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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Commissions $ 367,016 $ 352,027 $ 1,192,004 $ 1,190,522
Principal transactions 73,997 65,182 254,757 277,946
Fees from related parties 3,470 8,814 11,500 20,897
Data, software and post-trade 22,238 21,523 65,826 61,060
Interest and dividend income 3,042 2,418 17,535 13,115
Other revenues 3,984 5,078 12,151 13,795
Total revenues 473,747 455,042 1,553,773 1,577,335
Expenses:        
Compensation and employee benefits 257,604 244,648 836,533 873,691
Equity-based compensation and allocations of net income to limited partnership units and FPUs 78,490 33,007 170,275 103,030
Total compensation and employee benefits 336,094 277,655 1,006,808 976,721
Occupancy and equipment 46,049 45,924 141,598 145,074
Fees to related parties 5,674 7,728 15,574 18,590
Professional and consulting fees 16,836 15,755 53,071 55,839
Communications 29,305 30,097 89,891 91,165
Selling and promotion 9,586 5,942 25,692 31,338
Commissions and floor brokerage 15,908 12,933 48,145 45,730
Interest expense 16,735 19,665 53,268 54,796
Other expenses 24,614 28,367 64,423 67,445
Total expenses 500,801 444,066 1,498,470 1,486,698
Other income (losses), net:        
Gains (losses) on divestitures and sale of investments 92 (9) 60 (9)
Gains (losses) on equity method investments 1,816 1,527 4,605 3,669
Other income (loss) 4,513 4,779 11,783 (107)
Total other income (losses), net 6,421 6,297 16,448 3,553
Income (loss) from operations before income taxes (20,633) 17,273 71,751 94,190
Provision (benefit) for income taxes (6,692) 8,558 7,056 28,032
Consolidated net income (loss) (13,941) 8,715 64,695 66,158
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries (2,539) (135) 17,141 17,067
Net income (loss) available to common stockholders (11,402) 8,850 47,554 49,091
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ (11,402) $ 8,850 $ 47,554 $ 49,091
Basic earnings (loss) per share (in dollars per share) $ (0.03) $ 0.02 $ 0.12 $ 0.14
Basic weighted-average shares of common stock outstanding (in shares) 387,121 363,244 382,161 360,629
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ (11,402) $ 8,850 $ 56,033 $ 71,609
Fully diluted earnings (loss) per share (in shares) $ (0.03) $ 0.02 $ 0.12 $ 0.13
Fully diluted weighted-average shares of common stock outstanding (in shares) 387,121 364,602 452,083 544,475