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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues        
Revenues $ 197,660 $ 179,846 $ 407,978 $ 383,015
Expenses        
Employee compensation and benefits 56,790 48,383 118,054 100,698
Depreciation and amortization 18,356 17,005 36,556 33,466
Technology and communications 17,771 15,235 34,822 30,234
Professional and consulting fees 7,669 8,023 14,064 15,150
Occupancy 3,714 3,199 7,139 6,810
Marketing and advertising 3,010 3,308 4,843 6,303
Clearing costs 4,122 4,182 9,033 8,727
General and administrative 4,889 4,784 9,628 10,544
Total expenses 116,321 104,119 234,139 211,932
Operating income 81,339 75,727 173,839 171,083
Other income (expense)        
Interest income 6,401 5,312 12,374 9,561
Interest expense (621) (53) (937) (183)
Equity in earnings of unconsolidated affiliate 354 250 724 454
Other, net (1,136) (2,286) (2,946) (3,770)
Total other income (expense) 4,998 3,223 9,215 6,062
Income before income taxes 86,337 78,950 183,054 177,145
Provision for income taxes 21,399 19,091 45,501 43,658
Net income $ 64,938 $ 59,859 $ 137,553 $ 133,487
Net income per common share        
Basic $ 1.72 $ 1.6 $ 3.65 $ 3.56
Diluted 1.72 1.59 3.64 3.55
Cash dividends declared per common share $ 0.74 $ 0.72 $ 1.48 $ 1.44
Weighted average shares outstanding        
Basic 37,655 37,485 37,698 37,482
Diluted 37,689 37,588 37,740 37,617
Commissions [Member]        
Revenues        
Revenues $ 171,679 $ 158,586 $ 356,552 $ 340,577
Information Services [Member]        
Revenues        
Revenues 12,544 11,655 24,425 22,665
Post-trade Services [Member]        
Revenues        
Revenues 10,400 9,415 21,130 19,395
Technology Services [Member]        
Revenues        
Revenues $ 3,037 $ 190 $ 5,871 $ 378