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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Revenues:        
Commissions $ 409,082 $ 351,969 $ 1,259,571 $ 1,138,313
Principal transactions 75,536 73,360 250,198 250,266
Fees from related parties 8,208 6,821 21,224 19,054
Data, software and post-trade 18,364 16,547 55,015 47,016
Interest income 3,976 2,870 15,454 10,485
Other revenues 5,971 4,075 15,613 6,325
Total revenues 521,137 455,642 1,617,075 1,471,459
Expenses:        
Compensation and employee benefits 278,544 221,575 856,615 751,672
Equity-based compensation and allocations of net income to limited partnership units and FPUs 40,330 34,901 96,223 119,892
Total compensation and employee benefits 318,874 256,476 952,838 871,564
Occupancy and equipment 44,709 39,148 135,820 110,660
Fees to related parties 7,123 5,644 16,507 15,577
Professional and consulting fees 21,262 22,329 64,614 60,238
Communications 29,882 29,078 90,267 91,206
Selling and promotion 20,320 16,146 60,213 50,226
Commissions and floor brokerage 15,831 15,082 47,240 44,342
Interest expense 15,258 10,722 43,441 30,118
Other expenses 42,757 14,882 88,537 46,768
Total expenses 516,016 409,507 1,499,477 1,320,699
Other income (losses) , net:        
Gains (losses) on divestitures and sale of investments     18,435  
Gains (losses) on equity method investments 1,530 1,327 3,051 4,962
Other income (loss) 2,095 15,123 23,491 48,015
Total other income (losses), net 3,625 16,450 44,977 52,977
Income (loss) from continuing operations before income taxes 8,746 62,585 162,575 203,737
Provision (benefit) for income taxes 6,186 23,019 51,076 59,140
Consolidated net income (loss) from continuing operations 2,560 39,566 111,499 144,597
Consolidated net income (loss) from discontinued operations, net of tax   122,738   165,128
Consolidated net income (loss) 2,560 162,304 111,499 309,725
Less: Net income (loss) from continuing operations attributable to noncontrolling interest in subsidiaries 6,089 7,956 39,549 48,988
Less: Net income (loss) from discontinued operations attributable to noncontrolling interest in subsidiaries   34,062   46,474
Net income (loss) available to common stockholders (3,529) 120,286 71,950 214,263
Basic earnings (loss) per share from continuing operations        
Net income (loss) from continuing operations available to common stockholders $ (3,529) $ 31,610 $ 71,950 $ 95,609
Basic earnings (loss) per share from continuing operations $ (0.01) $ 0.10 $ 0.21 $ 0.30
Basic weighted-average shares of common stock outstanding 346,060 327,932 341,940 319,027
Fully diluted earnings (loss) per share from continuing operations        
Net income (loss) from continuing operations for fully diluted shares $ (3,529) $ 44,708 $ 108,378 $ 95,609
Fully diluted earnings (loss) per share from continuing operations $ (0.01) $ 0.10 $ 0.21 $ 0.30
Fully diluted weighted-average shares of common stock outstanding 346,060 437,087 523,218 320,737