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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Trading income, net $ 912,316 $ 1,266,682 $ 766,027
Interest and dividends income 108,778 87,508 50,407
Commissions, net and technology services 498,544 184,339 116,503
Other, net 10,444 340,189 95,045
Total revenue 1,530,082 1,878,718 1,027,982
Operating Expenses:      
Brokerage, exchange and clearance fees, net 284,768 301,779 256,926
Communication and data processing 209,393 176,120 131,506
Employee compensation and payroll taxes 383,713 215,556 177,489
Payments for order flow 102,120 74,645 27,727
Interest and dividends expense 158,039 141,814 91,993
Operations and administrative 116,232 66,769 62,123
Depreciation and amortization 65,644 61,154 47,327
Amortization of purchased intangibles and acquired capitalized software 70,595 26,123 15,447
Termination of office leases 66,452 23,357 3,671
Debt issue cost related to debt refinancing and prepayment 41,132 11,727 10,460
Transaction advisory fees and expenses 26,117 11,487 25,270
Charges related to share based compensation at IPO 0 24 772
Financing interest expense on long-term borrowings 121,859 71,800 64,107
Total operating expenses 1,646,064 1,182,355 914,818
Income (loss) before income taxes and noncontrolling interest (115,982) 696,363 113,164
Provision for (benefit from) income taxes (12,277) 76,171 94,266
Net income (loss) (103,705) 620,192 18,898
Noncontrolling interest 45,110 (330,751) (15,959)
Net income (loss) available for common stockholders $ (58,595) $ 289,441 $ 2,939
Earnings (loss) per share      
Basic (in dollars per share) $ (0.53) $ 2.82 $ 0.03
Diluted (in dollars per share) $ (0.53) $ 2.78 $ 0.03
Weighted average common shares outstanding      
Basic (in shares) 113,918,103 100,875,793 62,579,147
Diluted (in shares) 113,918,103 102,089,139 62,579,147
Net income (loss) $ (103,705) $ 620,192 $ 18,898
Other comprehensive income (loss)      
Foreign exchange translation adjustment, net of taxes (1,475) (5,127) 9,117
Comprehensive income (loss) (105,180) 615,065 28,015
Less: Comprehensive income (loss) attributable to noncontrolling interest 45,668 (328,697) (21,833)
Comprehensive income (loss) attributable to common stockholders $ (59,512) $ 286,368 $ 6,182