INTL FCStone 2014 Annual Report Download - page 111

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INTL FCSTONE INC. Form 10K 95
PART II
ITEM 8 Financial Statements and Supplementary Data
Defined Contribution Retirement Plans
U.K. based employees of INTL FCStone are eligible to participate
in a defined contribution pension plan. e Company contributes
double the employee’s contribution up to 10% of total base
salary for this plan. For this plan, employees are 100% vested
in both the employee and employer contributions at all times.
e Company offers participation in the INTL FCStone Inc.
401(k) Plan (“401(k) Plan”), a defined contribution plan providing
retirement benefits, to all domestic employees who have reached
21 years of age, and provided four months of service to the
Company. Employees may contribute from 1% to 80% of their
annual compensation to the 401(k) Plan, limited to a maximum
annual amount as set periodically by the Internal Revenue
Service. e Company makes matching contributions to the
401(k) Plan in an amount equal to 62.5% of each participant’s
eligible elective deferral contribution to the 401(k) Plan, up to
8%. Matching contributions vest, by participant, based on the
following years of service schedule: less than two years – none,
two to three years – 20%, three to four years – 40%, four to five
years – 60%, and greater than five years – 100%.
For fiscal years ended September 30, 2014, 2013 and 2012, the
Company’s contribution to these defined contribution plans
were $4.1 million, $4.0 million and $3.7 million, respectively.
NOTE 16 Other Expenses
Other expenses for the years ended September 30, 2014, 2013 and 2012 are comprised of the following:
(in millions)
Year Ended September 30,
2014 2013 2012
Contingent consideration, net(1) $ (2.0) $ 3.0 $ 2.9
Insurance 1.6 1.7 1.6
Advertising, meetings and conferences 3.1 2.3 2.4
Non-trading hardware and software maintenance and software
licensing 3.8 2.8 2.2
Office supplies and printing 1.1 1.2 1.3
Other clearing related expenses 1.2 1.6 1.7
Other non-income taxes 3.9 3.8 4.0
Other 5.7 6.7 5.3
Total other expenses $ 18.4 $ 23.1 $ 21.4
(1) Contingent consideration includes remeasurement of contingent liabilities related to business combinations accounted for in accordance with the provisions of the
Business Combinations Topic of the ASC (see Note 3).
NOTE 17 Income Taxes
Income tax expense (benefit) for the years ended September 30, 2014, 2013 and 2012 was allocated as follows:
(in millions)
Year Ended September 30,
2014 2013 2012
Income tax expense attributable to income from continuing operations $ 6.4 $ 2.6 $ 5.5
Income tax (benefit) expense attributable to loss from discontinued
operations (0.2) 0.7 (2.4)
Taxes allocated to stockholders’ equity, related to unrealized gains
(losses) on available-for-sale securities 0.1 (1.6) 2.2
Taxes allocated to stockholders’ equity, related to pension liabilities (0.5) 1.8 (1.0)
Taxes allocated to additional paid-in capital, related to share-based
compensation 0.1 — (0.2)
Total income tax expense $ 5.9 $ 3.5 $ 4.1