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Condensed Financial Information of Parent Company Only Disclosure | 12 Months Ended
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Sep. 30, 2020
Condensed Financial Information Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure | Schedule I StoneX Group Inc. Condensed Balance Sheets Parent Company Only
(in millions) | September 30, 2020 |  | September 30, 2019
ASSETS |  |  |
Cash and cash equivalents | $ | 7.4 |  |  | $ | 2.0 |
Receivable from subsidiaries, net | — |  |  | 17.6 |
Receivable from clients | 0.4 |  |  | 0.5 |
Notes receivable, net | 1.7 |  |  | 2.8 |
Income taxes receivable | 46.2 |  |  | 15.7 |
Investment in subsidiaries(1) | 834.0 |  |  | 399.4 |
Deferred income taxes, net | 4.3 |  | 8.2 |
Property and equipment, net | 42.1 |  | 26.9 |
Operating right of use assets | 69.0 |  |  | — |
Other assets | 20.1 |  |  | 13.0 |
Total assets | $ | 1,025.2 |  |  | $ | 486.1 |
LIABILITIES AND EQUITY |  |  |
Liabilities: |  |  |
Accounts payable and other accrued liabilities | $ | 73.4 |  |  | $ | 29.4 |
Operating lease liabilities | 85.4 |  |  | — |
Payable to clients | 0.3 |  |  | 0.3 |
Payable to subsidiaries, net | 96.5 |  |  | — |
Payable to lenders under loans | 23.0 |  |  | 70.4 |
Senior secured borrowings, net | 515.1 |  |  | 167.6 |
Financial instruments sold, not yet purchased, at fair value | 1.1 |  |  | 84.5 |
Total liabilities | 794.8 |  |  | 352.2 |
Equity: |  |  |
StoneX Group 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; 21,798,551 issued and 19,376,594 outstanding at September 30, 2020 and 21,297,317 issued and 19,075,360 outstanding at September 30, 2019 | 0.2 |  |  | 0.2 |
Common stock in treasury, at cost - 2,421,957 shares at September 30, 2020 and 2,221,957 shares at September 30, 2019 | (57.6) |  |  | (50.1) |
Additional paid-in capital | 292.6 |  |  | 276.8 |
Retained earnings(1) | (4.8) |  |  | (93.0) |
Total StoneX Group Inc. (Parent Company Only) stockholders’ equity | 230.4 |  |  | 133.9 |
Total liabilities and equity | $ | 1,025.2 |  |  | $ | 486.1 |
(1) Within the Condensed Balance Sheets and Condensed Statements of Operations of StoneX Group 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 $577.2 million as of September 30, 2020, respectively, and $495.1 million, as of September 30, 2019, respectively. Schedule I StoneX Group Inc. Condensed Statements of Operations Parent Company Only
| Year Ended September 30,
(in millions) | 2020 |  | 2019 |  | 2018
Revenues: |  |  |  |  |
Management fees from affiliates | $ | 45.1 |  |  | $ | 43.2 |  |  | $ | 40.4 |
Trading losses, net | 0.6 |  |  | — |  |  | — |
Consulting fees | 0.3 |  |  | 0.1 |  |  | — |
Interest income | 2.4 |  |  | 1.5 |  |  | 2.3 |
Dividend income from subsidiaries(2) | 111.8 |  |  | 85.7 |  |  | 41.9 |
Total revenues | 160.2 |  |  | 130.5 |  |  | 84.6 |
Interest expense | 30.0 |  |  | 19.7 |  |  | 15.7 |
Net revenues | 130.2 |  |  | 110.8 |  |  | 68.9 |
Non-interest expenses: |  |  |  |  |
Compensation and benefits | 88.0 |  |  | 79.7 |  |  | 73.0 |
Clearing and related expenses | 0.3 |  |  | 0.9 |  |  | 1.1 |
Trade systems and market information | 3.9 |  |  | 6.4 |  |  | 5.8 |
Occupancy and equipment rental | 3.8 |  |  | 3.4 |  |  | 2.6 |
Professional fees | 12.9 |  |  | 7.3 |  |  | 6.7 |
Travel and business development | 1.7 |  |  | 2.9 |  |  | 2.6 |
Non-trading technology and support | 19.8 |  |  | 12.5 |  |  | 9.1 |
Depreciation and amortization | 6.7 |  |  | 5.2 |  |  | 4.8 |
Communications | 0.7 |  |  | 0.8 |  |  | 0.9 |
Impairment | 2.5 |  |  | — |  |  | — |
Management services fees to affiliates | 2.3 |  |  | 0.5 |  |  | — |
Other | 10.8 |  |  | 5.8 |  |  | 6.9 |
Total non-interest expenses | 153.4 |  |  | 125.4 |  |  | 113.5 |
Gain on acquisitions | 81.9 |  |  | 5.3 |  |  | — |
Income (loss) before tax | 58.7 |  |  | (9.3) |  |  | (44.6) |
Income tax expense | 29.5 |  |  | 24.6 |  |  | 7.4 |
Net income (loss) | $ | 88.2 |  |  | $ | 15.3 |  |  | $ | (37.2) |
(2) W ithin the Condensed Balance Sheets and Condensed Statements of Operations of StoneX Group 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 also include income from investment in subsidiaries of $81.4 million, $69.8 million, and $92.7 million for the years ended September 30, 2020, 2019, and 2018, respectively. Schedule I StoneX Group Inc. Condensed Statements of Cash Flows Parent Company Only
| Year Ended September 30,
(in millions) | 2020 |  | 2019 |  | 2018
Cash flows from operating activities: |  |  |  |  |
Net income (loss) | $ | 88.2 |  |  | $ | 15.3 |  |  | $ | (37.2) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: |  |  |  |  |
Depreciation and amortization | 6.7 |  |  | 5.2 |  |  | 4.8 |
Amortization of operating right of use assets | 4.4 |  |  | — |  |  | — |
Deferred income taxes | — |  |  | 0.6 |  |  | 18.0 |
Amortization and extinguishment of debt issuance costs | 6.1 |  |  | 1.2 |  |  | 0.7 |
Amortization of share-based compensation expense | 9.2 |  |  | 7.1 |  |  | 6.1 |
Impairment | 2.5 |  |  | — |  |  | — |
Gain on acquisition | (81.9) |  |  | (5.4) |  |  | — |
Changes in operating assets and liabilities: |  |  |  |  |
Due to/from subsidiaries | 149.3 |  |  | 8.3 |  |  | (69.4) |
Receivables from clients, net | 0.1 |  |  | (0.5) |  |  | — |
Notes receivable, net | 1.1 |  |  | (1.0) |  |  | 2.9 |
Income taxes receivable | (48.4) |  |  | (0.8) |  |  | (6.6) |
Financial instruments owned, at fair value | — |  |  | 4.4 |  |  | (4.4) |
Other assets | (7.7) |  |  | (4.4) |  |  | (0.7) |
Accounts payable and other accrued liabilities | 24.0 |  |  | 4.6 |  |  | 8.6 |
Operating lease liabilities | (2.8) |  |  | — |  |  | — |
Payable to clients | — |  |  | (1.4) |  |  | (0.3) |
Financial instruments sold, not yet purchased, at fair value | (83.4) |  |  | 25.2 |  |  | 34.0 |
Net cash provided by (used in) operating activities | 67.4 |  |  | 58.4 |  |  | (43.5) |
Cash flows from investing activities: |  |  |  |  |
Capital contribution in affiliates | (251.9) |  |  | (75.8) |  |  | (4.5) |
Purchase of property and equipment | (10.2) |  |  | (6.2) |  |  | (5.9) |
Net cash used in investing activities | (262.1) |  |  | (82.0) |  |  | (10.4) |
Cash flows from financing activities: |  |  |  |  |
Proceeds from revolving credit facility |  |  |  |  |
Net change in lenders under loans | (47.0) |  |  | (138.2) |  |  | 58.2 |
Payments of notes payable | (0.4) |  |  | (0.8) |  |  | (0.8) |
Proceeds from issuance of senior secured term loan | 21.5 |  |  | 175.0 |  |  | — |
Repayments of senior secured term loan | (9.8) |  |  | (6.6) |  |  | — |
Proceeds from issuance of senior secured notes | 344.8 |  |  | — |  |  | — |
Repayments of senior secured notes | (92.1) |  |  | — |  |  | — |
Deferred payments on acquisitions | (0.9) |  |  | — |  |  | (5.5) |
Share repurchase | (7.5) |  |  | (3.8) |  |  | — |
Debt issuance costs | (14.0) |  |  | (3.0) |  |  | — |
Exercise of stock options | 5.5 |  |  | 1.2 |  |  | 2.6 |
Withholding taxes on stock option exercises | — |  |  | — |  |  | (0.8) |
Net cash provided by financing activities | 200.1 |  |  | 23.8 |  |  | 53.7 |
Net increase (decrease) in cash and cash equivalents | 5.4 |  |  | 0.2 |  |  | (0.2) |
Cash and cash equivalents at beginning of period | 2.0 |  |  | 1.8 |  |  | 2.0 |
Cash and cash equivalents at end of period | $ | 7.4 |  |  | $ | 2.0 |  |  | $ | 1.8 |
Supplemental disclosure of cash flow information: |  |  |  |  |
Cash paid for interest | $ | 15.3 |  |  | $ | 18.9 |  |  | $ | 15.0 |
Income taxes (received) paid, net of cash refunds | $ | (4.3) |  |  | $ | (23.9) |  |  | $ | (18.4) |
Supplemental disclosure of non-cash investing and financing activities: |  |  |  |  |
Additional consideration payable related to acquisitions | $ | 21.6 |  |  | $ | 1.8 |  |  | $ | — |

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- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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