v3.20.2
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash Flows From Operating Activities    
Net income $ 47,839,000 $ 16,850,000
Adjustments to reconcile net income from operating activities:    
Depreciation and amortization 1,655,000 1,382,000
Noncash lease expense 3,302,000 2,628,000
Loss on sale of fixed assets 0 201,000
Change in deferred taxes 1,465,000 670,000
Stock compensation expense 1,055,000 1,554,000
Share based payment 0 836,000
Unrealized (gain)/loss on trading securities (263,000) 247,000
Net loss on derivatives 885,000 0
Net change in accrued interest (328,000) 530,000
Allowance/(recoveries) for receivables 666,000 (1,468,000)
Changes in operating assets and liabilities:    
Lease liabilities (3,188,000) (3,104,000)
Derivative assets (2,311,000) 0
Trading securities (156,896,000) (1,513,000)
Brokerage and other receivables (48,257,000) 150,000
Loans issued 501,000 (4,215,000)
Other assets (804,000) (5,469,000)
Derivative liabilities 0 80,000
Customer liabilities 361,634,000 69,954,000
Current income tax liability 3,847,000 1,852,000
Trade payables 84,777,000 (25,570,000)
Securities sold, not yet purchased 0 3,631,000
Other liabilities 1,457,000 254,000
Net cash flows from operating activities 297,036,000 62,506,000
Cash Flows From Investing Activities    
Purchase of fixed assets (2,129,000) (1,903,000)
Proceeds from sale of fixed assets 271,000 245,000
Proceeds from sale/(purchase) of available-for-sale securities, at fair value 6,437,000 (8,560,000)
Prepayment on acquisition (4,170,000) 0
Consideration paid for Zerich Capital Management (7,110,000) 0
Cash, cash equivalents and restricted cash received from acquisitions 27,991,000 0
Net cash flows from/(used in) investing activities 21,290,000 (10,218,000)
Cash Flows From Financing Activities    
Repurchase of securities repurchase agreement obligations 138,149,000 (1,404,000)
Proceeds from issuance of debt securities 1,991,000 2,909,000
Repurchase of debt securities (8,196,000) (4,441,000)
Repayment of loans received 0 (3,919,000)
Exercise of options 0 99,000
Net cash flows from/(used in) financing activities 131,944,000 (6,756,000)
Effect of changes in foreign exchange rates on cash and cash equivalents 28,451,000 1,900,000
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 421,819,000 43,632,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 129,805,000 88,420,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 551,624,000 132,052,000
Supplemental disclosure of cash flow information:    
Cash paid for interest 6,498,000 5,137,000
Income tax paid 3,389,000 1,825,000
Supplemental non-cash disclosures:    
Operating lease right-of-use assets obtained in exchange for operating lease obligations 0 16,979,000
Lease obligations obtained on adoption of new lease standard 1,406,000 0
Cash and cash equivalents 443,439,000 63,208,000
Restricted cash 108,185,000 66,597,000
Total cash, cash and cash equivalents and restricted cash as shown in the statement of cash flows $ 551,624,000 $ 132,052,000

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