INTL FCStone 2011 Annual Report Download - page 86

Download and view the complete annual report

Please find page 86 of the 2011 INTL FCStone annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 142

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142

INTL FCSTONE INC.Form10K72
PART II
ITEM 8 Consolidated Financial Statements and Supplementary Data
Information on Level 3 Financial Assets and Liabilities
e Company’s fi nancial assets at fair value classifi ed within level3 of the fair value hierarchy as of September30,2011 and 2010
are summarized below:
(in millions)
September30,2011 September30,2010
Total level3 assets $ 5.1 $ 10.2
Level3 assets for which the Company bears economic exposure $ 5.1 $ 10.2
Total assets $ 2,635.7 $ 2,021.7
Total fi nancial assets at fair value $ 1,682.9 $ 1,409.3
Total level3 assets as a percentage of total assets 0.2% 0.5%
Level3 assets for which the Company bears economic exposure as a percentage of total assets 0.2% 0.5%
Total level3 assets as a percentage of total fi nancial assets at fair value 0.3% 0.7%
e following tables set forth a summary of changes in the fair value of the Company’s level3 fi nancial assets and liabilities during
the fi scal years ended September30,2011 and 2010, including a summary of unrealized gains (losses) during the fi scal year ended
on the Company’s level3 fi nancial assets and liabilities still held as of September30,2011.
(in millions)
Level3 Financial Assets and Financial Liabilities
For the Year Ended September30,2011
Balances at
beginning of
period
Realized gains
(losses) during
period
Unrealized
gains (losses)
during period
Purchases,
issuances,
settlements
Transfers in
or (out) of
Level3
Balances at
end of period
ASSETS:
Common stock and ADRs $ 1.2 $ — $ (0.1) $ — $ — $ 1.1
Corporate and municipal bonds 8.0 — (1.7) (2.7) — 3.6
U.S. and foreign government obligations — — — — — —
Mutual funds and other 0.4 — — — — 0.4
Investment in managed funds 0.6 0.2 — (0.8) — —
$ 10.2 $ 0.2 $ (1.8)$(3.5)$—$ 5.1
LIABILITIES:
CONTINGENT LIABILITIES $ 32.3 $ —$(2.9)$(7.1)$—$ 22.3
(in millions)
Level3 Financial Assets and Financial Liabilities
For the Year Ended September30,2010
Balancesat
beginningof
period
Realizedgains
(losses)during
period
Unrealized
gains(losses)
duringperiod
Purchases,
issuances,
settlements
Transfersin
or(out)of
Level3
Balancesat
endofperiod
ASSETS:
Common stock and ADRs $ 1.2 $ — $ — $ — $ — $ 1.2
Corporate and municipal bonds 4.3 — 0.5 3.2 — 8.0
U.S. and foreign government obligations 0.7 — — — (0.7) —
Mutual funds and other 0.4 — — — — 0.4
Investment in managed funds 2.7 — (0.3) (1.8) — 0.6
$ 9.3 $ —$ 0.2 $ 1.4 $ (0.7)$ 10.2
LIABILITIES:
CONTINGENT LIABILITIES $ —$—$—$32.3 $ —$ 32.3
In August2008, INTL Asia Pte,Ltd., a subsidiary of the Company,
arranged a 550million ai Baht (“THB”), an $18million U.S.
dollar (“USD”) equivalent, issue of debentures for the single
asset owning company of Suriwongse Hotel located in Chiang
Mai, ailand. e debentures have a 9.5% coupon and were
scheduled to mature in August2011. e Company arranged
for the sale of 375.5million THB ($12.6million USD) of the
debentures to two investors and the Company retained debentures
in the amount of 174.5million THB ($5.4million USD). e
debentures were secured by a mortgage on the land and hotel
buildings, the personal guarantee of the owner, and conditional
assignments of accounts and agreements.