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Consolidated Statements of Operations - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Revenues $ 718,300 $ 698,951 $ 689,125
Expenses      
Employee compensation and benefits 182,104 170,916 156,885
Depreciation and amortization 61,446 53,447 35,996
Technology and communications 52,964 42,474 34,092
Professional and consulting fees 33,949 41,925 32,304
Occupancy 14,121 13,320 13,425
Marketing and advertising 9,977 9,059 7,940
Clearing costs 17,663 16,074 21,058
General and administrative 19,200 14,501 12,697
Total expenses 391,424 361,716 314,397
Operating income (loss) 326,876 337,235 374,728
Other income (expense)      
Interest income 5,040 401 2,446
Interest expense (700) (842) (1,142)
Equity in undistributed income of subsidiaries 1,126 0 0
Other, net 5,946 (2,871) (1,673)
Total other income (expense) 11,412 (3,312) (369)
Income before income taxes 338,288 333,923 374,359
Provision for income taxes 88,064 76,035 74,982
Net income $ 250,224 $ 257,888 $ 299,377
Net income per common share      
Basic $ 6.68 $ 6.88 $ 8.01
Diluted 6.65 6.77 7.85
Cash dividends declared per common share $ 2.80 $ 2.64 $ 2.40
Weighted average shares outstanding      
Basic 37,468,000 37,508,000 37,359,000
Diluted 37,643,000 38,097,000 38,144,000
Commissions [Member]      
Revenues      
Revenues $ 641,183 $ 621,008 $ 634,445
Information Services [Member]      
Revenues      
Revenues 39,314 38,175 34,341
Post-trade Services [Member]      
Revenues      
Revenues 36,877 38,922 19,460
Other [Member]      
Revenues      
Revenues $ 926 $ 846 $ 879