Interactive Brokers Group, Inc(NASDAQ:IBKR) 
Interactive Brokers Group, Inc. operates as an automated electronic broker worldwide. It specializes in executing and clearing trades in stocks, options, futures, foreign exchange instruments, bonds, mutual funds, and exchange traded funds (ETFs). The company custodies and services accounts for hedg...
Website: http://www.interactivebrokers.com
Founded: 1978
Full Time Employees: 1,923
Founder: Thomas Peterffy
CEO: Milan Galik
Sector: Financial Services
Industry: Capital Markets
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At a glance:
- Earnings and Account Growth Driven by Higher Rates and Market Activity: Interactive Brokers’ revenue and profitability are highly sensitive to interest rates and client trading activity, with net interest income and commissions typically benefiting from higher short-term rates and elevated market volatility.
- Client Assets and New Accounts Remain a Key Leading Indicator: Growth in client accounts, net new assets, and overall client equity are central drivers of future revenue, supporting higher interest-earning balances and greater trading volumes across asset classes.
- Diversified, Global Electronic Brokerage Model Supports Scale: A predominantly automated, low-cost platform and broad product coverage (stocks, options, futures, FX, fixed income) enable operating leverage as volumes rise, helping sustain competitive pricing while expanding margins.
- Rate Cuts and Lower Volatility Are Core Near-Term Risks: Declining short-term rates can compress net interest income, while subdued volatility may reduce trading volumes; both factors can pressure revenue despite continued customer growth.
- Regulatory, Margin, and Execution Quality Requirements Remain Central: As a broker-dealer with material margin lending and global operations, performance and risk are influenced by regulatory capital requirements, risk management practices, and ongoing scrutiny around market structure and best execution.
Bull Thesis:
- Strong Net Interest Income Growth: Interactive Brokers significantly benefits from higher interest rates on client cash balances. As central banks maintain or increase rates, IBKR's net interest income, a substantial portion of its revenue, continues to grow, providing a strong tailwind to profitability.
- Technology Leadership and Global Diversification: IBKR's advanced trading platform, extensive product offerings (stocks, options, futures, forex, bonds, funds), and global market access attract sophisticated traders and institutions. This technological edge and broad diversification across asset classes and geographies make it resilient and appealing to a high-value client base.
- Scalable Business Model and Operating Leverage: The company's highly automated and efficient platform allows for significant growth in client accounts and assets under management without a proportional increase in operating costs. This inherent scalability leads to strong operating leverage, meaning incremental revenue growth can translate into even faster profit growth.
- Attracting Sophisticated Traders and Institutions: IBKR's focus on providing low-cost access to a vast array of global markets, coupled with powerful trading tools and APIs, makes it a preferred choice for active traders, hedge funds, and financial advisors. This niche focus on high-volume, professional clients ensures a sticky and profitable customer base.
Bear Thesis:
- Vulnerability to Declining Interest Rates: While high interest rates are currently a boon, a significant reversal or sustained decline in global interest rates would directly and negatively impact IBKR's net interest income, which has become a major component of its overall revenue and profitability.
- Intense Competition and Pricing Pressure: The brokerage industry remains highly competitive, with ongoing pressure from commission-free trading models and new fintech entrants. While IBKR targets a specific segment, there's always a risk of further fee compression or new competitors eroding market share.
- Regulatory and Cybersecurity Risks: As a global financial institution, IBKR faces constant scrutiny and evolving regulatory requirements across multiple jurisdictions. Non-compliance can lead to significant fines, reputational damage, and increased operational costs. Furthermore, holding vast client assets and data makes it a prime target for cyberattacks, posing substantial financial and reputational risks.
- Reliance on Market Volatility and Trading Volumes: A significant portion of IBKR's revenue comes from commissions generated by client trading activity. A prolonged period of low market volatility and reduced trading volumes could lead to a slowdown in commission revenue, impacting overall financial performance.
Main Competitors:
- Charles Schwab Corporation ($SCHW) (Schwab Intelligent Portfolios, StreetSmart Edge, Schwab Trading Services), A major full-service brokerage offering a wide range of investment products, wealth management, and banking services. Competes with IBKR for individual investors, active traders, and financial advisors, particularly in the US market. While Schwab offers zero-commission stock trades, IBKR often provides more competitive margin rates and broader global product access for active traders. Schwab's acquisition of TD Ameritrade significantly expanded its active trader base, making it a formidable competitor.
- Fidelity Investments (Fidelity Active Trader Pro, Fidelity Go, Fidelity Wealth Management), A large, privately held financial services firm offering brokerage, mutual funds, ETFs, retirement services, and wealth management. Competes with IBKR for individual investors, active traders, and institutional clients. Fidelity also offers zero-commission stock trades and is known for strong customer service and research, appealing to a broader base than just active traders, though IBKR often leads on global market access and margin rates for sophisticated users.
- E*TRADE (Morgan Stanley) ($MS) (Power E*TRADE, E*TRADE Core Portfolios), Now a subsidiary of Morgan Stanley, E*TRADE targets active traders and self-directed investors with its trading platforms, educational resources, and investment tools. It competes directly with IBKR for active traders, offering competitive pricing and a user-friendly experience, though IBKR typically offers more extensive global market access and often more competitive margin rates for high-volume traders.
- TradeStation Group, Inc. (TradeStation Platform), A subsidiary of Monex Group, TradeStation is known for its advanced trading platform, popular among active and professional traders for its charting, analysis tools, and automated trading capabilities. It directly competes with IBKR for the most sophisticated and active traders, offering similar product breadth (stocks, options, futures, forex) and competitive pricing, often appealing to those who prioritize platform features and customizability.
- Robinhood Markets, Inc. ($HOOD) (Robinhood trading app), Robinhood's zero-commission model and user-friendly mobile app disrupted the brokerage industry, attracting a new generation of retail investors. It competes with IBKR for a segment of self-directed retail investors, particularly those focused on US stocks and options, though IBKR offers a far more sophisticated platform, broader product range, and caters to more advanced trading strategies and global markets.
Moat:
Interactive Brokers (IBKR) maintains a strong competitive moat primarily through its **cost leadership** (very low commissions, highly competitive margin rates), **unparalleled global market access** across a vast array of products (stocks, options, futures, forex, bonds, funds), and **advanced technology** tailored for sophisticated active traders, institutional investors, and financial advisors. Its platform is designed for efficiency and breadth, rather than hand-holding, appealing to a professional and self-directed client base.
Competition comes from several fronts:
1. **Full-service brokers (Charles Schwab, Fidelity, E*TRADE)**: These firms compete on overall breadth of services, customer support, research, and wealth management, often appealing to a broader base of investors. While they have largely matched IBKR on zero-commission stock trades, IBKR often retains an edge in margin rates and global product depth for active users.
2. **Specialized active trader platforms (TradeStation)**: These directly compete for the most sophisticated and professional traders by offering highly advanced charting, analysis, and automated trading tools, often with similar product offerings.
3. **Discount/mobile-first brokers (Robinhood)**: These disruptors compete on simplicity, ease of use, and zero-commission for basic trading, attracting newer and less sophisticated investors, which has pressured all brokers to adapt their pricing models. However, IBKR's target demographic typically requires more advanced features than these platforms offer.
IBKR's challenge is to continue innovating its technology and expanding its global reach while balancing its cost-effective model with the evolving demands for user experience and broader wealth management services, especially as competitors consolidate and enhance their offerings.
Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-03-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-09-30 | 2009-06-30 | 2009-03-31 | 2008-12-31 | 2008-09-30 | 2008-06-30 | 2008-03-31 | 2007-12-31 | 2007-06-30 | 2007-03-31 |
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revenues | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
commissions | 613,000,000 | 582,000,000 | 537,000,000 | 516,000,000 | 514,000,000 | 477,000,000 | 435,000,000 | 406,000,000 | 379,000,000 | 348,000,000 | 333,000,000 | 322,000,000 | 357,000,000 | 331,000,000 | 320,000,000 | 322,000,000 | 349,000,000 | 320,000,000 | 311,000,000 | 307,000,000 | 412,000,000 | 288,000,000 | 279,000,000 | 276,000,000 | 269,000,000 | 168,000,000 | 187,000,000 | 178,000,000 | 173,000,000 | 776,999,428 | 167 | 185,000,000 | 220,000,000 | 163 | ||||||||||||||||||||||||||||||||
other fees and services | 86,000,000 | 85,000,000 | 66,000,000 | 62,000,000 | 78,000,000 | 81,000,000 | 72,000,000 | 68,000,000 | 59,000,000 | 55,000,000 | 52,000,000 | 47,000,000 | 43,000,000 | 43,000,000 | 45,000,000 | 43,000,000 | 53,000,000 | 58,000,000 | 49,000,000 | 55,000,000 | 56,000,000 | 52,000,000 | 45,000,000 | 40,000,000 | 38,000,000 | |||||||||||||||||||||||||||||||||||||||||
other income | 66,000,000 | 10,000,000 | 85,000,000 | 42,000,000 | 65,000,000 | 22,000,000 | 56,000,000 | -36,000,000 | 18,000,000 | 6,000,000 | 27,000,000 | -63,000,000 | 19,000,000 | 37,000,000 | -48,000,000 | -57,000,000 | -39,000,000 | -70,000,000 | -170,000,000 | 118,000,000 | 120,000,000 | 34,000,000 | 29,000,000 | 27,000,000 | -31,000,000 | 38,000,000 | -19,000,000 | -30,000,000 | 132,000,000 | 157,999,879 | 21 | 23,000,000 | 77,000,000 | 70 | 76,000,000 | 27 | 57 | 144,000,000 | 55 | -132,000,000 | 15,887,000 | 17,843,000 | 19,158,000 | 20,826,000 | 24,262,000 | 19,911,000 | 17,104,000 | 15,322,000 | 18,324,000 | 10,726,000 | 14,976,000 | 17,435,000 | 13,928,000 | 17,723,000 | 16,774,000 | 13,047,000 | 7,600,000 | 21,486,000 | 25,755,000 | 7,129,000 | 17,737,000 | 30,779,000 | 22,605,000 | 24,700,000 | ||
total non-interest income | 765,000,000 | 677,000,000 | 688,000,000 | 620,000,000 | 657,000,000 | 580,000,000 | 563,000,000 | 438,000,000 | 456,000,000 | 409,000,000 | 412,000,000 | 306,000,000 | 419,000,000 | 411,000,000 | 317,000,000 | 308,000,000 | 363,000,000 | 308,000,000 | 190,000,000 | 480,000,000 | 588,000,000 | 374,000,000 | 353,000,000 | 343,000,000 | 276,000,000 | |||||||||||||||||||||||||||||||||||||||||
interest income | 1,947,000,000 | 2,072,000,000 | 2,101,000,000 | 1,891,000,000 | 1,718,000,000 | 1,863,000,000 | 1,888,000,000 | 1,828,000,000 | 1,760,000,000 | 1,695,000,000 | 1,643,000,000 | 1,545,000,000 | 1,347,000,000 | 1,111,000,000 | 783,000,000 | 460,000,000 | 332,000,000 | 350,000,000 | 325,000,000 | 307,000,000 | 390,000,000 | 280,000,000 | 240,000,000 | 244,000,000 | 369,000,000 | 418,000,000 | 468,000,000 | 432,000,000 | 408,000,000 | 1,391,998,993 | 363 | 333,000,000 | 311,000,000 | 243 | 177,000,000 | 157 | 144 | 145,000,000 | 122 | 126 | 108,000,000 | 122,371,000 | 95,027,000 | 85,883,000 | 74,000,000 | 76,070,000 | 70,502,000 | 65,410,000 | 68,621,000 | 66,576,000 | 73,694,000 | 79,400,000 | 58,663,000 | 42,350,000 | 40,968,000 | 36,649,000 | 29,902,000 | 33,500,000 | 26,321,000 | 63,382,000 | 101,168,000 | 128,730,000 | 143,920,000 | 205,091,000 | 184,500,000 | |
interest expense | -1,043,000,000 | -1,106,000,000 | -1,134,000,000 | -1,031,000,000 | -948,000,000 | -1,056,000,000 | -1,086,000,000 | -1,036,000,000 | -1,013,000,000 | -965,000,000 | -910,000,000 | -851,000,000 | -710,000,000 | -546,000,000 | -310,000,000 | -112,000,000 | -50,000,000 | -55,000,000 | -51,000,000 | -33,000,000 | -85,000,000 | -55,000,000 | -45,000,000 | -48,000,000 | -113,000,000 | 131,000,000 | 177,000,000 | 173,000,000 | 162,000,000 | 462,999,679 | 119 | 108,000,000 | 94,000,000 | 61 | 35,000,000 | 21 | 18 | 18,000,000 | 16 | 18 | 15,000,000 | 24,130,000 | 11,942,000 | 14,286,000 | 12,191,000 | 13,574,000 | 12,871,000 | 14,199,000 | 16,133,000 | 19,143,000 | 23,337,000 | 24,437,000 | 17,747,000 | 15,959,000 | 17,714,000 | 15,160,000 | 15,173,000 | 22,800,000 | 16,184,000 | 45,498,000 | 70,819,000 | 102,545,000 | 113,138,000 | 143,547,000 | 133,500,000 | |
total net interest income | 904,000,000 | 966,000,000 | 967,000,000 | 860,000,000 | 770,000,000 | 807,000,000 | 802,000,000 | 792,000,000 | 747,000,000 | 730,000,000 | 733,000,000 | 694,000,000 | 637,000,000 | 565,000,000 | 473,000,000 | 348,000,000 | 282,000,000 | 295,000,000 | 274,000,000 | 274,000,000 | 305,000,000 | 225,000,000 | 195,000,000 | 196,000,000 | 256,000,000 | |||||||||||||||||||||||||||||||||||||||||
total net revenues | 1,669,000,000 | 1,643,000,000 | 1,655,000,000 | 1,480,000,000 | 1,427,000,000 | 1,387,000,000 | 1,365,000,000 | 1,230,000,000 | 1,203,000,000 | 1,139,000,000 | 1,145,000,000 | 1,000,000,000 | 1,056,000,000 | 976,000,000 | 790,000,000 | 656,000,000 | 645,000,000 | 603,000,000 | 464,000,000 | 754,000,000 | 893,000,000 | 599,000,000 | 548,000,000 | 539,000,000 | 532,000,000 | 500,000,000 | 466,000,000 | 413,000,000 | 558,000,000 | 1,902,998,589 | 439 | 445,000,000 | 527,000,000 | 426 | 374,000,000 | 345 | 369 | 489,000,000 | 359 | 387 | 172,000,000 | 170,974,000 | 309,299,000 | 354,908,000 | 326,252,000 | 283,956,000 | 299,138,000 | 271,492,000 | 332,100,000 | 296,341,000 | 429,281,000 | 496,995,000 | 395,376,000 | 528,448,000 | 294,732,000 | 330,800,000 | ||||||||||
yoy | 16.96% | 18.46% | 21.25% | 20.33% | 18.62% | 21.77% | 19.21% | 23.00% | 13.92% | 16.70% | 44.94% | 52.44% | 63.72% | 61.86% | 70.26% | -13.00% | -27.77% | 0.67% | -15.33% | 39.89% | 67.86% | 19.80% | 17.60% | 30.51% | -4.66% | -73.73% | 106150241.69% | -7.19% | 5.88% | 446713183.80% | -100.00% | 128985407.25% | 142818328.18% | -100.00% | 104178172.98% | -10.85% | -100.00% | 186.01% | -100.00% | -100.00% | -47.28% | -39.79% | -9.93% | -45.37% | -16.00% | -43.92% | 68.63% | 19.52% | ||||||||||||||||||
qoq | 1.58% | -0.73% | 11.82% | 3.71% | 2.88% | 1.61% | 10.98% | 2.24% | 5.62% | -0.52% | 14.50% | -5.30% | 8.20% | 23.54% | 20.43% | 1.71% | 6.97% | 29.96% | -38.46% | -15.57% | 49.08% | 9.31% | 1.67% | 1.32% | 6.40% | 7.30% | 12.83% | -25.99% | -70.68% | 433484772.21% | -100.00% | -15.56% | 123708820.19% | -100.00% | 108405697.10% | -6.50% | -100.00% | 136211599.16% | -7.24% | -100.00% | 0.60% | -44.72% | -12.85% | 8.78% | 14.90% | -18.25% | 12.07% | -30.97% | -13.62% | 25.70% | -25.18% | -10.90% | ||||||||||||||
non-interest expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
execution, clearing and distribution fees | 106,000,000 | 91,000,000 | 92,000,000 | 116,000,000 | 121,000,000 | 115,000,000 | 116,000,000 | 115,000,000 | 101,000,000 | 100,000,000 | 98,000,000 | 93,000,000 | 95,000,000 | 90,000,000 | 86,000,000 | 77,000,000 | 71,000,000 | 53,000,000 | 61,000,000 | 54,000,000 | 68,000,000 | 66,000,000 | 74,000,000 | 76,000,000 | 77,000,000 | 59,000,000 | 68,000,000 | 63,000,000 | 61,000,000 | 268,999,804 | 57 | |||||||||||||||||||||||||||||||||||
employee compensation and benefits | 167,000,000 | 153,000,000 | 156,000,000 | 163,000,000 | 154,000,000 | 138,000,000 | 145,000,000 | 146,000,000 | 145,000,000 | 136,000,000 | 127,000,000 | 136,000,000 | 128,000,000 | 119,000,000 | 112,000,000 | 112,000,000 | 111,000,000 | 108,000,000 | 98,000,000 | 96,000,000 | 97,000,000 | 86,000,000 | 77,000,000 | 82,000,000 | 80,000,000 | 53,250,000 | 67,000,000 | 75,000,000 | 71,000,000 | 263,999,799 | 63 | 68,000,000 | 70,000,000 | 64 | 62,000,000 | 58 | 58 | 58,000,000 | 56 | 58 | 57,000,000 | 49,408,000 | 53,589,000 | 53,486,000 | 44,242,000 | 58,018,000 | 46,318,000 | 57,676,000 | 59,801,000 | 62,725,000 | 56,157,000 | 52,651,000 | 52,359,000 | 49,613,000 | 49,578,000 | 50,458,000 | 43,015,000 | 42,500,000 | 42,822,000 | 38,575,000 | 39,549,000 | 38,502,000 | 41,374,000 | 28,880,000 | 32,800,000 | |
occupancy, depreciation and amortization | 27,000,000 | 25,000,000 | 24,000,000 | 24,000,000 | 24,000,000 | 24,000,000 | 26,000,000 | 25,000,000 | 26,000,000 | 25,000,000 | 25,000,000 | 25,000,000 | 24,000,000 | 22,000,000 | 23,000,000 | 23,000,000 | 22,000,000 | 22,000,000 | 19,000,000 | 19,000,000 | 20,000,000 | 18,000,000 | 17,000,000 | 17,000,000 | 17,000,000 | 10,750,000 | 15,000,000 | 14,000,000 | 14,000,000 | 48,999,965 | 12 | 11,000,000 | 12,000,000 | 11 | 13,000,000 | 13 | 13 | 12,000,000 | 12 | 11 | 10,000,000 | 9,393,000 | 9,693,000 | 9,819,000 | 9,387,000 | 9,249,000 | 10,069,000 | 9,043,000 | 9,957,000 | 9,934,000 | 8,984,000 | 9,059,000 | 9,246,000 | 9,197,000 | 9,148,000 | 9,204,000 | 10,008,000 | 9,900,000 | 9,561,000 | 10,053,000 | 10,506,000 | 8,616,000 | 8,525,000 | 6,461,000 | 6,000,000 | |
communications | 12,000,000 | 11,000,000 | 11,000,000 | 11,000,000 | 10,000,000 | 10,000,000 | 9,000,000 | 10,000,000 | 10,000,000 | 12,000,000 | 10,000,000 | 10,000,000 | 9,000,000 | 8,000,000 | 8,000,000 | 9,000,000 | 8,000,000 | 9,000,000 | 8,000,000 | 8,000,000 | 8,000,000 | 7,000,000 | 6,000,000 | 7,000,000 | 6,000,000 | 4,750,000 | 7,000,000 | 6,000,000 | 6,000,000 | 24,999,980 | 7 | 7,000,000 | 6,000,000 | 7 | 8,000,000 | 7 | 9 | 7,000,000 | 6 | 7 | 6,000,000 | 5,975,000 | 6,185,000 | 6,002,000 | 6,125,000 | 5,703,000 | 5,453,000 | 6,089,000 | 5,486,000 | 5,674,000 | 5,736,000 | 6,665,000 | 5,448,000 | 5,834,000 | 6,322,000 | 5,402,000 | 6,105,000 | 5,500,000 | 5,001,000 | 5,361,000 | 4,769,000 | 4,575,000 | 3,995,000 | 3,471,000 | 3,400,000 | |
general and administrative | 68,000,000 | 62,000,000 | 62,000,000 | 61,000,000 | 62,000,000 | 59,000,000 | 153,000,000 | 52,000,000 | 50,000,000 | 45,000,000 | 45,000,000 | 85,000,000 | 36,000,000 | 48,000,000 | 37,000,000 | 42,000,000 | 38,000,000 | 38,000,000 | 44,000,000 | 35,000,000 | 59,000,000 | 30,000,000 | 37,000,000 | 132,000,000 | 37,000,000 | 20,000,000 | 30,000,000 | 26,000,000 | 24,000,000 | 95,999,930 | 25 | 22,000,000 | 23,000,000 | 15 | 16,000,000 | 19 | 14 | 13,000,000 | 13 | 13 | 16,000,000 | 14,665,000 | 13,989,000 | 13,247,000 | 14,100,000 | 12,333,000 | 12,471,000 | 11,525,000 | 10,966,000 | 11,288,000 | 14,812,000 | 13,347,000 | 12,626,000 | 10,669,000 | 13,530,000 | 10,905,000 | 9,675,000 | 11,200,000 | 10,867,000 | 27,640,000 | 11,869,000 | 10,349,000 | 13,442,000 | 9,893,000 | 8,100,000 | |
customer bad debt | 1,000,000 | -2,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 7,000,000 | 2,000,000 | 5,000,000 | 5,000,000 | -1,000,000 | 3,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 3,000,000 | 3,000,000 | 7,000,000 | -1,000,000 | -2,000,000 | 4,000,000 | 43,000,000 | 3,999,998 | 3,000,000 | 1,000,000 | 3 | 3 | 7 | 139,000,000 | ||||||||||||||||||||||||||||||||||||
total non-interest expenses | 381,000,000 | 343,000,000 | 343,000,000 | 376,000,000 | 372,000,000 | 347,000,000 | 456,000,000 | 350,000,000 | 337,000,000 | 323,000,000 | 305,000,000 | 348,000,000 | 295,000,000 | 287,000,000 | 267,000,000 | 264,000,000 | 251,000,000 | 230,000,000 | 230,000,000 | 213,000,000 | 254,000,000 | 207,000,000 | 214,000,000 | 317,000,000 | 224,000,000 | 188,000,000 | 185,000,000 | 188,000,000 | 219,000,000 | 706,999,476 | 163 | 174,000,000 | 187,000,000 | 158 | 161,000,000 | 162 | 156 | 152,000,000 | 157 | 147 | 283,000,000 | 131,593,000 | 135,090,000 | 136,764,000 | 129,870,000 | 150,030,000 | 138,225,000 | 139,900,000 | 129,394,000 | 160,285,000 | 149,605,000 | 136,015,000 | 154,495,000 | 130,079,000 | 140,500,000 | |||||||||||
income before income taxes | 1,288,000,000 | 1,300,000,000 | 1,312,000,000 | 1,104,000,000 | 1,055,000,000 | 1,040,000,000 | 909,000,000 | 880,000,000 | 866,000,000 | 816,000,000 | 840,000,000 | 652,000,000 | 761,000,000 | 689,000,000 | 523,000,000 | 392,000,000 | 394,000,000 | 373,000,000 | 234,000,000 | 541,000,000 | 639,000,000 | 392,000,000 | 334,000,000 | 222,000,000 | 308,000,000 | 312,000,000 | 281,000,000 | 225,000,000 | 339,000,000 | 1,195,999,113 | 276 | 271,000,000 | 340,000,000 | 268 | 213,000,000 | 183 | 213 | 337,000,000 | 202 | 240 | -111,000,000 | 39,381,000 | 174,209,000 | 218,144,000 | 196,382,000 | 133,926,000 | 82,223,000 | 172,620,000 | 108,507,000 | 149,677,000 | 217,757,000 | 149,144,000 | 221,972,000 | 161,920,000 | 72,076,000 | 64,913,000 | 133,267,000 | 192,200,000 | 166,947,000 | |||||||
income tax expense | 117,000,000 | 99,000,000 | 126,000,000 | 98,000,000 | 91,000,000 | 71,000,000 | 75,000,000 | 71,000,000 | 71,000,000 | 77,000,000 | 68,000,000 | 51,000,000 | 61,000,000 | 56,000,000 | 40,000,000 | 32,000,000 | 28,000,000 | 35,000,000 | 28,000,000 | 35,000,000 | 53,000,000 | 12,000,000 | 32,000,000 | 15,000,000 | 18,000,000 | 18,000,000 | 20,000,000 | 15,000,000 | 15,000,000 | 70,999,948 | 18 | 13,000,000 | 21,000,000 | 21 | 18,000,000 | 15 | 13 | 27,000,000 | 20 | 19 | 7,691,000 | 13,451,000 | 16,950,000 | 10,414,000 | 13,890,000 | 6,935,000 | 14,747,000 | 10,977,000 | 8,734,000 | 15,270,000 | 12,496,000 | 18,732,000 | 13,201,000 | 7,308,000 | 5,226,000 | 13,168,000 | 25,300,000 | 11,832,000 | 34,010,000 | 32,384,000 | 28,593,000 | 33,413,000 | 5,504,000 | |||
net income | 1,171,000,000 | 1,201,000,000 | 1,186,000,000 | 1,006,000,000 | 964,000,000 | 969,000,000 | 834,000,000 | 809,000,000 | 795,000,000 | 739,000,000 | 772,000,000 | 601,000,000 | 700,000,000 | 633,000,000 | 483,000,000 | 360,000,000 | 366,000,000 | 338,000,000 | 206,000,000 | 506,000,000 | 586,000,000 | 380,000,000 | 302,000,000 | 207,000,000 | 290,000,000 | 294,000,000 | 261,000,000 | 210,000,000 | 324,000,000 | 1,124,999,165 | 258 | 258,000,000 | 319,000,000 | 247 | 195,000,000 | 168 | 200 | 310,000,000 | 182 | 221 | -109,000,000 | 31,690,000 | 160,758,000 | 201,194,000 | 185,968,000 | 120,036,000 | 75,288,000 | 157,873,000 | 97,530,000 | 140,943,000 | 202,487,000 | 136,648,000 | 203,240,000 | 148,719,000 | 64,768,000 | 59,687,000 | 120,099,000 | 166,900,000 | 155,115,000 | 20,314,000 | 27,147,000 | 18,348,000 | 27,191,000 | 75,143,000 | 184,200,000 | |
yoy | 21.47% | 23.94% | 42.21% | 24.35% | 21.26% | 31.12% | 8.03% | 34.61% | 13.57% | 16.75% | 59.83% | 66.94% | 91.26% | 87.28% | 134.47% | -28.85% | -37.54% | -11.05% | -31.79% | 144.44% | 102.07% | 29.25% | 15.71% | -1.43% | -10.49% | -73.87% | 101162690.70% | -18.60% | 1.57% | 455465148.99% | -100.00% | 153571328.57% | 159499900.00% | -100.00% | 107142757.14% | -23.98% | -100.00% | 878.23% | -100.00% | -100.00% | -158.61% | -73.60% | 113.52% | 27.44% | 90.68% | -14.83% | -62.82% | 15.53% | -52.01% | -5.23% | 212.63% | 128.94% | 69.23% | -10.89% | -58.25% | 193.82% | 342.40% | 809.64% | 470.46% | -63.87% | -90.04% | |||||
qoq | -2.50% | 1.26% | 17.89% | 4.36% | -0.52% | 16.19% | 3.09% | 1.76% | 7.58% | -4.27% | 28.45% | -14.14% | 10.58% | 31.06% | 34.17% | -1.64% | 8.28% | 64.08% | -59.29% | -13.65% | 54.21% | 25.83% | 45.89% | -28.62% | -1.36% | 12.64% | 24.29% | -35.19% | -71.20% | 436046087.98% | -100.00% | -19.12% | 129149697.57% | -100.00% | 116071328.57% | -16.00% | -100.00% | 170329570.33% | -17.65% | -100.00% | -443.96% | -80.29% | -20.10% | 8.19% | 54.93% | 59.44% | -52.31% | 61.87% | -30.80% | -30.39% | 48.18% | -32.77% | 36.66% | 129.62% | 8.51% | -50.30% | -28.04% | 7.60% | 663.59% | -25.17% | 47.96% | -32.52% | -59.21% | |||
net income margin % | 70.16% | 73.10% | 71.66% | 67.97% | 67.55% | 69.86% | 61.10% | 65.77% | 66.08% | 64.88% | 67.42% | 60.10% | 66.29% | 64.86% | 61.14% | 54.88% | 56.74% | 56.05% | 44.40% | 67.11% | 65.62% | 63.44% | 55.11% | 38.40% | 54.51% | 58.80% | 56.01% | 50.85% | 58.06% | 59.12% | 58.77% | 57.98% | 60.53% | 57.98% | 52.14% | 48.70% | 54.20% | 63.39% | 50.70% | 57.11% | -63.37% | 18.53% | 51.97% | 56.69% | 57.00% | 42.27% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 49.72% | Infinity% | Infinity% | 44.24% | 50.26% | 52.34% | 4.73% | 5.46% | 4.64% | 5.15% | NaN% | 25.50% | 55.68% |
less net income attributable to noncontrolling interests | 904,000,000 | 917,000,000 | 923,000,000 | 782,000,000 | 751,000,000 | 752,000,000 | 650,000,000 | 630,000,000 | 620,000,000 | 579,000,000 | 605,000,000 | 476,000,000 | 552,000,000 | 497,000,000 | 384,000,000 | 288,000,000 | 293,000,000 | 271,000,000 | 164,000,000 | 414,000,000 | 479,000,000 | 309,000,000 | 256,000,000 | 175,000,000 | 244,000,000 | 250,000,000 | 225,000,000 | 178,000,000 | 275,000,000 | 955,999,291 | 219 | 217,000,000 | 273,000,000 | 216 | 171,000,000 | 148 | 173 | 277,000,000 | 160 | 198 | -96,000,000 | 28,499,000 | 145,597,000 | 182,105,000 | 169,521,000 | 109,658,000 | 68,731,000 | 145,385,000 | 89,546,000 | |||||||||||||||||
net income available for common stockholders | 267,000,000 | 284,000,000 | 263,000,000 | 224,000,000 | 213,000,000 | 217,000,000 | 184,000,000 | 179,000,000 | 175,000,000 | 160,000,000 | 167,000,000 | 125,000,000 | 148,000,000 | 136,000,000 | 99,000,000 | 72,000,000 | 73,000,000 | 67,000,000 | 42,000,000 | 92,000,000 | 107,000,000 | 71,000,000 | 46,000,000 | 32,000,000 | 46,000,000 | 44,000,000 | 36,000,000 | 32,000,000 | 49,000,000 | 168,999,874 | 39 | 41,000,000 | 46,000,000 | 31 | 24,000,000 | 20 | 27 | 33,000,000 | 22 | 23 | -13,000,000 | 3,191,000 | 15,161,000 | 19,089,000 | 7,984,000 | 11,084,000 | 22,494,000 | 9,561,000 | 16,251,000 | 11,036,000 | 3,840,000 | 3,891,000 | 8,410,000 | 12,622,000 | 18,171.5 | 27,147 | 18,348 | 7,006 | ||||||||
earnings per share | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.6 | 0.64 | 0.59 | 0.51 | 1.95 | 2.01 | 1.68 | 1.67 | 1.63 | 1.5 | 1.57 | 1.21 | 1.44 | 1.33 | 0.98 | 0.73 | 0.74 | 0.67 | 0.44 | 1.01 | 1.18 | 0.84 | 0.59 | 0.41 | 0.6 | 0.57 | 0.46 | 0.43 | 0.65 | 0.57 | 0.52 | 0.57 | 0.64 | 0.44 | 0.35 | 0.3 | 0.41 | 0.52 | 0.35 | 0.38 | -0.22 | 0.06 | 0.27 | 0.35 | 0.33 | 0.21 | 0.14 | 0.26 | 0.17 | 0.24 | 0.5 | 0.22 | 0.38 | 0.26 | 0.09 | 0.09 | 0.2 | 0.31 | 0.31 | 0.45 | 0.67 | 0.45 | 0.68 | 0.17 | 0.31 | |
diluted | 0.59 | 0.64 | 0.59 | 0.51 | 1.94 | 1.99 | 1.67 | 1.65 | 1.61 | 1.48 | 1.56 | 1.2 | 1.42 | 1.32 | 0.97 | 0.72 | 0.74 | 0.66 | 0.43 | 1 | 1.16 | 0.84 | 0.58 | 0.4 | 0.6 | 0.58 | 0.45 | 0.43 | 0.64 | 0.57 | 0.51 | 0.57 | 0.63 | 0.43 | 0.34 | 0.3 | 0.4 | 0.51 | 0.35 | 0.37 | -0.22 | 0.05 | 0.26 | 0.34 | 0.32 | 0.21 | 0.14 | 0.26 | 0.17 | 0.24 | 0.5 | 0.22 | 0.38 | 0.26 | 0.09 | 0.09 | 0.2 | 0.31 | 0.3 | 0.44 | 0.65 | 0.44 | 0.66 | 0.17 | 0.31 | |
weighted-average common shares outstanding | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 445,448,291 | 440,931,909 | 444,060,813 | 438,457,863 | 108,923,381 | 108,112,199 | 108,757,991 | 107,719,020 | 107,070,830 | 104,965,050 | 106,233,557 | 103,587,557 | 102,958,660 | 100,460,016 | 101,818,667 | 98,853,981 | 98,226,147 | 94,167,572 | 96,229,958 | 91,365,234 | 90,789,321 | 79,939,289 | 78,509,625 | 77,357,609 | 76,751,168 | 76,121,570 | 76,742,789 | 75,868,349 | 75,101,062 | 73,438,209 | 74,649,469 | 72,476,729 | 71,475,950 | 71,109,577 | 67,985,107 | 67,083,654 | 64,967,364 | 63,985,477 | 62,458,655 | 59,481,778 | 58,473,348 | 57,099,052 | 56,079,813 | 54,664,225 | 49,966,050 | 48,929,348 | 47,499,898 | 47,488,459 | 46,686,269 | 45,576,925 | 44,832,545 | 43,018,095 | 42,231,651 | 42,222,449 | 41,802,541 | 41,216,879 | 41,214,598 | 40,916,760 | 40,536,715 | 40,602,515 | 40,410,989 | 40,143,860 | 40,153,606 | 40,188,053 | 40,000,100 | |
diluted | 448,369,291 | 443,859,546 | 446,528,983 | 441,439,924 | 109,865,741 | 109,002,938 | 109,536,360 | 108,626,836 | 108,149,440 | 105,846,877 | 107,011,427 | 104,463,729 | 104,042,571 | 101,299,609 | 102,555,482 | 99,695,489 | 99,224,776 | 95,009,880 | 96,989,968 | 92,199,169 | 91,766,142 | 80,638,908 | 79,120,548 | 78,031,462 | 77,568,464 | 76,825,863 | 77,348,976 | 76,594,934 | 75,977,511 | 74,266,370 | 75,360,089 | 73,329,496 | 72,512,462 | 71,973,483 | 69,157,614 | 68,470,224 | 66,470,913 | 65,255,903 | 64,028,731 | 61,038,926 | 58,473,348 | 58,220,070 | 57,300,230 | 56,041,282 | 50,988,214 | 49,012,567 | 47,688,314 | 47,679,818 | 46,957,081 | 45,951,464 | 45,208,557 | 43,470,928 | 42,791,822 | 42,784,799 | 42,441,995 | 41,966,053 | 41,973,518 | 41,758,253 | 399,045,731 | 399,112,085 | 400,148,064 | 401,292,908 | 401,327,844 | 401,363,708 | 401,257,739 | |
comprehensive income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cumulative translation adjustment, before income taxes | -21 | 4 | -10 | 79 | 28 | -64 | 39 | -2 | -26 | 37 | -19 | 7 | 5 | 38 | -30 | -24 | -10 | -1 | -9 | 5 | -17 | 21 | 8 | 4 | -7 | -0.75 | -6 | 4 | -14 | 1 | 1 | 4 | 6 | 4 | -11,037 | 1,539 | 491 | 3,691 | ||||||||||||||||||||||||||||
income taxes related to items of other comprehensive income | -252 | 61 | 123 | 61 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income, net of tax | -21 | 4 | -10 | 79 | 28 | -64 | 39 | -2 | -26 | 7 | 5 | 38 | -30 | -24 | -10 | -1 | -9 | 5 | 21 | 8 | 4 | -7 | -0.75 | -6 | 4 | -13 | 1 | 1 | 4 | 6 | 4 | -10,785 | 1,478 | 368 | 3,630 | 1,894 | 2,626 | 3,837 | ||||||||||||||||||||||||||||
comprehensive income available for common stockholders | 246 | 288 | 253 | 303 | 241 | 153 | 223 | 177 | 149 | 197 | 148 | 132 | 153 | 174 | 69 | 48 | 63 | 66 | 33 | 97 | 90 | 92 | 54 | 36 | 39 | 51 | 30 | 36 | 48 | 43 | 38 | 28 | 47 | 32 | 28 | 20 | 24 | 39 | 14 | 27 | -14 | -7,594 | 16,639 | 19,457 | 13,710 | 16,089 | 13,398 | |||||||||||||||||||
comprehensive income attributable to noncontrolling interests | 846 | 929 | 895 | 1,009 | 830 | 568 | 764 | 622 | 544 | 690 | 548 | 500 | 566 | 617 | 291 | 207 | 262 | 270 | 133 | 430 | 420 | 383 | 293 | 193 | 213 | 281 | 203 | 190 | 274 | 241 | 217 | 152 | 280 | 221 | 190 | 150 | 157 | 310 | 116 | 222 | -105 | -38,655 | 155,149 | 185,225 | 195,534 | 81,664 | 41,110 | 167,319 | 45,937 | |||||||||||||||||
net income attributable to noncontrolling interests | 904 | 917 | 923 | 782 | 751 | 752 | 650 | 630 | 620 | 579 | 605 | 476 | 552 | 497 | 384 | 288 | 293 | 271 | 164 | 414 | 479 | 309 | 256 | 175 | 244 | 169.5 | 225 | 178 | 275 | 247 | 219 | 217 | 273 | 216 | 171 | 148 | 173 | 277 | 160 | 198 | -96 | 28,499 | 145,597 | 182,105 | 169,521 | 109,658 | 68,731 | 145,385 | 89,546 | |||||||||||||||||
other comprehensive income - cumulative translation adjustment | -58 | 12 | -28 | 227 | 79 | -184 | 114 | -8 | -76 | 111 | -57 | 24 | 14 | 120 | -93 | -81 | -31 | -1 | -31 | 16 | -59 | 74 | 37 | 18 | -31 | -2.75 | -22 | 12 | -6 | -65 | 7 | 5 | 19 | 2 | -16 | 33 | -44 | 24 | -67,154 | 9,552 | 3,120 | 26,013 | 21,934 | 31,551 | 50,144 | |||||||||||||||||||||
other comprehensive loss, net of tax | -1.75 | -19 | -17 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading gains | 7,000,000 | 7,000,000 | 6,000,000 | 7,000,000 | 38,999,968 | 7 | 12,000,000 | 13,000,000 | 11 | 2,000,000 | 38 | 34 | 52,000,000 | 87 | 67 | 62,000,000 | -75,693,000 | 84,020,000 | 127,512,000 | 123,286,000 | 59,106,000 | 18,994,000 | 149,700,000 | 85,007,000 | 137,280,000 | 193,778,000 | 120,569,000 | 200,338,000 | 168,675,000 | 77,640,000 | 80,574,000 | 154,709,000 | 223,600,000 | 180,454,000 | 297,993,000 | 361,403,000 | 265,964,000 | 378,640,000 | 150,298,000 | 198,800,000 | ||||||||||||||||||||||||||
total revenues | 631,000,000 | 643,000,000 | 586,000,000 | 720,000,000 | 2,365,998,268 | 558 | 553,000,000 | 621,000,000 | 487 | 409,000,000 | 366 | 387 | 507,000,000 | 375 | 405 | 187,000,000 | 195,104,000 | 321,241,000 | 369,194,000 | 338,443,000 | 297,530,000 | 315,097,000 | 286,665,000 | 354,900,000 | 312,525,000 | 474,779,000 | 567,814,000 | 497,921,000 | 641,586,000 | 438,279,000 | 464,300,000 | |||||||||||||||||||||||||||||||||||
execution and clearing | 66,000,000 | 73,000,000 | 61 | 61,000,000 | 62 | 59 | 62,000,000 | 63 | 59 | 55,000,000 | 52,152,000 | 51,634,000 | 54,210,000 | 56,016,000 | 64,727,000 | 59,540,000 | 61,646,000 | 66,171,000 | 64,624,000 | 82,080,000 | 66,074,000 | 66,237,000 | 61,905,000 | 75,482,000 | 69,688,000 | 69,422,000 | 70,800,000 | 61,143,000 | 78,656,000 | 82,912,000 | 73,973,000 | 87,159,000 | 81,374,000 | 90,200,000 | ||||||||||||||||||||||||||||||||
commissions and execution fees | 154,000,000 | 144 | 152 | 166,000,000 | 167 | 157 | 149,000,000 | 132,539,000 | 124,351,000 | 136,641,000 | 120,331,000 | 138,092,000 | 119,538,000 | 100,584,000 | 108,071,000 | 100,885,000 | 130,665,000 | 106,432,000 | 109,199,000 | 90,144,000 | 107,519,000 | 91,733,000 | 89,007,000 | 90,200,000 | 84,264,000 | 87,649,000 | 98,114,000 | 85,490,000 | 88,247,000 | 60,285,000 | 56,300,000 | |||||||||||||||||||||||||||||||||||
revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-interest expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
earnings per share: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 0.6 | 0.64 | 0.59 | 0.51 | 1.95 | 2.01 | 1.68 | 1.67 | 1.63 | 1.5 | 1.57 | 1.21 | 1.44 | 1.33 | 0.98 | 0.73 | 0.74 | 0.67 | 0.44 | 1.01 | 1.18 | 0.84 | 0.59 | 0.41 | 0.6 | 0.57 | 0.46 | 0.43 | 0.65 | 0.57 | 0.52 | 0.57 | 0.64 | 0.44 | 0.35 | 0.3 | 0.41 | 0.52 | 0.35 | 0.38 | -0.22 | 0.06 | 0.27 | 0.35 | 0.33 | 0.21 | 0.14 | 0.26 | 0.17 | 0.24 | 0.5 | 0.22 | 0.38 | 0.26 | 0.09 | 0.09 | 0.2 | 0.31 | 0.31 | 0.45 | 0.67 | 0.45 | 0.68 | 0.17 | 0.31 | |
diluted | 0.59 | 0.64 | 0.59 | 0.51 | 1.94 | 1.99 | 1.67 | 1.65 | 1.61 | 1.48 | 1.56 | 1.2 | 1.42 | 1.32 | 0.97 | 0.72 | 0.74 | 0.66 | 0.43 | 1 | 1.16 | 0.84 | 0.58 | 0.4 | 0.6 | 0.58 | 0.45 | 0.43 | 0.64 | 0.57 | 0.51 | 0.57 | 0.63 | 0.43 | 0.34 | 0.3 | 0.4 | 0.51 | 0.35 | 0.37 | -0.22 | 0.05 | 0.26 | 0.34 | 0.32 | 0.21 | 0.14 | 0.26 | 0.17 | 0.24 | 0.5 | 0.22 | 0.38 | 0.26 | 0.09 | 0.09 | 0.2 | 0.31 | 0.3 | 0.44 | 0.65 | 0.44 | 0.66 | 0.17 | 0.31 | |
weighted-average common shares outstanding: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
basic | 445,448,291 | 440,931,909 | 444,060,813 | 438,457,863 | 108,923,381 | 108,112,199 | 108,757,991 | 107,719,020 | 107,070,830 | 104,965,050 | 106,233,557 | 103,587,557 | 102,958,660 | 100,460,016 | 101,818,667 | 98,853,981 | 98,226,147 | 94,167,572 | 96,229,958 | 91,365,234 | 90,789,321 | 79,939,289 | 78,509,625 | 77,357,609 | 76,751,168 | 76,121,570 | 76,742,789 | 75,868,349 | 75,101,062 | 73,438,209 | 74,649,469 | 72,476,729 | 71,475,950 | 71,109,577 | 67,985,107 | 67,083,654 | 64,967,364 | 63,985,477 | 62,458,655 | 59,481,778 | 58,473,348 | 57,099,052 | 56,079,813 | 54,664,225 | 49,966,050 | 48,929,348 | 47,499,898 | 47,488,459 | 46,686,269 | 45,576,925 | 44,832,545 | 43,018,095 | 42,231,651 | 42,222,449 | 41,802,541 | 41,216,879 | 41,214,598 | 40,916,760 | 40,536,715 | 40,602,515 | 40,410,989 | 40,143,860 | 40,153,606 | 40,188,053 | 40,000,100 | |
diluted | 448,369,291 | 443,859,546 | 446,528,983 | 441,439,924 | 109,865,741 | 109,002,938 | 109,536,360 | 108,626,836 | 108,149,440 | 105,846,877 | 107,011,427 | 104,463,729 | 104,042,571 | 101,299,609 | 102,555,482 | 99,695,489 | 99,224,776 | 95,009,880 | 96,989,968 | 92,199,169 | 91,766,142 | 80,638,908 | 79,120,548 | 78,031,462 | 77,568,464 | 76,825,863 | 77,348,976 | 76,594,934 | 75,977,511 | 74,266,370 | 75,360,089 | 73,329,496 | 72,512,462 | 71,973,483 | 69,157,614 | 68,470,224 | 66,470,913 | 65,255,903 | 64,028,731 | 61,038,926 | 58,473,348 | 58,220,070 | 57,300,230 | 56,041,282 | 50,988,214 | 49,012,567 | 47,688,314 | 47,679,818 | 46,957,081 | 45,951,464 | 45,208,557 | 43,470,928 | 42,791,822 | 42,784,799 | 42,441,995 | 41,966,053 | 41,973,518 | 41,758,253 | 399,045,731 | 399,112,085 | 400,148,064 | 401,292,908 | 401,327,844 | 401,363,708 | 401,257,739 | |
comprehensive income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other comprehensive income: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable to noncontrolling interests: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to common stockholders | 16,447,000 | 10,378,000 | 6,557,000 | 12,488,000 | 7,984 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable to common stockholders | 20,077 | 6,774 | 2,815 | 14,382 | 4,278 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
see accompanying notes to the unaudited condensed consolidated financial statements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less net income attributable to non-controlling interests | 129,859,000 | 179,993,000 | 127,087,000 | 186,989,000 | 137,683,000 | 60,928,000 | 55,796,000 | 111,689,000 | 142,493,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable to non-controlling interests: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income attributable to non-controlling interests | 129,859 | 179,993 | 127,087 | 154,100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
comprehensive income attributable to non-controlling interests | 161,410 | 104,048 | 177,231 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income available for common shareholders | 12,800,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before income taxes and minority interest | 268,996,000 | 347,390,000 | 259,361,000 | 373,953,000 | 164,653,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
minority interest subsequent to may 3, 2007 | 203,407,000 | 287,859,000 | 212,420,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income and earnings per share for periods subsequent to may 3, 2007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income and earning per share for periods subsequent to may 3, 2007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income and earnings per share for the period from may 4, 2007 through june 30, 2007: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
statement of income data: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before income tax | 190,300,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax expense, | 6,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
less — minority interest |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-09-30 | 2016-06-30 | 2015-09-30 | 2015-06-30 | 2015-03-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2011-06-30 | 2011-03-31 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-09-30 | 2009-03-31 | 2008-03-31 | 2007-12-31 | 2007-06-30 | 2007-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | 4,963,000,000 | 5,128,000,000 | 4,688,000,000 | 3,500,000,000 | 3,633,000,000 | 3,595,000,000 | 3,918,000,000 | 4,063,000,000 | 3,753,000,000 | 3,824,000,000 | 3,681,000,000 | 3,214,000,000 | 3,436,000,000 | 3,184,000,000 | 2,881,000,000 | 2,667,000,000 | 2,395,000,000 | 2,838,000,000 | 3,218,000,000 | 2,627,000,000 | 4,292,000,000 | 3,292,000,000 | 3,115,000,000 | 3,101,000,000 | 2,882,000,000 | 3,035,000,000 | 3,162,000,000 | 2,546,000,000 | 2,597,000,000 | 3,062,000,000 | 2,500,000,000 | 2,056,000,000 | 2,115,000,000 | 1,656,000,000 | 1,550,000,000 | 1,443,000,000 | 1,588,000,000 | 1,041,000,000 | 990,000,000 | 1,010,759,000 | 999,630,000 | 991,439,000 | 1,548,520,000 | 1,414,849,000 | 1,184,868,000 | 1,659,505,000 | 2,003,505,000 | 1,551,399,000 | 1,555,735,000 | 1,422,935,000 | 1,176,160,000 | 1,291,717,000 | 1,111,044,000 | 850,221,000 | 859,935,000 | 703,492,000 | 695,387,000 | 521,776,000 | 868,586,000 | 607,776,000 |
cash - segregated for regulatory purposes | 50,332,000,000 | 48,784,000,000 | 45,057,000,000 | 39,173,000,000 | 36,600,000,000 | 35,216,000,000 | 31,370,000,000 | 29,961,000,000 | 28,840,000,000 | 26,385,000,000 | 24,354,000,000 | 25,167,000,000 | 25,432,000,000 | 23,536,000,000 | 24,581,000,000 | 22,888,000,000 | 23,125,000,000 | 22,099,000,000 | 21,204,000,000 | 15,903,000,000 | 12,789,000,000 | 12,684,000,000 | 14,272,000,000 | 9,400,000,000 | 8,794,000,000 | 8,819,000,000 | 8,043,000,000 | 7,503,000,000 | 7,523,000,000 | 7,686,000,000 | ||||||||||||||||||||||||||||||
securities - segregated for regulatory purposes | 26,521,000,000 | 38,691,000,000 | 36,972,000,000 | 29,394,000,000 | 27,846,000,000 | 31,103,000,000 | 28,318,000,000 | 29,292,000,000 | 35,386,000,000 | 31,335,000,000 | 36,987,000,000 | 31,781,000,000 | 31,301,000,000 | 30,709,000,000 | 24,350,000,000 | 15,121,000,000 | 14,400,000,000 | 15,635,000,000 | 25,069,000,000 | 27,821,000,000 | 29,316,000,000 | 33,450,000,000 | 30,187,000,000 | 17,824,000,000 | 21,246,000,000 | 20,273,000,000 | 18,532,000,000 | 15,595,000,000 | 12,832,000,000 | 13,368,000,000 | ||||||||||||||||||||||||||||||
securities borrowed | 11,589,000,000 | 11,568,000,000 | 10,145,000,000 | 5,845,000,000 | 5,369,000,000 | 7,513,000,000 | 6,218,000,000 | 6,362,000,000 | 5,835,000,000 | 5,478,000,000 | 5,999,000,000 | 5,306,000,000 | 4,749,000,000 | 3,908,000,000 | 3,855,000,000 | 4,445,000,000 | 3,912,000,000 | 3,811,000,000 | 3,630,000,000 | 5,708,000,000 | 4,956,000,000 | 3,995,000,000 | 4,836,000,000 | 3,970,000,000 | 3,916,000,000 | 4,010,000,000 | 4,028,000,000 | 4,196,000,000 | 3,331,000,000 | 3,551,000,000 | 3,588,000,000 | 4,195,000,000 | 3,895,000,000 | 3,923,000,000 | 4,785,000,000 | 3,760,000,000 | 3,384,000,000 | 2,834,000,000 | 2,925,000,000 | 2,955,064,000 | 3,499,241,000 | 2,846,539,000 | 3,363,242,000 | 3,267,014,000 | 3,740,395,000 | 2,966,071,000 | 2,638,992,000 | 3,083,729,000 | 3,385,320,000 | 3,215,552,000 | 3,326,290,000 | 4,667,660,000 | 4,113,231,000 | 6,268,295,000 | 5,206,406,000 | 3,534,592,000 | 6,862,521,000 | 6,862,028,000 | 8,117,883,000 | 10,533,021,000 |
securities purchased under agreements to resell | 7,117,000,000 | 8,524,000,000 | 9,529,000,000 | 8,376,000,000 | 6,575,000,000 | 8,176,000,000 | 6,211,000,000 | 6,674,000,000 | 5,504,000,000 | 5,480,000,000 | 6,431,000,000 | 6,699,000,000 | 6,029,000,000 | 4,860,000,000 | 6,288,000,000 | 6,268,000,000 | 4,380,000,000 | 6,108,000,000 | 4,166,000,000 | 1,692,000,000 | 792,000,000 | 1,401,000,000 | 1,367,000,000 | 910,000,000 | 3,111,000,000 | 1,391,000,000 | 1,302,000,000 | 1,580,000,000 | 1,242,000,000 | 331,000,000 | 533,000,000 | 589,000,000 | 366,000,000 | 112,000,000 | 148,000,000 | 113,000,000 | 215,000,000 | 148,000,000 | 167,000,000 | 273,536,000 | 274,321,000 | 282,748,000 | 487,774,000 | 587,569,000 | 461,942,000 | 344,165,000 | 377,861,000 | 365,229,000 | 463,427,000 | 304,278,000 | 325,004,000 | 397,170,000 | 1,669,776,000 | 449,206,000 | 731,167,000 | 403,890,000 | 35,001,000 | |||
financial instruments owned, at fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financial instruments owned | 4,873,000,000 | 3,028,000,000 | 3,777,000,000 | 3,336,000,000 | 1,847,000,000 | 2,844,000,000 | 1,658,000,000 | 1,050,000,000 | 1,422,000,000 | 744,000,000 | 398,000,000 | 310,000,000 | 396,000,000 | 1,036,000,000 | 367,000,000 | 491,000,000 | 559,000,000 | 582,000,000 | 657,000,000 | 588,000,000 | 544,000,000 | 405,000,000 | 819,000,000 | 1,117,000,000 | 1,755,000,000 | 1,694,000,000 | 971,000,000 | 1,116,000,000 | 1,931,000,000 | 2,276,000,000 | 1,841,000,000 | 1,844,000,000 | 1,649,000,000 | 1,440,000,000 | 2,228,000,000 | 2,580,000,000 | 2,708,000,000 | 2,289,000,000 | 2,043,000,000 | 2,236,853,000 | 2,398,625,000 | 2,605,766,000 | 3,454,897,000 | 3,558,469,000 | 3,822,315,000 | 4,125,971,000 | 7,271,144,000 | 4,125,305,000 | 4,755,718,000 | 7,088,739,000 | 7,224,456,000 | 7,500,378,000 | 9,344,683,000 | 9,801,617,000 | 10,760,416,000 | 11,018,613,000 | 9,284,718,000 | 7,261,800,000 | ||
financial instruments owned and pledged as collateral | 109,000,000 | 99,000,000 | 79,000,000 | 70,000,000 | 77,000,000 | 105,000,000 | 108,000,000 | 62,000,000 | 66,000,000 | 580,000,000 | 97,000,000 | 73,000,000 | 89,000,000 | 57,000,000 | 184,000,000 | 86,000,000 | 114,000,000 | 77,000,000 | 69,000,000 | 52,000,000 | 86,000,000 | 47,000,000 | 70,000,000 | 85,000,000 | 161,000,000 | 189,000,000 | 221,000,000 | 211,000,000 | 188,000,000 | 312,000,000 | 247,000,000 | 736,000,000 | 924,000,000 | 1,583,000,000 | 1,595,000,000 | 1,674,000,000 | 1,133,000,000 | 1,324,000,000 | 1,430,000,000 | 1,159,323,000 | 839,467,000 | 822,434,000 | 970,376,000 | 854,203,000 | 839,994,000 | 2,035,806,000 | 1,613,715,000 | 1,978,158,000 | 1,663,260,000 | 2,124,464,000 | 1,767,681,000 | 1,847,294,000 | 905,848,000 | 975,520,000 | 5,128,916,000 | 5,838,900,000 | 5,597,448,000 | 7,438,086,000 | ||
total financial instruments owned, at fair value | 4,982,000,000 | 3,127,000,000 | 3,856,000,000 | 3,406,000,000 | 1,924,000,000 | 2,949,000,000 | 1,766,000,000 | 1,112,000,000 | 1,488,000,000 | 1,324,000,000 | 495,000,000 | 383,000,000 | 485,000,000 | 1,093,000,000 | 551,000,000 | 577,000,000 | 673,000,000 | 659,000,000 | 726,000,000 | 640,000,000 | 630,000,000 | 452,000,000 | 889,000,000 | 1,202,000,000 | 1,916,000,000 | 1,883,000,000 | 1,192,000,000 | 1,327,000,000 | 2,119,000,000 | 2,588,000,000 | 2,088,000,000 | 2,580,000,000 | 2,573,000,000 | 3,023,000,000 | 3,823,000,000 | 4,254,000,000 | 3,841,000,000 | 3,613,000,000 | 3,473,000,000 | 3,396,176,000 | ||||||||||||||||||||
receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 24 and 25 as of december 31, 2025 and december 31, 2024 | 90,475,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
brokers, dealers, and clearing organizations | 5,161,000,000 | 4,773,000,000 | 4,074,000,000 | 2,495,000,000 | 2,196,000,000 | 2,210,000,000 | 1,810,000,000 | 1,684,000,000 | 1,643,000,000 | 1,726,000,000 | 1,400,000,000 | 1,666,000,000 | 3,321,000,000 | 1,939,000,000 | 2,188,000,000 | |||||||||||||||||||||||||||||||||||||||||||||
interest | 530,000,000 | 488,000,000 | 454,000,000 | 443,000,000 | 446,000,000 | 423,000,000 | 503,000,000 | 437,000,000 | 375,000,000 | 440,000,000 | 391,000,000 | 384,000,000 | 341,000,000 | 224,000,000 | 150,000,000 | 118,000,000 | 127,000,000 | 113,000,000 | 108,000,000 | 116,000,000 | 104,000,000 | 69,000,000 | 81,000,000 | 113,000,000 | 158,000,000 | 131,000,000 | 181,000,000 | 180,000,000 | 141,000,000 | 117,000,000 | 117,000,000 | 72,000,000 | 59,000,000 | 62,000,000 | 66,000,000 | 58,000,000 | 65,000,000 | 49,000,000 | 54,000,000 | 46,325,000 | 32,680,000 | 36,162,000 | 24,236,000 | 23,398,000 | 25,294,000 | 21,266,000 | 22,232,000 | 22,774,000 | 20,785,000 | 14,774,000 | 14,327,000 | 15,525,000 | 13,228,000 | 20,135,000 | 75,562,000 | 85,478,000 | 73,520,000 | 63,657,000 | ||
total receivables | 96,166,000,000 | 82,849,000,000 | 69,874,000,000 | 66,795,000,000 | 67,074,000,000 | 58,639,000,000 | 57,565,000,000 | 53,516,000,000 | 46,490,000,000 | 45,768,000,000 | 43,757,000,000 | 41,541,000,000 | 42,570,000,000 | 43,969,000,000 | 44,641,000,000 | 50,612,000,000 | 58,833,000,000 | 54,654,000,000 | 54,045,000,000 | 46,129,000,000 | 40,691,000,000 | 32,987,000,000 | 27,154,000,000 | 21,740,000,000 | 32,147,000,000 | 26,969,000,000 | 26,770,000,000 | 26,746,000,000 | 27,864,000,000 | 31,876,000,000 | 30,221,000,000 | 26,444,000,000 | 24,056,000,000 | 22,387,000,000 | 19,053,000,000 | 16,546,000,000 | 16,803,000,000 | 20,256,000,000 | 18,506,000,000 | 18,193,106,000 | 16,124,960,000 | 15,351,933,000 | 13,243,298,000 | 12,285,678,000 | 12,017,656,000 | |||||||||||||||
other assets | 1,570,000,000 | 1,551,000,000 | 1,354,000,000 | 1,181,000,000 | 1,121,000,000 | 1,335,000,000 | 1,282,000,000 | 1,258,000,000 | 1,127,000,000 | 1,042,000,000 | 1,003,000,000 | 985,000,000 | 926,000,000 | 936,000,000 | 925,000,000 | 923,000,000 | 911,000,000 | 687,000,000 | 812,000,000 | 695,000,000 | 594,000,000 | 466,000,000 | 470,000,000 | 467,000,000 | 480,000,000 | 476,000,000 | 488,000,000 | 556,000,000 | 296,000,000 | 299,000,000 | 319,000,000 | 413,000,000 | 405,000,000 | 446,000,000 | 455,000,000 | 456,000,000 | 484,000,000 | 505,000,000 | 510,000,000 | 488,267,000 | 499,194,000 | 499,838,000 | 527,867,000 | 553,519,000 | 572,024,000 | 573,298,000 | 566,011,000 | 550,342,000 | 551,823,000 | 495,405,000 | 505,323,000 | 492,759,000 | 500,751,000 | 501,797,000 | 507,825,000 | 515,879,000 | 531,972,000 | 547,494,000 | 415,611,000 | 152,257,000 |
total assets | 203,240,000,000 | 200,222,000,000 | 181,475,000,000 | 157,670,000,000 | 150,142,000,000 | 148,526,000,000 | 136,648,000,000 | 132,238,000,000 | 128,423,000,000 | 120,636,000,000 | 120,593,000,000 | 119,469,000,000 | 115,143,000,000 | 114,683,000,000 | 113,386,000,000 | 114,423,000,000 | 109,113,000,000 | 106,282,000,000 | 104,331,000,000 | 103,764,000,000 | 95,679,000,000 | 84,698,000,000 | 83,965,000,000 | 75,849,000,000 | 71,676,000,000 | 67,804,000,000 | 66,034,000,000 | 63,526,000,000 | 60,547,000,000 | 62,062,000,000 | 60,303,000,000 | 59,843,000,000 | 57,597,000,000 | 56,257,000,000 | 55,064,000,000 | 51,829,000,000 | 47,226,000,000 | 45,159,000,000 | 43,294,000,000 | 41,608,206,000 | 40,155,499,000 | 38,980,376,000 | 36,277,044,000 | 35,056,554,000 | 35,144,104,000 | 33,861,696,000 | 32,383,711,000 | 32,696,398,000 | 33,151,121,000 | 30,640,255,000 | 30,054,599,000 | 29,660,427,000 | 27,481,678,000 | 29,362,208,000 | 28,845,475,000 | 25,135,830,000 | 33,190,623,000 | 34,542,086,000 | 33,544,823,000 | 32,248,688,000 |
liabilities and equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
short-term borrowings | 19,000,000 | 10,000,000 | 8,000,000 | 12,000,000 | 14,000,000 | 33,000,000 | 11,000,000 | 14,000,000 | 17,000,000 | 11,000,000 | 17,000,000 | 10,000,000 | 18,000,000 | 35,000,000 | 17,000,000 | 11,000,000 | 27,000,000 | 28,000,000 | 425,000,000 | 212,000,000 | 118,000,000 | 628,000,000 | 139,000,000 | 14,000,000 | 16,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 17,000,000 | 28,000,000 | 193,000,000 | 38,000,000 | 9,000,000 | 38,000,000 | 24,000,000 | 8,000,000 | 4,000,000 | 9,000,000 | 29,000,000 | 59,362,000 | 15,193,000 | 33,603,000 | 2,579,000 | 12,826,000 | 18,847,000 | 16,870,000 | 13,349,000 | 14,474,000 | 151,834,000 | 42,964,000 | 171,398,000 | 148,087,000 | 150,511,000 | 406,023,000 | 263,343,000 | 248,729,000 | 1,266,535,000 | 1,415,725,000 | 1,246,085,000 | 1,051,486,000 |
securities loaned | 24,751,000,000 | 27,031,000,000 | 21,229,000,000 | 16,894,000,000 | 16,248,000,000 | 16,818,000,000 | 15,682,000,000 | 14,216,000,000 | 11,347,000,000 | 10,482,000,000 | 10,261,000,000 | 10,719,000,000 | 8,940,000,000 | 9,490,000,000 | 10,696,000,000 | 11,379,000,000 | 11,769,000,000 | 10,535,000,000 | 11,580,000,000 | 11,867,000,000 | 9,838,000,000 | 5,738,000,000 | 5,856,000,000 | 4,044,000,000 | 4,410,000,000 | 3,955,000,000 | 4,101,000,000 | 4,250,000,000 | 4,037,000,000 | 3,834,000,000 | 4,091,000,000 | 4,132,000,000 | 3,632,000,000 | 3,967,000,000 | 3,617,000,000 | 3,270,000,000 | 2,724,000,000 | 3,141,000,000 | 3,105,000,000 | 3,116,395,000 | 2,932,404,000 | 2,931,222,000 | 2,193,008,000 | 2,468,303,000 | 2,198,766,000 | 1,945,097,000 | 1,858,742,000 | 1,768,117,000 | 1,572,403,000 | 1,757,467,000 | 1,518,270,000 | 1,610,546,000 | 1,410,167,000 | 1,360,707,000 | 806,946,000 | 733,358,000 | 4,827,701,000 | 4,968,863,000 | 5,184,986,000 | 7,003,580,000 |
financial instruments sold, but not yet purchased, at fair value | 740,000,000 | 499,000,000 | 494,000,000 | 252,000,000 | 293,000,000 | 381,000,000 | 473,000,000 | 236,000,000 | 193,000,000 | 198,000,000 | 157,000,000 | 190,000,000 | 146,000,000 | 411,000,000 | 218,000,000 | 190,000,000 | 182,000,000 | 233,000,000 | 191,000,000 | 191,000,000 | 153,000,000 | 187,000,000 | 234,000,000 | 161,000,000 | 457,000,000 | 977,000,000 | 357,000,000 | 255,000,000 | 681,000,000 | 915,000,000 | 630,000,000 | 1,177,000,000 | 974,000,000 | 1,366,000,000 | 2,459,000,000 | 2,874,000,000 | 3,052,000,000 | 2,183,000,000 | 2,238,000,000 | 2,649,664,000 | ||||||||||||||||||||
payables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers | 154,336,000,000 | 149,442,000,000 | 138,417,000,000 | 120,654,000,000 | 115,343,000,000 | 112,579,000,000 | 103,373,000,000 | 101,197,000,000 | 101,012,000,000 | 94,873,000,000 | 95,999,000,000 | 94,897,000,000 | 93,195,000,000 | 92,594,000,000 | 90,765,000,000 | 91,097,000,000 | 85,634,000,000 | 84,087,000,000 | 81,452,000,000 | 81,204,000,000 | 75,882,000,000 | 68,830,000,000 | 68,796,000,000 | 62,739,000,000 | 56,248,000,000 | 54,474,000,000 | 53,054,000,000 | 50,742,000,000 | 47,993,000,000 | 49,823,000,000 | 48,239,000,000 | 47,550,000,000 | 45,950,000,000 | 44,301,000,000 | 42,486,000,000 | 39,319,000,000 | 35,315,000,000 | 33,837,000,000 | 32,225,000,000 | 29,966,079,000 | 28,411,102,000 | 26,975,572,000 | 24,809,349,000 | 22,954,891,000 | 23,060,902,000 | 19,237,660,000 | 17,277,054,000 | 18,158,887,000 | 17,408,847,000 | 13,413,166,000 | 11,977,488,000 | 12,031,208,000 | 9,971,204,000 | 7,636,317,000 | 7,489,834,000 | 7,630,703,000 | 5,740,710,000 | 1,081,663,000 | ||
affiliate | 217,000,000 | 215,000,000 | 180,000,000 | 195,000,000 | 195,000,000 | 185,000,000 | 192,000,000 | 206,000,000 | 210,000,000 | 212,000,000 | 189,000,000 | 214,000,000 | 214,000,000 | 220,000,000 | 202,000,000 | 222,000,000 | 222,000,000 | 240,000,000 | 199,000,000 | 199,000,000 | 199,000,000 | 129,000,000 | 123,000,000 | 139,000,000 | 152,000,000 | 141,000,000 | 171,000,000 | 171,000,000 | 171,000,000 | 171,000,000 | 159,000,000 | 281,000,000 | 286,000,000 | 285,000,000 | 285,000,000 | 274,000,000 | 287,000,000 | 277,000,000 | 277,000,000 | |||||||||||||||||||||
accounts payable, accrued expenses and other liabilities | 818,000,000 | 793,000,000 | 664,000,000 | 657,000,000 | 665,000,000 | 996,000,000 | 843,000,000 | 830,000,000 | 676,000,000 | 681,000,000 | 667,000,000 | 600,000,000 | 531,000,000 | 554,000,000 | 542,000,000 | 504,000,000 | 492,000,000 | 357,000,000 | 340,000,000 | 331,000,000 | 298,000,000 | 324,000,000 | 341,000,000 | 323,000,000 | 295,000,000 | 307,000,000 | 282,000,000 | 273,000,000 | 153,000,000 | 174,000,000 | 162,000,000 | 103,000,000 | 92,000,000 | 87,000,000 | 109,000,000 | 102,000,000 | 104,000,000 | 98,000,000 | 88,000,000 | 108,267,000 | 232,398,000 | 93,145,000 | 108,895,000 | 97,837,000 | 97,688,000 | 127,887,000 | 235,537,000 | 399,779,000 | 409,497,000 | 227,960,000 | 196,456,000 | 242,575,000 | 249,559,000 | 227,077,000 | 251,218,000 | 231,008,000 | 173,872,000 | 163,202,000 | ||
total payables | 157,258,000,000 | 152,308,000,000 | 141,226,000,000 | 123,029,000,000 | 116,990,000,000 | 115,289,000,000 | 105,298,000,000 | 103,113,000,000 | 102,799,000,000 | 96,681,000,000 | 97,501,000,000 | 96,317,000,000 | 94,424,000,000 | 93,847,000,000 | 91,853,000,000 | 92,061,000,000 | 86,913,000,000 | 85,475,000,000 | 82,207,000,000 | 82,057,000,000 | 76,567,000,000 | 69,599,000,000 | 69,482,000,000 | 63,483,000,000 | 56,944,000,000 | 55,204,000,000 | 53,941,000,000 | 51,580,000,000 | 48,656,000,000 | 50,382,000,000 | 48,689,000,000 | 48,184,000,000 | 46,791,000,000 | 44,876,000,000 | 43,094,000,000 | 39,985,000,000 | 36,164,000,000 | 34,592,000,000 | 32,884,000,000 | 30,590,159,000 | 29,301,526,000 | 27,600,793,000 | 25,415,283,000 | 23,639,147,000 | 23,733,169,000 | |||||||||||||||
total liabilities | 182,768,000,000 | 180,742,000,000 | 162,957,000,000 | 140,187,000,000 | 133,545,000,000 | 132,521,000,000 | 121,464,000,000 | 117,579,000,000 | 114,356,000,000 | 107,372,000,000 | 107,936,000,000 | 107,236,000,000 | 103,528,000,000 | 103,783,000,000 | 102,784,000,000 | 103,941,000,000 | 98,891,000,000 | 96,271,000,000 | 94,403,000,000 | 94,327,000,000 | 86,676,000,000 | 76,152,000,000 | 75,711,000,000 | 67,702,000,000 | 63,736,000,000 | 60,151,000,000 | 58,414,000,000 | 56,100,000,000 | 53,391,000,000 | 55,159,000,000 | 53,603,000,000 | 53,531,000,000 | 51,406,000,000 | 50,247,000,000 | 49,194,000,000 | 46,137,000,000 | 41,944,000,000 | 39,925,000,000 | 38,256,000,000 | 36,415,580,000 | 34,879,908,000 | 33,736,170,000 | 31,204,162,000 | 30,161,426,000 | 30,318,169,000 | |||||||||||||||
commitments, contingencies and guarantees | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
common stock, 0.01 par value per share... | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 4,000,000,000 shares, issued - 446,130,605 and 436,244,236 shares, outstanding – 445,413,716 and 435,618,452 shares as of december 31, 2025 and december 31, 2024 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized - 1,000 shares, issued and outstanding – 400 shares as of december 31, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
additional paid-in capital | 1,957,000,000 | 1,943,000,000 | 1,886,000,000 | 1,828,000,000 | 1,816,000,000 | 1,804,000,000 | 1,782,000,000 | 1,736,000,000 | 1,726,000,000 | 1,718,000,000 | 1,626,000,000 | 1,589,000,000 | 1,581,000,000 | 1,572,000,000 | 1,480,000,000 | 1,449,000,000 | 1,442,000,000 | 1,433,000,000 | 1,277,000,000 | 1,249,000,000 | 1,244,000,000 | 985,000,000 | 960,000,000 | 937,000,000 | 934,000,000 | 930,000,000 | 927,000,000 | 901,000,000 | 898,000,000 | 895,000,000 | 865,000,000 | 829,000,000 | 807,000,000 | 777,000,000 | 773,000,000 | 746,000,000 | 711,000,000 | 667,000,000 | 637,000,000 | 615,943,000 | 613,386,000 | 585,070,000 | 517,865,000 | 516,680,000 | 494,823,000 | 490,025,000 | 545,873,000 | 522,434,000 | 535,542,000 | 528,586,000 | 528,586,000 | 528,586,000 | 485,822,000 | 485,839,000 | 450,667,000 | 450,667,000 | ||||
retained earnings | 3,365,000,000 | 3,117,000,000 | 2,890,000,000 | 2,701,000,000 | 2,515,000,000 | 2,325,000,000 | 2,168,000,000 | 2,016,000,000 | 1,852,000,000 | 1,703,000,000 | 1,546,000,000 | 1,432,000,000 | 1,294,000,000 | 1,168,000,000 | 1,079,000,000 | 1,017,000,000 | 953,000,000 | 896,000,000 | 864,000,000 | 781,000,000 | 683,000,000 | 621,000,000 | 583,000,000 | 558,000,000 | 520,000,000 | 484,000,000 | 456,000,000 | 431,000,000 | 390,000,000 | 354,000,000 | 323,000,000 | 260,000,000 | 236,000,000 | 220,000,000 | 205,000,000 | 192,000,000 | 135,000,000 | 119,000,000 | 102,000,000 | 119,423,000 | 121,942,000 | 112,491,000 | 100,712,000 | 89,262,000 | 83,879,000 | 117,464,000 | 131,895,000 | 113,958,000 | 108,755,000 | 196,176,000 | 185,140,000 | 181,300,000 | 175,057,000 | 153,829,000 | 75,351,000 | |||||
accumulated other comprehensive income, net of income taxes of 0 as of both december 31, 2025 and december 31, 2024 | 56,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
treasury stock | -16,000,000 | -7,000,000 | -14,000,000 | -11,000,000 | -7,000,000 | -4,000,000 | -4,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -5,000,000 | -4,000,000 | -6,000,000 | -4,000,000 | -6,000,000 | -5,000,000 | -5,000,000 | -4,000,000 | -6,000,000 | -4,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -3,000,000 | -29,000,000 | -13,000,000 | -28,000,000 | -3,167,000 | -2,420,000 | 17,407,000 | -117,550,000 | ||||||||||||||||||||||||
total stockholders’ equity | 5,363,000,000 | 5,106,000,000 | 4,825,000,000 | 4,502,000,000 | 4,280,000,000 | 4,145,000,000 | 3,927,000,000 | 3,732,000,000 | 3,584,000,000 | 3,390,000,000 | 3,158,000,000 | 3,001,000,000 | 2,848,000,000 | 2,677,000,000 | 2,524,000,000 | 2,456,000,000 | 2,395,000,000 | 2,331,000,000 | 2,150,000,000 | 2,036,000,000 | 1,951,000,000 | 1,609,000,000 | 1,538,000,000 | 1,486,000,000 | 1,452,000,000 | 1,405,000,000 | 1,380,000,000 | 1,325,000,000 | 1,282,000,000 | 1,243,000,000 | 1,183,000,000 | 1,096,000,000 | 1,049,000,000 | 997,000,000 | 981,000,000 | 915,000,000 | 841,000,000 | 774,000,000 | 748,000,000 | 750,860,000 | 762,354,000 | 723,043,000 | 642,598,000 | 626,316,000 | 597,526,000 | 629,609,000 | 617,589,000 | 596,963,000 | 565,679,000 | 530,595,000 | 505,258,000 | 623,191,000 | 601,124,000 | 577,442,000 | 572,144,000 | 520,011,000 | 444,696,000 | 408,403,000 | ||
noncontrolling interests | 15,109,000,000 | 14,374,000,000 | 13,693,000,000 | 12,981,000,000 | 12,317,000,000 | 11,860,000,000 | 11,257,000,000 | 10,927,000,000 | 10,483,000,000 | 9,874,000,000 | 9,499,000,000 | 9,232,000,000 | 8,767,000,000 | 8,223,000,000 | 8,078,000,000 | 8,026,000,000 | 7,827,000,000 | 7,680,000,000 | 7,778,000,000 | 7,401,000,000 | 7,052,000,000 | 6,937,000,000 | 6,716,000,000 | 6,661,000,000 | 6,488,000,000 | 6,248,000,000 | 6,240,000,000 | 6,101,000,000 | 5,874,000,000 | 5,660,000,000 | 5,517,000,000 | 5,216,000,000 | 5,142,000,000 | 5,013,000,000 | 4,889,000,000 | 4,777,000,000 | 4,441,000,000 | 4,460,000,000 | 4,290,000,000 | 4,441,766,000 | 4,513,237,000 | 4,521,163,000 | 4,430,284,000 | 4,268,812,000 | 4,228,409,000 | 4,525,233,000 | 4,379,076,000 | |||||||||||||
total equity | 20,472,000,000 | 19,480,000,000 | 18,518,000,000 | 17,483,000,000 | 16,597,000,000 | 16,005,000,000 | 15,184,000,000 | 14,659,000,000 | 14,067,000,000 | 13,264,000,000 | 12,657,000,000 | 12,233,000,000 | 11,615,000,000 | 10,900,000,000 | 10,602,000,000 | 10,482,000,000 | 10,222,000,000 | 10,011,000,000 | 9,928,000,000 | 9,437,000,000 | 9,003,000,000 | 8,546,000,000 | 8,254,000,000 | 8,147,000,000 | 7,940,000,000 | 7,653,000,000 | 7,620,000,000 | 7,426,000,000 | 7,156,000,000 | 6,903,000,000 | 6,700,000,000 | 6,312,000,000 | 6,191,000,000 | 6,010,000,000 | 5,870,000,000 | 5,692,000,000 | 5,282,000,000 | 5,234,000,000 | 5,038,000,000 | 5,192,626,000 | 5,275,591,000 | 5,244,206,000 | 5,072,882,000 | 4,895,128,000 | 4,825,935,000 | 5,154,842,000 | 4,996,665,000 | 4,965,195,000 | 4,633,266,000 | 4,585,543,000 | 4,440,797,000 | 5,114,897,000 | 4,843,496,000 | 4,882,556,000 | 4,822,534,000 | 4,434,808,000 | ||||
total liabilities and equity | 203,240,000,000 | 200,222,000,000 | 181,475,000,000 | 157,670,000,000 | 150,142,000,000 | 148,526,000,000 | 136,648,000,000 | 132,238,000,000 | 128,423,000,000 | 120,636,000,000 | 120,593,000,000 | 119,469,000,000 | 115,143,000,000 | 114,683,000,000 | 113,386,000,000 | 114,423,000,000 | 109,113,000,000 | 106,282,000,000 | 104,331,000,000 | 103,764,000,000 | 95,679,000,000 | 84,698,000,000 | 83,965,000,000 | 75,849,000,000 | 71,676,000,000 | 67,804,000,000 | 66,034,000,000 | 63,526,000,000 | 60,547,000,000 | 62,062,000,000 | 60,303,000,000 | 59,843,000,000 | 57,597,000,000 | 56,257,000,000 | 55,064,000,000 | 51,829,000,000 | 47,226,000,000 | 45,159,000,000 | 43,294,000,000 | 41,608,206,000 | 33,151,121,000 | 30,640,255,000 | 30,054,599,000 | 29,660,427,000 | 27,481,678,000 | 29,362,208,000 | 28,845,475,000 | 25,135,830,000 | ||||||||||||
customers, less allowance for credit losses of 22 and 25 as of september 30, 2025 and december 31, 2024 | 77,588,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
securities sold under agreements to repurchase | 894,000,000 | 300,000,000 | 1,909,000,000 | 17,286,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 4,000,000,000 shares, issued - 445,923,364 and 436,244,236 shares, outstanding – 445,331,214 and 435,618,452 shares as of september 30, 2025 and december 31, 2024 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized - 1,000 shares, issued and outstanding – 400 shares as of september 30, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 as of both september 30, 2025 and december 31, 2024 | 52,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 23 and 25 as of june 30, 2025 and december 31, 2024 | 65,346,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 4,000,000,000 shares, issued - 442,087,364 and 436,244,236 shares, outstanding – 441,362,243 and 435,618,452 shares as of june 30, 2025 and december 31, 2024 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized - 1,000 shares, issued and outstanding – 400 shares as of june 30, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 as of both june 30, 2025 and december 31, 2024 | 62,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 26 and 25 as of march 31, 2025 and december 31, 2024 | 63,857,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 109,111,059 and 109,061,059 shares, outstanding – 108,942,324 and 108,904,613 shares as of march 31, 2025 and december 31, 2024 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2025 and december 31, 2024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 as of both march 31, 2025 and december 31, 2024 | -17,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 25 and 10 as of december 31, 2024 and 2023 | 64,432,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 109,061,059 and 107,178,928 shares, outstanding – 108,904,613 and 107,045,894 shares as of december 31, 2024 and 2023 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of december 31, 2024 and 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of december 31, 2024 and 2023 | -45,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 24 and 10 as of september 30, 2024 and december 31, 2023 | 56,006,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 109,009,224 and 107,178,928 shares, outstanding – 108,867,197 and 107,045,894 shares as of september 30, 2024 and december 31, 2023 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 as of both september 30, 2024 and december 31, 2023 | 19,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 16 and 10 as of june 30, 2024 and december 31, 2023 | 55,252,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 108,626,224 and 107,178,928 shares, outstanding – 108,485,969 and 107,045,894 shares as of june 30, 2024 and december 31, 2023 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of june 30, 2024 and december 31, 2023 | -20,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 14 and 10 as of march 31, 2024 and december 31, 2023 | 51,395,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 107,228,928 and 107,178,928 shares, outstanding – 107,094,094 and 107,045,894 shares as of march 31, 2024 and december 31, 2023 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2024 and december 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of march 31, 2024 and december 31, 2023 | -18,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 10 and 10 as of december 31, 2023 and 2022 | 44,472,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 107,178,928 and 103,057,148 shares, outstanding – 107,045,894 and 102,887,728 shares as of december 31, 2023 and 2022 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of december 31, 2023 and 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of december 31, 2023 and 2022 | 8,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 12 and 10 as of september 30, 2023 and december 31, 2022 | 43,602,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 107,125,489 and 103,057,148 shares, outstanding – 106,992,860 and 102,887,728 shares as of september 30, 2023 and december 31, 2022 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 as of september 30, 2023 and december 31, 2022 | -29,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash – segregated for regulatory purposes | 25,770,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
securities – segregated for regulatory purposes | 33,457,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 11 and 10 as of june 30, 2023 and december 31, 2022 | 41,966,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized – 1,000,000,000, issued – 104,492,741 and 103,057,148 shares, outstanding – 104,328,801 and 102,887,728 shares as of june 30, 2023 and december 31, 2022 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of june 30, 2023 and december 31, 2022 | -10,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 12 and 10 as of march 31, 2023 and december 31, 2022 | 39,491,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 103,128,710 and 103,057,148 shares, outstanding – 102,984,753 and 102,887,728 shares as of march 31, 2023 and december 31, 2022 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2023 and december 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of march 31, 2023 and december 31, 2022 | -17,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 10 and 8 as of december 31, 2022 and 2021 | 38,760,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
brokers, dealers and clearing organizations | 3,469,000,000 | 3,771,000,000 | 4,038,000,000 | 3,983,000,000 | 3,368,000,000 | 1,254,000,000 | 2,575,000,000 | 1,395,000,000 | 1,535,000,000 | 685,000,000 | 868,000,000 | 685,000,000 | 698,000,000 | 706,000,000 | 846,000,000 | 1,134,000,000 | 1,039,000,000 | 1,164,000,000 | 1,052,000,000 | 764,000,000 | 1,351,000,000 | 859,000,000 | 1,205,000,000 | 1,015,000,000 | 885,333,000 | 765,337,000 | 902,173,000 | 490,859,000 | 949,835,000 | 807,643,000 | 1,079,882,000 | 1,148,961,000 | 947,365,000 | 739,679,000 | 537,438,000 | 608,887,000 | 685,850,000 | 1,998,628,000 | 1,851,802,000 | 1,630,805,000 | 2,484,163,000 | 3,474,928,000 | 1,682,564,000 | |||||||||||||||||
class a – authorized - 1,000,000,000, issued - 103,057,148 and 98,359,572 shares, outstanding – 102,887,728 and 98,204,658 shares as of december 31, 2022 and 2021 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of december 31, 2022 and 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of december 31, 2022 and 2021 | -22,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 10 and 8 as of september 30, 2022 and december 31, 2021 | 40,424,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized – 1,000,000,000, issued – 103,003,052 and 98,359,572 shares, outstanding – 102,865,696 and 98,204,658 shares as of september 30, 2022 and december 31, 2021 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2022 and december 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of september 30, 2022 and december 31, 2021 | -60,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 10 and 8 as of june 30, 2022 and december 31, 2021 | 42,552,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized – 1,000,000,000, issued – 99,731,366 and 98,359,572 shares, outstanding – 99,560,859 and 98,204,658 shares as of june 30, 2022 and december 31, 2021 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2022 and december 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of june 30, 2022 and december 31, 2021 | -30,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 9 and 8 as of march 31, 2022 and december 31, 2021 | 48,306,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 98,409,572 and 98,359,572 shares, outstanding – 98,247,247 and 98,204,658 shares as of march 31, 2022 and december 31, 2021 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2022 and december 31, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of march 31, 2022 and december 31, 2021 | -6,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 8 and 17 as of december 31, 2021 and 2020 | 54,935,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 98,359,572 and 90,909,889 shares, outstanding – 98,204,658 and 90,773,105 shares as of december 31, 2021 and 2020 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of december 31, 2021 and 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of december 31, 2021 and 2020 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 9 and 17 as of september 30, 2021 and december 31, 2020 | 50,503,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 98,305,396 and 90,909,889 shares, outstanding – 98,162,756 and 90,773,105 shares as of september 30, 2021 and december 31, 2020 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of september 30, 2021 and december 31, 2020 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 10 and 17 as of june 30, 2021 and december 31, 2020 | 49,954,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 92,220,818 and 90,909,889 shares, outstanding – 92,045,760 and 90,773,105 shares as of june 30, 2021 and december 31, 2020 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of june 30, 2021 and december 31, 2020 | 14,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 14 and 17 as of march 31, 2021 and december 31, 2020 | 42,645,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 90,959,889 and 90,909,889 shares, outstanding – 90,807,181 and 90,773,105 shares as of march 31, 2021 and december 31, 2020 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2021 and december 31, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of march 31, 2021 and december 31, 2020 | 9,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 17 and 86 as of december 31, 2020 and 2019 | 39,333,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 90,909,889 and 76,889,040 shares, outstanding – 90,773,105 and 76,750,110 shares as of december 31, 2020 and 2019 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of december 31, 2020 and 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of december 31, 2020 and 2019 | 26,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 17 and 86 as of september 30, 2020 and december 31, 2019 | 30,343,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 79,187,067 and 76,889,040 shares, outstanding – 79,054,435 and 76,750,110 shares as of september 30, 2020 and december 31, 2019 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2020 and december 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of september 30, 2020 and december 31, 2019 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 20 and 86 as of june 30, 2020 and december 31, 2019 | 25,678,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 78,187,067 and 76,889,040 shares, outstanding – 78,051,862 and 76,750,110 shares as of june 30, 2020 and december 31, 2019 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2020 and december 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of june 30, 2020 and december 31, 2019 | -3,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for credit losses of 93 and 86 as of march 31, 2020 and december 31, 2019 | 20,092,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 76,889,351 and 76,889,040 shares, outstanding – 76,752,269 and 76,750,110 shares as of march 31, 2020 and december 31, 2019 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2020 and december 31, 2019 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of march 31, 2020 and december 31, 2019 | -7,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 86 and 42 as of december 31, 2019 and 2018 | 31,304,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 76,889,040 and 75,230,400 shares, outstanding – 76,750,110 and 75,100,952 shares as of december 31, 2019 and 2018 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of december 31, 2019 and 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of december 31, 2019 and 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 85 and 42 as of september 30, 2019 and december 31, 2018 | 25,970,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 76,878,300 and 75,230,400 shares, outstanding – 76,748,852 and 75,100,952 shares as of september 30, 2019 and december 31, 2018 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of september 30, 2019 and december 31, 2018 | -7,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financial instruments owned, at fair value: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 89 and 42 as of june 30, 2019 and december 31, 2018 | 25,904,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 76,856,784 and 75,230,400 shares, outstanding – 76,727,336 and 75,100,952 shares as of june 30, 2019 and december 31, 2018 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of june 30, 2019 and december 31, 2018 | -1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 85 and 42 as of march 31, 2019 and december 31, 2018 | 25,868,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 75,231,305 and 75,230,400 shares, outstanding – 75,101,857 and 75,100,952 shares as of march 31, 2019 and december 31, 2018 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of march 31, 2019 and december 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 42 and 40 as of december 31, 2018 and 2017 | 27,017,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 75,230,400 and 71,609,049 shares, outstanding – 75,100,952 and 71,475,755 shares as of december 31, 2018 and 2017 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of december 31, 2018 and 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 1 as of december 31, 2018 and 2017 | -4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 41 and 40 as of september 30, 2018 and december 31, 2017 | 30,913,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 75,226,888 and 71,609,049 shares, outstanding – 75,097,440 and 71,475,755 shares as of september 30, 2018 and december 31, 2017 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 1 as of september 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 41 and 40 as of june 30, 2018 and december 31, 2017 | 28,970,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payables: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 73,674,391 and 71,609,049 shares, outstanding – 73,544,943 and 71,475,755 shares as of june 30, 2018 and december 31, 2017 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 1 as of june 30, 2018 and december 31, 2017 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and securities - segregated for regulatory purposes | 23,566,000,000 | 24,187,000,000 | 24,710,000,000 | 25,250,000,000 | 25,257,000,000 | 20,911,000,000 | 16,762,000,000 | 16,723,000,000 | 15,291,298,000 | 15,520,061,000 | 15,579,679,000 | 12,681,070,000 | 12,535,253,000 | 12,504,910,000 | 12,325,775,000 | 11,030,651,000 | 11,028,544,000 | 10,302,842,000 | 8,807,874,000 | 8,256,718,000 | 7,623,281,000 | 6,027,296,000 | 6,812,926,000 | 6,334,286,000 | 5,448,337,000 | 5,544,412,000 | 5,232,557,000 | 4,416,956,000 | ||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 95 and 97 as of september 30, 2017 and december 31, 2016 | 25,333,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 71,607,035 and 68,119,412 shares, outstanding – 71,473,741 and 67,984,973 shares as of september 30, 2017 and december 31, 2016 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2017 and december 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 1 and 0 as of september 30, 2017 and december 31, 2016 | 9,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 95 and 97 as of june 30, 2017 and december 31, 2016 | 22,833,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 70,384,414 and 68,119,412 shares, outstanding – 70,251,034 and 67,984,973 shares as of june 30, 2017 and december 31, 2016 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2017 and december 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 1 and 0 as of june 30, 2017 and december 31, 2016 | 8,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 98 and 97 as of march 31, 2017 and december 31, 2016 | 21,273,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 68,121,374 and 68,119,412 shares, outstanding – 67,987,994 and 67,984,973 shares as of march 31, 2017 and december 31, 2016 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2017 and december 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of march 31, 2017 and december 31, 2016 | 2,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 102 and 130 as of september 30, 2016 and december 31, 2015 | 18,223,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 68,117,402 and 64,121,150 shares, outstanding – 67,982,963 and 63,985,335 shares as of september 30, 2016 and december 31, 2015 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2016 and december 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of september 30, 2016 and december 31, 2015 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 99 and 130 as of june 30, 2016 and december 31, 2015 | 15,137,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 66,516,360 and 64,121,150 shares, outstanding – 65,671,645 and 63,985,335 shares as of june 30, 2016 and december 31, 2015 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2016 and december 31, 2015 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 0 as of june 30, 2016 and december 31, 2015 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 132 and 7 as of september 30, 2015 and december 31, 2014 | 15,879,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 63,868,716 and 58,612,245 shares, outstanding – 63,447,715 and 58,473,186 shares as of september 30, 2015 and december 31, 2014 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of september 30, 2015 and december 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 1 as of september 30, 2015 and december 31, 2014 | 7,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 125 and 7 as of june 30, 2015 and december 31, 2014 | 19,002,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 61,073,877 and 58,612,245 shares, outstanding – 60,216,664 and 58,473,186 shares as of june 30, 2015 and december 31, 2014 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of june 30, 2015 and december 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 1 as of june 30, 2015 and december 31, 2014 | 15,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 128 and 7 as of march 31, 2015 and december 31, 2014 | 17,437,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 58,616,821 and 58,612,245 shares, outstanding – 58,478,751 and 58,473,186 shares as of march 31, 2015 and december 31, 2014 | 1,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares as of march 31, 2015 and december 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 0 and 1 as of march 31, 2015 and december 31, 2014 | 11,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 8,153 and 67,999 at september 30, 2014 and december 31, 2013 | 17,261,440,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
receivable from affiliate | 8,000 | 38,000 | 651,000 | 639,000 | 621,000 | 593,000 | 20,447,000 | 581,000 | 577,000 | 1,188,000 | 1,159,000 | 1,159,000 | 1,161,000 | 642,000 | 5,223,000 | |||||||||||||||||||||||||||||||||||||||||||||
liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payable to affiliate | 271,467,000 | 271,467,000 | 287,215,000 | 259,723,000 | 259,714,000 | 259,735,000 | 271,602,000 | 287,402,000 | 284,862,000 | 284,858,000 | 298,982,000 | 298,982,000 | 298,982,000 | 313,770,000 | 313,805,000 | 323,970,000 | 323,901,000 | 211,095,000 | ||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 57,247,149 and 54,788,049 shares, outstanding – 57,104,682 and 54,664,095 shares at september 30, 2014 and december 31, 2013 | 572,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares at september 30, 2014 and december 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 868 and 936 at september 30, 2014 and december 31, 2013 | 18,089,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total financial instruments owned | 3,238,092,000 | 3,428,200,000 | 4,425,273,000 | 4,412,672,000 | 4,662,309,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 7,591 and 67,999 at june 30, 2014 and december 31, 2013 | 15,326,943,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financial instruments sold but not yet purchased, at fair value | 2,630,785,000 | 3,170,552,000 | 3,593,292,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 57,220,459 and 54,788,049 shares, outstanding – 57,098,889 and 54,664,095 shares at june 30, 2014 and december 31, 2013 | 572,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares at june 30, 2014 and december 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 1,121 and 936 at june 30, 2014 and december 31, 2013 | 28,874,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and stockholders’ equity | 40,155,499,000 | 38,980,376,000 | 36,277,044,000 | 35,056,554,000 | 35,144,104,000 | 33,861,696,000 | 32,383,711,000 | 32,696,398,000 | 33,190,623,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 68,024 and 67,999 at march 31, 2014 and december 31, 2013 | 14,413,560,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 54,789,790 and 54,788,049 shares, outstanding – 54,666,825 and 54,664,095 shares at march 31, 2014 and december 31, 2013 | 548,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares at march 31, 2014 and december 31, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 1,059 and 936 at march 31, 2014 and december 31, 2013 | 27,396,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 3,540 and 1,416 at september 30, 2013 and december 31, 2012 | 12,727,552,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 50,096,562 and 47,797,844 shares, outstanding – 49,971,727 and 47,499,739 shares at september 30, 2013 and december 31, 2012 | 501,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares at september 30, 2013 and december 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 1,081 and 1,417 at september 30, 2013 and december 31, 2012 | 26,038,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
see accompanying notes to the unaudited condensed consolidated financial statements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 2,529 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,416 at june 30, 2013 and december 31, 2012 | 11,311,806,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
financial instruments sold but not yet purchased, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
at fair value | 4,041,150,000 | 4,367,387,000 | 5,359,268,000 | 8,360,808,000 | 4,939,976,000 | 5,333,936,000 | 8,340,378,000 | 7,912,306,000 | 9,978,883,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 50,090,836 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
47,797,844 shares, outstanding – 49,965,451 and 47,499,739 shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
at june 30, 2013 and december 31, 2012 | 500,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized, issued and outstanding – 100 shares | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1,023 and 1,417 at june 30, 2013 and december 31, 2012 | 22,408,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 1,795 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 47,801,449 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading assets, at fair value: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other receivables: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading liabilities - financial instruments sold but not yet purchased, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other payables: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
senior notes payable | 30,238,000 | 125,873,000 | 178,300,000 | 200,889,000 | 219,632,000 | 230,854,000 | 218,198,000 | 185,123,000 | 146,090,000 | 165,023,000 | 160,456,000 | 154,698,000 | 154,604,000 | |||||||||||||||||||||||||||||||||||||||||||||||
senior secured credit facility | 150,000,000 | 300,000,000 | 150,000,000 | 150,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redeemable noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading assets, at fair value: - sum | 6,161,777,000 | 6,103,463,000 | 6,418,978,000 | 9,213,203,000 | 10,250,531,000 | 10,777,137,000 | 16,857,513,000 | 14,882,166,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 3,648 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other payables: - sum | 20,155,687,000 | 19,136,005,000 | 18,389,309,000 | 14,226,887,000 | 12,043,876,000 | 9,593,962,000 | 9,807,365,000 | 7,838,251,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 47,788,659 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-controlling interests | 4,368,232,000 | 4,067,587,000 | 4,054,948,000 | 3,935,539,000 | 4,491,706,000 | 4,242,372,000 | 4,305,114,000 | 4,250,390,000 | 3,914,797,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 5,063 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 52,281,648 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 20,746 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 50,298,024 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 18,286 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 18,212 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 47,784,286 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 18,471 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 16,514 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading liabilities - financial instruments sold but not yet purchased, at fair value | 9,627,939,000 | 10,723,653,000 | 14,315,853,000 | 15,938,278,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 16,636 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
17,572 at september 30, 2009 and december 31, 2008 | 2,942,308,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other receivables: - sum | 4,955,325,000 | 3,752,503,000 | 4,485,717,000 | 4,843,621,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized - 1,000,000,000, issued - 45,336,255 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
outstanding – 41,214,498 and 40,536,615 shares at september 30, | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2009 and december 31, 2008 | 453,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
at september 30, 2009 and december 31, 2008 | -99,643,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
6,076 and 2,271 at september 30, 2009 and december 31, 2008 | 10,455,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 18,154 and | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
17,572 at march 31, 2009 and december 31, 2008 | 1,879,924,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
outstanding – 40,536,615 shares at march 31, 2009 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
and december 31, 2008 | 453,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
at march 31, 2009 and december 31, 2008 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of (1,488) and 2,271 at | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
march 31, 2009 and december 31, 2008 | -2,560,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of3,483 and 1,999 at march 31, 2008 and december 31, 2007 | 1,955,409,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading liabilities - financial instruments sold but notyet purchased, at fair value | 13,523,203,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
minority interest | 3,571,038,000 | 3,165,421,000 | 2,688,042,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a – authorized- 1,000,000, 000, issued-43,270,823, outstanding– 40,143,760 | 433,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b – authorized- 100, issued- 100, outstanding– 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
accumulated other comprehensive income, net of income taxes of 7,677 and 2,388 | 13,211,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 1,999 and 1,031 at december 31, 2007 and 2006 | 1,916,076,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities, redeemable members’ interests and stockholders’ equity | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redeemable members’ interests, including accumulated other comprehensive income of 98,568 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a — authorized- 1,000,000, 000, issued- 43,270,823, outstanding — 40,143,760 | 433,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class b — authorized- 100, issued- 100, outstanding — 100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
retained earnings, including accumulated other comprehensive income of 4,109, net of income taxes of 2,388 | 52,269,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities, redeemable members’ interests and stockholders’ equity | 34,542,086,000 | 33,544,823,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customers, less allowance for doubtful accounts of 969 at june 30, 2007 and 1,031 at december 31, 2006 | 1,295,173,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stockholders’ equity, including accumulated other comprehensive income of | 344,483,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and securities — segregated for regulatory purposes | 3,427,864,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
liabilities and redeemable members’ interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading liabilities — financial instruments sold but not yet purchased, at fair value | 14,719,628,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redeemable members’ interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total liabilities and redeemable members’ interest | 32,248,688,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
revenues: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
trading gains | 198,802,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
commissions and execution fees | 56,335,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest income | 184,519,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
other income | 24,689,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total revenues | 464,345,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest expense | 133,537,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total net revenues | 330,808,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-interest expenses: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
execution and clearing | 90,120,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
employee compensation and benefits | 32,793,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
occupancy, depreciation and amortization | 5,957,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
communications | 3,463,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
general and administrative | 8,136,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
total non-interest expenses | 140,469,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income before income taxes | 190,339,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
income tax expense | 6,143,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 184,196,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 | 2020-06-30 | 2020-03-31 | 2019-12-31 | 2019-09-30 | 2019-06-30 | 2019-03-31 | 2018-12-31 | 2018-09-30 | 2018-06-30 | 2018-03-31 | 2017-09-30 | 2017-06-30 | 2017-03-31 | 2016-09-30 | 2016-06-30 | 2016-03-31 | 2014-09-30 | 2014-06-30 | 2014-03-31 | 2013-09-30 | 2013-06-30 | 2013-03-31 | 2012-09-30 | 2012-06-30 | 2012-03-31 | 2011-09-30 | 2010-09-30 | 2010-06-30 | 2010-03-31 | 2009-03-31 | 2008-12-31 | 2008-09-30 | 2008-06-30 | 2008-03-31 | 2007-06-30 | 2007-03-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net income | 1,201,000,000 | 1,186,000,000 | 1,006,000,000 | 964,000,000 | 969,000,000 | 834,000,000 | 809,000,000 | 795,000,000 | 739,000,000 | 772,000,000 | 601,000,000 | 700,000,000 | 633,000,000 | 483,000,000 | 360,000,000 | 366,000,000 | 338,000,000 | 206,000,000 | 506,000,000 | 586,000,000 | 380,000,000 | 302,000,000 | 207,000,000 | 290,000,000 | 294,000,000 | 261,000,000 | 210,000,000 | 324,000,000 | 290,000,000 | 258,000,000 | 258,000,000 | 319,000,000 | 247,000,000 | 187,000,000 | 195,000,000 | 168,000,000 | 200,000,000 | 310,000,000 | 31,690,000 | 160,758,000 | 201,194,000 | 185,968,000 | 120,036,000 | 75,288,000 | 148,719,000 | 64,768,000 | 59,687,000 | 155,115,000 | 27,147,000 | 18,348,000 | 27,191,000 | -177,190,000 | 184,196,000 | |||||
adjustments to reconcile net income to net cash from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred income taxes | 13,000,000 | 20,000,000 | 9,000,000 | -1,000,000 | -9,000,000 | 1,000,000 | 7,000,000 | -1,000,000 | 21,000,000 | 2,000,000 | 4,000,000 | 3,000,000 | 12,000,000 | 2,000,000 | 4,000,000 | 2,000,000 | 5,000,000 | -11,000,000 | 14,000,000 | 15,000,000 | -3,000,000 | 2,000,000 | 5,000,000 | 5,000,000 | 7,000,000 | 5,000,000 | 3,000,000 | 9,000,000 | 2,000,000 | 8,000,000 | 7,000,000 | 4,000,000 | 8,000,000 | 10,000,000 | 5,000,000 | 3,000,000 | 10,000,000 | 8,000,000 | 6,397,000 | 6,057,000 | 2,390,000 | 1,814,000 | -409,000 | 9,759,000 | 11,348,000 | 19,849,000 | 12,711,000 | 14,382,000 | ||||||||||
depreciation and amortization | 16,000,000 | 15,000,000 | 15,000,000 | 15,000,000 | 16,000,000 | 17,000,000 | 17,000,000 | 17,000,000 | 16,000,000 | 17,000,000 | 16,000,000 | 16,000,000 | 15,000,000 | 14,000,000 | 14,000,000 | 15,000,000 | 13,000,000 | 12,000,000 | 12,000,000 | 13,000,000 | 11,000,000 | 11,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 8,000,000 | 6,000,000 | 5,000,000 | 7,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 4,624,000 | 4,555,000 | 4,896,000 | 4,475,000 | 4,470,000 | 4,969,000 | 4,980,000 | 4,547,000 | 4,217,000 | 4,350,000 | 2,998,000 | 2,953,000 | ||||||||
amortization of right-of-use assets | 8,000,000 | 9,000,000 | 8,000,000 | 7,000,000 | 7,000,000 | 8,000,000 | 7,000,000 | 7,000,000 | 9,000,000 | 6,000,000 | 7,000,000 | 7,000,000 | 7,000,000 | 6,000,000 | 7,000,000 | 6,000,000 | 7,000,000 | 6,000,000 | 6,000,000 | 5,000,000 | 6,000,000 | 4,000,000 | 5,000,000 | 5,000,000 | 6,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||||||||||||||||||||
employee stock plan compensation | 28,000,000 | 31,000,000 | 28,000,000 | 31,000,000 | 32,000,000 | 26,000,000 | 26,000,000 | 28,000,000 | 25,000,000 | 26,000,000 | 23,000,000 | 26,000,000 | 28,000,000 | 22,000,000 | 21,000,000 | 21,000,000 | 29,000,000 | 17,000,000 | 17,000,000 | 17,000,000 | 19,000,000 | 17,000,000 | 13,000,000 | 16,000,000 | 17,000,000 | 13,000,000 | 14,000,000 | 16,000,000 | 16,000,000 | 13,000,000 | 15,000,000 | 14,000,000 | 13,000,000 | 12,000,000 | 13,000,000 | 12,000,000 | 10,000,000 | 12,000,000 | 9,866,000 | 11,550,000 | 10,051,000 | 3,905,000 | 15,711,000 | 8,470,000 | 7,909,000 | 6,843,000 | 6,976,000 | 6,836,000 | ||||||||||
unrealized losses on other investments | 0 | -43,000,000 | -16,000,000 | -17,000,000 | 7,000,000 | -28,000,000 | 4,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
loss on remeasurement of tax receivable agreement liability | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
customer bad debt expense | 1,000,000 | 1,000,000 | 7,000,000 | 2,000,000 | 5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
shares distributed to customers under ibkr promotions | 9,000,000 | 8,000,000 | 8,000,000 | 9,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 5,000,000 | 5,000,000 | 2,000,000 | 3,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | 3,000,000 | 3,000,000 | 2,000,000 | 2,000,000 | 2,000,000 | ||||||||||||||||||||||||||||||||||||||
non-cash capital contribution | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in operating assets and liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
securities - segregated for regulatory purposes | 12,170,000,000 | -1,719,000,000 | -7,578,000,000 | -1,548,000,000 | 3,257,000,000 | -2,785,000,000 | 974,000,000 | 6,094,000,000 | -4,051,000,000 | -5,206,000,000 | -480,000,000 | -592,000,000 | -6,359,000,000 | -9,229,000,000 | -721,000,000 | 1,235,000,000 | 9,434,000,000 | 2,752,000,000 | 1,495,000,000 | 4,134,000,000 | -3,263,000,000 | -12,363,000,000 | 3,422,000,000 | -973,000,000 | -1,741,000,000 | -2,937,000,000 | -2,763,000,000 | 536,000,000 | -615,000,000 | 932,000,000 | ||||||||||||||||||||||||||||
securities borrowed | -21,000,000 | -1,423,000,000 | -4,300,000,000 | -476,000,000 | 2,144,000,000 | -1,295,000,000 | 144,000,000 | -527,000,000 | -357,000,000 | 521,000,000 | -693,000,000 | -557,000,000 | -841,000,000 | -53,000,000 | 590,000,000 | -533,000,000 | -101,000,000 | -181,000,000 | 2,078,000,000 | -752,000,000 | -961,000,000 | 841,000,000 | -866,000,000 | -54,000,000 | 94,000,000 | 18,000,000 | 168,000,000 | -865,000,000 | 220,000,000 | 37,000,000 | -620,000,000 | -11,000,000 | -300,000,000 | 28,000,000 | -294,000,000 | -1,025,000,000 | 251,000,000 | -87,000,000 | ||||||||||||||||||||
securities purchased under agreements to resell | 1,407,000,000 | 1,005,000,000 | -1,153,000,000 | -1,801,000,000 | 1,601,000,000 | -1,965,000,000 | 463,000,000 | -1,170,000,000 | -24,000,000 | 951,000,000 | 268,000,000 | -670,000,000 | -1,169,000,000 | 1,428,000,000 | -20,000,000 | -1,888,000,000 | 1,728,000,000 | -1,942,000,000 | -2,474,000,000 | -900,000,000 | 609,000,000 | -34,000,000 | -457,000,000 | 2,201,000,000 | -1,720,000,000 | -89,000,000 | 278,000,000 | -338,000,000 | -911,000,000 | 202,000,000 | 144,000,000 | 1,358,000,000 | -223,000,000 | -35,000,000 | 692,000,000 | -610,000,000 | ||||||||||||||||||||||
financial instruments owned, at fair value | -1,856,000,000 | 731,000,000 | -448,000,000 | -1,480,000,000 | 1,027,000,000 | -1,184,000,000 | -653,000,000 | 376,000,000 | -163,000,000 | -828,000,000 | -113,000,000 | 71,000,000 | 612,000,000 | -537,000,000 | 18,000,000 | 96,000,000 | -12,000,000 | 66,000,000 | -82,000,000 | -4,000,000 | -170,000,000 | 436,000,000 | 316,000,000 | 704,000,000 | -40,000,000 | -689,000,000 | 136,000,000 | 803,000,000 | 467,000,000 | -501,000,000 | 326,000,000 | 742,000,000 | -5,000,000 | 450,000,000 | 1,014,000,000 | 434,000,000 | -609,000,000 | -260,000,000 | ||||||||||||||||||||
receivables from customers | -12,888,000,000 | -12,242,000,000 | -1,489,000,000 | 574,000,000 | -8,427,000,000 | -761,000,000 | -3,859,000,000 | -6,928,000,000 | -875,000,000 | -1,636,000,000 | -2,473,000,000 | -735,000,000 | 1,664,000,000 | 2,127,000,000 | 5,753,000,000 | 6,628,000,000 | -4,432,000,000 | -549,000,000 | -7,310,000,000 | -3,314,000,000 | -8,989,000,000 | -4,668,000,000 | -5,589,000,000 | 11,205,000,000 | -5,334,000,000 | -64,000,000 | -40,000,000 | 1,106,000,000 | 3,894,000,000 | -1,942,000,000 | 494,000,000 | 354,000,000 | -2,500,000,000 | -1,561,000,000 | -1,865,000,000 | -3,089,000,000 | 82,000,000 | 1,828,000,000 | ||||||||||||||||||||
other receivables | -430,000,000 | -733,000,000 | -1,590,000,000 | -296,000,000 | -9,000,000 | -320,000,000 | -192,000,000 | -103,000,000 | 148,000,000 | -375,000,000 | 259,000,000 | 1,760,000,000 | -265,000,000 | -1,456,000,000 | 217,000,000 | 1,592,000,000 | 253,000,000 | -60,000,000 | -607,000,000 | -2,126,000,000 | 1,286,000,000 | -1,168,000,000 | 172,000,000 | -805,000,000 | 157,000,000 | -134,000,000 | 12,000,000 | -31,000,000 | 116,000,000 | 288,000,000 | -150,000,000 | -162,000,000 | 112,000,000 | -109,000,000 | -17,000,000 | 579,000,000 | -632,000,000 | -22,000,000 | ||||||||||||||||||||
other assets | -53,000,000 | -104,000,000 | -149,000,000 | -42,000,000 | -68,000,000 | -31,000,000 | -69,000,000 | -35,000,000 | -44,000,000 | -3,000,000 | -31,000,000 | -25,000,000 | -26,000,000 | 26,000,000 | 55,000,000 | -20,000,000 | -179,000,000 | -2,000,000 | -11,000,000 | -6,000,000 | -7,000,000 | -3,000,000 | 3,000,000 | -4,000,000 | -21,000,000 | -3,000,000 | -5,000,000 | -140,000,000 | 4,000,000 | 21,000,000 | -2,000,000 | -12,000,000 | -6,000,000 | |||||||||||||||||||||||||
securities loaned | -2,280,000,000 | 5,802,000,000 | 4,335,000,000 | 646,000,000 | -570,000,000 | 1,136,000,000 | 1,466,000,000 | 2,869,000,000 | 865,000,000 | 221,000,000 | -458,000,000 | 1,779,000,000 | -550,000,000 | -1,206,000,000 | -683,000,000 | -390,000,000 | 1,234,000,000 | -1,045,000,000 | -287,000,000 | 2,029,000,000 | 4,100,000,000 | -118,000,000 | 1,812,000,000 | -366,000,000 | 455,000,000 | -146,000,000 | -149,000,000 | 213,000,000 | 203,000,000 | -257,000,000 | -80,000,000 | -273,000,000 | 500,000,000 | -335,000,000 | -326,000,000 | 347,000,000 | 869,000,000 | -493,000,000 | ||||||||||||||||||||
financial instruments sold, but not yet purchased, at fair value | 241,000,000 | 5,000,000 | 242,000,000 | -41,000,000 | -88,000,000 | -92,000,000 | 237,000,000 | 43,000,000 | -5,000,000 | 41,000,000 | -33,000,000 | 44,000,000 | -265,000,000 | 193,000,000 | 28,000,000 | 8,000,000 | -51,000,000 | 42,000,000 | 0 | 38,000,000 | -34,000,000 | -47,000,000 | 73,000,000 | -296,000,000 | -520,000,000 | 620,000,000 | 102,000,000 | -426,000,000 | -234,000,000 | 285,000,000 | 388,000,000 | -525,000,000 | 203,000,000 | -392,000,000 | -779,000,000 | -417,000,000 | -87,000,000 | 353,000,000 | ||||||||||||||||||||
payable to customers | 4,894,000,000 | 11,025,000,000 | 17,763,000,000 | 5,311,000,000 | 2,764,000,000 | 9,206,000,000 | 2,176,000,000 | 185,000,000 | 6,139,000,000 | -1,126,000,000 | 1,102,000,000 | 1,702,000,000 | 601,000,000 | 1,829,000,000 | -332,000,000 | 5,463,000,000 | 1,549,000,000 | 2,635,000,000 | 248,000,000 | 5,322,000,000 | 7,052,000,000 | 34,000,000 | 6,057,000,000 | 6,491,000,000 | 1,774,000,000 | 1,420,000,000 | 2,312,000,000 | 2,749,000,000 | -1,830,000,000 | 1,584,000,000 | 816,000,000 | -125,000,000 | 1,600,000,000 | 1,649,000,000 | 2,570,000,000 | 3,167,000,000 | 929,000,000 | 1,306,000,000 | ||||||||||||||||||||
other payables | 37,000,000 | 14,000,000 | 447,000,000 | 728,000,000 | -831,000,000 | 787,000,000 | 73,000,000 | 15,000,000 | -84,000,000 | 294,000,000 | 98,000,000 | 160,000,000 | 3,000,000 | 118,000,000 | 76,000,000 | -316,000,000 | -92,000,000 | 603,000,000 | -106,000,000 | 163,000,000 | -160,000,000 | 77,000,000 | -41,000,000 | 47,000,000 | -35,000,000 | -126,000,000 | 51,000,000 | 171,000,000 | 109,000,000 | 93,000,000 | -55,000,000 | -107,000,000 | -201,000,000 | 267,000,000 | -36,000,000 | -63,000,000 | -87,000,000 | -31,000,000 | ||||||||||||||||||||
net cash from operating activities | 1,609,000,000 | 4,479,000,000 | 7,139,000,000 | 2,584,000,000 | 1,838,000,000 | 3,582,000,000 | 1,621,000,000 | 1,683,000,000 | 2,369,000,000 | 979,000,000 | 2,119,000,000 | -923,000,000 | -30,000,000 | 2,414,000,000 | -541,000,000 | 2,125,000,000 | -375,000,000 | 1,213,000,000 | 1,324,000,000 | 3,734,000,000 | 4,596,000,000 | -174,000,000 | -1,557,000,000 | 5,203,000,000 | 488,000,000 | 133,000,000 | 1,442,000,000 | 603,000,000 | -408,000,000 | 632,000,000 | 931,000,000 | 1,201,000,000 | 73,000,000 | 509,000,000 | -209,000,000 | 102,000,000 | -110,000,000 | 122,000,000 | 242,989,000 | 56,682,000 | -550,611,000 | 622,721,000 | 728,076,000 | 187,870,000 | 216,644,000 | |||||||||||||
capital expenditures | -22,000,000 | -15,000,000 | -14,000,000 | -16,000,000 | -15,000,000 | -11,000,000 | -11,000,000 | -12,000,000 | -9,000,000 | -8,000,000 | -15,000,000 | -17,000,000 | -19,000,000 | -18,000,000 | -13,000,000 | -19,000,000 | -26,000,000 | -13,000,000 | -17,000,000 | -21,000,000 | -19,000,000 | -9,000,000 | -10,000,000 | -12,000,000 | -12,000,000 | -17,000,000 | -19,000,000 | -26,000,000 | -13,000,000 | -8,000,000 | -7,000,000 | -8,000,000 | -6,000,000 | 0 | 0 | -7,000,000 | 0 | 0 | -4,417,000 | -4,991,000 | 0 | 0 | 0 | 0 | 0 | |||||||||||||
free cash flows | 1,587,000,000 | 4,464,000,000 | 7,125,000,000 | 2,568,000,000 | 1,823,000,000 | 3,571,000,000 | 1,610,000,000 | 1,671,000,000 | 2,360,000,000 | 971,000,000 | 2,104,000,000 | -940,000,000 | -49,000,000 | 2,396,000,000 | -554,000,000 | 2,106,000,000 | -401,000,000 | 1,200,000,000 | 1,307,000,000 | 3,713,000,000 | 4,577,000,000 | -183,000,000 | -1,567,000,000 | 5,191,000,000 | 476,000,000 | 116,000,000 | 1,423,000,000 | 577,000,000 | -421,000,000 | 624,000,000 | 924,000,000 | 1,193,000,000 | 67,000,000 | 509,000,000 | -209,000,000 | 95,000,000 | -110,000,000 | 122,000,000 | 238,572,000 | 51,691,000 | -550,611,000 | 622,721,000 | 728,076,000 | 187,870,000 | 216,644,000 | |||||||||||||
cash flows from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchases of other investments | -38,000,000 | -29,000,000 | -28,000,000 | -10,000,000 | -12,000,000 | -24,000,000 | -3,000,000 | -1,000,000 | -16,000,000 | 0 | -2,000,000 | -103,000,000 | -9,000,000 | -3,000,000 | -1,000,000 | -3,000,000 | 0 | 0 | 0 | -3,000,000 | -16,000,000 | -1,000,000 | 0 | -346,855,000 | ||||||||||||||||||||||||||||||||||
distributions received and proceeds from sales of other investments | 0 | 0 | 0 | 23,000,000 | 0 | -2,000,000 | 4,000,000 | 5,000,000 | 0 | 1,000,000 | 3,000,000 | 1,000,000 | 0 | 4,000,000 | 0 | 1,000,000 | 0 | 2,000,000 | 0 | 0 | 2,000,000 | 36,000,000 | ||||||||||||||||||||||||||||||||||||
purchase of property, equipment and intangible assets | -22,000,000 | -15,000,000 | -14,000,000 | -16,000,000 | -15,000,000 | -11,000,000 | -11,000,000 | -12,000,000 | -9,000,000 | -8,000,000 | -15,000,000 | -17,000,000 | -19,000,000 | -18,000,000 | -13,000,000 | -19,000,000 | -26,000,000 | -13,000,000 | -17,000,000 | -21,000,000 | -19,000,000 | -9,000,000 | -10,000,000 | -12,000,000 | -12,000,000 | -17,000,000 | -19,000,000 | -26,000,000 | -13,000,000 | -8,000,000 | -7,000,000 | -8,000,000 | -6,000,000 | |||||||||||||||||||||||||
net cash from investing activities | -59,000,000 | -44,000,000 | -42,000,000 | -26,000,000 | 18,000,000 | -35,000,000 | -14,000,000 | -13,000,000 | -25,000,000 | -18,000,000 | -15,000,000 | 6,000,000 | -19,000,000 | -22,000,000 | -12,000,000 | -14,000,000 | -129,000,000 | -21,000,000 | -17,000,000 | -21,000,000 | -22,000,000 | -5,000,000 | -12,000,000 | -11,000,000 | -12,000,000 | -15,000,000 | -20,000,000 | -42,000,000 | -14,000,000 | -7,000,000 | -28,000,000 | -8,000,000 | -4,000,000 | -7,000,000 | -5,000,000 | 23,000,000 | -151,722,000 | 128,031,000 | 87,486,000 | -21,413,000 | 25,668,000 | 7,104,000 | -11,426,000 | |||||||||||||||
cash flows from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
short-term borrowings | 9,000,000 | 2,000,000 | -4,000,000 | -2,000,000 | -19,000,000 | 22,000,000 | -3,000,000 | -3,000,000 | 6,000,000 | -6,000,000 | 7,000,000 | -8,000,000 | -17,000,000 | 18,000,000 | 6,000,000 | -16,000,000 | -2,000,000 | -145,000,000 | 161,000,000 | -10,000,000 | -606,000,000 | 489,000,000 | 125,000,000 | -2,000,000 | 1,000,000 | 0 | -11,000,000 | -165,000,000 | 174,000,000 | 4,000,000 | 29,000,000 | -29,000,000 | -36,000,000 | 16,000,000 | 4,000,000 | 4,000,000 | ||||||||||||||||||||||
dividends paid to stockholders | -36,000,000 | -36,000,000 | -35,000,000 | -27,000,000 | -27,000,000 | -27,000,000 | -27,000,000 | -11,000,000 | -11,000,000 | -10,000,000 | -11,000,000 | -10,000,000 | -10,000,000 | -10,000,000 | -11,000,000 | -9,000,000 | -10,000,000 | -10,000,000 | -9,000,000 | -9,000,000 | -9,000,000 | -8,000,000 | -7,000,000 | -8,000,000 | -8,000,000 | -8,000,000 | -7,000,000 | -8,000,000 | -7,000,000 | -7,000,000 | -7,000,000 | -7,000,000 | -5,710,000 | |||||||||||||||||||||||||
distributions to noncontrolling interests | -156,000,000 | -196,000,000 | -288,000,000 | -196,000,000 | -139,000,000 | -172,000,000 | -281,000,000 | -123,000,000 | -103,000,000 | -111,000,000 | -223,000,000 | -119,000,000 | -189,000,000 | -61,000,000 | -140,000,000 | -48,000,000 | -34,000,000 | -24,000,000 | -125,000,000 | -35,000,000 | -40,657,000 | |||||||||||||||||||||||||||||||||||||
repurchases of common stock for employee tax withholdings | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from the sale of treasury stock | 0 | 0 | -1,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||
payments made under the tax receivable agreement | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |||||||||||||||||||||||||||||||||||||||||||
net cash from financing activities | -183,000,000 | -230,000,000 | -331,000,000 | -225,000,000 | -186,000,000 | -177,000,000 | -333,000,000 | -137,000,000 | -108,000,000 | -127,000,000 | -252,000,000 | -137,000,000 | -122,000,000 | -70,000,000 | -173,000,000 | -105,000,000 | -174,000,000 | -506,000,000 | 158,000,000 | -1,000,000 | -555,000,000 | 416,000,000 | -27,000,000 | -63,000,000 | -61,000,000 | -242,000,000 | -46,000,000 | -70,000,000 | -58,000,000 | -222,000,000 | -55,000,000 | -64,000,000 | -133,000,000 | -84,000,000 | -77,000,000 | 10,000,000 | -170,000,000 | -38,000,000 | -2,198,000 | -278,914,000 | ||||||||||||||||||
effect of exchange rate changes on cash, cash equivalents and restricted cash | 16,000,000 | -38,000,000 | 306,000,000 | 107,000,000 | -248,000,000 | 153,000,000 | -10,000,000 | -102,000,000 | 148,000,000 | -76,000,000 | 31,000,000 | 19,000,000 | 158,000,000 | -123,000,000 | -105,000,000 | -41,000,000 | -2,000,000 | |||||||||||||||||||||||||||||||||||||||||
net increase in cash, cash equivalents and restricted cash | 1,383,000,000 | 4,167,000,000 | 7,072,000,000 | 2,440,000,000 | 1,422,000,000 | 3,523,000,000 | 1,264,000,000 | 1,431,000,000 | 2,384,000,000 | 758,000,000 | 1,883,000,000 | -1,035,000,000 | -13,000,000 | 2,199,000,000 | -831,000,000 | 1,965,000,000 | -680,000,000 | |||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at beginning of period | 0 | 0 | 0 | 40,233,000,000 | 0 | 0 | 0 | 32,593,000,000 | 0 | 0 | 0 | 28,603,000,000 | 0 | 0 | 0 | 25,283,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash at end of period | 1,383,000,000 | 4,167,000,000 | 7,072,000,000 | 42,673,000,000 | 1,422,000,000 | 3,523,000,000 | 1,264,000,000 | 34,024,000,000 | 2,384,000,000 | 758,000,000 | 1,883,000,000 | 27,568,000,000 | -13,000,000 | 2,199,000,000 | -831,000,000 | 27,248,000,000 | -680,000,000 | |||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents and restricted cash | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents | -165,000,000 | 440,000,000 | 1,188,000,000 | 3,500,000,000 | 38,000,000 | -323,000,000 | -145,000,000 | 4,063,000,000 | -71,000,000 | 143,000,000 | 467,000,000 | 3,214,000,000 | 252,000,000 | 303,000,000 | 214,000,000 | 2,667,000,000 | -443,000,000 | -380,000,000 | 591,000,000 | 2,627,000,000 | 1,000,000,000 | 177,000,000 | 14,000,000 | 3,101,000,000 | -153,000,000 | -127,000,000 | 616,000,000 | 2,546,000,000 | -465,000,000 | 562,000,000 | 599,000,000 | 1,901,000,000 | ||||||||||||||||||||||||||
cash segregated for regulatory purposes | 1,548,000,000 | 3,727,000,000 | 5,884,000,000 | 39,173,000,000 | 1,384,000,000 | 3,846,000,000 | 1,409,000,000 | 29,961,000,000 | 2,455,000,000 | 615,000,000 | 1,416,000,000 | 24,354,000,000 | -265,000,000 | 1,896,000,000 | -1,045,000,000 | 24,581,000,000 | -237,000,000 | 1,026,000,000 | 895,000,000 | 21,204,000,000 | 3,114,000,000 | 105,000,000 | -1,588,000,000 | 14,272,000,000 | 606,000,000 | -25,000,000 | 776,000,000 | 8,043,000,000 | -20,000,000 | -163,000,000 | 171,000,000 | 7,515,000,000 | ||||||||||||||||||||||||||
supplemental disclosures of cash flow information | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash paid for interest | 1,101,000,000 | 1,101,000,000 | 1,044,000,000 | 963,000,000 | 1,071,000,000 | 1,079,000,000 | 1,034,000,000 | 1,006,000,000 | 942,000,000 | 891,000,000 | 818,000,000 | 666,000,000 | 452,000,000 | 248,000,000 | 83,000,000 | 50,000,000 | 57,000,000 | 50,000,000 | 36,000,000 | 79,000,000 | 52,000,000 | 45,000,000 | 58,000,000 | 129,000,000 | 139,000,000 | 188,000,000 | 169,000,000 | 158,000,000 | 136,000,000 | 113,000,000 | 106,000,000 | 89,000,000 | 59,000,000 | 47,000,000 | 30,000,000 | 21,000,000 | 17,000,000 | 18,000,000 | 22,761,000 | 11,102,000 | 13,788,000 | 11,845,000 | 14,356,000 | 14,460,000 | 15,002,000 | 17,581,000 | 18,585,000 | 24,595,000 | 15,690,000 | 17,619,000 | 16,571,000 | 72,347,000 | 105,399,000 | 124,432,000 | ||||
cash paid for taxes | 65,000,000 | 58,000,000 | 153,000,000 | 40,000,000 | 66,000,000 | 61,000,000 | 120,000,000 | 32,000,000 | 66,000,000 | 37,000,000 | 75,000,000 | 50,000,000 | 59,000,000 | 24,000,000 | 49,000,000 | 16,000,000 | 27,000,000 | 44,000,000 | 19,000,000 | 24,000,000 | 21,000,000 | 22,000,000 | 6,000,000 | 15,000,000 | 10,000,000 | 14,000,000 | 15,000,000 | 12,000,000 | 15,000,000 | 9,000,000 | 13,000,000 | 13,000,000 | 14,000,000 | 10,000,000 | 7,000,000 | 11,000,000 | 1,000,000 | 5,000,000 | 5,677,000 | -5,707,000 | 26,533,000 | 8,270,000 | 16,345,000 | 20,628,000 | 6,890,000 | 12,223,000 | 6,239,000 | 14,398,000 | 3,598,000 | 52,383,000 | 8,276,000 | 27,886,000 | 36,751,000 | 13,655,000 | ||||
cash paid for amounts included in lease liabilities | 11,000,000 | 10,000,000 | 11,000,000 | 10,000,000 | 8,000,000 | 11,000,000 | 8,000,000 | 12,000,000 | 9,000,000 | 9,000,000 | 8,000,000 | 9,000,000 | 9,000,000 | 7,000,000 | 8,000,000 | 8,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 6,000,000 | 5,000,000 | 6,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||||||||||||||||||||
non-cash financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of common stock in exchange of member interests in ibg llc | 0 | 0 | 0 | 0 | 0 | 557,000,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
redemption of member interests from ibg holdings llc | 0 | 0 | 0 | 0 | 0 | -557,000,000 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to additional paid-in capital for changes in proportionate ownership in ibg llc | 2,000,000 | 0 | 45,000,000 | 1,000,000 | 1,000,000 | 2,000,000 | 37,000,000 | 1,000,000 | 1,000,000 | 0 | 30,000,000 | 2,000,000 | 1,000,000 | 0 | 25,000,000 | 1,000,000 | 1,000,000 | 0 | 23,000,000 | 1,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,089,000 | 26,739,000 | 393,000 | 637,000 | ||||||||||||||||||||||||||
adjustments to noncontrolling interests for changes in proportionate ownership in ibg llc | -2,000,000 | 0 | -45,000,000 | -1,000,000 | -1,000,000 | -2,000,000 | -37,000,000 | -1,000,000 | -1,000,000 | 0 | -30,000,000 | -2,000,000 | -1,000,000 | 0 | -25,000,000 | -1,000,000 | -1,000,000 | 0 | -23,000,000 | -1,000,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1,089,000 | 125,000 | ||||||||||||||||||||||||||||
non-cash distributions to noncontrolling interests | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
advertising expenses paid by noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
securities sold under agreement to repurchase | 300,000,000 | 0 | 0 | 0 | -1,909,000,000 | 0 | 0 | 0 | -1,316,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
bad debt expense | 5,000,000 | 0 | -1,000,000 | 3,000,000 | 0 | 1,000,000 | 1,000,000 | 1,000,000 | 0 | 0 | 1,000,000 | 2,000,000 | 0 | 3,000,000 | 3,000,000 | 7,000,000 | -1,000,000 | -2,000,000 | 4,000,000 | 43,000,000 | 2,000,000 | -1,000,000 | 0 | 3,000,000 | 0 | 1,000,000 | 1,000,000 | 3,000,000 | 1,491,000 | 270,000 | 743,000 | |||||||||||||||||||||||||||
impairment loss | 0 | 1,000,000 | 0 | 0 | 0 | 0 | 0 | 1,000,000 | 0 | |||||||||||||||||||||||||||||||||||||||||||||||||
unrealized (gains) losses on other investments | 8,000,000 | -3,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
gain on remeasurement of tax receivable agreement liability | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuances of senior notes | 0 | 191,000,000 | 635,000,000 | 602,000,000 | 127,632,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
redemptions of senior notes | 0 | -443,000,000 | -583,000,000 | -498,000,000 | -106,668,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
securities – segregated for regulatory purposes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized loss on other investments | -5,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions from ibg llc to noncontrolling interests | -95,000,000 | -78,000,000 | -151,000,000 | -80,000,000 | -144,000,000 | -99,000,000 | -45,000,000 | -86,000,000 | -36,000,000 | -65,000,000 | -129,000,000 | -53,000,000 | -54,000,000 | -205,000,000 | -38,000,000 | -60,000,000 | -40,000,000 | |||||||||||||||||||||||||||||||||||||||||
repurchases of common stock for employee tax withholdings under stock incentive plans | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||
unrealized gain on other investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash, cash equivalents, and restricted cash | 21,000,000 | -76,000,000 | 95,000,000 | 45,000,000 | 22,000,000 | -38,000,000 | 38,000,000 | -28,000,000 | -5,000,000 | -4,000,000 | -78,000,000 | 8,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||
net increase in cash, cash equivalents, and restricted cash | 1,486,000,000 | 3,636,000,000 | 4,114,000,000 | 282,000,000 | -1,574,000,000 | 5,091,000,000 | 453,000,000 | -152,000,000 | 1,392,000,000 | 489,000,000 | -485,000,000 | 399,000,000 | 770,000,000 | 1,137,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents, and restricted cash at beginning of period | 0 | 20,195,000,000 | 0 | 0 | 0 | 12,282,000,000 | 0 | 0 | 0 | 10,100,000,000 | 0 | 0 | 0 | 8,279,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents, and restricted cash at end of period | 1,486,000,000 | 23,831,000,000 | 4,114,000,000 | 282,000,000 | -1,574,000,000 | 17,373,000,000 | 453,000,000 | -152,000,000 | 1,392,000,000 | 10,589,000,000 | -485,000,000 | 399,000,000 | 770,000,000 | 9,416,000,000 | ||||||||||||||||||||||||||||||||||||||||||||
cash, cash equivalents, and restricted cash | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
unrealized (gain) loss on other investments | -108,000,000 | -42,000,000 | -10,000,000 | -17,000,000 | 19,000,000 | 14,000,000 | 10,000,000 | 74,000,000 | -106,000,000 | -2,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
(gain) loss on remeasurement of tax receivable agreement liability | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
securities sold under agreements to repurchase | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash and securities - segregated for regulatory purposes | 621,000,000 | 523,000,000 | -693,000,000 | 7,000,000 | -1,749,000,000 | -2,199,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
effect of exchange rate changes on cash and cash equivalents | 5,000,000 | 38,000,000 | 23,000,000 | 2,000,000 | -19,000,000 | 39,000,000 | -77,940,000 | 11,030,000 | 3,488,000 | 23,428,000 | 3,295,000 | -6,347,000 | -9,852,000 | 31,459,000 | ||||||||||||||||||||||||||||||||||||||||||||
net increase in cash and cash equivalents | -59,000,000 | 459,000,000 | -269,000,000 | 146,000,000 | 132,800,000 | 180,673,000 | 260,823,000 | 43,661,000 | -240,005,000 | -264,123,000 | 173,611,000 | |||||||||||||||||||||||||||||||||||||||||||||||
cash and cash equivalents at beginning of period | 0 | 0 | 1,925,000,000 | 0 | 0 | 1,601,000,000 | 0 | 0 | 1,213,241,000 | 0 | 0 | 1,614,592,000 | 0 | 0 | 1,695,495,000 | 0 | 0 | 0 | 806,560,000 | 943,497,000 | 0 | 0 | 521,776,000 | 0 | 669,271,000 | |||||||||||||||||||||||||||||||||
cash and cash equivalents at end of period | -59,000,000 | 459,000,000 | 1,656,000,000 | 107,000,000 | -304,000,000 | 1,747,000,000 | 11,129,000 | 8,191,000 | 991,439,000 | 133,671,000 | 229,981,000 | 1,184,868,000 | -344,000,000 | 452,106,000 | 1,551,399,000 | 132,800,000 | 180,673,000 | 260,823,000 | 850,221,000 | 703,492,000 | 39,784,000 | -264,123,000 | 695,387,000 | 260,810,000 | 607,776,000 | |||||||||||||||||||||||||||||||||
non-cash distribution to noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchase of property and equipment | -7,000,000 | -4,417,000 | -4,991,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
excess tax benefit on stock incentive plans | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net decrease in cash and cash equivalents | 11,129,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided by | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
losses (gains) on other investments | 5,399,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
change in operating assets and liabilities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash and securities - segregated for regulatory purposes | 225,733,000 | -456,225,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in securities borrowed | 544,177,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in securities purchased under agreements to resell | 785,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in financial instruments owned, at fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in receivables from customers | -1,935,988,000 | -258,417,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in other assets | -7,219,000 | -10,660,000 | -7,597,000 | 27,562,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in financial instruments sold, but not yet purchased, at fair value | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in securities loaned | 183,991,000 | 1,182,000 | 367,569,000 | -273,714,000 | 269,885,000 | 358,227,000 | 74,884,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||
increase in payable to customers | 1,554,977,000 | 1,435,530,000 | 656,152,000 | 1,854,447,000 | -106,002,000 | 1,638,930,000 | 708,102,000 | 1,149,004,000 | 677,017,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
decrease in other payables | -295,037,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
proceeds from sales of other investments | 199,550,000 | 145,499,000 | 152,561,000 | 45,711,000 | 89,300,000 | 67,234,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions received from and redemptions of equity investments | 0 | 0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash flows from financing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in short-term borrowings | 8,968,000 | 51,809,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
supplemental disclosures of cash flow information: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in financial instruments owned | 190,108,000 | 1,020,583,000 | -11,066,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in other receivables | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in financial instruments sold but not yet purchased | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in other payables | 1,619,818,000 | 493,791,000 | 639,544,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in short-term borrowings | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
losses on other investments | 133,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in cash and securities - segregated for regulatory purposes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in securities purchased under agreements to resell | 103,568,000 | 311,844,000 | -52,804,000 | 35,001,000 | 0 | 97,740,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in other receivables | 28,323,000 | 677,100,000 | -10,655,000 | -641,233,000 | 916,828,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in financial instruments sold but not yet purchased | 16,879,000 | 76,519,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid to shareholders | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid to noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
translation losses | 14,496,000 | 4,529,000 | 814,000 | -34,745,000 | 47,770,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
bad debt expense and other | 1,129,000 | 889,000 | 454,000 | 725,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes in redemption value of redeemable noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
changes to total equity (deficit) for the change in the redemption value of redeemable noncontrolling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
see accompanying notes to the unaudited condensed consolidated financial statements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(gains) losses on other investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in securities purchased under agreements to resell | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash used in | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in financial instruments owned | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distribution received from equity investment | 11,054,000 | 1,130,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to additional paid in capital for changes in proportionate ownership in ibg llc | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to non-controlling interests for changes in proportionate ownership in ibg llc | 38,000 | 6,102,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash from operating | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
translation losses - | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
losses on non-trading investments | 636,000 | 11,573,000 | 1,921,000 | 642,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in securities borrowed | 2,370,088,000 | 466,994,000 | 1,371,198,000 | 322,405,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in trading assets | 308,237,000 | -965,823,000 | 2,436,983,000 | 1,672,840,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in trading liabilities | -3,522,643,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sale of investments | -7,565,000 | 310,000 | 0 | 300,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid to non-controlling interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemption of former member interest | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
reduction in non-controlling interest in subsidiary | 22,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
issuance of senior notes | 109,704,000 | 124,699,000 | 110,911,000 | 112,816,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
borrowings under senior secured credit facility | 250,000,000 | 0 | 300,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
repayments of senior secured credit facility | -300,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid to ibg holdings llc | -33,781,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
interest paid | 20,860,000 | 140,926,000 | 134,178,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
taxes paid | 68,664,000 | -3,994,000 | 5,279,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from operating activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from investing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash from financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash and cash equivalents | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
translation gains | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
minority interest | 287,859,000 | 212,420,000 | 313,349,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
other | 2,548,000 | 441,000 | 1,048,000 | 468,000 | 29,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in trading liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease in securities loaned | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
puchase of ibg llc historical member interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
puchase of trading rights | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net proceeds from issuance of class a and class b common stock | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
class a common stock acquired from employees | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid by ibg llc prior to ipo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid to ibg holdings llc subsequent to ipo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
cash capital contribution to the | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ipo related transactions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
deferred tax asset arising from ipo | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
payable to affiliate | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net tax benefit retained, recorded as additional paid in capital | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
non-cash investing activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
refinancing of bridge loan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends received from ibg llc | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
net used in financing activities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in trading assets | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchase of ibg llc historical member interests | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
distributions received from investment in exchange | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
sale of trading rights | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid by ibg llc prior to may 4, 2007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid to ibg holdings llc after may 3, 2007 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
members’ contributions to ibg llc | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ibg llc member interests redeemed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
adjustments to reconcile net income to net cash provided by in operating activities: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
purchase of investments | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
redemptions from senior notes | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
ibg llc member interests redeeemed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
translation (gains) losses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
loss (income) from equity investments in exchanges | 591,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in cash and securities — segregated for regulatory | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
decrease (increase) in trading assets | 1,162,118,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
increase in securities sold under agreements to repurchase | 17,093,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
members’ contributions | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
members’ interests redeeemed | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
dividends paid | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
refinancing of bridge loan receivable | 10,018,000 |