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Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Sep. 30, 2024
ASSETS    
Cash and cash equivalents $ 1,605.8 $ 1,269.0
Cash, securities and other assets segregated under federal and other regulations (including $950.0 million and $51.8 million at fair value at September 30, 2025 and 2024, respectively) 5,271.0 2,841.2
Collateralized transactions:    
Securities purchased under agreements to resell 10,325.4 5,201.5
Securities borrowed 2,743.1 1,662.3
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net (including $6,442.9 million and $3,287.5 million at fair value at September 30, 2025 and 2024, respectively) 12,890.7 7,283.2
Receivable from clients, net (including $58.1 million and $(8.4) million at fair value at September 30, 2025 and 2024, respectively) 1,333.9 1,013.1
Income taxes receivable 45.7 19.3
Financial instruments owned, at fair value (includes securities pledged as collateral that can be sold or repledged of $1,165.8 million and $2,172.0 million at September 30, 2025 and 2024, respectively) 8,604.4 6,767.1
Physical commodities inventory, net (including $471.1 million and $376.6 million at fair value at September 30, 2025 and 2024, respectively) 917.5 681.1
Deferred tax assets 32.0 46.3
Property and equipment, net 166.6 143.1
Operating right of use assets 161.9 157.0
Goodwill and intangible assets, net 736.2 80.6
Other assets 433.8 301.5
Total assets 45,268.0 27,466.3
Liabilities:    
Accounts payable and other accrued liabilities (including $32.3 million and $2.3 million at fair value at September 30, 2025 and 2024, respectively) 769.1 522.1
Operating lease liabilities 211.7 195.9
Payables to:    
Clients (including $530.7 million and $265.9 million at fair value at September 30, 2025 and 2024, respectively) 19,864.1 10,345.9
Broker-dealers, clearing organizations and counterparties (including $38.4 million and $(1.4) million at fair value at September 30, 2025 and 2024, respectively) 963.4 734.2
Lenders under loans 782.0 338.8
Senior secured borrowings, net 1,159.0 543.1
Income taxes payable 22.8 18.1
Deferred tax liabilities 96.9 8.6
Collateralized transactions:    
Securities sold under agreements to repurchase 13,551.0 8,581.3
Securities loaned 2,550.8 1,615.9
Financial instruments sold, not yet purchased, at fair value 2,919.8 2,853.3
Total liabilities 42,890.6 25,757.2
Commitments and contingencies (Note 13)
Stockholders' equity:    
Preferred stock, $0.01 par value. Authorized 1,000,000 shares; no shares issued or outstanding 0.0 0.0
Common stock, $0.01 par value. Authorized 200,000,000 shares; 54,967,558 issued and 52,186,635 outstanding at September 30, 2025 and 53,678,016 issued and 47,811,539 outstanding at September 30, 2024 0.5 0.5
Common stock in treasury, at cost. 2,780,923 shares at September 30, 2025 and 5,866,477 shares at September 30, 2024 (32.8) (69.3)
Additional paid-in-capital 730.9 414.2
Retained earnings 1,694.8 1,388.9
Accumulated other comprehensive loss, net (16.0) (25.2)
Total equity 2,377.4 1,709.1
Total liabilities and stockholders' equity $ 45,268.0 $ 27,466.3