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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues      
Revenues $ 698,951 $ 689,125 $ 511,352
Expenses      
Employee compensation and benefits 170,916 156,885 131,079
Depreciation and amortization 53,447 35,996 26,857
Technology and communications 42,474 34,092 26,792
Professional and consulting fees 41,925 32,304 25,534
Occupancy 13,320 13,425 11,639
Marketing and advertising 9,059 7,940 11,559
Clearing costs 16,074 21,058 11,314
General and administrative 14,501 12,697 15,696
Total expenses 361,716 314,397 260,470
Operating income (loss) 337,235 374,728 250,882
Other income (expense)      
Investment income 401 2,446 8,063
Interest expense (842) (1,142)  
Other, net (2,871) (1,673) (1,521)
Total other income (expense) (3,312) (369) 6,542
Income before income taxes 333,923 374,359 257,424
Provision for income taxes 76,035 74,982 52,522
Net income $ 257,888 $ 299,377 $ 204,902
Net income per common share      
Basic $ 6.88 $ 8.01 $ 5.53
Diluted 6.77 7.85 5.40
Cash dividends declared per common share $ 2.64 $ 2.40 $ 2.04
Weighted average shares outstanding      
Basic 37,508 37,359 37,083
Diluted 38,097 38,144 37,956
Commissions [Member]      
Revenues      
Revenues $ 621,008 $ 634,445 $ 463,856
Information Services [Member]      
Revenues      
Revenues 38,175 34,341 30,730
Post-trade Services [Member]      
Revenues      
Revenues 38,922 19,460 15,763
Other [Member]      
Revenues      
Revenues $ 846 $ 879 $ 1,003