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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Revenues $ 689,125 $ 511,352 $ 435,565
Expenses      
Employee compensation and benefits 156,885 131,079 109,117
Depreciation and amortization 35,996 26,857 23,080
Technology and communications 34,092 26,792 23,866
Professional and consulting fees 32,304 25,534 21,521
Occupancy 13,425 11,639 14,176
Marketing and advertising 7,940 11,559 12,114
Clearing costs 21,058 11,314 7,754
General and administrative 12,697 15,696 11,353
Total expenses 314,397 260,470 222,981
Operating income 374,728 250,882 212,584
Other income (expense)      
Investment income 2,446 8,063 6,112
Interest expense (1,142)    
Other, net (1,673) (1,521) (610)
Total other income (expense) (369) 6,542 5,502
Income before income taxes 374,359 257,424 218,086
Provision for income taxes 74,982 52,522 45,234
Net income $ 299,377 $ 204,902 $ 172,852
Net income per common share      
Basic $ 8.01 $ 5.53 $ 4.68
Diluted 7.85 5.40 4.57
Cash dividends declared per common share $ 2.40 $ 2.04 $ 1.68
Weighted average shares outstanding      
Basic 37,359 37,083 36,958
Diluted 38,144 37,956 37,855
Commissions [Member]      
Revenues      
Revenues $ 634,445 $ 463,856 $ 390,834
Information Services [Member]      
Revenues      
Revenues 34,341 30,730 28,227
Post-trade Services [Member]      
Revenues      
Revenues 19,460 15,763 15,346
Other [Member]      
Revenues      
Revenues $ 879 $ 1,003 $ 1,158