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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 $ 1,904,998 $ 2,218,132 $ 2,047,579
Expenses:      
Compensation and employee benefits 1,147,360 1,275,988 1,161,985
Equity-based compensation and allocations of net income to limited partnership units and FPUs 130,759 258,836 224,644
Total compensation and employee benefits 1,278,119 1,534,824 1,386,629
Operating, administrative and other 294,405 361,857 331,758
Fees to related parties 22,573 25,025 26,162
Depreciation and amortization 141,193 131,144 97,733
Total operating expenses 1,736,290 2,052,850 1,842,282
Other income, net 15,290 80,954 127,293
Income from operations 183,998 246,236 332,590
Interest expense, net (37,728) (32,088) (50,205)
Income before income taxes and noncontrolling interests 146,270 214,148 282,385
Provision for income taxes 36,993 52,436 90,487
Consolidated net income 109,277 161,712 191,898
Less: Net income attributable to noncontrolling interests 29,217 44,407 85,166
Net income available to common stockholders 80,060 117,305 106,732
Basic earnings per share      
Net income available to common stockholders [1] $ 70,281 $ 104,406 $ 101,641
Basic earnings per share (in usd per share) $ 0.39 $ 0.59 $ 0.65
Basic weighted-average shares of common stock outstanding (in shares) 179,106 177,774 157,256
Fully diluted earnings per share      
Net income for fully diluted shares $ 70,281 $ 108,160 $ 105,571
Fully diluted earnings per share (in usd per share) $ 0.39 $ 0.58 $ 0.64
Fully diluted weighted-average shares of common stock outstanding (in shares) 179,690 185,016 163,810
Commissions      
Revenues:      
Revenues $ 967,948 $ 1,396,035 $ 1,286,339
Gains from mortgage banking activities/originations, net      
Revenues:      
Revenues 310,914 198,085 182,264
Management services, servicing fees and other      
Revenues:      
Revenues $ 626,136 $ 624,012 $ 578,976
[1] Includes a reduction for dividends on preferred stock or exchangeable preferred partnership units in the amount of $9.8 million, $12.9 million and $5.1 million for the years ended December 31, 2020, 2019 and 2018, respectively.