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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Commissions $ 309,542 $ 389,768 $ 666,206 $ 824,988
Principal transactions 88,169 81,997 203,770 180,760
Fees from related parties 3,625 4,245 6,942 8,030
Data, software and post-trade 23,391 21,602 47,518 43,588
Interest and dividend income 8,961 11,455 11,396 14,493
Other revenues 2,068 3,383 6,388 8,167
Total revenues 435,756 512,450 942,220 1,080,026
Expenses:        
Compensation and employee benefits 211,873 270,586 469,141 578,929
Equity-based compensation and allocations of net income to limited partnership units and FPUs 46,133 58,290 104,009 91,785
Total compensation and employee benefits 258,006 328,876 573,150 670,714
Occupancy and equipment 39,921 47,159 78,584 95,549
Fees to related parties 6,009 4,518 11,734 9,900
Professional and consulting fees 13,810 20,029 29,441 36,235
Communications 27,166 30,776 55,057 60,586
Selling and promotion 12,443 8,618 23,381 16,106
Commissions and floor brokerage 14,239 14,308 31,582 32,237
Interest expense 14,342 18,680 28,645 36,533
Other expenses 23,010 23,772 40,785 39,809
Total expenses 408,946 496,736 872,359 997,669
Other income (losses), net:        
Gains (losses) on divestitures and sale of investments 0 (92) 0 (92)
Gains (losses) on equity method investments 2,729 1,323 5,532 2,789
Other income (loss) 1,909 1,924 1,413 7,330
Total other income (losses), net 4,638 3,155 6,945 10,027
Income (loss) from operations before income taxes 31,448 18,869 76,806 92,384
Provision (benefit) for income taxes 15,105 (1,191) 29,762 13,748
Consolidated net income (loss) 16,343 20,060 47,044 78,636
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 1,581 3,820 6,310 19,680
Net income (loss) available to common stockholders 14,762 16,240 40,734 58,956
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ 14,762 $ 16,240 $ 40,734 $ 58,956
Basic earnings (loss) per share (in dollars per share) $ 0.04 $ 0.04 $ 0.11 $ 0.16
Basic weighted-average shares of common stock outstanding (in shares) 375,613 384,902 371,988 379,639
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ 19,710 $ 23,260 $ 53,348 $ 84,963
Fully diluted earnings (loss) per share (in shares) $ 0.04 $ 0.04 $ 0.11 $ 0.15
Fully diluted weighted-average shares of common stock outstanding (in shares) 507,005 563,923 504,609 560,210