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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Commissions $ 580,033 $ 498,588 $ 1,127,159 $ 973,675
Principal transactions 80,360 86,448 166,103 178,887
Real estate management services 51,589 45,529 102,219 91,587
Fees from related parties 5,576 4,865 12,141 11,935
Data, software and post-trade 13,322 14,160 26,409 28,094
Interest income 6,001 3,778 9,304 6,162
Other revenues 876 402 1,852 4,084
Total revenues 737,757 653,770 1,445,187 1,294,424
Expenses:        
Compensation and employee benefits 454,099 420,264 891,590 830,539
Allocations of net income and grant of exchangeability to limited partnership units and FPUs 50,237 40,975 113,430 73,899
Total compensation and employee benefits 504,336 461,239 1,005,020 904,438
Occupancy and equipment 49,296 50,963 99,159 102,658
Fees to related parties 5,404 3,642 11,781 9,967
Professional and consulting fees 20,736 14,336 40,316 30,054
Communications 31,915 31,281 63,609 62,579
Selling and promotion 29,389 25,546 52,774 51,204
Commissions and floor brokerage 10,203 10,097 20,373 19,140
Interest expense 16,676 14,624 31,497 28,082
Other expenses 30,759 23,713 58,747 46,554
Total expenses 698,714 635,441 1,383,276 1,254,676
Other income (losses) , net:        
Gain (loss) on divestiture and sale of investments     557  
Gains (losses) on equity method investments 1,602 863 1,839 1,751
Other income (loss) 4,855 10,012 9,944 7,095
Total other income (losses), net 6,457 10,875 12,340 8,846
Income (loss) from operations before income taxes 45,500 29,204 74,251 48,594
Provision (benefit) for income taxes 16,547 10,548 23,206 15,388
Consolidated net income (loss) 28,953 18,656 51,045 33,206
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 7,185 4,189 11,062 6,234
Net income (loss) available to common stockholders 21,768 14,467 39,983 26,972
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ 21,768 $ 14,467 $ 39,983 $ 26,972
Basic earnings (loss) per share $ 0.08 $ 0.05 $ 0.14 $ 0.10
Basic weighted-average shares of common stock outstanding 286,840 275,997 285,129 274,895
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ 33,094 $ 23,452 $ 60,704 $ 43,904
Fully diluted earnings (loss) per share $ 0.07 $ 0.05 $ 0.14 $ 0.10
Fully diluted weighted-average shares of common stock outstanding 451,857 437,257 448,347 435,963
Dividends declared per share of common stock $ 0.18 $ 0.16 $ 0.34 $ 0.30
Dividends declared and paid per share of common stock $ 0.18 $ 0.16 $ 0.34 $ 0.30