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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Commissions $ 348,720 $ 309,542 $ 726,008 $ 666,206
Principal transactions 94,883 88,169 209,812 203,770
Fees from related parties 4,062 3,625 8,019 6,942
Data, network and post-trade 27,000 23,391 54,122 47,518
Interest and dividend income 13,371 8,961 18,686 11,396
Other revenues 5,044 2,068 9,300 6,388
Total revenues 493,080 435,756 1,025,947 942,220
Expenses:        
Compensation and employee benefits 243,387 211,873 510,601 469,141
Equity-based compensation and allocations of net income to limited partnership units and FPUs 126,644 46,133 208,017 104,009
Total compensation and employee benefits 370,031 258,006 718,618 573,150
Occupancy and equipment 40,488 39,921 81,653 78,584
Fees to related parties 7,991 6,009 16,431 11,734
Professional and consulting fees 14,819 13,810 30,520 29,441
Communications 27,813 27,166 55,752 55,057
Selling and promotion 15,320 12,443 29,936 23,381
Commissions and floor brokerage 16,161 14,239 31,426 31,582
Interest expense 19,914 14,342 35,656 28,645
Other expenses 13,221 23,010 25,729 40,785
Total expenses 525,758 408,946 1,025,721 872,359
Other income (losses), net:        
Gains (losses) on equity method investments 2,412 2,729 4,474 5,532
Other income (loss) (1,011) 1,909 (2,746) 1,413
Total other income (losses), net 1,401 4,638 1,728 6,945
Income (loss) from operations before income taxes (31,277) 31,448 1,954 76,806
Provision (benefit) for income taxes (9,067) 15,105 2,994 29,762
Consolidated net income (loss) (22,210) 16,343 (1,040) 47,044
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries (2,506) 1,581 (314) 6,310
Net income (loss) available to common stockholders (19,704) 14,762 (726) 40,734
Basic earnings (loss) per share        
Net income (loss) available to common stockholders $ (19,704) $ 14,762 $ (726) $ 40,734
Basic earnings (loss) per share (in dollars per share) $ (0.05) $ 0.04 $ 0 $ 0.11
Basic weighted-average shares of common stock outstanding (in shares) 391,745 375,613 383,528 371,988
Fully diluted earnings (loss) per share        
Net income (loss) for fully diluted shares $ (19,704) $ 19,710 $ (726) $ 53,348
Fully diluted earnings (loss) per share (in dollars per share) $ (0.05) $ 0.04 $ 0 $ 0.11
Fully diluted weighted-average shares of common stock outstanding (in shares) 391,745 507,005 383,528 504,609