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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2024
Income Taxes [Abstract] |
Schedule Of The Provision For Income Taxes |
|  | Year-Ended December 31, |
|  | 2024 |  | 2023 |  | 2022 |
|  | (in millions) |
Current |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 133 |  | $ | 104 |  | $ | 59 |
State and local |  |  | 22 |  |  | 14 |  |  | 8 |
Foreign |  |  | 135 |  |  | 109 |  |  | 69 |
Total current |  |  | 290 |  |  | 227 |  |  | 136 |
Deferred |  |  |  |  |  |  |  |  |  |
Federal |  |  | 8 |  |  | 27 |  |  | 21 |
State and local |  |  | (9) |  |  | 4 |  |  | 4 |
Foreign |  |  | (1) |  |  | (1) |  |  | (5) |
Total deferred |  |  | (2) |  |  | 30 |  |  | 20 |
|  | $ | 288 |  | $ | 257 |  | $ | 156 |
Reconciliation Of The Statutory U.S. Federal Income Tax Rate Of 35% To The Company’s Effective Tax Rate |
|  | Year-Ended December 31,
|  | 2024 |  | 2023 |  | 2022
U.S. Statutory Tax Rate |  |  | 21.0% |  |  | 21.0% |  |  | 21.0%
State, local and foreign taxes, net of federal benefit |  |  | 1.8% |  |  | 2.5% |  |  | 2.1%
Subtotal |  |  | 22.8% |  |  | 23.5% |  |  | 23.1%
Less: rate attributable to noncontrolling interests |  |  | (15.0%) |  |  | (15.1%) |  |  | (15.3%)
Total |  |  | 7.8% |  |  | 8.4% |  |  | 7.8%
Significant Components Of The Company’s Deferred Tax Assets (Liabilities) |
|  | December 31,
|  | 2024 |  | 2023 |  | 2022
|  | (in millions)
Deferred tax assets |  |  |  |  |  |  |  |  |
Arising from the acquisition of interests in IBG LLC |  | $ | 196 |  | $ | 197 |  | $ | 193
Deferred compensation |  |  | 19 |  |  | 17 |  |  | 14
Other |  |  | 35 |  |  | 31 |  |  | 34
Total deferred tax assets |  |  | 250 |  |  | 245 |  |  | 241
Deferred tax liabilities |  |  |  |  |  |  |  |  |
Foreign |  |  | 3 |  |  | 4 |  |  | 2
Other |  |  | 10 |  |  | 10 |  |  | 7
Total deferred tax liabilities |  |  | 13 |  |  | 14 |  |  | 9
Net deferred tax assets |  | $ | 237 |  | $ | 231 |  | $ | 232

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
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