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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Total Revenues $ 846,519 $ 665,494
Expenses:    
Compensation and employee benefits 515,607 399,512
Equity-based compensation and allocations of net income to limited partnership units and FPUs 68,396 74,346
Total compensation and employee benefits 584,003 473,858
Operating, administrative and other 181,444 153,977
Fees to related parties 8,524 9,570
Depreciation and amortization 46,232 46,358
Total operating expenses 820,203 683,763
Other income (loss), net 644 750
Income (loss) from operations 26,960 (17,519)
Interest expense, net (6,914) (8,483)
Income (loss) before income taxes and noncontrolling interests 20,046 (26,002)
Provision (benefit) for income taxes 3,431 (10,053)
Consolidated net income (loss) 16,615 (15,949)
Less: Net income (loss) attributable to noncontrolling interests 2,196 (7,183)
Net income (loss) available to common stockholders 14,419 (8,766)
Basic earnings per share    
Net income (loss) available to common stockholders $ 14,419 $ (8,766)
Basic earnings per share (in dollars per share) $ 0.08 $ (0.05)
Basic weighted-average shares of common stock outstanding (in shares) 182,646 176,352
Fully diluted earnings per share    
Net income (loss) for fully diluted shares $ 19,610 $ (8,766)
Fully diluted earnings per share (in dollars per share) $ 0.08 $ (0.05)
Fully diluted weighted-average shares of common stock outstanding (in shares) 256,041 176,352
Management Services, Servicing Fees and Other    
Revenues:    
Total Revenues $ 344,031 $ 283,893
Leasing and Other Commissions    
Revenues:    
Total Revenues 250,031 208,074
Capital Markets    
Revenues:    
Total Revenues $ 252,457 $ 173,527