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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Commissions $ 1,281,294 $ 1,541,900 $ 1,567,668
Principal transactions 365,507 327,761 351,633
Fees from related parties 14,734 14,856 25,754
Data, software and post-trade 96,389 89,963 81,920
Interest and dividend income 21,007 21,977 12,332
Other revenues 16,371 18,907 17,454
Total revenues 1,795,302 2,015,364 2,056,761
Expenses:      
Compensation and employee benefits 853,165 1,271,340 1,132,557
Equity-based compensation and allocations of net income to limited partnership units and FPUs 251,071 256,164 183,545
Total compensation and employee benefits 1,104,236 1,527,504 1,316,102
Occupancy and equipment 157,491 188,322 192,837
Fees to related parties 25,662 24,030 23,618
Professional and consulting fees 68,775 67,884 74,072
Communications 108,096 117,502 121,646
Selling and promotion 49,215 38,048 38,234
Commissions and floor brokerage 58,277 64,708 59,376
Interest expense 57,932 69,329 76,607
Other expenses 87,431 80,888 89,045
Total expenses 1,717,115 2,178,215 1,991,537
Other income (losses), net:      
Gains (losses) on divestitures and sale of investments (1,029) 312,941 394
Gains (losses) on equity method investments 10,920 6,706 5,023
Other income (loss) 9,373 19,705 1,580
Total other income (losses), net 19,264 339,352 6,997
Income (loss) from operations before income taxes 97,451 176,501 72,221
Provision (benefit) for income taxes 38,584 23,013 21,303
Consolidated net income (loss) 58,867 153,488 50,918
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 10,155 29,481 5,856
Net income available to common stockholders 48,712 124,007 45,062
Basic earnings (loss) per share      
Net income (loss) available to common stockholders $ 48,712 $ 124,007 $ 45,062
Basic earnings (loss) per share (in dollars per share) $ 0.13 $ 0.33 $ 0.12
Basic weighted-average shares of common stock outstanding (in shares) 371,561 379,215 361,736
Fully diluted earnings (loss) per share      
Net income (loss) for fully diluted shares $ 63,479 $ 173,995 $ 64,787
Fully diluted earnings (loss) per share (in dollars per share) $ 0.13 $ 0.32 $ 0.12
Fully diluted weighted-average shares of common stock outstanding (in shares) 499,414 540,020 546,848