INTL FCStone 2014 Annual Report Download - page 124

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INTL FCSTONE INC. Form 10K108
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,
2014 2013 2012
Revenues:
Management fees from affiliates $ 9.5 $ 7.3 $ 7.1
Consulting fees 1.6 1.6 0.2
Interest income 4.3 3.6 2.1
Other income(2) — 1.9 0.1
Total revenues 15.4 14.4 9.5
Interest expense 10.6 7.1 5.6
Net revenues 4.8 7.3 3.9
Non-interest expenses:
Compensation and benefits 29.8 30.5 12.4
Clearing and related expenses 0.3 0.5 0.3
Introducing broker commissions 0.3 0.5 —
Communication and data services 1.3 0.9 0.6
Occupancy and equipment rental 2.0 1.4 1.0
Professional fees 5.0 2.3 3.1
Travel and business development 1.1 1.2 1.4
Depreciation and amortization 1.8 1.5 1.2
Bad debts and impairments 0.1 — 2.2
Other 6.4 6.3 5.4
Total non-interest expenses 48.1 45.1 27.6
Loss from continuing operations, before tax (43.3) (37.8) (23.7)
Income tax benefit 17.1 13.2 9.2
Net loss $ (26.2) $ (24.6) $ (14.5)
(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 $45.5 million, $43.9 million, and $27.3 million, for the
years ended September 30, 2014, 2013 and 2012, respectively.
Certain amounts previously reported have been reclassified to conform to the current period presentation.