XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Revenues:    
Commissions $ 349 $ 412
Other fees and services 53 56
Other income (loss) (39) 120
Total non-interest income 363 588
Interest income 332 390
Interest expense (50) (85)
Total net interest income 282 305
Total net revenues 645 893
Non-interest expenses:    
Execution, clearing and distribution fees 71 68
Employee compensation and benefits 111 97
Occupancy, depreciation and amortization 22 20
Communications 8 8
General and administrative 38 59
Customer bad debt 1 2
Total non-interest expenses 251 254
Income before income taxes 394 639
Income tax expense 28 53
Net income 366 586
Less net income attributable to noncontrolling interests 293 479
Net income available for common stockholders $ 73 $ 107
Earnings per share:    
Basic $ 0.74 $ 1.18
Diluted $ 0.74 $ 1.16
Weighted average common shares outstanding:    
Weighted Average Number of Shares Outstanding, Basic 98,226,147 90,789,321
Weighted Average Number of Shares Outstanding, Diluted 99,224,776 91,766,142
Comprehensive income:    
Net income available for common stockholders $ 73 $ 107
Other comprehensive income:    
Cumulative translation adjustment, before income taxes (10) (17)
Income taxes related to items of other comprehensive income
Other comprehensive income (loss), net of tax (10) (17)
Comprehensive income available for common stockholders 63 90
Comprehensive income attributable to noncontrolling interests:    
Net income attributable to noncontrolling interests 293 479
Other comprehensive income - cumulative translation adjustment (31) (59)
Comprehensive income attributable to noncontrolling interests $ 262 $ 420