XML 59 R30.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Condensed Parent Only Financial Statements (Notes) | 12 Months Ended
--- | ---
Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | Schedule I INTL FCStone Inc. Condensed Balance Sheets Parent Company Only
(in millions) | September 30, 2015 |  | September 30, 2014
ASSETS |  |  |
Cash and cash equivalents | $ | 2.5 |  |  | $ | 3.0 |
Receivable from subsidiaries, net | 0.4 |  |  | — |
Notes receivable, net | 46.4 |  |  | 40.0 |
Income taxes receivable | 24.3 |  |  | 12.9 |
Investment in subsidiaries(1) | 286.0 |  |  | 237.7 |
Financial instruments owned, at fair value | 3.0 |  |  | — |
Deferred income taxes, net | 12.0 |  |  | 16.6 |
Property and equipment, net | 9.2 |  |  | 3.6 |
Goodwill and intangible assets, net | — |  |  | — |
Other assets | 13.1 |  |  | 4.9 |
Total assets | $ | 396.9 |  |  | $ | 318.7 |
LIABILITIES AND EQUITY |  |  |
Liabilities: |  |  |
Accounts payable and other accrued liabilities | $ | 29.3 |  |  | $ | 8.8 |
Payable to customers | 30.7 |  |  | 25.8 |
Payable to lenders under loans | 31.6 |  |  | 15.0 |
Payable to subsidiaries, net | 123.7 |  |  | 61.7 |
Senior unsecured notes | 45.5 |  |  | 45.5 |
Financial instruments sold, not yet purchased, at fair value | — |  |  | — |
Total liabilities | 260.8 |  |  | 156.8 |
Equity: |  |  |
INTL FCStone Inc. (Parent Company Only) stockholders’ equity: |  |  |
Preferred stock, $0.01 par value. Authorized 1,000,000 shares; no shares issued or outstanding | — |  |  | — |
Common stock, $0.01 par value. Authorized 30,000,000 shares; 20,184,556 issued and 18,812,803 outstanding at September 30, 2015 and 19,826,635 issued and 18,883,662 outstanding at September 30, 2014 | 0.2 |  |  | 0.2 |
Common stock in treasury, at cost - 1,371,753 shares at September 30, 2015 and 942,973 shares at September 30, 2014 | (26.8 | ) |  | (17.5 | )
Additional paid-in capital | 240.8 |  |  | 229.6 |
Retained earnings(1) | (78.1 | ) |  | (50.4 | )
Total INTL FCStone Inc. (Parent Company Only) stockholders’ equity | 136.1 |  |  | 161.9 |
Total liabilities and equity | $ | 396.9 |  |  | $ | 318.7 |
(1) Within the Condensed Balance Sheets and Condensed Statements of Operations of INTL FCStone Inc. - Parent Company Only, the Company has accounted for its investment in wholly owned subsidiaries using the cost method of accounting. Under this method, the Company’s share of the earnings or losses of such subsidiaries are not included in the Condensed Balance Sheet or Condensed Statements of Operations. If the accounting for its investment in wholly owned subsidiaries were presented under the equity method of accounting, investment in subsidiaries and retained earnings would each increase by $278.5 million as of September 30, 2015, respectively, and $195.1 million, as of September 30, 2014, respectively. Schedule I INTL FCStone Inc. Condensed Statements of Operations Parent Company Only
| Year Ended September 30,
(in millions) | 2015 |  | 2014 |  | 2013
Revenues: |  |  |  |  |
Management fees from affiliates | $ | 26.6 |  |  | $ | 9.5 |  |  | $ | 9.2 |
Trading gains, net | 3.2 |  |  | — |  |  | — |
Consulting fees | 2.1 |  |  | 1.6 |  |  | 1.6 |
Interest income | 4.6 |  |  | 4.3 |  |  | 3.6 |
Dividend income from subsidiaries(2) | 6.0 |  |  | — |  |  | — |
| 42.5 |  |  | 15.4 |  |  | 14.4 |
Interest expense | 12.7 |  |  | 10.6 |  |  | 7.1 |
Net revenues | 29.8 |  |  | 4.8 |  |  | 7.3 |
Non-interest expenses: |  |  |  |  |
Compensation and benefits | 43.5 |  |  | 29.8 |  |  | 30.5 |
Clearing and related expenses | 1.2 |  |  | 0.3 |  |  | 0.5 |
Introducing broker commissions | 0.5 |  |  | 0.3 |  |  | 0.5 |
Communication and data services | 5.7 |  |  | 1.3 |  |  | 0.9 |
Occupancy and equipment rental | 2.1 |  |  | 2.0 |  |  | 1.4 |
Professional fees | 4.6 |  |  | 5.0 |  |  | 2.3 |
Travel and business development | 1.4 |  |  | 1.1 |  |  | 1.2 |
Depreciation and amortization | 1.8 |  |  | 1.8 |  |  | 1.5 |
Bad debts and impairments | 1.6 |  |  | 0.1 |  |  | — |
Management services fees to affiliates | 4.3 |  |  | 2.9 |  |  | 2.7 |
Other | 10.2 |  |  | 3.5 |  |  | 3.6 |
Total non-interest expenses | 76.9 |  |  | 48.1 |  |  | 45.1 |
Loss from continuing operations, before tax | (47.1 | ) |  | (43.3 | ) |  | (37.8 | )
Income tax benefit | 19.4 |  |  | 17.1 |  |  | 13.2 |
Net loss | $ | (27.7 | ) |  | $ | (26.2 | ) |  | $ | (24.6 | )
(2) W ithin the Condensed Balance Sheets and Condensed Statements of Operations of INTL FCStone Inc. - Parent Company Only, the Company has accounted for its investment in wholly owned subsidiaries using the cost method of accounting. Under this method, the Company’s share of the earnings or losses of such subsidiaries are not included in the Condensed Balance Sheet or Condensed Statements of Operations. If the accounting for its investment in wholly owned subsidiaries were presented under the equity method of accounting, revenues would include income from investment in subsidiaries of $83.4 million, $45.5 million, and $43.9 million, for the years ended September 30, 2015, 2014, and 2013, respectively. Certain amounts previously reported have been reclassified to conform to the current period presentation. Schedule I INTL FCStone Inc. Condensed Statements of Cash Flows Parent Company Only
| Year Ended September 30,
(in millions) | 2015 |  | 2014 |  | 2013
Cash flows from operating activities: |  |  |  |  |
Net loss | $ | (27.7 | ) |  | $ | (26.2 | ) |  | $ | (24.6 | )
Adjustments to reconcile net loss to net cash (used in) provided by operating activities: |  |  |  |  |
Depreciation and amortization | 1.8 |  |  | 1.8 |  |  | 1.5 |
Provision for impairments | 1.6 |  |  | 0.1 |  |  | — |
Deferred income taxes | 4.6 |  |  | (9.6 | ) |  | (6.1 | )
Amortization of debt issuance costs and debt discount | 0.8 |  |  | 0.8 |  |  | 0.5 |
Amortization of share-based compensation expense | 3.6 |  |  | 4.3 |  |  | 9.3 |
Changes in operating assets and liabilities: |  |  |  |  |
Due to/from subsidiaries | 33.2 |  |  | 84.6 |  |  | (2.8 | )
Notes receivable, net | (7.8 | ) |  | (12.8 | ) |  | (17.1 | )
Income taxes receivable | (11.4 | ) |  | 4.6 |  |  | (3.2 | )
Financial instruments owned, at fair value | (3.0 | ) |  | — |  |  | 1.5 |
Other assets | (3.9 | ) |  | (1.1 | ) |  | 1.7 |
Accounts payable and other accrued liabilities | 12.6 |  |  | (1.1 | ) |  | 1.4 |
Payable to customers | 4.9 |  |  | 7.1 |  |  | 18.0 |
Financial instruments sold, not yet purchased, at fair value | — |  |  | (0.6 | ) |  | (24.7 | )
Net cash (used in) provided by operating activities | 9.3 |  |  | 51.9 |  |  | (44.6 | )
Cash flows from investing activities: |  |  |  |  |
Capital contribution in affiliates | (22.4 | ) |  | (0.5 | ) |  | (11.5 | )
Capital withdrawals from affiliates | 7.8 |  |  | — |  |  | — |
Purchase of property and equipment | (7.8 | ) |  | (1.8 | ) |  | (0.8 | )
Net cash used in investing activities | (22.4 | ) |  | (2.3 | ) |  | (12.3 | )
Cash flows from financing activities: |  |  |  |  |
Payable to lenders under loans | 13.0 |  |  | (40.0 | ) |  | 7.0 |
Proceeds from note payable | 4.0 |  |  | — |  |  | — |
Payments of notes payable | (0.4 | ) |  | — |  |  | — |
Proceeds from issuance of senior unsecured notes | — |  |  | — |  |  | 45.5 |
Payments related to earn-outs on acquisitions | (2.2 | ) |  | (1.1 | ) |  | — |
Share repurchase | (4.7 | ) |  | (9.7 | ) |  | (4.0 | )
Debt issuance costs | (0.1 | ) |  | (0.2 | ) |  | (3.2 | )
Exercise of stock options | 2.5 |  |  | 1.4 |  |  | 1.5 |
Income tax benefit on stock options and awards | 0.5 |  |  | (0.1 | ) |  | 0.1 |
Net cash provided by (used in) financing activities | 12.6 |  |  | (49.7 | ) |  | 46.9 |
Net (decrease) increase in cash and cash equivalents | (0.5 | ) |  | (0.1 | ) |  | (10.0 | )
Cash and cash equivalents at beginning of period | 3.0 |  |  | 3.1 |  |  | 13.1 |
Cash and cash equivalents at end of period | $ | 2.5 |  |  | $ | 3.0 |  |  | $ | 3.1 |
Supplemental disclosure of cash flow information: |  |  |  |  |
Cash paid for interest | $ | 11.9 |  |  | $ | 6.9 |  |  | $ | 3.0 |
Income taxes (received) paid, net of cash refunds | $ | (12.9 | ) |  | $ | (5.3 | ) |  | $ | (1.6 | )
Supplemental disclosure of non-cash investing and financing activities: |  |  |  |  |
Additional consideration payable related to acquisitions | $ | 1.9 |  |  | $ | (3.0 | ) |  | $ | 5.6 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51664549&loc=d3e5283-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration