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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Commissions $ 382,640 $ 422,974 $ 838,495 $ 853,156
Principal transactions 99,453 90,432 212,764 174,662
Fees from related parties 6,562 7,221 12,083 13,016
Data, software and post-trade 20,139 18,741 39,537 36,651
Interest and dividend income 6,536 7,813 10,697 11,478
Other revenues 3,758 4,006 8,679 6,975
Total revenues 519,088 551,187 1,122,255 1,095,938
Expenses:        
Compensation and employee benefits 283,437 290,071 628,186 578,071
Equity-based compensation and allocations of net income to limited partnership units and FPUs 27,819 43,752 70,023 55,893
Total compensation and employee benefits 311,256 333,823 698,209 633,964
Occupancy and equipment 47,247 45,109 98,321 91,111
Fees to related parties 5,194 6,457 10,629 9,384
Professional and consulting fees 19,805 23,347 39,761 43,352
Communications 30,524 29,974 61,045 60,385
Selling and promotion 6,634 21,491 25,333 39,893
Commissions and floor brokerage 13,520 16,791 32,797 31,409
Interest expense 17,457 14,985 34,791 28,183
Other expenses 21,499 21,765 40,687 45,780
Total expenses 473,136 513,742 1,041,573 983,461
Other income (losses) , net:        
Gain (loss) on divestitures and sale of investments   (1,619)   18,435
Gains (losses) on equity method investments 1,119 738 2,142 1,521
Other income (loss) 1,129 194 (4,886) 21,396
Total other income (losses), net 2,248 (687) (2,744) 41,352
Income (loss) from operations before income taxes 48,200 36,758 77,938 153,829
Provision (benefit) for income taxes 8,641 14,993 17,347 44,890
Consolidated net income (loss) 39,559 21,765 60,591 108,939
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 11,460 8,154 18,178 33,460
Net income (loss) available to common stockholders 28,099 13,611 42,413 75,479
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ 28,099 $ 13,611 $ 42,413 $ 75,479
Basic earnings (loss) per share $ 0.08 $ 0.04 $ 0.12 $ 0.22
Basic weighted-average shares of common stock outstanding 360,614 341,272 359,308 339,845
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ 40,436 $ 21,010 $ 60,695 $ 100,195
Fully diluted earnings (loss) per share $ 0.07 $ 0.04 $ 0.11 $ 0.21
Fully diluted weighted-average shares of common stock outstanding 546,123 522,984 542,390 467,232