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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Commissions $ 658,320 $ 577,172 $ 1,326,919 $ 1,122,892
Principal transactions 84,988 80,360 176,906 166,103
Gains from mortgage banking activities/originations, net 41,878 73,547 80,792 118,808
Real estate management and other services 107,121 51,589 203,999 102,219
Servicing fees 32,333 26,840 61,259 51,672
Fees from related parties 6,271 6,018 12,861 12,956
Data, software and post-trade 15,370 13,322 30,469 26,409
Interest income 12,366 19,177 21,114 29,183
Other revenues 1,429 876 2,403 1,852
Total revenues 960,076 848,901 1,916,722 1,632,094
Expenses:        
Compensation and employee benefits 524,030 482,353 1,058,841 942,984
Allocations of net income and grant of exchangeability to limited partnership units and FPUs 106,545 50,237 171,777 113,430
Total compensation and employee benefits 630,575 532,590 1,230,618 1,056,414
Occupancy and equipment 52,428 50,311 107,212 101,140
Fees to related parties 9,887 5,519 17,651 12,009
Professional and consulting fees 26,918 22,891 52,999 44,561
Communications 34,143 32,353 68,993 64,526
Selling and promotion 32,900 30,034 62,749 54,675
Commissions and floor brokerage 15,623 10,476 29,718 20,906
Interest expense 27,441 26,490 54,579 45,253
Other expenses 66,307 50,269 134,898 92,662
Total expenses 896,222 760,933 1,759,417 1,492,146
Other income (losses) , net:        
Gain (loss) on divestiture and sale of investments       557
Gains (losses) on equity method investments 2,854 1,602 8,655 1,839
Other income (loss) (810) 4,713 33,132 9,733
Total other income (losses), net 2,044 6,315 41,787 12,129
Income (loss) from operations before income taxes 65,898 94,283 199,092 152,077
Provision (benefit) for income taxes 15,908 16,552 51,671 23,230
Consolidated net income (loss) 49,990 77,731 147,421 128,847
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 14,787 24,811 53,444 39,102
Net income (loss) available to common stockholders 35,203 52,920 93,977 89,745
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ 35,039 $ 52,920 $ 93,813 $ 89,745
Basic earnings (loss) per share $ 0.11 $ 0.18 $ 0.30 $ 0.31
Basic weighted-average shares of common stock outstanding 321,199 286,840 314,501 285,129
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ 50,445 $ 81,872 $ 139,202 $ 138,506
Fully diluted earnings (loss) per share $ 0.10 $ 0.18 $ 0.29 $ 0.31
Fully diluted weighted-average shares of common stock outstanding 481,461 451,857 480,193 448,347
Dividends declared per share of common stock $ 0.18 $ 0.18 $ 0.36 $ 0.34
Dividends declared and paid per share of common stock $ 0.18 $ 0.18 $ 0.36 $ 0.34