Interactive Brokers Group, Inc.

Regulatory Filings • Jul 28, 2020

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K/A

Amendment No. 1

CURRENT REPORT ‎ Pursuant to Section 13 or 15(d) of the ‎ Securities Exchange Act of 1934 ‎

Date of Report (Date of Earliest Event Reported): July 27, 2020

INTERACTIVE BROKERS GROUP, INC.

(Exact Name of Registrant as Specified in its Charter)

Delaware	001-33440	30-0390693
(State or Other Jurisdiction ‎ of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification Number)

One Pickwick Plaza , Greenwich , CT 06830

(Address of Principal Executive Offices) (Zip Code)

( 203 ) 618-5800

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
□	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
□	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
□	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Title of each class	Trading Symbol	Name of the exchange on which registered
Common Stock, par value $.01 per share	IBKR	The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

Item 8.01 Other Information

Explanatory Note

This Current Report on Form 8-K/A (“Amendment No. 1”) amends the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 27, 2020 (the “Original Form 8-K”) by Interactive Brokers Group, Inc. (the “Company”). This Amendment No. 1 is being filed solely to correct a HTML conversion error on the Selected Financial Information table included in the Original Form 8-K. The amounts disclosed for basic and diluted weighted average shares outstanding were duplicated in the same cell for all periods presented. The Company is including the revised table below.

‎

Selected Financial Information

The Company is providing this selected financial information to provide investors and other users of the Company’s financial statements with the most recent presentation of its consolidated statements of comprehensive income on a historical basis. The following table shows the impact of the change in presentation to the consolidated statement of comprehensive income on selected historical financial and other data of the Company for the periods indicated:

(in millions, except share or per share amounts)	Year Ended December 31, — 2019	2018	2017	2016	2015
Revenues
Commissions	$ 706	$ 777	$ 647	$ 612	$ 617
Other fees and services	141	148	114	98	95
Other income	7	49	258	159	52
Total non-interest income	854	974	1,019	869	764
Interest income	1,726	1,392	908	606	492
Interest expense	(643)	(463)	(225)	(79)	(67)
Total net interest income	1,083	929	683	527	425
Total net revenues	1,937	1,903	1,702	1,396	1,189
Non-interest expenses
Execution, clearing and distribution fees	251	269	241	244	231
Employee compensation and benefits	288	264	249	242	227
Occupancy, depreciation and amortization	60	49	47	51	44
Communications	25	25	28	30	25
General and administrative	112	96	86	62	58
Customer bad debt	44	4	2	6	146
Total non-interest expenses	780	707	653	635	731
Income before income taxes	1,157	1,196	1,049	761	458
Income tax expense	68	71	256	62	43
Net income	1,089	1,125	793	699	415
Less net income attributable to noncontrolling interests	928	956	717	615	366
Net income available for common stockholders	$ 161	$ 169	$ 76	$ 84	$ 49
Earnings per share
Basic	$ 2.11	$ 2.30	$ 1.09	$ 1.28	$ 0.80
Diluted	$ 2.10	$ 2.28	$ 1.07	$ 1.25	$ 0.78
Weighted average common shares outstanding
Basic	76,121,570	73,438,209	69,926,933	66,013,247	61,043,071
Diluted	76,825,863	74,266,370	70,904,921	67,299,413	62,509,796
Comprehensive income
Net income available for common stockholders	$ 161	$ 169	$ 76	$ 84	$ 49
Other comprehensive income
Cumulative translation adjustment, before income taxes	4	(14)	11	(4)	(10)
Income taxes related to items of other comprehensive income	—	(1)	—	—	—
Other comprehensive income (loss), net of tax	4	(13)	11	(4)	(10)
Comprehensive income available for common stockholders	$ 165	$ 156	$ 87	$ 80	$ 39
Comprehensive income attributable to noncontrolling interests

Net income attributable to noncontrolling interests	$	$	$	$	$
Other comprehensive income - cumulative translation adjustment	20	(66)	54	(21)	(53)
Comprehensive income attributable to noncontrolling interests	$ 948	$ 890	$ 771	$ 594	$ 313

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1) The Company reclassified $141 million, $148 million, $114 million, $98 million, and $95 million for the years ended December 31, 2019, 2018, 2017, 2016, and 2015, respectively, previously reported as other income to other fees and services.

2) The Company reclassified $27 million, $39 million, $40 million, $163 million, and $269 million for the years ended December 31, 2019, 2018, 2017, 2016, and 2015, respectively, previously reported as trading gains to other income as a component of “principal transactions”.

Item. 9.01 Financial Statements and Exhibits.

Exhibit No.	Description
104	Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL Document).

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: July 28, 2020

INTERACTIVE BROKERS GROUP, INC.
By:	/s/ Paul J. Brody
Name:	Paul J. Brody
Title:	Chief Financial Officer, Treasurer ‎ and Secretary