XML 50 R38.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Revenue from Contracts with Clients (Tables)
 9 Months Ended
Jun. 30, 2024
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Three Months Ended June 30,Nine Months Ended June 30,
(in millions)2024202320242023
Revenues from contracts with clients as a percentage of total revenues2.1 %6.5 %2.5 %6.4 %
The following table represents a disaggregation of the Company’s total revenues separated between revenues from contracts with clients and other sources of revenue for the periods indicated.
Three Months Ended June 30,Nine Months Ended June 30,
(in millions)2024202320242023
Revenues from contracts with clients:
Commission and clearing fees:
Sales-based:
Exchange-traded futures and options$59.4 $57.6 $166.6 $161.6 
OTC derivative brokerage 2.8 2.0 8.6 10.1 
Equities and fixed income 17.8 13.6 48.8 44.6 
Mutual funds 0.8 0.7 2.4 2.2 
Insurance and annuity products 2.4 2.0 8.1 6.5 
Other — 2.0 0.1 4.2 
Total sales-based commission83.2 77.9 234.6 229.2 
Trailing:
Mutual funds3.2 3.1 9.4 9.2 
Insurance and annuity products3.9 3.5 11.3 10.5 
Total trailing commission7.1 6.6 20.7 19.7 
Clearing fees47.2 38.6 135.9 114.6 
Trade conversion fees3.3 1.7 10.8 6.1 
Other 2.2 2.0 6.9 5.9 
Total commission and clearing fees143.0 126.8 408.9 375.5 
Consulting, management, and account fees:
Underwriting fees0.1 0.2 0.2 0.5 
Asset management fees 13.3 11.5 37.0 33.3 
Advisory and consulting fees12.4 8.4 29.6 26.1 
Sweep program fees 10.7 12.3 33.4 36.6
Client account fees 4.6 4.0 13.1 11.5 
Other 4.2 2.8 10.7 11.7 
Total consulting, management, and account fees45.3 39.2 124.0 119.7 
Sales of physical commodities:
Precious metals sales under ASC Topic 606383.5 814.7 1,175.5 2,349.7 
Total revenues from contracts with clients$571.8 $980.7 $1,708.4 $2,844.9 
Method of revenue recognition:
Point-in-time$528.3 $941.9 $1,587.7 $2,729.2 
Time elapsed43.5 38.8 120.7 115.7 
Total revenues from contracts with clients571.8 980.7 1,708.4 2,844.9 
Other sources of revenues
Physical precious metals under ASC Topic 81525,030.2 12,513.4 62,259.7 36,695.5 
Physical agricultural and energy products782.5 991.1 2,903.8 3,183.6 
Principal gains, net305.6 300.0 881.2 810.8 
Interest income 379.6 262.7 995.7 685.7 
Total revenues $27,069.7 $15,047.9 $68,748.8 $44,220.5 
Total revenues by primary geographic region:
United States $1,400.2 $1,428.9 $4,411.4 $4,463.6 
Europe618.9 1,014.8 1,837.5 2,841.8 
South America 118.5 65.9 351.5 184.6 
Middle East and Asia24,923.7 12,534.9 62,124.4 36,721.2 
Other 8.4 3.4 24.0 9.3 
Total revenues $27,069.7 $15,047.9 $68,748.8 $44,220.5 
Operating revenues by primary geographic region:
United States$657.9 $559.6 $1,815.9 $1,588.0 
Europe162.5 145.1 459.2 352.1 
South America43.5 34.3 109.9 97.8 
Middle East and Asia41.4 34.4 107.1 88.9 
Other8.4 3.5 24.0 9.3 
Total operating revenues$913.7 $776.9 $2,516.1 $2,136.1 
Schedule of Income and Expense The following table indicates the relevant income and expense:
Three Months Ended June 30,Nine Months Ended June 30,
(in millions)2024202320242023
Dividend income on long equity positions$77.7 $10.2 $163.7 $27.5 
Dividend expense on short equity positions79.1 11.6 162.6 28.8 
Dividend (loss)/income, net reported within Principal Gains, net$(1.4)$(1.4)$1.1 $(1.3)