INTL FCStone 2013 Annual Report Download - page 133

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INTLFCSTONEINC.Form10K112
PART II
SCHEDULE IINTL FCStone Inc. Condensed Statements of Operations
SCHEDULE I INTL FCStone Inc. Condensed
Statements of Operations
Parent Company Only
(in millions)
Year Ended September 30,
2013 2012 2011
Revenues:
Trading gains, net $ 7.2 $ 7.1 $ 3.1
Consulting and management fees 1.6 0.2 —
Interest income 3.6 2.1 4.3
Other income(2) 2.0 0.1 0.4
Total revenues 14.4 9.5 7.8
Interest expense 7.1 5.6 9.7
Net revenues 7.3 3.9 (1.9)
Non-interest expenses:
Compensation and benets 30.5 12.4 8.6
Clearing and related expenses 0.5 0.3 0.1
Introducing broker commissions 0.5 — 0.2
Communication and data services 0.9 0.6 0.5
Occupancy and equipment rental 1.4 1.0 1.2
Professional fees 2.3 3.1 3.8
Travel and business development 1.2 1.4 0.5
Depreciation and amortization 1.5 1.2 0.6
Bad debts and impairments — 2.2 —
Other 6.3 5.4 (1.0)
Total non-interest expenses 45.1 27.6 14.5
Loss from continuing operations, before tax (37.8) (23.7) (16.4)
Income tax benet 13.2 9.2 6.4
NET LOSS $24.6 $ 14.5 $ 10.0
(2) Within the Condensed Balance Sheets and Condensed Statements of Operations of INTL FCStone Inc. - Parent Company Only, the Company has accounted for its
investment in wholly owned subsidiaries using the cost method of accounting. Under this method, the Company’s share of the earnings or losses of such subsidiaries
are not included in the Condensed Balance Sheet or Condensed Statements of Operations. If the accounting for its investment in wholly owned subsidiaries were
presented under the equity method of accounting, revenues would include income from investment in subsidiaries of $43.9 million, $27.3 million, as restated, and
$44.8 million, as restated, for the years ended September 30, 2013, 2012 and 2011, respectively.
Certain amounts previously reported have been reclassied to conform to the current period presentation.