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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Dec. 31, 2024
Sep. 30, 2024
ASSETS    
Cash and cash equivalents $ 1,398.2 $ 1,269.0
Cash, securities and other assets segregated under federal and other regulations (including $309.0 million and $51.8 million at fair value at December 31, 2024 and September 30, 2024, respectively) 3,156.6 2,841.2
Collateralized transactions:    
Securities purchased under agreements to resell 5,479.2 5,201.5
Securities borrowed 2,120.7 1,662.3
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net (including $4,781.3 million and $3,287.5 million at fair value at December 31, 2024 and September 30, 2024, respectively) 7,783.9 7,283.2
Receivable from clients, net (including $(2.8) million and $(8.4) million at fair value at December 31, 2024 and September 30, 2024, respectively) 1,096.3 1,013.1
Income taxes receivable 20.9 19.3
Financial instruments owned, at fair value (includes securities pledged as collateral that can be sold or repledged of $1,500.0 million and $2,172.0 million at December 31, 2024 and September 30, 2024, respectively) 6,918.1 6,767.1
Physical commodities inventory, net (including $476.7 million and $376.6 million at fair value at December 31, 2024 and September 30, 2024, respectively) 861.4 681.1
Deferred tax asset 53.6 46.3
Property and equipment, net 145.1 143.1
Operating right of use assets 159.7 157.0
Goodwill and intangible assets, net 87.0 80.6
Other assets 304.6 301.5
Total assets 29,585.3 27,466.3
Liabilities:    
Accounts payable and other accrued liabilities (including $2.9 million and $2.3 million at fair value at December 31, 2024 and September 30, 2024, respectively) 441.8 522.1
Operating lease liabilities 198.6 195.9
Payables to:    
Clients (including $371.1 million and $265.9 million at fair value at December 31, 2024 and September 30, 2024, respectively) 11,338.2 10,345.9
Broker-dealers, clearing organizations and counterparties (including $37.5 million and $(1.4) million at fair value at December 31, 2024 and September 30, 2024, respectively) 445.5 734.2
Lenders under loans 550.0 338.8
Senior secured borrowings, net 543.3 543.1
Income taxes payable 33.7 18.1
Deferred tax liability 15.8 8.6
Collateralized transactions:    
Securities sold under agreements to repurchase 8,872.9 8,581.3
Securities loaned 1,826.5 1,615.9
Financial instruments sold, not yet purchased, at fair value 3,541.6 2,853.3
Total liabilities 27,807.9 25,757.2
Commitments and contingencies (Note 11)
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; 35,945,614 issued and 32,034,629 outstanding at December 31, 2024 and 35,785,432 issued and 31,874,447 outstanding at September 30, 2024 0.4 0.4
Common stock in treasury, at cost. 3,910,985 shares at December 31, 2024 and September 30, 2024 (69.3) (69.3)
Additional paid-in-capital 422.7 414.3
Retained earnings 1,474.0 1,388.9
Accumulated other comprehensive loss, net (50.4) (25.2)
Total equity 1,777.4 1,709.1
Total liabilities and stockholders' equity $ 29,585.3 $ 27,466.3