INTL FCStone 2012 Annual Report Download - page 71
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PART II
ITEM 8 Financial Statements and Supplementary Data
Consolidated Income Statements
(in millions, except share and per share amounts)
Year Ended September 30,
2012 2011 2010
Revenues:
Sales of physical commodities $ 68,812.5 $ 75,123.4 $ 46,709.2
Trading gains, net 248.4 205.7 86.5
Commission and clearing fees 161.0 134.5 119.9
Consulting and management fees 27.9 22.7 17.2
Interest income 10.3 10.3 7.0
Other income 0.5 1.0 0.5
Total revenues 69,260.6 75,497.6 46,940.3
Cost of sales of physical commodities 68,802.9 75,074.4 46,671.3
Operating revenues 457.7 423.2 269.0
Interest expense 11.6 11.3 9.9
Net revenues 446.1 411.9 259.1
Non-interest expenses:
Compensation and bene ts 202.4 176.6 104.2
Clearing and related expenses 107.2 77.4 68.2
Introducing broker commissions 31.0 24.0 18.9
Communication and data services 22.6 15.5 11.1
Occupancy and equipment rental 11.0 8.9 6.2
Professional fees 12.9 10.6 8.1
Depreciation and amortization 7.2 4.7 1.6
Bad debts and impairments 1.5 6.2 5.8
Other 31.0 28.5 17.1
Total non-interest expenses 426.8 352.4 241.2
Income from continuing operations, before tax 19.3 59.5 17.9
Income tax expense 4.4 22.5 6.4
Net income from continuing operations 14.9 37.0 11.5
Income from discontinued operations, net of tax — 0.2 0.6
Income before extraordinary loss 14.9 37.2 12.1
Extraordinary loss — — (7.0)
Net income 14.9 37.2 5.1
Add: Net loss attributable to noncontrolling interests 0.1 0.1 0.3
NET INCOME ATTRIBUTABLE TO INTL FCSTONE INC.
COMMON STOCKHOLDERS $ 15.0 $ 37.3 $ 5.4
Basic earnings per share:
Income from continuing operations attributable to INTL FCStone Inc.
common stockholders $ 0.79 $ 2.06 $ 0.68
Income from discontinued operations attributable to INTL FCStone Inc.
common stockholders — 0.01 0.03
Extraordinary loss attributable to INTL FCStone Inc. common stockholders — — (0.40)
NET INCOME ATTRIBUTABLE TO INTL FCSTONE INC.
COMMON STOCKHOLDERS $ 0.79 $ 2.07 $ 0.31
Diluted earnings per share:
Income from continuing operations attributable to INTL FCStone Inc.
common stockholders $ 0.75 $ 1.95 $ 0.66
Income from discontinued operations attributable to INTL FCStone Inc.
common stockholders — 0.01 0.03
Extraordinary loss attributable to INTL FCStone Inc. common stockholders — — (0.39)
NET INCOME ATTRIBUTABLE TO INTL FCSTONE INC.
COMMON STOCKHOLDERS $ 0.75 $ 1.96 $ 0.30
Weighted-average number of common shares outstanding:
BASIC 18,282,939 17,618,085 17,306,019
DILUTED 19,156,899 18,567,454 17,883,233
Amounts attributable to INTL FCStone Inc. common stockholders:
Income from continuing operations, net of tax $ 15.0 $ 37.1 $ 11.8
Income from discontinued operations, net of tax — 0.2 0.6
Extraordinary loss — — (7.0)
NET INCOME $ 15.0 $ 37.3 $ 5.4
See accompanying notes to consolidated financial statements.