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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Millions
Mar. 31, 2024
Sep. 30, 2023
ASSETS    
Cash and cash equivalents $ 1,305.1 $ 1,108.3
Restricted cash 363.0 [1] 0.0
Cash, securities and other assets segregated under federal and other regulations (including $4.1 million and $5.8 million at fair value at March 31, 2024 and September 30, 2023, respectively) 2,838.4 2,426.3
Collateralized transactions:    
Securities purchased under agreements to resell 3,744.6 2,979.5
Securities borrowed 1,430.6 1,129.1
Deposits with and receivables from broker-dealers, clearing organizations and counterparties, net (including $4,157.3 million and $4,248.3 million at fair value at March 31, 2024 and September 30, 2023, respectively) 7,706.5 7,443.8
Receivable from clients, net (including $(3.4) million and $(7.9) million at fair value at March 31, 2024 and September 30, 2023, respectively) 1,293.4 683.1
Notes receivable, net 0.0 5.2
Income taxes receivable 32.9 25.1
Financial instruments owned, at fair value (includes securities pledged as collateral that can be sold or repledged of $1,860.8 million and $1,466.4 million at March 31, 2024 and September 30, 2023, respectively) 5,666.5 5,044.8
Physical commodities inventory, net (including $355.2 million and $386.5 million at fair value at March 31, 2024 and September 30, 2023, respectively) 616.9 537.3
Deferred tax asset 42.3 45.4
Property and equipment, net 134.2 123.5
Operating right of use assets 146.4 122.1
Goodwill and intangible assets, net 79.5 82.4
Other assets 250.7 182.8
Total assets 25,651.0 21,938.7
Liabilities:    
Accounts payable and other accrued liabilities (including $1.7 million and $1.5 million at fair value at March 31, 2024 and September 30, 2023, respectively) 491.8 533.0
Operating lease liabilities 181.9 149.3
Payables to:    
Clients (including $585.6 million and $79.8 million at fair value at March 31, 2024 and September 30, 2023, respectively) 11,165.4 9,976.0
Broker-dealers, clearing organizations and counterparties (including $(21.3) million and $10.2 million at fair value at March 31, 2024 and September 30, 2023, respectively) 391.7 442.4
Lenders under loans 253.6 341.0
Senior secured borrowings, net 885.9 342.1
Income taxes payable 36.6 38.2
Deferred tax liability 8.2 8.1
Collateralized transactions:    
Securities sold under agreements to repurchase 6,011.7 4,526.6
Securities loaned 1,458.6 1,117.3
Financial instruments sold, not yet purchased, at fair value 3,223.0 3,085.6
Total liabilities 24,108.4 20,559.6
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; 35,561,232 issued and 31,650,247 outstanding at March 31, 2024 and 35,105,852 issued and 31,194,867 outstanding at September 30, 2023 0.4 0.4
Common stock in treasury, at cost. 3,910,985 shares at March 31, 2024 and September 30, 2023 (69.3) (69.3)
Additional paid-in-capital 390.8 371.7
Retained earnings 1,250.3 1,128.1
Accumulated other comprehensive loss, net (29.6) (51.8)
Total equity 1,542.6 1,379.1
Total liabilities and stockholders' equity $ 25,651.0 $ 21,938.7
[1] Represents restricted cash held in an escrow account, as further described in Note 1 and Note 9.