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Condensed Consolidated Income Statements (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Revenues:        
Total revenues $ 22,106.1 $ 16,161.0 $ 41,679.1 $ 29,172.6
Cost of sales of physical commodities 21,287.9 15,456.6 40,076.7 27,813.4
Operating revenues 818.2 704.4 1,602.4 1,359.2
Transaction-based clearing expenses 78.5 69.2 152.8 136.5
Introducing broker commissions 42.0 42.2 81.1 79.0
Interest expense 259.2 178.7 495.2 333.0
Interest expense on corporate funding 16.2 14.9 29.4 29.3
Net operating revenues 422.3 399.4 843.9 781.4
Compensation and other expenses:        
Compensation and benefits 234.4 232.5 452.5 431.5
Trading systems and market information 19.4 17.8 38.1 35.5
Professional fees 19.3 11.3 35.0 27.2
Non-trading technology and support 18.0 16.2 34.9 31.0
Occupancy and equipment rental 13.6 10.6 21.3 19.5
Selling and marketing 15.6 14.2 27.3 27.1
Travel and business development 7.1 5.8 14.2 11.5
Communications 2.3 2.1 4.5 4.3
Depreciation and amortization 12.3 13.1 23.5 25.8
Bad debts (recoveries), net (0.4) 3.0 (0.7) 3.7
Other 15.3 15.3 32.2 34.7
Total compensation and other expenses 356.9 341.9 682.8 651.8
Gain on acquisition and other gains 6.9 0.0 6.9 23.5
Income before tax 72.3 57.5 168.0 153.1
Income tax expense 19.2 15.8 45.8 34.8
Net income $ 53.1 $ 41.7 $ 122.2 $ 118.3
Earnings per share:        
Basic (in dollar per shares) $ 1.68 $ 1.35 $ 3.88 $ 3.85
Diluted (in dollar per shares) $ 1.63 $ 1.30 $ 3.76 $ 3.71
Weighted-average number of common shares outstanding:        
Basic (in shares) 30,473,856 29,895,041 30,352,824 29,775,078
Diluted (in shares) 31,498,943 30,931,792 31,373,739 30,830,870
Sales of physical commodities        
Revenues:        
Total revenues $ 21,321.9 $ 15,506.2 $ 40,142.8 $ 27,909.6
Principal gains, net        
Revenues:        
Total revenues 281.8 256.6 575.6 510.8
Commission and clearing fees        
Revenues:        
Total revenues 136.2 130.7 265.9 248.7
Consulting, management, and account fees        
Revenues:        
Total revenues 40.2 40.7 78.7 80.5
Interest income        
Revenues:        
Total revenues $ 326.0 $ 226.8 $ 616.1 $ 423.0