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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues        
Trading revenues, net $ 230,471 $ 92,556 $ 415,495 $ 333,737
Commissions and fees 109,079 25,542 164,391 79,487
Interest, net (177) (781) (970) (1,998)
Investment income and other, net 128,446 13,285 119,207 14,015
Total revenues 467,819 130,602 698,123 425,241
Expenses        
Employee compensation and benefits 129,631 31,875 236,983 111,395
Execution and clearance fees 81,023 42,267 167,931 144,656
Communications and data processing 44,046 21,681 86,040 67,380
Interest 23,870 706 26,515 2,002
Depreciation and amortization 20,091 7,574 36,004 27,180
Payments for order flow 16,431 717 17,468 2,128
Professional fees 9,077 2,575 38,928 7,690
Occupancy and equipment rentals 8,898 3,240 15,454 8,865
Business development 2,644 6 2,686 19
Writedown of assets and lease loss accrual 936 0 4,248 0
Other 11,318 5,349 30,028 19,002
Total expenses 347,965 115,990 662,285 390,317
Income from continuing operations before income taxes 119,854 14,612 35,838 34,924
Income tax (benefit) expense (107,767) 4,805 (102,478) 10,368
Income from continuing operations, net of tax 227,621 9,807 138,316 24,556
Loss from discontinued operations, net of tax (784) 0 (784) 0
Net income $ 226,837 $ 9,807 $ 137,532 $ 24,556
Basic earnings per share from continuing operations (in dollars per share) $ 1.99 $ 0.21 $ 2.02 $ 0.49
Diluted earnings per share from continuing operations (in dollars per share) $ 1.98 $ 0.21 $ 2.01 $ 0.49
Basic loss per share from discontinued operations (in dollars per share) $ (0.01) $ 0.00 $ (0.01) $ 0.00
Diluted loss per share from discontinued operations (in dollars per share) $ (0.01) $ 0.00 $ (0.01) $ 0.00
Basic earnings per share (in dollars per share) $ 1.99 $ 0.21 $ 2.00 $ 0.49
Diluted earnings per share (in dollars per share) $ 1.98 $ 0.21 $ 2.00 $ 0.49
Shares used in computation of basic earnings (loss) per share (in shares) 114,113 46,411 68,632 49,619
Shares used in computation of diluted earnings (loss) per share (in shares) 114,773 46,411 68,855 49,619