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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Commissions $ 671,318 $ 582,106 $ 1,998,237 $ 1,704,998
Principal transactions 73,360 75,766 250,266 241,869
Gains from mortgage banking activities/originations, net 51,972 45,455 132,764 164,263
Real estate management and other services 101,881 60,798 305,880 163,017
Servicing fees 34,948 29,057 96,207 80,729
Fees from related parties 7,128 7,173 19,989 20,129
Data, software and post-trade 16,547 13,776 47,016 40,185
Interest income 15,946 11,726 37,060 40,909
Other revenues 4,154 1,171 6,557 3,023
Total revenues 977,254 827,028 2,893,976 2,459,122
Expenses:        
Compensation and employee benefits 517,865 495,145 1,576,706 1,438,129
Allocations of net income and grant of exchangeability to limited partnership units and FPUs 67,919 48,446 239,696 161,876
Total compensation and employee benefits 585,784 543,591 1,816,402 1,600,005
Occupancy and equipment 58,193 51,962 165,405 153,102
Fees to related parties 9,743 4,380 27,394 16,389
Professional and consulting fees 33,491 24,486 86,490 69,047
Communications 31,693 33,290 100,686 97,816
Selling and promotion 30,850 26,828 93,599 81,503
Commissions and floor brokerage 15,382 10,410 45,100 31,316
Interest expense 33,472 24,425 88,051 69,678
Other expenses 69,706 55,600 204,604 148,262
Total expenses 868,314 774,972 2,627,731 2,267,118
Other income (losses) , net:        
Gain (loss) on divestiture and sale of investments   4   561
Gains (losses) on equity method investments 1,344 2,147 9,999 3,986
Other income (loss) 108,776 88,195 141,908 97,928
Total other income (losses), net 110,120 90,346 151,907 102,475
Income (loss) from operations before income taxes 219,060 142,402 418,152 294,479
Provision (benefit) for income taxes 56,756 31,854 108,427 55,084
Consolidated net income (loss) 162,304 110,548 309,725 239,395
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 42,018 29,019 95,462 68,121
Net income (loss) available to common stockholders 120,286 81,529 214,263 171,274
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ 118,864 $ 81,529 $ 212,677 $ 171,274
Basic earnings (loss) per share $ 0.36 $ 0.28 $ 0.67 $ 0.60
Basic weighted-average shares of common stock outstanding 327,932 288,308 319,027 286,200
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ 171,720 $ 127,495 $ 310,922 $ 266,001
Fully diluted earnings (loss) per share $ 0.35 $ 0.28 $ 0.64 $ 0.59
Fully diluted weighted-average shares of common stock outstanding 487,636 457,341 482,711 451,348