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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Revenues $ 172,112 $ 162,093 $ 540,398 $ 533,891
Expenses        
Employee compensation and benefits 44,805 40,878 137,996 129,698
Depreciation and amortization 15,302 13,964 45,716 38,840
Technology and communications 14,169 10,665 38,851 31,245
Professional and consulting fees 7,560 10,847 26,101 31,191
Occupancy 3,381 3,265 10,468 9,882
Marketing and advertising 1,797 1,821 6,535 6,153
Clearing costs 4,211 3,269 13,049 12,335
General and administrative 4,576 3,381 12,479 9,893
Total expenses 95,801 88,090 291,195 269,237
Operating income 76,311 74,003 249,203 264,654
Other income (expense)        
Investment income 1,433 108 1,746 322
Interest expense (138) (314) (648) (676)
Equity in earnings of unconsolidated affiliate 869 0 1,060 0
Other, net 388 697 7,499 (1,952)
Total other income (expense) 2,552 491 9,657 (2,306)
Income before income taxes 78,863 74,494 258,860 262,348
Provision for income taxes 19,556 16,536 67,862 56,645
Net income $ 59,307 $ 57,958 $ 190,998 $ 205,703
Net income per common share        
Basic $ 1.58 $ 1.54 $ 5.10 $ 5.49
Diluted 1.58 1.52 5.07 5.40
Cash dividends declared per common share $ 0.70 $ 0.66 $ 2.10 $ 1.98
Weighted average shares outstanding        
Basic 37,479 37,529 37,464 37,502
Diluted 37,567 38,084 37,666 38,114
Commissions [Member]        
Revenues        
Revenues $ 153,164 $ 142,826 $ 482,740 $ 475,095
Information Services [Member]        
Revenues        
Revenues 9,711 9,608 28,916 28,614
Post-trade Services [Member]        
Revenues        
Revenues 9,000 9,444 28,056 29,553
Other [Member]        
Revenues        
Revenues $ 237 $ 215 $ 686 $ 629