XML 48 R31.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Financial Information of Parent Company Only Disclosure
 12 Months Ended
Sep. 30, 2023
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, 2023September 30,
2022
ASSETS
Cash and cash equivalents$2.1 $6.1 
Receivable from clients, net— 0.2 
Deposits with and receivables from subsidiary broker-dealer, net77.0 89.1 
Notes receivable, net5.0 5.0 
Income taxes receivable132.1 55.5 
Investment in subsidiaries(1)
1,325.3 1,286.8 
Financial instruments owned, at fair value7.65.1 
Deferred tax assets7.214.7 
Property and equipment, net66.362.1 
Operating right of use assets65.5 69.0 
Other assets35.6 30.8 
Total assets$1,723.7 $1,624.4 
LIABILITIES AND EQUITY
Liabilities:
Accounts payable and other accrued liabilities$135.7 $90.7 
Operating lease liabilities91.1 93.3 
Payable to subsidiaries, net288.3 293.3 
Payable to lenders under loans157.5 268.1 
Senior secured borrowings, net342.1 339.1 
Financial instruments sold, not yet purchased, at fair value27.0 73.6 
Total liabilities1,041.7 1,158.1 
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 200,000,000 shares; 23,403,960 issued and 20,796,637 outstanding at September 30, 2023 and 22,911,227 issued and 20,303,904 outstanding at September 30, 2022
0.2 0.2 
Common stock in treasury, at cost - 2,607,323 shares at September 30, 2023 and 2022
(69.3)(69.3)
Additional paid-in capital371.9 340.2 
Retained earnings(1)
397.9 248.8 
Accumulated other comprehensive loss, net(18.7)(53.6)
Total StoneX Group Inc. (Parent Company Only) stockholders’ equity682.0 466.3 
Total liabilities and equity$1,723.7 $1,624.4 

(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 is not included in the Condensed Balance Sheet or Condensed Statements of Operations. If the accounting for its investment in wholly owned subsidiaries was presented under the equity method of accounting, investment in subsidiaries and retained earnings would each increase by $730.2 million as of September 30, 2023, and $640.8 million, as of September 30, 2022, respectively.
Schedule I
StoneX Group Inc.
Condensed Statements of Operations
Parent Company Only
 Year Ended September 30,
(in millions)202320222021
Revenues:
Management fees from affiliates$328.7 $109.9 $52.5 
Trading gains (losses), net1.8 (2.8)(0.1)
Consulting fees0.2 0.1 0.3 
Interest income3.3 2.2 1.5 
Dividend income from subsidiaries(1)
281.1 124.4 372.7 
Total revenues615.1 233.8 426.9 
Interest expense83.1 60.9 49.6 
Net revenues532.0 172.9 377.3 
Non-interest expenses:
Compensation and benefits137.9 113.7 99.9 
Trade systems and market information10.2 6.5 6.0 
Occupancy and equipment rental9.3 8.4 8.7 
Selling and marketing2.2 4.9 1.0 
Professional fees12.7 11.9 6.9 
Travel and business development3.1 2.3 0.8 
Non-trading technology and support37.4 30.6 24.9 
Depreciation and amortization13.7 11.0 8.7 
Communications3.4 1.8 1.7 
Impairment— — 0.1 
Management services fees to affiliates188.4 4.3 3.6 
Other12.1 12.4 8.7 
Total non-interest expenses430.4 207.8 171.0 
Gain on acquisitions2.1 — 3.4 
Income (loss) before tax103.7 (34.9)209.7 
Income tax benefit45.4 45.0 33.8 
Net income$149.1 $10.1 $243.5 

(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 is not included in the Condensed Balance Sheet or Condensed Statements of Operations. If the accounting for its investment in wholly owned subsidiaries was presented under the equity method of accounting, total revenues would also include subsidiary earnings/(losses) of $89.4 million, $197.0 million, and $(127.2) million for the years ended September 30, 2023, 2022, and 2021, respectively.
Schedule I
StoneX Group Inc.
Condensed Statements of Cash Flows
Parent Company Only
 Year Ended September 30,
(in millions)202320222021
Cash flows from operating activities:
Net income $149.1 $10.1 $243.5 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization13.7 11.0 8.7 
Amortization of operating right of use assets5.8 6.1 6.1 
Deferred income taxes(3.6)4.7 1.8 
Amortization and extinguishment of debt issuance costs3.9 3.2 3.3 
Loss on extinguishment of debt— — 0.1 
Amortization of share-based compensation expense26.2 16.5 12.9 
Dividends(12.7)(9.6)(125.0)
Gain on acquisition— — (3.3)
Changes in operating assets and liabilities:
Payable to subsidiaries, net11.0 113.6 118.3 
Receivable from clients, net0.2 0.2 — 
Deposits with and receivables from subsidiary broker-dealer, net12.1 (89.1)— 
Notes receivable, net— 1.1 (4.4)
Income taxes receivable(76.6)8.2 (17.4)
Financial instruments owned, at fair value(0.8)(5.1)— 
Other assets(5.7)(7.3)(4.2)
Accounts payable and other accrued liabilities45.8 12.0 12.7 
Operating lease liabilities (4.5)(1.7)(2.6)
Payable to clients— — (0.3)
Financial instruments sold, not yet purchased, at fair value(3.1)2.1 (0.2)
Net cash provided by operating activities160.8 76.0 250.0 
Cash flows from investing activities:
Capital contribution to affiliates(40.0)(180.8)(170.2)
Purchase of property and equipment and internally developed software(17.9)(17.8)(22.0)
Net cash used in investing activities(57.9)(198.6)(192.2)
Cash flows from financing activities:
Net change in lenders under loans(110.6)259.5 (23.4)
Repayments of senior secured term loan— (170.3)(9.8)
Repayments of senior secured notes— — (1.6)
Issuance of note payable— — 9.0 
Deferred payments on acquisitions— (1.9)(2.2)
Share repurchase— — (11.7)
Exercise of stock options3.7 6.7 9.2 
Net cash (used in)/provided by financing activities(106.9)94.0 (30.5)
Net (decrease)/increase in cash and cash equivalents(4.0)(28.6)27.3 
Cash and cash equivalents at beginning of period6.1 34.7 7.4 
Cash and cash equivalents at end of period$2.1 $6.1 $34.7 
Supplemental disclosure of cash flow information:
Cash paid for interest$15.3 $34.9 $28.5 
Income taxes paid, net of cash refunds$34.9 $2.6 $9.8