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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Commissions $ 420,969 $ 378,487 $ 850,489 $ 786,344
Principal transactions 90,432 84,988 174,662 176,906
Fees from related parties 7,221 5,934 13,016 12,233
Data, software and post-trade 18,741 15,370 36,651 30,469
Interest income 7,813 4,940 11,478 7,615
Other revenues 6,011 1,324 9,642 2,250
Total revenues 551,187 491,043 1,095,938 1,015,817
Expenses:        
Compensation and employee benefits 290,071 252,250 578,071 530,097
Equity-based compensation and allocations of net income to limited partnership units and FPUs 43,752 45,602 55,893 84,991
Total compensation and employee benefits 333,823 297,852 633,964 615,088
Occupancy and equipment 45,109 34,365 91,111 71,512
Fees to related parties 6,457 5,882 9,384 9,933
Professional and consulting fees 23,347 20,001 43,352 37,909
Communications 29,974 30,729 60,385 62,128
Selling and promotion 21,491 17,855 39,893 34,080
Commissions and floor brokerage 16,791 15,345 31,409 29,260
Interest expense 14,985 10,028 28,183 19,396
Other expenses 21,765 14,548 45,780 31,886
Total expenses 513,742 446,605 983,461 911,192
Other income (losses) , net:        
Gains (losses) on divestitures and sale of investments (1,619)   18,435  
Gains (losses) on equity method investments 738 1,011 1,521 3,635
Other income (loss) 194 1,481 21,396 32,892
Total other income (losses), net (687) 2,492 41,352 36,527
Income (loss) from continuing operations before income taxes 36,758 46,930 153,829 141,152
Provision (benefit) for income taxes 14,993 14,571 44,890 36,121
Consolidated net income (loss) from continuing operations 21,765 32,359 108,939 105,031
Consolidated net income (loss) from discontinued operations, net of tax   17,631   42,390
Consolidated net income (loss) 21,765 49,990 108,939 147,421
Less: Net income (loss) from continuing operations attributable to noncontrolling interest in subsidiaries 8,154 12,358 33,460 41,032
Less: Net income (loss) from discontinued operations attributable to noncontrolling interest in subsidiaries   2,429   12,412
Net income (loss) available to common stockholders 13,611 35,203 75,479 93,977
Basic earnings (loss) per share from continuing operations        
Net income (loss) from continuing operations available to common stockholders $ 13,611 $ 20,001 $ 75,479 $ 63,999
Basic earnings (loss) per share from continuing operations $ 0.04 $ 0.06 $ 0.22 $ 0.20
Basic weighted-average shares of common stock outstanding 341,272 321,199 339,845 314,501
Fully diluted earnings (loss) per share from continuing operations        
Net income (loss) from continuing operations for fully diluted shares $ 21,010 $ 20,001 $ 100,195 $ 87,517
Fully diluted earnings (loss) per share from continuing operations $ 0.04 $ 0.06 $ 0.21 $ 0.20
Fully diluted weighted-average shares of common stock outstanding 522,984 322,720 467,232 429,070