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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Revenues $ 179,846 $ 182,229 $ 383,015 $ 368,286
Expenses        
Employee compensation and benefits 48,383 45,435 100,698 93,191
Depreciation and amortization 17,005 15,240 33,466 30,414
Technology and communications 15,235 12,490 30,234 24,682
Professional and consulting fees 8,023 8,920 15,150 18,541
Occupancy 3,199 3,700 6,810 7,087
Marketing and advertising 3,308 2,949 6,303 4,738
Clearing costs 4,182 4,263 8,727 8,838
General and administrative 4,784 4,444 10,544 7,903
Total expenses 104,119 97,441 211,932 195,394
Operating income 75,727 84,788 171,083 172,892
Other income (expense)        
Interest income 5,312 254 9,561 313
Interest expense (53) (337) (183) (510)
Equity in earnings of unconsolidated affiliate 250 191 454 191
Other, net (2,286) 4,682 (3,770) 7,111
Total other income (expense) 3,223 4,790 6,062 7,105
Income before income taxes 78,950 89,578 177,145 179,997
Provision for income taxes 19,091 22,656 43,658 48,306
Net income $ 59,859 $ 66,922 $ 133,487 $ 131,691
Net income per common share        
Basic $ 1.6 $ 1.78 $ 3.56 $ 3.52
Diluted 1.59 1.78 3.55 3.49
Cash dividends declared per common share $ 0.72 $ 0.7 $ 1.44 $ 1.4
Weighted average shares outstanding        
Basic 37,485 37,529 37,482 37,456
Diluted 37,588 37,608 37,617 37,716
Commissions [Member]        
Revenues        
Revenues $ 158,586 $ 163,463 $ 340,577 $ 329,576
Information Services [Member]        
Revenues        
Revenues 11,655 9,396 22,665 19,205
Post-trade Services [Member]        
Revenues        
Revenues 9,415 9,144 19,395 19,056
Other [Member]        
Revenues        
Revenues $ 190 $ 226 $ 378 $ 449