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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Revenues $ 817,097 $ 752,547 $ 718,300
Expenses      
Employee compensation and benefits 235,880 206,926 182,104
Depreciation and amortization 73,824 70,557 61,446
Technology and communications 72,166 62,801 52,964
Professional and consulting fees 27,382 31,935 33,949
Occupancy 14,690 14,216 14,121
Marketing and advertising 11,713 11,049 9,977
Clearing costs 17,863 17,002 17,663
General and administrative 22,709 23,042 19,200
Total expenses 476,227 437,528 391,424
Operating income 340,870 315,019 326,876
Other income (expense)      
Interest income 26,046 22,425 5,040
Interest expense (1,601) (1,983) (700)
Equity in earnings of unconsolidated affiliate 1,395 735 1,126
Other, net (6,164) (3,496) 5,946
Total other income (expense) 19,676 17,681 11,412
Income before income taxes and equity in undistributed earnings of subsidiaries 360,546 332,700 338,288
Provision for income taxes 86,365 74,645 88,064
Net income $ 274,181 $ 258,055 $ 250,224
Net income per common share      
Basic $ 7.29 $ 6.87 $ 6.68
Diluted 7.28 6.85 6.65
Cash dividends declared per common share $ 2.96 $ 2.88 $ 2.8
Weighted average shares outstanding      
Basic 37,600 37,546 37,468
Diluted 37,672 37,654 37,643
Commissions [Member]      
Revenues      
Revenues $ 711,710 $ 662,964 $ 641,183
Information Services [Member]      
Revenues      
Revenues 50,540 46,383 39,314
Post-trade Services [Member]      
Revenues      
Revenues 42,487 40,178 36,877
Technology Services [Member]      
Revenues      
Revenues $ 12,360 $ 3,022 $ 926