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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Commissions $ 389,768 $ 382,640 $ 824,988 $ 838,495
Principal transactions 81,997 99,453 180,760 212,764
Fees from related parties 4,245 6,562 8,030 12,083
Data, software and post-trade 21,602 20,139 43,588 39,537
Interest and dividend income 11,455 6,536 14,493 10,697
Other revenues 3,383 3,758 8,167 8,679
Total revenues 512,450 519,088 1,080,026 1,122,255
Expenses:        
Compensation and employee benefits 270,427 283,616 578,589 628,544
Equity-based compensation and allocations of net income to limited partnership units and FPUs 58,290 27,819 91,785 70,023
Total compensation and employee benefits 328,717 311,435 670,374 698,567
Occupancy and equipment 46,900 47,247 95,033 98,321
Fees to related parties 4,452 5,194 9,743 10,629
Professional and consulting fees 17,820 19,805 33,960 39,761
Communications 30,774 30,524 60,578 61,045
Selling and promotion 8,616 6,634 16,104 25,333
Commissions and floor brokerage 14,308 13,520 32,237 32,797
Interest expense 18,680 17,625 36,533 35,131
Other expenses 23,688 21,480 39,777 39,011
Total expenses 493,955 473,464 994,339 1,040,595
Other income (losses), net:        
Gains (losses) on divestitures and sale of investments (32) 0 (32) 0
Gains (losses) on equity method investments 1,323 1,119 2,789 2,142
Other income (loss) 1,864 1,129 7,270 (4,886)
Total other income (losses), net 3,155 2,248 10,027 (2,744)
Income (loss) from operations before income taxes 21,650 47,872 95,714 78,916
Provision (benefit) for income taxes (1,191) 8,599 13,748 19,474
Consolidated net income (loss) 22,841 39,273 81,966 59,442
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 4,672 11,354 20,706 17,849
Net income (loss) available to common stockholders 18,169 27,919 61,260 41,593
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ 18,169 $ 27,919 $ 61,260 $ 41,593
Basic earnings (loss) per share (in dollars per share) $ 0.05 $ 0.08 $ 0.16 $ 0.12
Basic weighted-average shares of common stock outstanding (in shares) 384,902 360,614 379,639 359,308
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ 26,023 $ 40,173 $ 88,271 $ 59,498
Fully diluted earnings (loss) per share (in shares) $ 0.05 $ 0.07 $ 0.16 $ 0.11
Fully diluted weighted-average shares of common stock outstanding (in shares) 563,923 546,123 560,210 542,390