XML 22 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Commissions $ 1,464,524 $ 1,281,294 $ 1,541,900
Principal transactions 368,100 365,507 327,761
Fees from related parties 15,968 14,734 14,856
Data, network and post-trade 111,470 96,389 89,963
Interest and dividend income 45,422 21,007 21,977
Other revenues 19,917 16,371 18,907
Total revenues 2,025,401 1,795,302 2,015,364
Expenses:      
Compensation and employee benefits 992,603 853,165 1,271,340
Equity-based compensation and allocations of net income to limited partnership units and FPUs 355,378 251,071 256,164
Total compensation and employee benefits 1,347,981 1,104,236 1,527,504
Occupancy and equipment 162,743 157,491 188,322
Fees to related parties 32,649 25,662 24,030
Professional and consulting fees 60,398 68,775 67,884
Communications 114,143 108,096 117,502
Selling and promotion 61,884 49,215 38,048
Commissions and floor brokerage 61,523 58,277 64,708
Interest expense 77,231 57,932 69,329
Other expenses 74,278 87,431 80,888
Total expenses 1,992,830 1,717,115 2,178,215
Other income (losses), net:      
Gains (losses) on divestitures and sale of investments 0 (1,029) 312,941
Gains (losses) on equity method investments 9,152 10,920 6,706
Other income (loss) 15,986 9,373 19,705
Total other income (losses), net 25,138 19,264 339,352
Income (loss) from operations before income taxes 57,709 97,451 176,501
Provision (benefit) for income taxes 18,934 38,584 23,013
Consolidated net income (loss) 38,775 58,867 153,488
Less: Net income (loss) attributable to noncontrolling interest in subsidiaries 2,510 10,155 29,481
Net income available to common stockholders 36,265 48,712 124,007
Basic earnings (loss) per share      
Net income (loss) attributable to common stockholders $ 34,070 $ 48,712 $ 124,007
Basic earnings (loss) per share (in dollars per share) $ 0.08 $ 0.13 $ 0.33
Basic weighted-average shares of common stock outstanding (in shares) 426,436 371,561 379,215
Fully diluted earnings (loss) per share      
Net income (loss) for fully diluted shares $ 33,943 $ 63,479 $ 173,995
Fully diluted earnings (loss) per share (in dollars per share) $ 0.07 $ 0.13 $ 0.32
Fully diluted weighted-average shares of common stock outstanding (in shares) 489,989 499,414 540,020