| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net income | |||||||||||
1,089 | 1,125 | 793 | 699 | 415 | 459 | 418 | 496 | 687 | 277 | 484 | 1,121 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||||||
Translation losses (gains) | |||||||||||
- | - | - | - | - | - | - | - | - | 254 | 10 | 59 |
Deferred income taxes | |||||||||||
24 | 21 | 147 | 27 | 15 | 18 | 11 | 17 | 25 | 5 | -22 | 50 |
Depreciation and amortization | |||||||||||
31 | 26 | 25 | 25 | 22 | 20 | 19 | 19 | 18 | 18 | 21 | 17 |
Amortization of right-of-use assets | |||||||||||
21 | - | - | - | - | - | - | - | - | - | - | - |
Employee stock plan compensation | |||||||||||
60 | 58 | 53 | 51 | 50 | 41 | 41 | 67 | 49 | 41 | 39 | 25 |
Unrealized (gain) loss on other investments, net | |||||||||||
8 | -2 | 4 | -1 | -7 | -10 | 6 | 2 | 36 | 3 | 8 | - |
Gain on remeasurement of Tax Receivable Agreement liability | |||||||||||
- | 3 | 93 | - | - | - | - | - | - | - | - | - |
Bad debt expense | |||||||||||
-44 | -4 | -2 | -6 | -146 | -3 | 67 | 0 | 8 | 2 | -0 | - |
Impairment loss | |||||||||||
1 | 1 | 21 | - | - | - | - | - | - | - | - | - |
Change in operating assets and liabilities: | |||||||||||
Securities - segregated for regulatory purposes | |||||||||||
2,229 | 1,910 | -4,708 | 2,617 | - | - | - | - | - | - | - | - |
Cash and securities - segregated for regulatory purposes | |||||||||||
- | - | - | - | 5,905 | 1,409 | 1,275 | 2,235 | -2,262 | -977 | -1,608 | -69 |
Losses on non-trading investments, net | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 14 |
Bad debt expense and other | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 20 |
Securities borrowed | |||||||||||
585 | 374 | -672 | -295 | 264 | 908 | 82 | -171 | 630 | 1,759 | 855 | 956 |
Securities purchased under agreements to resell | |||||||||||
1,869 | -793 | 1,924 | -84 | -191 | - | 43 | -53 | -39 | -105 | 174 | -371 |
Financial instruments owned, at fair value | |||||||||||
-210 | -1,034 | -886 | 647 | -568 | -468 | -96 | -2,070 | 807 | 1,873 | 1,810 | 5,764 |
Receivables from customers | |||||||||||
-4,332 | 2,800 | -10,414 | -2,365 | -144 | -3,458 | -3,746 | -2,826 | -51 | -3,736 | -1,618 | 295 |
Other receivables | |||||||||||
-4 | -92 | -158 | 342 | -413 | 283 | 17 | -550 | -666 | -252 | 2,053 | 26 |
Other assets | |||||||||||
169 | -11 | 3 | -3 | -13 | -36 | -75 | -2 | 13 | 13 | 1 | 12 |
Securities loaned | |||||||||||
373 | -407 | 151 | 1,399 | -305 | 635 | 724 | 453 | -273 | 520 | 479 | -4,310 |
Securities sold under agreements to repurchase | |||||||||||
1,909 | -1,316 | 1,316 | - | - | - | - | - | - | - | - | - |
Financial instruments sold but not yet purchased, at fair value | |||||||||||
-224 | -86 | -1,378 | -454 | 38 | -585 | -1,133 | -1,869 | 30 | -2,672 | -4,683 | -820 |
Payable to customers | |||||||||||
8,255 | 445 | 5,817 | 4,647 | 5,288 | 5,476 | 4,897 | 4,121 | 2,239 | 4,465 | 3,656 | -698 |
Other payables | |||||||||||
61 | 40 | 132 | -177 | 177 | -106 | -18 | 84 | -263 | 200 | -1,510 | -1 |
Net cash provided by operating activities | |||||||||||
2,666 | 2,356 | 1,065 | 635 | 725 | 417 | 140 | 725 | 991 | 1,693 | 150 | 2,092 |
Cash flows from investing activities: | |||||||||||
Purchases of other investments | |||||||||||
19 | 22 | - | 17 | 16 | 443 | 264 | 453 | 193 | 3 | 11 | - |
Distributions received and proceeds from sales of other investments | |||||||||||
4 | 1 | 2 | 38 | 11 | 516 | 248 | - | - | - | - | - |
Proceeds from sales of other investments | |||||||||||
- | - | - | - | - | - | - | 417 | 66 | 3 | 0 | - |
Distributions received from and redemptions of equity investments | |||||||||||
- | - | - | - | - | - | - | 1 | 2 | 0 | 2 | 0 |
Purchase of investments, net | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | -5 |
Purchase of property, equipment and intangible assets | |||||||||||
74 | 36 | 28 | 27 | 30 | 19 | 17 | 17 | 13 | 18 | 18 | 26 |
Net cash used in investing activities | |||||||||||
-89 | -57 | -26 | -6 | -35 | 54 | -33 | -52 | -137 | -17 | -27 | -20 |
Cash flows from financing activities: | |||||||||||
Issuances of senior notes | |||||||||||
- | - | - | - | - | - | - | - | 410 | 601 | 508 | 474 |
Redemptions of senior notes | |||||||||||
- | - | - | - | - | - | - | -101 | 503 | 613 | 445 | 491 |
Borrowings under senior secured credit facility | |||||||||||
- | - | - | - | - | - | - | - | - | 100 | 0 | 550 |
Repayments of senior secured credit facility | |||||||||||
- | - | - | - | - | - | - | - | 100 | 0 | 300 | 550 |
Short-term borrowings, net | |||||||||||
-1 | 2 | -59 | 74 | -34 | 10 | -86 | 103 | -180 | -160 | 86 | -1,281 |
Dividends paid to stockholders | |||||||||||
31 | 29 | 28 | - | - | - | - | - | - | - | - | - |
Redemption of member interests from IBG Holdings LLC | |||||||||||
- | - | - | - | - | - | - | - | - | -27 | -14 | -72 |
Redemption of former member interest | |||||||||||
- | - | - | - | - | - | - | - | -1 | -1 | -0 | -3 |
Reduction in noncontrolling interest in subsidiary | |||||||||||
- | - | - | - | - | - | - | - | - | - | 0 | 0 |
Repurchase of class A Common Stock | |||||||||||
- | - | - | - | - | - | - | - | - | - | - | 0 |
Dividends paid to stockholders | |||||||||||
- | - | - | 26 | 25 | 23 | 20 | 66 | 13 | 75 | 0 | 0 |
Distributions from IBG LLC to noncontrolling interests | |||||||||||
357 | 339 | 272 | 219 | 227 | 279 | 142 | 525 | 174 | 999 | 124 | 222 |
Repurchases of common stock for employee tax withholding under stock incentive plans | |||||||||||
27 | 45 | 21 | 26 | 25 | - | - | - | - | - | - | - |
Proceeds from sales of treasury stock | |||||||||||
26 | 40 | 21 | 25 | 29 | - | - | - | - | - | - | - |
Payments made under the Tax Receivable Agreement | |||||||||||
29 | 28 | 15 | 17 | 13 | 16 | - | 16 | - | - | - | - |
Net cash used in financing activities | |||||||||||
-419 | -399 | -374 | -189 | -295 | -308 | -248 | -605 | -563 | -1,174 | -290 | -1,598 |
Effect of exchange rate changes on cash, cash equivalents, and restricted cash | |||||||||||
24 | -79 | 65 | -25 | -63 | -107 | -27 | 28 | -30 | 46 | 30 | -52 |
Net increase in cash, cash equivalents, and restricted cash | |||||||||||
2,182 | 1,821 | 730 | 415 | 332 | 56 | -168 | 96 | 260 | 547 | -136 | 421 |
Supplemental disclosures of cash flow information: | |||||||||||
Cash paid for interest | |||||||||||
654 | 444 | 209 | 77 | 68 | 73 | 53 | 63 | 87 | 67 | 76 | 368 |
Cash paid for taxes, net | |||||||||||
51 | 50 | 47 | 29 | 31 | 37 | 52 | 23 | 78 | 85 | 102 | 83 |
Cash paid for amounts included in lease liabilities | |||||||||||
20 | - | - | - | - | - | - | - | - | - | - | - |
Non-cash financing activities: | |||||||||||
Issuance of common stock in exchange of member interests in IBG LLC | |||||||||||
1 | 94 | 49 | 56 | 132 | 35 | 110 | - | 29 | 0 | 0 | - |
Redemption of member interests from IBG Holdings LLC | |||||||||||
-1 | -94 | -49 | -56 | -132 | -35 | -110 | - | 29 | 0 | 0 | - |
Adjustments to additional paid-in capital for changes in proportionate ownership in IBG LLC | |||||||||||
24 | 28 | 28 | 25 | 26 | 10 | -30 | 13 | 19 | 36 | 0 | 0 |
Adjustments to noncontrolling interests for changes in proportionate ownership in IBG LLC | |||||||||||
-24 | -28 | -28 | -25 | -26 | -10 | 30 | -13 | 19 | 36 | 0 | 0 |
Non-cash distribution to noncontrolling interests | |||||||||||
- | 11 | - | 5 | - | - | - | - | - | - | - | - |
Changes in redemption value of redeemable noncontrolling interests | |||||||||||
- | - | - | - | - | - | - | -5,269 | -1,051 | 2 | -78 | - |
Changes to total equity for the change in redemptions value of redeemable noncontrolling interests | |||||||||||
- | - | - | - | - | - | - | 5,269 | 1,051 | -2 | 78 | - |