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Consolidated Statement of Earnings (USD $)
In Thousands, except Per Share data, unless otherwise specified
11 Months Ended 12 Months Ended
Nov. 30, 2010
Nov. 30, 2011
Dec. 31, 2009
Revenues:      
Commissions $ 466,246 $ 534,726 $ 512,293
Principal transactions 509,070 428,035 838,396
Investment banking 890,334 1,122,528 474,315
Asset management fees and investment income from managed funds 16,785 44,125 35,887
Interest 852,494 1,248,132 732,250
Other 62,417 152,092 38,918
Total revenues 2,797,346 3,529,638 2,632,059
Interest expense 605,096 980,825 468,798
Net revenues 2,192,250 2,548,813 2,163,261
Interest on mandatorily redeemable preferred interest of consolidated subsidiaries 14,916 3,622 37,248
Net revenues, less mandatorily redeemable preferred interest 2,177,334 2,545,191 2,126,013
Non-interest expenses:      
Compensation and benefits 1,282,644 1,482,604 1,195,971
Floor brokerage and clearing fees 110,835 126,313 80,969
Technology and communications 160,987 215,940 141,233
Occupancy and equipment rental 68,085 84,951 72,824
Business development 62,015 93,645 37,614
Professional services 49,080 66,305 41,125
Other 47,017 56,099 48,530
Total non-interest expenses 1,780,663 2,125,857 1,618,266
Earnings before income taxes 396,671 419,334 507,747
Income tax expense 156,404 132,966 195,928
Net earnings 240,267 286,368 311,819
Net earnings to noncontrolling interests 16,601 1,750 36,537
Net earnings to common shareholders $ 223,666 $ 284,618 $ 275,282
Earnings per common share:      
Basic $ 1.10 $ 1.28 $ 1.36
Diluted $ 1.09 $ 1.28 $ 1.35
Weighted average common shares:      
Basic 196,393 211,056 200,446
Diluted 200,511 215,171 204,572