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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Revenues $ 176,334 $ 184,795 $ 371,798 $ 353,773
Expenses        
Employee compensation and benefits 40,732 41,636 88,820 82,830
Depreciation and amortization 13,097 8,305 24,876 16,372
Technology and communications 10,544 8,592 20,580 16,753
Professional and consulting fees 10,704 8,065 20,344 13,740
Occupancy 3,300 3,286 6,617 6,760
Marketing and advertising 3,128 1,810 4,332 4,485
Clearing costs 4,372 5,713 9,066 11,223
General and administrative 3,280 3,253 6,512 6,386
Total expenses 89,157 80,660 181,147 158,549
Operating income 87,177 104,135 190,651 195,224
Other income (expense)        
Investment income 107 714 214 1,983
Interest expense (171)   (362)  
Other, net (1,060) (446) (2,649) (1,102)
Total other income (expense) (1,124) 268 (2,797) 881
Income before income taxes 86,053 104,403 187,854 196,105
Provision for income taxes 18,765 20,549 40,109 37,435
Net income $ 67,288 $ 83,854 $ 147,745 $ 158,670
Net income per common share        
Basic $ 1.79 $ 2.25 $ 3.94 $ 4.25
Diluted 1.77 2.20 3.87 4.16
Cash dividends declared per common share $ 0.66 $ 0.60 $ 1.32 $ 1.20
Weighted average shares outstanding        
Basic 37,508 37,340 37,489 37,322
Diluted 38,104 38,153 38,129 38,115
Commissions [Member]        
Revenues        
Revenues $ 156,431 $ 172,092 $ 332,269 $ 328,046
Information Services [Member]        
Revenues        
Revenues 9,844 8,427 19,006 17,069
Post-trade Services [Member]        
Revenues        
Revenues 9,848 4,054 20,109 8,207
Other [Member]        
Revenues        
Revenues $ 211 $ 222 $ 414 $ 451