Virtu Financial Inc
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
VIRT$57.75+2.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Comprehensive Income
| Years Ended December 31, | |||
|---|---|---|---|
| (in thousands, except share and per share data) | 2023 | 2022 | 2021 |
| Revenues: | |||
| Trading income, net | $1,301,344 | $1,628,898 | $2,105,194 |
| Interest and dividends income | 462,566 | 159,120 | 75,384 |
| Commissions, net and technology services | 455,598 | 529,845 | 614,489 |
| Other, net | 73,865 | 46,949 | 16,418 |
| Total revenue | 2,293,373 | 2,364,812 | 2,811,485 |
| Operating Expenses: | |||
| Brokerage, exchange, clearance fees and payments for order flow, net | 508,358 | 619,168 | 745,434 |
| Communication and data processing | 230,760 | 219,505 | 211,988 |
| Employee compensation and payroll taxes | 394,039 | 390,947 | 376,282 |
| Interest and dividends expense | 500,467 | 231,060 | 139,704 |
| Operations and administrative | 98,972 | 86,069 | 88,149 |
| Depreciation and amortization | 63,306 | 66,377 | 67,816 |
| Amortization of purchased intangibles and acquired capitalized software | 63,960 | 64,837 | 69,668 |
| Termination of office leases | 455 | 6,982 | 28,138 |
| Debt issue cost related to debt refinancing, prepayment and commitment fees | 8,317 | 29,910 | 6,590 |
| Transaction advisory fees and expenses | 314 | 1,124 | 843 |
| Financing interest expense on long-term borrowings | 99,294 | 92,035 | 79,969 |
| Total operating expenses | 1,968,242 | 1,808,014 | 1,814,581 |
| Income before income taxes and noncontrolling interest | 325,131 | 556,798 | 996,904 |
| Provision for income taxes | 61,210 | 88,466 | 169,670 |
| Net income | 263,921 | 468,332 | 827,234 |
| Noncontrolling interest | (121,885) | (203,306) | (350,356) |
| Net income available for common stockholders | $142,036 | $265,026 | $476,878 |
| Earnings per share | |||
| Basic | $1.42 | $2.45 | $3.95 |
| Diluted | $1.42 | $2.44 | $3.91 |
| Weighted average common shares outstanding | |||
| Basic | 94,076,165 | 103,997,767 | 117,339,539 |
| Diluted | 94,076,165 | 104,422,443 | 118,423,928 |
| Net income | $263,921 | $468,332 | $827,234 |
| Other comprehensive income | |||
| Foreign exchange translation adjustment, net of taxes | 4,957 | (24,254) | (12,470) |
| Net change in unrealized cash flow hedges gain (loss), net of taxes | (36,993) | 90,865 | 37,794 |
| Comprehensive income | 231,885 | 534,943 | 852,558 |
| Less: Comprehensive income attributable to noncontrolling interest | (104,406) | (228,117) | (360,389) |
| Comprehensive income attributable to common stockholders | $127,479 | $306,826 | $492,169 |
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