can anyone explain what "Securities sold, not yet purchased, at market value" in nites 10Q
$ 524,896,966 $ 345,457,499
KNIGHT CAPITAL GROUP, INC.
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
September 30,
2006 December 31,
2005
Assets
Cash and cash equivalents
$ 186,734,507 $ 230,591,067
Securities owned, held at clearing brokers, at market value
551,598,006 380,366,778
Receivable from brokers and dealers
410,866,093 229,828,734
Investment in Deephaven sponsored funds
203,008,086 281,656,753
Fixed assets and leasehold improvements, at cost, less accumulated depreciation and amortization
67,000,963 67,656,533
Strategic investments
38,393,130 31,896,425
Goodwill
118,084,040 47,682,880
Intangible assets, less accumulated amortization
61,408,907 29,773,442
Other assets
153,029,080 116,563,732
Total assets
$ 1,790,122,812 $ 1,416,016,344
Liabilities and Stockholders’ Equity
Liabilities
Securities sold, not yet purchased, at market value
$ 524,896,966 $ 345,457,499
Payable to brokers and dealers
69,314,171 35,102,415
Accrued compensation expense
163,878,236 117,763,834
Accrued expenses and other liabilities
77,030,897 94,244,447
Total liabilities
835,120,270 592,568,195
Stockholders’ equity
Class A Common Stock, $0.01 par value;
Shares authorized: 500,000,000;
Shares issued: 144,769,159 at September 30, 2006
and 139,745,722 at December 31, 2005;
Shares outstanding: 105,604,165 at September 30, 2006
and 102,966,359 at December 31, 2005
1,447,692 1,397,457
Additional paid-in capital
512,714,027 452,839,356
Retained earnings
764,445,541 653,513,691
Treasury stock, at cost; 39,164,994 shares at September 30, 2006
and 36,779,363 shares at December 31, 2005
(332,310,837 ) (294,652,742 )
Accumulated other comprehensive income, net of tax
8,706,119 10,350,387
Total stockholders’ equity
955,002,542 823,448,149
Total liabilities and stockholders’ equity
$ 1,790,122,812 $ 1,416,016,344
The accompanying notes are an integral part of these condensed consolidated financial statements.
