XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Commissions $ 379 $ 357
Other fees and services 59 43
Other income 18 19
Total non-interest income 456 419
Interest income 1,760 1,347
Interest expense (1,013) (710)
Total net interest income 747 637
Total net revenues 1,203 1,056
Non-interest expenses:    
Execution, clearing and distribution fees 101 95
Employee compensation and benefits 145 128
Occupancy, depreciation and amortization 26 24
Communications 10 9
General and administrative 50 36
Customer bad debt 5 3
Total non-interest expenses 337 295
Income before income taxes 866 761
Income tax expense 71 61
Net income 795 700
Less net income attributable to noncontrolling interests 620 552
Net income available for common stockholders $ 175 $ 148
Earnings per share:    
Basic $ 1.63 $ 1.44
Diluted $ 1.61 $ 1.42
Weighted average common shares outstanding:    
Weighted Average Number of Shares Outstanding, Basic 107,070,830 102,958,660
Weighted Average Number of Shares Outstanding, Diluted 108,149,440 104,042,571
Comprehensive income:    
Net income available for common stockholders $ 175 $ 148
Other comprehensive income:    
Cumulative translation adjustment, before income taxes (26) 5
Income taxes related to items of other comprehensive income
Other comprehensive income (loss), net of tax (26) 5
Comprehensive income available for common stockholders 149 153
Comprehensive income attributable to noncontrolling interests:    
Net income attributable to noncontrolling interests 620 552
Other comprehensive income - cumulative translation adjustment (76) 14
Comprehensive income attributable to noncontrolling interests $ 544 $ 566