Quarterly Financial Information (Unaudited)

The Company has set forth certain quarterly unaudited financial data for the past two years in the tables below:



	For the 2017 Fiscal Quarter Ended
(in millions, except per share amounts)	September 30⁽¹⁾			June 30		March 31		December 31
Total revenues	$	12,382.5		$	5,505.9	$	5,460.8	$	6,074.4
Cost of sales of physical commodities	12,177.4			5,308.3		5,265.0		5,888.9
Operating revenues	205.1			197.6		195.8		185.5
Transaction-based clearing expenses	35.1			33.9		33.7		33.6
Introducing broker commissions	26.9			29.2		28.2		28.7
Interest expense	12.0			11.2		10.0		8.9
Net operating revenues	131.1			123.3		123.9		114.3
Compensation and benefits	73.0			75.5		76.6		70.6
Bad debts	0.4			0.1		1.3		2.5
Bad debt on physical coal	47.0			—		—		—
Other expenses	33.2			32.7		31.7		32.8
Total compensation and other expenses	153.6			108.3		109.6		105.9
(Loss) income from operations, before tax	(22.5		)	15.0		14.3		8.4
Income tax expense	1.1			2.3		3.3		2.1
Net (loss) income	$	(23.6	)	$	12.7	$	11.0	$	6.3
Net basic (loss) earnings per share	$	(1.27	)	$	0.67	$	0.58	$	0.34
Net diluted (loss) earnings per share	$	(1.27	)	$	0.66	$	0.58	$	0.34

⁽¹⁾ During the fourth quarter of fiscal 2017, the Company recorded a charge to earnings of $47.0 million, to record an allowance for doubtful accounts related to a bad debt incurred in the physical coal business conducted solely in INTL Asia Pte. Ltd., with a coal supplier, as further discussed in Note 2.



	For the 2016 Fiscal Quarter Ended
(in millions, except per share amounts)	September 30			June 30		March 31		December 31
Total revenues	$	2,777.6		$	4,868.5	$	3,708.9	$	3,399.9
Cost of sales of physical commodities	2,599.0			4,693.5		3,542.8		3,248.6
Operating revenues	178.6			175.0		166.1		151.3
Transaction-based clearing expenses	32.0			35.2		32.9		29.8
Introducing broker commissions	28.1			14.8		13.2		12.8
Interest expense	7.5			7.7		7.1		6.0
Net operating revenues	111.0			117.3		112.9		102.7
Compensation and benefits	66.2			69.4		65.2		63.1
Bad debts	(0.2		)	—		2.6		2.0
Other expenses	32.0			26.5		25.1		25.5
Total compensation and other expenses	98.0			95.9		92.9		90.6
Gain on acquisition	6.2			—		—		—
Income from operations, before tax	19.2			21.4		20.0		12.1
Income tax expense	2.4			6.8		5.5		3.3
Net income	$	16.8		$	14.6	$	14.5	$	8.8
Net basic earnings per share	$	0.91		$	0.79	$	0.77	$	0.47
Net diluted earnings per share	$	0.90		$	0.78	$	0.76	$	0.46