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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues        
Revenues $ 206,715 $ 172,284 $ 614,693 $ 555,299
Expenses        
Employee compensation and benefits 58,431 48,872 176,485 149,570
Depreciation and amortization 18,728 17,561 55,284 51,027
Technology and communications 18,553 15,339 53,375 45,573
Professional and consulting fees 6,989 9,181 21,053 24,331
Occupancy 3,835 3,503 10,974 10,313
Marketing and advertising 2,898 2,100 7,741 8,403
Clearing costs 4,387 3,665 13,420 12,392
General and administrative 5,839 5,154 15,467 15,698
Total expenses 119,660 105,375 353,799 317,307
Operating income 87,055 66,909 260,894 237,992
Other income (expense)        
Interest income 6,953 6,590 19,327 16,151
Interest expense (346) (164) (1,283) (347)
Equity in earnings of unconsolidated affiliate 340 125 1,064 579
Other, net (1,105) (1,717) (4,051) (5,487)
Total other income (expense) 5,842 4,834 15,057 10,896
Income before income taxes 92,897 71,743 275,951 248,888
Provision for income taxes 21,408 16,802 66,909 60,460
Net income $ 71,489 $ 54,941 $ 209,042 $ 188,428
Net income per common share        
Basic $ 1.9 $ 1.47 $ 5.55 $ 5.03
Diluted 1.9 1.46 5.55 5.01
Cash dividends declared per common share $ 0.74 $ 0.72 $ 2.22 $ 2.16
Weighted average shares outstanding        
Basic 37,527 37,491 37,641 37,485
Diluted 37,608 37,574 37,696 37,603
Commissions [Member]        
Revenues        
Revenues $ 180,392 $ 150,496 $ 536,944 $ 491,073
Information Services [Member]        
Revenues        
Revenues 12,960 11,801 37,385 34,466
Post-trade Services [Member]        
Revenues        
Revenues 10,382 9,833 31,512 29,228
Technology Services [Member]        
Revenues        
Revenues $ 2,981 $ 154 $ 8,852 $ 532