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Non-Controlling Interests

6 Months Ended

Jun. 30, 2024

Noncontrolling Interest [Abstract]

Non-Controlling Interests

Non-Controlling Interests

In connection with the Reorganization Transactions, Tradeweb Markets Inc. became the sole manager of TWM LLC and, as a result of this control, and because Tradeweb Markets Inc. has a substantial financial interest in TWM LLC, consolidates the financial results of TWM LLC into its condensed consolidated financial statements. The non-controlling interests balance reported on the condensed consolidated statements of financial condition represents the economic interests of TWM LLC held by the holders of LLC Interests other than Tradeweb Markets Inc. Income or loss is attributed to the non-controlling interests based on the relative ownership percentages of LLC Interests held during the period by Tradeweb Markets Inc. and the other holders of LLC Interests.

The following table summarizes the ownership interest in Tradeweb Markets LLC:

						June 30, 2024												June 30, 2023
						LLC Interests						Ownership %						LLC Interests						Ownership %
Number of LLC Interests held by Tradeweb Markets Inc.						213,215,797						90.2		%				211,601,209						90.2		%
Number of LLC Interests held by non-controlling interests						23,076,973						9.8		%				23,080,571						9.8		%
Total LLC Interests outstanding						236,292,770						100.0		%				234,681,780						100.0		%

LLC Interests held by Continuing LLC Owners are redeemable in accordance with the TWM LLC Agreement at the election of the members for shares of Class A common stock or Class B common stock, as applicable, on a one-for-one basis or, at the Company’s option, a cash payment in accordance with the terms of the TWM LLC Agreement.

The following table summarizes the impact on Tradeweb Market Inc.’s equity due to changes in the Corporation’s ownership interest in TWM LLC:

Net Income Attributable to Tradeweb Markets Inc. and Transfers (to) from the Non-Controlling Interests						Three Months Ended												Six Months Ended
						June 30,												June 30,
						2024						2023						2024						2023
						(dollars in thousands)
Net income attributable to Tradeweb Markets Inc.						$	119,239					$	89,082					$	245,381					$	176,938
Transfers (to) from non-controlling interests:
Increase/(decrease) in Tradeweb Markets Inc.’s additional paid-in capital as a result of ownership changes in TWM LLC						(2,198)						72,870						(865)						79,780
Net transfers (to) from non-controlling interests						(2,198)						72,870						(865)						79,780
Change from net income attributable to Tradeweb Markets Inc. and transfers (to) from non-controlling interests						$	117,041					$	161,952					$	244,516					$	256,718

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- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 810
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/810/tableOfContent

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- References

No definition available.

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