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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Revenues $ 162,093 $ 164,006 $ 533,891 $ 517,779
Expenses        
Employee compensation and benefits 40,878 37,583 129,698 120,413
Depreciation and amortization 13,964 9,032 38,840 25,404
Technology and communications 10,665 8,417 31,245 25,170
Professional and consulting fees 10,847 8,269 31,191 22,009
Occupancy 3,265 3,445 9,882 10,205
Marketing and advertising 1,821 1,148 6,153 5,633
Clearing costs 3,269 4,838 12,335 16,061
General and administrative 3,381 3,467 9,893 9,853
Total expenses 88,090 76,199 269,237 234,748
Operating income 74,003 87,807 264,654 283,031
Other income (expense)        
Investment income 108 344 322 2,327
Interest expense (314) (1,046) (676) (1,046)
Other, net 697 860 (1,952) (242)
Total other income (expense) 491 158 (2,306) 1,039
Income before income taxes 74,494 87,965 262,348 284,070
Provision for income taxes 16,536 20,189 56,645 57,624
Net income $ 57,958 $ 67,776 $ 205,703 $ 226,446
Net income per common share        
Basic $ 1.54 $ 1.81 $ 5.49 $ 6.06
Diluted 1.52 1.78 5.40 5.94
Cash dividends declared per common share $ 0.66 $ 0.60 $ 1.98 $ 1.80
Weighted average shares outstanding        
Basic 37,529 37,386 37,502 37,343
Diluted 38,084 38,160 38,114 38,129
Commissions [Member]        
Revenues        
Revenues $ 142,826 $ 150,586 $ 475,095 $ 478,632
Information Services [Member]        
Revenues        
Revenues 9,608 8,501 28,614 25,570
Post-trade Services [Member]        
Revenues        
Revenues 9,444 4,689 29,553 12,896
Other [Member]        
Revenues        
Revenues $ 215 $ 230 $ 629 $ 681