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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Commissions $ 1,541,900 $ 1,567,668 $ 1,645,818
Principal transactions 327,761 351,633 321,923
Fees from related parties 14,856 25,754 29,442
Data, software and post-trade 89,963 81,920 73,166
Interest and dividend income 21,977 12,332 18,319
Other revenues 18,907 17,454 15,938
Total revenues 2,015,364 2,056,761 2,104,606
Expenses:      
Compensation and employee benefits 1,271,340 1,132,557 1,127,041
Equity-based compensation and allocations of net income to limited partnership units and FPUs 256,164 183,545 170,625
Total compensation and employee benefits 1,527,504 1,316,102 1,297,666
Occupancy and equipment 188,322 192,837 186,111
Fees to related parties 24,030 23,618 19,778
Professional and consulting fees 67,884 74,072 93,071
Communications 117,502 121,646 120,037
Selling and promotion 38,048 38,234 81,829
Commissions and floor brokerage 64,708 59,376 63,617
Interest expense 69,329 76,607 60,246
Other expenses 80,888 89,045 118,671
Total expenses 2,178,215 1,991,537 2,041,026
Other income (losses), net:      
Gains (losses) on divestitures and sale of investments 312,941 394 18,421
Gains (losses) on equity method investments 6,706 5,023 4,115
Other income (loss) 19,705 1,580 30,511
Total other income (losses), net 339,352 6,997 53,047
Income (loss) from operations before income taxes 176,501 72,221 116,627
Provision (benefit) for income taxes 23,013 21,303 49,811
Consolidated net income (loss) 153,488 50,918 66,816
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 29,481 5,856 22,915
Net income (loss) available to common stockholders 124,007 45,062 43,901
Basic earnings (loss) per share      
Net income (loss) available to common stockholders $ 124,007 $ 45,062 $ 43,901
Basic earnings (loss) per share (in dollars per share) $ 0.33 $ 0.12 $ 0.13
Basic weighted-average shares of common stock outstanding (in shares) 379,215 361,736 344,332
Fully diluted earnings (loss) per share      
Net income (loss) for fully diluted shares $ 173,995 $ 64,787 $ 58,871
Fully diluted earnings (loss) per share (in dollars per share) $ 0.32 $ 0.12 $ 0.12
Fully diluted weighted-average shares of common stock outstanding (in shares) 540,020 546,848 472,187