v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows From Operating Activities    
Net income $ 24,276,000 $ 8,214,000
Adjustments to reconcile net income from operating activities:    
Depreciation and amortization 700,000 530,000
Noncash lease expense 1,606,000 1,483,000
Change in deferred taxes 943,000 466,000
Stock compensation expense 525,000 773,000
Unrealized loss on trading securities 2,206,000 2,479,000
Net gain on derivatives (2,312,000) 0
Net change in accrued interest (1,230,000) (173,000)
Recoveries for receivables (378,000) (1,073,000)
Changes in operating assets and liabilities:    
Lease liabilities (1,482,000) (1,470,000)
Trading securities (7,517,000) 5,555,000
Brokerage and other receivables 16,844,000 34,222,000
Loans issued 632,000 (63,000)
Other assets 128,000 (5,540,000)
Customer liabilities 621,166,000 88,453,000
Current income tax liability 3,130,000 844,000
Trade payables 30,321,000 (22,055,000)
Other liabilities 1,168,000 921,000
Net cash flows from operating activities 690,726,000 113,566,000
Cash Flows From Investing Activities    
Purchase of fixed assets (1,488,000) (721,000)
Proceeds from sale of fixed assets 214,000 7,000
Proceeds from sale of available-for-sale securities, at fair value 6,508,000 0
Net cash flows from/(used in) investing activities 5,234,000 (714,000)
Cash Flows From Financing Activities    
Proceeds from/(repurchase of) securities repurchase agreement obligations 5,275,000 (16,919,000)
Proceeds from issuance of debt securities 1,045,000 1,194,000
Repurchase of debt securities (7,300,000) (9,000)
Repayment from loans received 0 (3,916,000)
Exercise of options 0 99,000
Net cash flows used in financing activities (980,000) (19,551,000)
Effect of changes in foreign exchange rates on cash and cash equivalents 13,890,000 2,616,000
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 708,870,000 95,917,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 129,805,000 88,420,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 838,675,000 184,337,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 2,602,000 2,942,000
Income tax paid 79,000 66,000
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 658,000 0
Cash and cash equivalents 199,303,000 141,900,000
Restricted cash 639,372,000 42,437,000
Total cash, cash and cash equivalents and restricted cash shown in the statement of cash flows $ 838,675,000 $ 184,337,000

Source