XML 44 R27.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Schedule I - Condensed Financial Information of Registrant (Parent Company Only) | 12 Months Ended
--- | ---
Dec. 31, 2023
Schedule I - Condensed Financial Information of Registrant (Parent Company Only) [Abstract] |
Schedule I - Condensed Financial Information of Registrant (Parent Company Only) |
INTERACTIVE BROKERS GROUP, INC.
(Parent Company Only)
CONDENSED STATEMENTS OF FINANCIAL CONDITION
|  | December 31,
(in millions, except share amounts) |  | 2023 |  | 2022
Assets |  |  |  |  |  |
Cash and cash equivalents |  | $ | 6 |  | $ | 1
Investments in subsidiaries, equity basis |  |  | 3,571 |  |  | 2,845
Other assets |  |  | 230 |  |  | 231
Total assets |  | $ | 3,807 |  | $ | 3,077
Liabilities and Equity |  |  |  |  |  |
Liabilities: |  |  |  |  |  |
Payable to affiliates |  | $ | 209 |  | $ | 214
Accrued expenses and other liabilities |  |  | 14 |  |  | 15
|  |  | 223 |  |  | 229
Stockholders' equity: |  |  |  |  |  |
Common stock, $0.01 par value per share: |  |  |  |  |  |
Class A – Authorized - 1,000,000,000, Issued - 107,178,928 and 103,057,148 shares, Outstanding – 107,045,994 and 102,887,728 shares as of December 31, 2023 and 2022 |  |  | 1 |  |  | 1
Class B – Authorized, Issued and Outstanding – 100 shares as of December 31, 2023 and 2022 |  |  | — |  |  | —
Additional paid-in capital |  |  | 1,726 |  |  | 1,581
Retained earnings |  |  | 1,852 |  |  | 1,294
Accumulated other comprehensive income, net of income taxes of $0 and $0 as of December 31, 2023 and 2022 |  |  | 8 |  |  | (22)
Treasury stock, at cost, 133,034 and 169,420 shares as of December 31, 2023 and 2022 |  |  | (3) |  |  | (6)
Total equity |  |  | 3,584 |  |  | 2,848
Total liabilities and equity |  | $ | 3,807 |  | $ | 3,077
See accompanying notes to the condensed financial statements. ‎
INTERACTIVE BROKERS GROUP, INC.
(Parent Company Only)
CONDENSED STATEMENTS OF COMPREHENSIVE INCOME
|  | Year-Ended December 31,
(in millions) |  | 2023 |  | 2022 |  | 2021
Income (loss) before income from subsidiaries |  | $ | 5 |  | $ | 4 |  | $ | —
Undistributed gains of subsidiaries, net |  |  | 737 |  |  | 463 |  |  | 383
Income tax expense |  |  | 142 |  |  | 87 |  |  | 75
Net income |  | $ | 600 |  | $ | 380 |  | $ | 308
Net income available for common stockholders |  | $ | 600 |  | $ | 380 |  | $ | 308
Cumulative translation adjustment, net of tax |  |  | 30 |  |  | (26) |  |  | (22)
Comprehensive income available for common stockholders |  | $ | 630 |  | $ | 354 |  | $ | 286
See accompanying notes to the condensed financial statements. ‎
INTERACTIVE BROKERS GROUP, INC.
(Parent Company Only)
CONDENSED STATEMENTS OF CASH FLOWS
|  | Year-Ended December 31,
(in millions) |  | 2023 |  | 2022 |  | 2021
Cash flows from operating activities |  |  |  |  |  |  |  |  |
Net income |  | $ | 600 |  | $ | 380 |  | $ | 308
Adjustments to reconcile net income to net cash used in operating activities |  |  |  |  |  |  |  |  |
Undistributed gains of subsidiaries, net |  |  | (737) |  |  | (463) |  |  | (383)
Deferred income taxes |  |  | 34 |  |  | 28 |  |  | 18
(Gain) loss on remeasurement of Tax Receivable Agreement liability |  |  | (7) |  |  | (6) |  |  | (1)
Changes in operating assets and liabilities |  |  | (33) |  |  | 20 |  |  | 21
Net cash used in operating activities |  |  | (143) |  |  | (41) |  |  | (37)
Cash flows provided by investing activities |  |  | 185 |  |  | 127 |  |  | 111
Cash flows used in financing activities |  |  | (67) |  |  | (59) |  |  | (56)
Effect of exchange rate changes on cash and cash equivalents |  |  | 30 |  |  | (26) |  |  | (22)
Net increase in cash and cash equivalents |  |  | 5 |  |  | 1 |  |  | (4)
Cash and cash equivalents at beginning of period |  |  | 1 |  |  | — |  |  | 4
Cash and cash equivalents at end of period |  | $ | 6 |  | $ | 1 |  | $ | —
Supplemental disclosures of cash flow information |  |  |  |  |  |  |  |  |
Cash paid for interest |  | $ | 2 |  | $ | 1 |  | $ | 1
Cash paid for taxes, net |  | $ | 111 |  | $ | 67 |  | $ | 57
Non-cash investing activities: |  |  |  |  |  |  |  |  |
Non-cash distributions from subsidiaries |  | $ | — |  | $ | 1 |  | $ | 1
See accompanying notes to the condensed financial statements. ‎ INTERACTIVE BROKERS GROUP, INC. (Parent Co mpany Only) NOTES TO CONDEN SED FINANCIAL STATEMENTS 1. Basis of Presentation The accompanying condensed financial statements (the “Parent Company Financial Statements”) of Interactive Brokers Group, Inc. (“IBG, Inc.”), a Delaware holding company, including the notes thereto, should be read in conjunction with the consolidated financial statements of IBG, Inc. and its subsidiaries (the “Company”) and the notes thereto. IBG, Inc.’s primary asset is its ownership interest in IBG LLC, an automated global electronic broker specializing in executing and clearing trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, exchange-traded funds (“ETFs”) and precious metals on more than 150 electronic exchanges and market centers around the world and offering custody, prime brokerage, securities and margin lending services to customers. The preparation of the Parent Company Financial Statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts and disclosures in the condensed financial statements and accompanying notes. Income Taxes Refer to Note 2 to the consolidated financial statements. 2. Related Party Transactions As of December 31, 2023 and 2022, receivables from affiliates were immaterial. Dividends received from IBG LLC for the three years ended December 31, 2023, 2022, and 2021, were $185 million, $128 million and $112 million, respectively. As of December 31, 2023 and 2022, respectively, payable to affiliates of $210 million and $214 million consisted primarily of amounts payable to Holdings under the Tax Receivable Agreement. 3. Stockholders’ Equity Refer to Note 4 to the consolidated financial statements. 4. Employee Incentive Plans Refer to Note 10 to the consolidated financial statements. 5. Commitments, Contingencies and Guarantees Refer to Note 14 to the consolidated financial statements. 6. Subsequent Events As required by FASB ASC Topic, “Subsequent Events,” IBG, Inc. has evaluated subsequent events for adjustment to or disclosure in its condensed financial statements through the date the condensed financial statements were issued. Except as disclosed in Note 4 and Note 14 to the consolidated financial statements, no other recordable or disclosable events occurred.

X
- References No definition available. + Details
Name: | srt_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration