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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Revenues $ 172,284 $ 172,112 $ 555,299 $ 540,398
Expenses        
Employee compensation and benefits 48,872 44,805 149,570 137,996
Depreciation and amortization 17,561 15,302 51,027 45,716
Technology and communications 15,339 14,169 45,573 38,851
Professional and consulting fees 9,181 7,560 24,331 26,101
Occupancy 3,503 3,381 10,313 10,468
Marketing and advertising 2,100 1,797 8,403 6,535
Clearing costs 3,665 4,211 12,392 13,049
General and administrative 5,154 4,576 15,698 12,479
Total expenses 105,375 95,801 317,307 291,195
Operating income 66,909 76,311 237,992 249,203
Other income (expense)        
Interest income 6,590 1,433 16,151 1,746
Interest expense (164) (138) (347) (648)
Equity in earnings of unconsolidated affiliate 125 869 579 1,060
Other, net (1,717) 388 (5,487) 7,499
Total other income (expense) 4,834 2,552 10,896 9,657
Income before income taxes 71,743 78,863 248,888 258,860
Provision for income taxes 16,802 19,556 60,460 67,862
Net income $ 54,941 $ 59,307 $ 188,428 $ 190,998
Net income per common share        
Basic $ 1.47 $ 1.58 $ 5.03 $ 5.1
Diluted 1.46 1.58 5.01 5.07
Cash dividends declared per common share $ 0.72 $ 0.7 $ 2.16 $ 2.1
Weighted average shares outstanding        
Basic 37,491 37,479 37,485 37,464
Diluted 37,574 37,567 37,603 37,666
Commissions [Member]        
Revenues        
Revenues $ 150,496 $ 153,164 $ 491,073 $ 482,740
Information Services [Member]        
Revenues        
Revenues 11,801 9,711 34,466 28,916
Post-trade Services [Member]        
Revenues        
Revenues 9,833 9,000 29,228 28,056
Other [Member]        
Revenues        
Revenues $ 154 $ 237 $ 532 $ 686