization of deferred acquisition costs 165,651 66,023
Noncash lease expense 9,528 6,536
Change in deferred taxes (7,308) 3,051
Stock compensation expense 36,088 3,303
Unrealized gain on trading securities (75,525) (16,222)
Unrealized gain on derivatives (4,201) (886)
Net realized loss/(gain) on available-for-sale securities 1,039 (3,145)
Net change in accrued interest (32,545) (108,129)
Revaluation of purchase price of previously held interest in Arbuz 0 (1,040)
Gain from sale of ITS tech (4,201) 0
Change in insurance reserves 164,356 58,118
Revaluation of investments in associates (2,111) 0
Change in unused vacation reserves 589 5,538
Provision for allowance for expected credit losses 39,269 15,462
Changes in operating assets and liabilities:    
Trading securities (170,899) (1,149,192)
Margin lending, brokerage and other receivables (including $(352) and $251,744 changes from related parties) (509,597) (603,701)
Insurance contract assets (6,566) 1,508
Other assets (230,615) (83,169)
Brokerage customer liabilities (including $(6,890) and $(17,509) changes from related parties) 1,187,289 71,982
Current income tax liability 15,260 23,149
Margin lending and trade payables (including $(133) and $(2,765) changes from related parties) (505,097) 30,593
Lease liabilities (8,394) (6,458)
Liabilities from insurance activity 7,493 1,879
Other liabilities 34,214 20,881
Net cash flows from/(used in) operating activities 343,311 (1,373,355)
Cash Flows Used In Investing Activities    
Purchase of fixed assets (53,581) (36,270)
Net change in loans issued to customers (341,842) (547,754)
Purchase of available-for-sale securities, at fair value (392,011) (169,653)
Proceeds from sale of available-for-sale securities, at fair value 157,939 211,390
Cash, cash equivalents and restricted cash disposed as a result of deconsolidation of Freedom UA 0 (1,987)
Cash, cash equivalents and restricted cash received from acquisitions 0 2,461
Cash received from sale of ITS Tech 2,000 0
Capital contribution to investment in associate (2,414) 0
Cash, cash equivalents disposed from sale of ITS Tech (542) 0
Prepayment on acquisitions (7,416) (17,810)
Net cash flows used in investing activities (652,628) (593,033)
Cash Flows From Financing Activities    
Net proceeds from securities repurchase agreement obligations (157,068) 1,370,587
Proceeds from issuance of debt securities 201,663 206,371
Repurchase of mortgage loans under the State Program (40,962) (30,317)
Funds received under state program for financing of mortgage loans 60,351 75,817
Net change in bank customer deposits 765,681 271,572
Purchase of non-controlling interest in Arbuz 0 (3,228)
Net proceeds from loans received 3,946 1,526
Net cash flows from financing activities 833,611 1,892,328
Effect of changes in foreign exchange rates on cash and cash equivalents (212,300) (6,449)
Effect of expected credit losses on cash and cash equivalents and restricted cash 378 0
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 312,372 (80,509)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 1,007,721 1,026,945
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 1,320,093 946,436
Arbuz Group LLP ("Arbuz")    
Cash Flows Used In Investing Activities    
Consideration paid for acquisition 0 (13,281)
Internet-Tourism LLP ("Internet Tourism")    
Cash Flows Used In Investing Activities    
Consideration paid for acquisition 0 (1,028)
Aviata LLP ("Aviata")    
Cash Flows Used In Investing Activities    
Consideration paid for acquisition 0 (16,098)
Ticketon Events LLP ("Ticketon")    
Cash Flows Used In Investing Activities    
Consideration paid for acquisition 0 (3,003)
SilkNetCom LLP    
Cash Flows Used In Investing Activities    
Consideration paid for acquisition (12,050) 0
Cash received at acquisition 54 0
Other Acquisitions    
Cash Flows Used In Investing Activities    
Consideration paid for acquisition (2,804)
Cash received at acquisition $ 39