10-Q Filing

MARKETAXESS HOLDINGS INC CIK: 1278021 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-016948`
Period End Date	20160331
Filing Date	20160428
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	mktx-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 62 Income Statement 42 Cash Flow Statement 59 Stockholders Equity 15 Comprehensive Income 12

Balance Sheet 62 line items

Line Item	Tag	Value	Unit	Period
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$119.00K	USD	Point-in-time
Allowance for accounts receivable	`AllowanceForDoubtfulAccountsReceivable`	$109.00K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.86M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	4.86M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$168.92M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$161.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$199.73M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$138.00M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Investments, at fair value	`MarketableSecuritiesCurrent`	$84.71M	USD	Point-in-time
Investments, at fair value	`MarketableSecuritiesCurrent`	$147.23M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance of $119 and $109 as of March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNet`	$40.46M	USD	Point-in-time
Accounts receivable, net of allowance of $119 and $109 as of March 31, 2016 and December 31, 2015, respectively	`AccountsReceivableNet`	$52.76M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	110.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	110.00M	shares	Point-in-time
Goodwill and intangible assets, net of accumulated amortization	`IntangibleAssetsNetIncludingGoodwill`	$64.14M	USD	Point-in-time
Goodwill and intangible assets, net of accumulated amortization	`IntangibleAssetsNetIncludingGoodwill`	$63.73M	USD	Point-in-time
Furniture, equipment, leasehold improvements and capitalized software, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$30.90M	USD	Point-in-time
Furniture, equipment, leasehold improvements and capitalized software, net of accumulated depreciation and amortization	`PropertyPlantAndEquipmentNet`	$32.09M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.82M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	39.99M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.41M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	37.57M	shares	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$12.84M	USD	Point-in-time
Prepaid expenses and other assets	`PrepaidExpenseAndOtherAssets`	$9.88M	USD	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$5.20M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.41M	shares	Point-in-time
Deferred tax assets, net	`DeferredIncomeTaxAssetsNet`	$9.23M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	2.42M	shares	Point-in-time
Total assets	`Assets`	$439.04M	USD	Point-in-time
Total assets	`Assets`	$451.84M	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrentAndNoncurrent`	$29.30M	USD	Point-in-time
Accrued employee compensation	`EmployeeRelatedLiabilitiesCurrentAndNoncurrent`	$10.91M	USD	Point-in-time
Income and other tax liabilities	`TaxesPayableCurrentAndNoncurrent`	$10.91M	USD	Point-in-time
Income and other tax liabilities	`TaxesPayableCurrentAndNoncurrent`	$4.46M	USD	Point-in-time
Deferred revenue	`DeferredRevenueAndCredits`	$2.60M	USD	Point-in-time
Deferred revenue	`DeferredRevenueAndCredits`	$2.31M	USD	Point-in-time
Accounts payable, accrued expenses and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$17.00M	USD	Point-in-time
Accounts payable, accrued expenses and other liabilities	`AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent`	$12.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$41.43M	USD	Point-in-time
Total liabilities	`Liabilities`	$48.33M	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 10)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$324.95M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$321.21M	USD	Point-in-time
Treasury stock - Common stock voting, at cost, 2,418,857 and 2,412,245 shares as of March 31, 2016 and December 31, 2015, respectively	`TreasuryStockValue`	$93.41M	USD	Point-in-time
Treasury stock - Common stock voting, at cost, 2,418,857 and 2,412,245 shares as of March 31, 2016 and December 31, 2015, respectively	`TreasuryStockValue`	$94.60M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$168.01M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$187.23M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-5.23M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-7.28M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$410.42M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$390.71M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$439.04M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$451.84M	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Commissions	`FeesAndCommissions`	$67.02M	USD	1 Quarter
Commissions	`FeesAndCommissions`	$79.09M	USD	1 Quarter
Information and post-trade services	`InformationAndPostTradeServicesRevenue`	$7.68M	USD	1 Quarter
Information and post-trade services	`InformationAndPostTradeServicesRevenue`	$7.78M	USD	1 Quarter
Investment income	`NetInvestmentIncome`	$418.00K	USD	1 Quarter
Investment income	`NetInvestmentIncome`	$183.00K	USD	1 Quarter
Other	`OtherIncome`	$1.28M	USD	1 Quarter
Other	`OtherIncome`	$1.89M	USD	1 Quarter
Total revenues	`Revenues`	$76.77M	USD	1 Quarter
Total revenues	`Revenues`	$88.57M	USD	1 Quarter
Employee compensation and benefits	`LaborAndRelatedExpense`	$24.53M	USD	1 Quarter
Employee compensation and benefits	`LaborAndRelatedExpense`	$21.17M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.61M	USD	1 Quarter
Technology and communications	`CommunicationsAndInformationTechnology`	$4.30M	USD	1 Quarter
Technology and communications	`CommunicationsAndInformationTechnology`	$4.34M	USD	1 Quarter
Professional and consulting fees	`ProfessionalFees`	$3.86M	USD	1 Quarter
Professional and consulting fees	`ProfessionalFees`	$3.28M	USD	1 Quarter
Occupancy	`OccupancyNet`	$1.16M	USD	1 Quarter
Occupancy	`OccupancyNet`	$992.00K	USD	1 Quarter
Marketing and advertising	`MarketingAndAdvertisingExpense`	$1.78M	USD	1 Quarter
Marketing and advertising	`MarketingAndAdvertisingExpense`	$1.19M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$3.89M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$2.68M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$38.27M	USD	1 Quarter
Total expenses	`OperatingExpenses`	$44.20M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$38.50M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$44.37M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$15.41M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$13.91M	USD	1 Quarter
Net income	`NetIncomeLoss`	$28.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.59M	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.67	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$0.79	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.65	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$0.77	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.26	USD	1 Quarter
Cash dividends declared per common share	`CommonStockDividendsPerShareDeclared`	$0.20	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.71M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	36.77M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.67M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	37.63M	shares	1 Quarter

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$28.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.59M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$4.68M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$4.61M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.49M	USD	1 Quarter
Stock-based compensation expense	`ShareBasedCompensation`	$3.04M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$1.72M	USD	1 Quarter
Deferred taxes	`DeferredIncomeTaxesAndTaxCredits`	$2.33M	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-429.00K	USD	1 Quarter
Other	`OtherNoncashIncomeExpense`	$-329.00K	USD	1 Quarter
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.29M	USD	1 Quarter
(Increase) in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.35M	USD	1 Quarter
(Increase) in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$541.00K	USD	1 Quarter
(Increase) in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.00M	USD	1 Quarter
(Decrease) in accrued employee compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-16.35M	USD	1 Quarter
(Decrease) in accrued employee compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-18.39M	USD	1 Quarter
Increase in income and other tax liabilities	`IncreaseDecreaseInIncomeTaxes`	$3.71M	USD	1 Quarter
Increase in income and other tax liabilities	`IncreaseDecreaseInIncomeTaxes`	$6.03M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$290.00K	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$260.00K	USD	1 Quarter
Increase in accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$4.72M	USD	1 Quarter
Increase in accounts payable, accrued expenses and other liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$849.00K	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$10.03M	USD	1 Quarter
Net cash (used in) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-57.38M	USD	1 Quarter
Proceeds from maturities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$12.00M	USD	1 Quarter
Proceeds from maturities	`ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities`	$10.52M	USD	1 Quarter
Purchases	`PaymentsToAcquireAvailableForSaleSecurities`	$8.11M	USD	1 Quarter
Purchases of furniture, equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$817.00K	USD	1 Quarter
Purchases of furniture, equipment and leasehold improvements	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.65M	USD	1 Quarter
Capitalization of software development costs	`PaymentsToDevelopSoftware`	$3.04M	USD	1 Quarter
Capitalization of software development costs	`PaymentsToDevelopSoftware`	$2.65M	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-19.00K	USD	1 Quarter
Other	`PaymentsForProceedsFromOtherInvestingActivities`	$-26.00K	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.05M	USD	1 Quarter
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.34M	USD	1 Quarter
Cash dividend on common stock	`PaymentsOfOrdinaryDividends`	$9.73M	USD	1 Quarter
Cash dividend on common stock	`PaymentsOfOrdinaryDividends`	$7.52M	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$831.00K	USD	1 Quarter
Exercise of stock options	`ProceedsFromStockOptionsExercised`	$692.00K	USD	1 Quarter
Withholding tax payments on restricted stock vesting and stock option exercises	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$4.15M	USD	1 Quarter
Withholding tax payments on restricted stock vesting and stock option exercises	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.23M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$4.64M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`ExcessTaxBenefitFromShareBasedCompensationFinancingActivities`	$2.67M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.20M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$8.94M	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-10.69M	USD	1 Quarter
Net cash (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-17.24M	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-4.00K	USD	1 Quarter
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$379.00K	USD	1 Quarter
Net (decrease) for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.88M	USD	1 Quarter
Net (decrease) for the period	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-61.73M	USD	1 Quarter
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$168.92M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$161.05M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$199.73M	USD	Point-in-time
Beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$138.00M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$168.92M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$161.05M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$199.73M	USD	Point-in-time
End of period	`CashAndCashEquivalentsAtCarryingValue`	$138.00M	USD	Point-in-time

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance	`StockholdersEquity`	$410.42M	USD	Point-in-time
Beginning Balance	`StockholdersEquity`	$390.71M	USD	Point-in-time
Net income	`NetIncomeLoss`	$28.96M	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.59M	USD	1 Quarter
Cumulative translation adjustment and foreign currency exchange hedge, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.24M	USD	1 Quarter
Cumulative translation adjustment and foreign currency exchange hedge, net of tax	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-49.00K	USD	1 Quarter
Unrealized gain on securities available-for-sale, net of tax	`OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax`	$187.00K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$3.49M	USD	1 Quarter
Exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$831.00K	USD	1 Quarter
Withholding tax payments on restricted stock vesting and stock option exercises	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$5.23M	USD	1 Quarter
Excess tax benefits from stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$4.64M	USD	1 Quarter
Repurchases of common stock	`StockRepurchasedAndRetiredDuringPeriodValue`	$1.20M	USD	1 Quarter
Cash dividend on common stock	`DividendsCommonStockCash`	$9.75M	USD	1 Quarter
Ending Balance	`StockholdersEquity`	$410.42M	USD	Point-in-time
Ending Balance	`StockholdersEquity`	$390.71M	USD	Point-in-time

Comprehensive Income 12 line items

Line Item	Tag	Value	Unit	Period
Net income	`NetIncomeLoss`	$28.96M	USD	1 Quarter
Foreign currency exchange hedge, tax benefit	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$5.00K	USD	1 Quarter
Net income	`NetIncomeLoss`	$24.59M	USD	1 Quarter
Foreign currency exchange hedge, tax benefit	`OtherComprehensiveIncomeForeignCurrencyTranslationGainLossArisingDuringPeriodTax`	$2.01M	USD	1 Quarter
Securities available-for-sale, tax expense (benefit)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$115.00K	USD	1 Quarter
Net cumulative translation adjustment and foreign currency exchange hedge, net of tax of $2,012 and $5, respectively	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-2.24M	USD	1 Quarter
Net cumulative translation adjustment and foreign currency exchange hedge, net of tax of $2,012 and $5, respectively	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$-49.00K	USD	1 Quarter
Securities available-for-sale, tax expense (benefit)	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax`	$39.00K	USD	1 Quarter
Net unrealized gain on securities available-for-sale, net of tax of $115 and $39, respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$187.00K	USD	1 Quarter
Net unrealized gain on securities available-for-sale, net of tax of $115 and $39, respectively	`OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax`	$63.00K	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$24.61M	USD	1 Quarter
Comprehensive Income	`ComprehensiveIncomeNetOfTax`	$26.91M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.