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.

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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 Company Only)

NOTES TO CONDENSED 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.