INTL FCStone 2012 Annual Report Download - page 43
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Please find page 43 of the 2012 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.INTL FCSTONE INC.Form10K 27
PART II
ITEM 6 Selected Financial Data
e Company has never declared any cash dividends on its
common stock, and does not currently have any plans to pay
dividends on its common stock. e payment of cash dividends
in the future is subject to the discretion of the Board of Directors
and will depend on the Company’s earnings, nancial condition,
capital requirements, contractual restrictions and other relevant
factors. e Company’s credit agreements currently prohibit the
payment of cash dividends by the Company.
On August 12, 2011, the Company’s Board of Directors authorized
the repurchase of up to one million shares of the Company’s
outstanding common stock from time to time in open market
purchases and private transactions as permitted by securities laws.
e Company’s common stock repurchase program activity for
the three months ended September30, 2012 was as follows:
Period
Total Number
of Shares
Purchased
Average Price
Paid per Share
Total Number of Shares
Purchased as Part of Publicly
Announced Program
Maximum Number of Shares
Remaining to be Purchased
Underthe Program
July 1, 2012 to July 31, 2012 — $ — — 849,700
August 1, 2012 to August 31, 2012 50,000 18.31 50,000 799,700
September 1, 2012 to September 30, 2012 17,507 18.04 17,507 782,193
TOTAL 67,507 $ 18.24 67,507
On November 15, 2012, the Company’s Board of Directors replaced
the August 12, 2011 authorized repurchase of up to 1.0 million
shares of its outstanding common stock with an authorization to
repurchase up to 1.5 million shares of its outstanding common
stock from time to time in open market purchases and private
transactions, subject to the discretion of the senior management
team to implement the Company’s stock repurchase plan, and
subject to market conditions and as permitted by securities laws
and other legal and regulatory requirements.
Information relating to compensation plans under which our
equity securities are authorized for issuance is set forth in Part III,
Item 12 of our Annual Report on Form 10-K.
ITEM 6 Selected Financial Data
e following selected nancial and operating data are derived
from our consolidated nancial statements and should be read
in conjunction with Management’s Discussion and Analysis of
Financial Condition and Results of Operations, included in Item
7 and our Consolidated Financial Statements included in Item 8.
e consolidated income statement data for 2012, 2011 and 2010
re ects the results of FCStone, which was acquired on September
30, 2009. e consolidated income statement data for 2009 and
2008 does not include the historical results of FCStone. e
selected consolidated balance sheet information as of September
30, 2012, 2011, 2010 and 2009 re ect the nancial condition of
INTL after the FCStone transaction. eselected consolidated
balance sheet information as of September 30, 2008 does not
include the nancial condition of FCStone.
SELECTED SUMMARY FINANCIAL INFORMATION U.S. GAAP
(in millions, except share and per share amounts)
Year Ended September 30,
2012 2011 2010 2009 2008
Operating revenues $ 457.7 $ 423.2 $ 269.0 $ 90.6 $ 114.9
Interest expense 11.6 11.3 9.9 8.0 11.2
Non-interest expenses:
Compensation and bene ts 202.4 176.6 104.2 40.2 35.6
Clearing and related expenses 107.2 77.4 68.2 16.0 13.1
Introducing broker commissions 31.0 24.0 18.9 — —
Other 86.2 74.4 49.9 13.1 12.7
Income from continuing operations, before tax 19.3 59.5 17.9 13.3 42.3
Income tax expense 4.4 22.5 6.4 2.6 16.2
Income (loss) from discontinued operations, net of tax — 0.2 0.6 (1.1) 1.0
Income before extraordinary (loss) income 14.9 37.2 12.1 9.6 27.1
Extraordinary (loss) income — — (7.0) 18.5 —
Net income 14.9 37.2 5.1 28.1 27.1
Add: Net loss (income) attributable
tononcontrollinginterests 0.1 0.1 0.3 (0.5) 0.7
Net income attributable to INTL FCStone Inc. common
stockholders $ 15.0 $ 37.3 $ 5.4 $ 27.6 $ 27.8