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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Commissions $ 352,027 $ 409,765 $ 1,190,522 $ 1,262,921
Principal transactions 65,182 75,536 277,946 250,198
Fees from related parties 8,814 8,208 20,897 21,224
Data, software and post-trade 21,523 18,364 61,060 55,015
Interest and dividend income 2,418 3,976 13,115 15,454
Other revenues 5,075 5,288 13,754 12,263
Total revenues 455,039 521,137 1,577,294 1,617,075
Expenses:        
Compensation and employee benefits 244,240 278,544 872,426 856,615
Equity-based compensation and allocations of net income to limited partnership units and FPUs 33,007 40,330 103,030 96,223
Total compensation and employee benefits 277,247 318,874 975,456 952,838
Occupancy and equipment 45,224 44,709 143,545 135,820
Fees to related parties 7,610 7,123 18,239 16,507
Professional and consulting fees 15,637 21,262 55,398 64,614
Communications 30,088 29,882 91,133 90,267
Selling and promotion 5,943 20,320 31,276 60,213
Commissions and floor brokerage 12,933 15,831 45,730 47,240
Interest expense 19,488 15,258 54,279 43,441
Other expenses 18,458 42,757 59,145 88,537
Total expenses 432,628 516,016 1,474,201 1,499,477
Other income (losses) , net:        
Gain (loss) on divestitures and sale of investments (9)   (9) 18,435
Gains (losses) on equity method investments 1,527 1,530 3,669 3,051
Other income (loss) 4,779 2,095 (107) 23,491
Total other income (losses), net 6,297 3,625 3,553 44,977
Income (loss) from operations before income taxes 28,708 8,746 106,646 162,575
Provision (benefit) for income taxes 3,778 6,186 21,125 51,076
Consolidated net income (loss) 24,930 2,560 85,521 111,499
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 5,549 6,089 23,727 39,549
Net income (loss) available to common stockholders 19,381 (3,529) 61,794 71,950
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ 19,381 $ (3,529) $ 61,794 $ 71,950
Basic earnings (loss) per share $ 0.05 $ (0.01) $ 0.17 $ 0.21
Basic weighted-average shares of common stock outstanding 363,244 346,060 360,629 341,940
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ 29,575 $ (3,529) $ 90,270 $ 108,378
Fully diluted earnings (loss) per share $ 0.05 $ (0.01) $ 0.17 $ 0.21
Fully diluted weighted-average shares of common stock outstanding 549,244 346,060 544,475 523,218