Interactive Brokers Group, Inc. (NASDAQ GS:IBKR) an automated global
electronic broker and market maker, today reported diluted loss per
share on a comprehensive basis of $0.13 for the quarter ended September
30, 2014, compared to diluted earnings per share on a comprehensive
basis of $0.39 for the same period in 2013.
On a non-comprehensive basis, which excludes the effect of changes in
the U.S. dollar value of the Company’s non-U.S. subsidiaries, the
Company reported diluted earnings per share on net income of $0.05 for
the quarter ended September 30, 2014, compared to diluted earnings per
share of $0.32 for the same period in 2013.
Net revenues were $171 million and income before income taxes was $40
million for this quarter, compared to net revenues of $326 million and
income before income taxes of $196 million for the same period in 2013.
The Interactive Brokers Group, Inc. Board of Directors appointed Milan
Galik as President of the Company.
The Board of Directors declared a quarterly cash dividend of $0.10 per
share. This dividend is payable on December 12, 2014 to shareholders of
record as of December 1, 2014.
Business Highlights
-
63% Electronic Brokerage pretax profit margin for this quarter, up
from 56% in the year-ago quarter.
-
23% overall pretax profit margin for this quarter, down from 60% in
the year-ago quarter. Year to date profit margin was 52%.
-
Customer equity grew 33% from the year-ago quarter to $54.9 billion
and customer debits increased by 36%, to $17.3 billion.
-
Customer accounts grew 18% from the year-ago quarter to 272 thousand.
-
Total DARTs increased 13% from the year-ago quarter to 534 thousand.
-
Brokerage segment equity was $2.9 billion. Total equity was $5.2
billion.
Segment Overview
Electronic Brokerage
Electronic Brokerage segment income before income taxes increased 41%,
to $152 million, in the quarter ended September 30, 2014 compared to the
same period last year. Pretax profit margin was 63% for this quarter, up
from 56% in the same period last year.
Commissions and execution fees increased 10% from the year-ago quarter,
reflecting higher customer trading volumes. Net interest income grew 66%
from the year-ago quarter, to $93 million in this quarter, driven by
higher customer debit and credit balances.
Total DARTs(1) for cleared and execution-only customers
increased 13% to 534 thousand from the year-ago quarter. Cleared DARTs
were 485 thousand in this quarter, 14% higher than the same period last
year.
Customer accounts grew 18% to 272 thousand from the year-ago quarter.
Customer equity increased 33%, to $54.9 billion, from the year-ago
quarter. The size of an average customer account grew 13% to $202
thousand in equity per cleared customer account at the end of this
quarter. Customer margin borrowings were 36% higher than at the same
time last year, ending the quarter at $17.3 billion.
In July 2014, Interactive Brokers began to publish daily financial
information, including a summary of the money it segregates for its
customers. This information can be found on the Interactive Brokers
website(2), www.interactivebrokers.com/finregdat.
Market Making
Market Making segment loss before income taxes was $112 million, for the
quarter ended September 30, 2014 a reversal from the gain of $88 million
for the same period in 2013. Removing the effects of currency
translation, the Market Making segment produced $21 million pretax
income in this quarter, compared to $41 million for the same period last
year and $31 million in the previous quarter. The decrease in market
making profits, excluding currency translation effects, can be
attributed to the ongoing difficult competitive environment, lower
average volatility (as measured by the CBOE VIX index), higher global
M&A activity and a trading error that resulted in a loss of
approximately $16 million during the quarter. The ratio of actual to
implied volatility was higher this quarter from the year ago quarter.
Currency translation loss was $133 million in this quarter, compared to
a $46 million gain in the year-ago quarter.
Effects of Foreign Currency Diversification
In connection with our currency strategy, we have determined to base our
net worth in GLOBALs, a basket of 16 major currencies in which we hold
our equity. In this quarter, our currency diversification program
decreased our comprehensive earnings by $211 million, as the U.S. dollar
value of the GLOBAL decreased by approximately 4.0%. The effects of
currency diversification are reported as components of (1) Market Making
Trading Gains and (2) Other Comprehensive Income (“OCI”). In this
quarter 63% of the GLOBAL effect was captured in Market Making Trading
Gains in the Net Income section of the Statement of Comprehensive
Income, with the remainder reported as OCI in the separate Comprehensive
Income section of the Statement of Comprehensive Income.
(1) Daily average revenue trades (DARTs) are based on
customer orders.
(2) Under: About IB - IB Regulatory Reports - Financial
Regulatory Information.
Board Appoints New President
The Board of Directors appointed Milan Galik as President of the
Company. Mr. Galik, a 24-year veteran of the Company who most recently
held the position of Senior Vice President, Software Development, has
been instrumental in building the Company’s business. Thomas Peterffy,
who will remain Chairman and Chief Executive Officer, said, “We are
extremely pleased to take this meaningful step toward implementing an
effective management structure into the future. I expect to remain
strongly engaged as Chairman and CEO and I look forward to continuing to
work closely with Milan and the rest of the management team.”
Conference Call Information:
Interactive Brokers Group will hold a conference call with investors
today, October 21, 2014, at 4:30 p.m. ET to discuss its quarterly
results. Investors who would like to listen to the conference call live
should dial 877-324-1965 (U.S. domestic) and 631-291-4512
(international). The number should be dialed approximately ten minutes
prior to the start of the conference call. Ask for the “Interactive
Brokers Conference Call.”
The conference call will also be accessible simultaneously, and through
replays, as an audio webcast through the Investor Relations section of
the Interactive Brokers web site, www.interactivebrokers.com/ir.
About Interactive Brokers Group, Inc.:
Interactive Brokers Group, Inc., together with its subsidiaries, is an
automated global electronic broker that specializes in catering to
financial professionals by offering state-of-the-art trading technology,
superior execution capabilities, worldwide electronic access, and
sophisticated risk management tools at exceptionally low costs. The
brokerage trading platform utilizes the same innovative technology as
the Company’s market making business, which specializes in routing
orders and executing and processing trades in securities, futures,
foreign exchange instruments, bonds and funds on more than 100
electronic exchanges and trading venues around the world. As a market
maker, we provide liquidity at these marketplaces and, as a broker, we
provide professional traders and investors with electronic access to
stocks, options, futures, forex, bonds and mutual funds from a single IB
Universal AccountSM. Employing proprietary software on a
global communications network, Interactive Brokers is continuously
integrating its software with a growing number of exchanges and trading
venues into one automatically functioning, computerized platform that
requires minimal human intervention.
Cautionary Note Regarding Forward-Looking Statements:
The foregoing information contains certain forward-looking statements
that reflect the company's current views with respect to certain current
and future events and financial performance. These forward-looking
statements are and will be, as the case may be, subject to many risks,
uncertainties and factors relating to the company's operations and
business environment which may cause the company's actual results to be
materially different from any future results, expressed or implied, in
these forward-looking statements. Any forward-looking statements in this
release are based upon information available to the company on the date
of this release. The company does not undertake to publicly update or
revise its forward-looking statements even if experience or future
changes make it clear that any statements expressed or implied therein
will not be realized. Additional information on risk factors that could
potentially affect the company's financial results may be found in the
company's filings with the Securities and Exchange Commission.
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
|
OPERATING DATA
|
|
TRADE VOLUMES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in 000's, except %)
|
|
|
|
|
|
|
|
Brokerage
|
|
|
|
|
|
|
|
|
|
|
Market
|
|
|
|
Brokerage
|
|
|
|
Non
|
|
|
|
|
|
|
|
Avg. Trades
|
|
|
Making
|
|
%
|
|
Cleared
|
|
%
|
|
Cleared
|
|
%
|
|
Total
|
|
%
|
|
per U.S.
|
Period
|
|
Trades
|
|
Change
|
|
Trades
|
|
Change
|
|
Trades
|
|
Change
|
|
Trades
|
|
Change
|
|
Trading Day
|
2011
|
|
63,602
|
|
|
|
160,567
|
|
|
|
19,187
|
|
|
|
243,356
|
|
|
|
968
|
2012
|
|
60,421
|
|
-5%
|
|
150,000
|
|
-7%
|
|
16,118
|
|
-16%
|
|
226,540
|
|
-7%
|
|
904
|
2013
|
|
65,320
|
|
8%
|
|
173,849
|
|
16%
|
|
18,489
|
|
15%
|
|
257,658
|
|
14%
|
|
1,029
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2013
|
|
15,522
|
|
|
|
42,597
|
|
|
|
4,586
|
|
|
|
62,705
|
|
|
|
987
|
3Q2014
|
|
17,864
|
|
15%
|
|
49,636
|
|
17%
|
|
4,282
|
|
-7%
|
|
71,782
|
|
14%
|
|
1,130
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2014
|
|
14,897
|
|
|
|
48,622
|
|
|
|
4,290
|
|
|
|
67,809
|
|
|
|
1,076
|
3Q2014
|
|
17,864
|
|
20%
|
|
49,636
|
|
2%
|
|
4,282
|
|
0%
|
|
71,782
|
|
6%
|
|
1,130
|
|
|
CONTRACT AND SHARE VOLUMES:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in 000's, except %)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL
|
|
|
|
Options
|
|
%
|
|
Futures*
|
|
%
|
|
Stocks
|
|
%
|
|
|
|
|
Period
|
|
|
|
(contracts)
|
|
Change
|
|
(contracts)
|
|
Change
|
|
(shares)
|
|
Change
|
|
|
|
|
2011
|
|
|
|
789,370
|
|
|
|
106,640
|
|
|
|
77,730,974
|
|
|
|
|
|
|
2012
|
|
|
|
698,140
|
|
-12%
|
|
98,801
|
|
-7%
|
|
65,872,960
|
|
-15%
|
|
|
|
|
2013
|
|
|
|
659,673
|
|
-6%
|
|
121,776
|
|
23%
|
|
95,479,739
|
|
45%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2013
|
|
|
|
153,153
|
|
|
|
29,666
|
|
|
|
22,989,713
|
|
|
|
|
|
|
3Q2014
|
|
|
|
151,768
|
|
-1%
|
|
29,352
|
|
-1%
|
|
36,040,255
|
|
57%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2014
|
|
|
|
144,635
|
|
|
|
28,774
|
|
|
|
35,891,325
|
|
|
|
|
|
|
3Q2014
|
|
|
|
151,768
|
|
5%
|
|
29,352
|
|
2%
|
|
36,040,255
|
|
0%
|
|
|
|
|
|
|
MARKET MAKING
|
|
Options
|
|
%
|
|
Futures*
|
|
%
|
|
Stocks
|
|
%
|
|
|
|
|
Period
|
|
|
|
(contracts)
|
|
Change
|
|
(contracts)
|
|
Change
|
|
(shares)
|
|
Change
|
|
|
|
|
2011
|
|
|
|
503,053
|
|
|
|
15,519
|
|
|
|
11,788,769
|
|
|
|
|
|
|
2012
|
|
|
|
457,384
|
|
-9%
|
|
12,660
|
|
-18%
|
|
9,339,465
|
|
-21%
|
|
|
|
|
2013
|
|
|
|
404,490
|
|
-12%
|
|
18,184
|
|
44%
|
|
12,849,729
|
|
38%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2013
|
|
|
|
93,254
|
|
|
|
4,263
|
|
|
|
3,169,320
|
|
|
|
|
|
|
3Q2014
|
|
|
|
81,395
|
|
-13%
|
|
3,542
|
|
-17%
|
|
3,137,329
|
|
-1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2014
|
|
|
|
78,641
|
|
|
|
4,088
|
|
|
|
2,836,471
|
|
|
|
|
|
|
3Q2014
|
|
|
|
81,395
|
|
4%
|
|
3,542
|
|
-13%
|
|
3,137,329
|
|
11%
|
|
|
|
|
|
|
BROKERAGE TOTAL
|
|
Options
|
|
%
|
|
Futures*
|
|
%
|
|
Stocks
|
|
%
|
|
|
|
|
Period
|
|
|
|
(contracts)
|
|
Change
|
|
(contracts)
|
|
Change
|
|
(shares)
|
|
Change
|
|
|
|
|
2011
|
|
|
|
286,317
|
|
|
|
91,121
|
|
|
|
65,942,205
|
|
|
|
|
|
|
2012
|
|
|
|
240,756
|
|
-16%
|
|
86,141
|
|
-5%
|
|
56,533,495
|
|
-14%
|
|
|
|
|
2013
|
|
|
|
255,183
|
|
6%
|
|
103,592
|
|
20%
|
|
82,630,010
|
|
46%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2013
|
|
|
|
59,899
|
|
|
|
25,403
|
|
|
|
19,820,393
|
|
|
|
|
|
|
3Q2014
|
|
|
|
70,373
|
|
17%
|
|
25,810
|
|
2%
|
|
32,902,926
|
|
66%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2014
|
|
|
|
65,994
|
|
|
|
24,686
|
|
|
|
33,054,854
|
|
|
|
|
|
|
3Q2014
|
|
|
|
70,373
|
|
7%
|
|
25,810
|
|
5%
|
|
32,902,926
|
|
0%
|
|
|
|
|
|
* Includes options on futures
|
|
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
|
OPERATING DATA, CONTINUED
|
|
BROKERAGE CLEARED
|
|
Options
|
|
%
|
|
Futures*
|
|
%
|
|
Stocks
|
|
%
|
Period
|
|
(contracts)
|
|
Change
|
|
(contracts)
|
|
Change
|
|
(shares)
|
|
Change
|
2011
|
|
145,993
|
|
|
|
89,610
|
|
|
|
63,098,072
|
|
|
2012
|
|
144,539
|
|
-1%
|
|
84,794
|
|
-5%
|
|
54,371,351
|
|
-14%
|
2013
|
|
180,660
|
|
25%
|
|
101,732
|
|
20%
|
|
78,829,785
|
|
45%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3Q2013
|
|
42,668
|
|
|
|
25,017
|
|
|
|
18,820,414
|
|
|
3Q2014
|
|
56,824
|
|
33%
|
|
25,559
|
|
2%
|
|
31,814,664
|
|
69%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2Q2014
|
|
50,732
|
|
|
|
24,262
|
|
|
|
32,041,810
|
|
|
3Q2014
|
|
56,824
|
|
12%
|
|
25,559
|
|
5%
|
|
31,814,664
|
|
-1%
|
|
* Includes options on futures
|
|
BROKERAGE STATISTICS
|
|
|
|
|
|
|
(in 000's, except % and where noted)
|
|
|
|
|
|
|
|
Year over Year
|
|
3Q2014
|
|
3Q2013
|
|
% Change
|
Total Accounts
|
|
272
|
|
231
|
|
18%
|
Customer Equity (in billions)*
|
|
$54.9
|
|
$41.4
|
|
33%
|
|
|
|
|
|
|
|
Cleared DARTs
|
|
485
|
|
426
|
|
14%
|
Total Customer DARTs
|
|
534
|
|
471
|
|
13%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cleared Customers (in $'s, except DART per account)
|
|
|
|
|
|
|
Commission per DART
|
|
$4.21
|
|
$4.32
|
|
-3%
|
DART per Avg. Account (Annualized)
|
|
455
|
|
469
|
|
-3%
|
Net Revenue per Avg. Account (Annualized)
|
|
$3,532
|
|
$3,291
|
|
7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consecutive Quarters
|
|
3Q2014
|
|
2Q2014
|
|
% Change
|
Total Accounts
|
|
272
|
|
262
|
|
4%
|
Customer Equity (in billions)*
|
|
$54.9
|
|
$53.9
|
|
2%
|
|
|
|
|
|
|
|
Cleared DARTs
|
|
485
|
|
484
|
|
0%
|
Total Customer DARTs
|
|
534
|
|
529
|
|
1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cleared Customers (in $'s, except DART per account)
|
|
|
|
|
|
|
Commission per DART
|
|
$4.21
|
|
$4.00
|
|
5%
|
DART per Avg. Account (Annualized)
|
|
455
|
|
473
|
|
-4%
|
Net Revenue per Avg. Account (Annualized)
|
|
$3,532
|
|
$3,360
|
|
5%
|
|
* Excludes non-customers.
|
|
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
|
SEGMENT FINANCIAL INFORMATION
|
(UNAUDITED)
|
|
|
|
|
|
Three Months
|
|
Nine Months
|
|
|
|
|
Ended September 30,
|
|
Ended September 30,
|
|
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
|
|
(in millions)
|
|
|
|
|
|
|
|
|
|
|
|
Electronic Brokerage
|
|
Net revenues
|
|
$243.0
|
|
$194.7
|
|
$687.3
|
|
$602.5
|
|
|
Non-interest expenses
|
|
90.6
|
|
86.3
|
|
269.2
|
|
259.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
$152.4
|
|
$108.4
|
|
$418.1
|
|
$342.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pre-tax profit margin
|
|
63%
|
|
56%
|
|
61%
|
|
57%
|
|
|
|
|
|
|
|
|
|
|
|
Market Making
|
|
Net revenues
|
|
($70.4)
|
|
$130.9
|
|
$154.6
|
|
$221.9
|
|
|
Non-interest expenses
|
|
41.4
|
|
43.4
|
|
131.8
|
|
155.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
($111.8)
|
|
$87.5
|
|
$22.8
|
|
$66.1
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pre-tax profit margin
|
|
-159%
|
|
67%
|
|
15%
|
|
30%
|
|
|
|
|
|
|
|
|
|
|
|
Corporate*
|
|
Net revenues
|
|
($1.6)
|
|
$0.7
|
|
($6.7)
|
|
$1.9
|
|
|
Non-interest expenses
|
|
(0.5)
|
|
0.2
|
|
2.4
|
|
(1.8)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
($1.1)
|
|
$0.5
|
|
($9.1)
|
|
$3.7
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
Net revenues
|
|
$171.0
|
|
$326.3
|
|
$835.2
|
|
$826.3
|
|
|
Non-interest expenses
|
|
131.5
|
|
129.9
|
|
403.4
|
|
413.8
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
$39.5
|
|
$196.4
|
|
$431.8
|
|
$412.5
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pre-tax profit margin
|
|
23%
|
|
60%
|
|
52%
|
|
50%
|
|
* Corporate includes corporate related activities as well as
inter-segment eliminations.
|
|
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
|
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
|
(UNAUDITED)
|
|
|
|
Three Months
|
|
Nine Months
|
|
|
Ended September 30,
|
|
Ended September 30,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
(in millions, except share and per share data)
|
|
|
|
|
|
|
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
Trading gains
|
|
($75.7)
|
|
$123.3
|
|
$135.8
|
|
$201.4
|
Commissions and execution fees
|
|
132.6
|
|
120.4
|
|
393.6
|
|
378.0
|
Interest income
|
|
122.4
|
|
74.0
|
|
303.3
|
|
220.6
|
Other income
|
|
15.9
|
|
20.8
|
|
52.9
|
|
65.0
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
195.2
|
|
338.5
|
|
885.6
|
|
865.0
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
24.2
|
|
12.2
|
|
50.4
|
|
38.7
|
|
|
|
|
|
|
|
|
|
Total net revenues
|
|
171.0
|
|
326.3
|
|
835.2
|
|
826.3
|
|
|
|
|
|
|
|
|
|
Non-interest expenses:
|
|
|
|
|
|
|
|
|
Execution and clearing
|
|
52.2
|
|
56.0
|
|
158.0
|
|
180.3
|
Employee compensation and benefits
|
|
49.4
|
|
44.3
|
|
156.5
|
|
148.6
|
Occupancy, depreciation and amortization
|
|
9.4
|
|
9.3
|
|
28.9
|
|
28.6
|
Communications
|
|
6.0
|
|
6.2
|
|
18.2
|
|
17.4
|
General and administrative
|
|
14.5
|
|
14.1
|
|
41.8
|
|
38.9
|
|
|
|
|
|
|
|
|
|
Total non-interest expenses
|
|
131.5
|
|
129.9
|
|
403.4
|
|
413.8
|
|
|
|
|
|
|
|
|
|
Income before income taxes
|
|
39.5
|
|
196.4
|
|
431.8
|
|
412.5
|
|
|
|
|
|
|
|
|
|
Income tax expense
|
|
7.8
|
|
10.4
|
|
38.2
|
|
31.2
|
|
|
|
|
|
|
|
|
|
Net income
|
|
31.7
|
|
186.0
|
|
393.6
|
|
381.3
|
|
|
|
|
|
|
|
|
|
Net income attributable to noncontrolling interests
|
|
28.5
|
|
169.5
|
|
356.2
|
|
347.9
|
|
|
|
|
|
|
|
|
|
Net income available for common stockholders
|
|
$3.2
|
|
$16.5
|
|
$37.4
|
|
$33.4
|
|
|
|
|
|
|
|
|
|
Earnings per share :
|
|
|
|
|
|
|
|
|
Basic
|
|
$0.06
|
|
$0.33
|
|
$0.67
|
|
$0.68
|
Diluted
|
|
$0.05
|
|
$0.32
|
|
$0.65
|
|
$0.67
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
|
57,099,052
|
|
49,966,050
|
|
55,956,615
|
|
48,807,321
|
Diluted
|
|
58,220,070
|
|
50,988,214
|
|
57,196,113
|
|
49,981,664
|
|
|
|
|
|
|
|
|
|
Comprehensive income:
|
|
|
|
|
|
|
|
|
Net income available for common stockholders
|
|
$3.2
|
|
$16.5
|
|
$37.4
|
|
$33.4
|
Other comprehensive income:
|
|
|
|
|
|
|
|
|
Cumulative translation adjustment, before income taxes
|
|
(11.1)
|
|
3.7
|
|
(9.0)
|
|
(4.0)
|
Income taxes related to items of other comprehensive income
|
|
(0.3)
|
|
0.1
|
|
(0.1)
|
|
(0.3)
|
Other comprehensive income (loss), net of tax
|
|
(10.8)
|
|
3.6
|
|
(8.9)
|
|
(3.7)
|
Comprehensive income (loss) available for common stockholders
|
|
($7.6)
|
|
$20.1
|
|
$28.5
|
|
$29.7
|
|
|
|
|
|
|
|
|
|
Comprehensive income attributable to noncontrolling interests:
|
|
|
|
|
|
|
|
|
Net income attributable to noncontrolling interests
|
|
28.5
|
|
$169.5
|
|
356.2
|
|
$347.9
|
Other comprehensive income (loss) - cumulative translation adjustment
|
|
(67.2)
|
|
26.0
|
|
(54.5)
|
|
(29.6)
|
Comprehensive income (loss) attributable to noncontrolling
interests
|
|
($38.7)
|
|
$195.5
|
|
$301.7
|
|
$318.3
|
|
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
|
EARNINGS PER SHARE ON COMPREHENSIVE INCOME
|
(UNAUDITED)
|
|
|
|
Three Months
|
|
Nine Months
|
|
|
Ended September 30,
|
|
Ended September 30,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
|
|
(in millions, except share and per share data)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) available for common stockholders,
net of tax
|
|
($7.6)
|
|
$20.1
|
|
$28.5
|
|
$29.7
|
|
|
|
|
|
|
|
|
|
Comprehensive income (loss) per share:
|
|
|
|
|
|
|
|
|
Basic
|
|
($0.13)
|
|
$0.40
|
|
$0.51
|
|
$0.61
|
Diluted
|
|
($0.13)
|
|
$0.39
|
|
$0.50
|
|
$0.59
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average common shares outstanding:
|
|
|
|
|
|
|
|
|
Basic
|
|
57,099,052
|
|
49,966,050
|
|
55,956,615
|
|
48,807,321
|
Diluted
|
|
58,220,070
|
|
50,988,214
|
|
57,196,113
|
|
49,981,664
|
|
INTERACTIVE BROKERS GROUP, INC. AND SUBSIDIARIES
|
CONDENSED CONSOLIDATED BALANCE SHEET
|
(UNAUDITED)
|
|
|
|
September 30,
|
|
December 31,
|
|
|
2014
|
|
2013
|
|
|
(in millions)
|
|
|
|
|
|
Assets
|
|
|
|
|
Cash and cash equivalents
|
|
$1,010.8
|
|
$1,213.2
|
Cash and securities - segregated for regulatory purposes
|
|
15,291.3
|
|
13,991.7
|
Securities purchased under agreements to resell
|
|
2,955.1
|
|
386.3
|
Securities borrowed
|
|
273.5
|
|
2,751.5
|
Trading assets, at fair value
|
|
3,396.2
|
|
4,448.8
|
Receivables from customers, net of allowance
|
|
17,261.4
|
|
13,596.7
|
Receivables from brokers, dealers and clearing organizations
|
|
885.3
|
|
858.2
|
Other assets
|
|
534.6
|
|
624.3
|
|
|
|
|
|
Total assets
|
|
$41,608.2
|
|
$37,870.7
|
|
|
|
|
|
Liabilities and equity
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
Trading liabilities - financial instruments sold but not yet
purchased, at fair value
|
|
$2,649.7
|
|
$3,153.7
|
Securities loaned
|
|
3,116.4
|
|
2,563.7
|
Short-term borrowings
|
|
59.4
|
|
24.6
|
Other payables:
|
|
|
|
|
Customers
|
|
29,966.1
|
|
26,319.4
|
Brokers, dealers and clearing organizations
|
|
238.7
|
|
331.0
|
Other payables
|
|
385.3
|
|
386.2
|
|
|
30,590.1
|
|
27,036.6
|
|
|
|
|
|
Equity
|
|
|
|
|
Stockholders' equity
|
|
750.8
|
|
707.3
|
Noncontrolling interests
|
|
4,441.8
|
|
4,384.8
|
Total equity
|
|
5,192.6
|
|
5,092.1
|
|
|
|
|
|
Total liabilities and equity
|
|
$41,608.2
|
|
$37,870.7
|
Copyright Business Wire 2014