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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Revenues $ 755,351 $ 629,871 $ 1,433,599 $ 1,133,851
Expenses:        
Compensation and employee benefits 426,617 541,397 809,201 830,471
Equity-based compensation and allocations of net income to limited partnership units and FPUs 41,988 267,532 58,886 281,780
Total compensation and employee benefits 468,605 808,929 868,087 1,112,251
Operating, administrative and other 136,629 135,008 274,500 242,183
Fees to related parties 6,748 5,782 13,577 12,032
Depreciation and amortization 38,925 30,868 74,400 51,921
Total operating expenses 650,907 980,587 1,230,564 1,418,387
Other (loss) income, net (15,303) 1,086,812 (101,304) 1,084,602
Income from operations 89,141 736,096 101,731 800,066
Interest expense, net (8,923) (8,723) (16,793) (17,536)
Income before income taxes and noncontrolling interests 80,218 727,373 84,938 782,530
Provision for income taxes 18,426 142,182 22,430 152,761
Consolidated net income 61,792 585,191 62,508 629,769
Less: Net income attributable to noncontrolling interests 13,273 145,447 13,627 156,920
Net income available to common stockholders 48,519 439,744 48,881 472,849
Basic earnings per share        
Net income available to common stockholders [1] $ 48,519 $ 435,178 $ 48,881 $ 466,642
Basic earnings per share (in usd per share) $ 0.26 $ 2.35 $ 0.26 $ 2.53
Basic weighted-average shares of common stock outstanding (in shares) 183,948 185,114 186,401 184,190
Fully diluted earnings per share        
Net income for fully diluted shares $ 63,379 $ 583,745 $ 63,448 $ 626,472
Fully diluted earnings per share (in usd per share) $ 0.26 $ 2.13 $ 0.25 $ 2.30
Fully diluted weighted-average shares of common stock outstanding (in shares) 247,985 273,555 250,458 272,303
Management services, servicing fees and other        
Revenues:        
Revenues $ 233,685 $ 219,509 $ 466,804 $ 407,259
Leasing and other commissions        
Revenues:        
Revenues 212,825 184,346 411,778 331,779
Investment sales        
Revenues:        
Revenues 209,053 142,233 361,167 243,778
Commercial mortgage origination, net        
Revenues:        
Revenues $ 99,788 $ 83,783 $ 193,850 $ 151,035
[1] Includes a reduction for dividends on preferred stock or EPUs in the amount of $4.6 million and $6.2 million for the three and six months ended June 30, 2021, respectively. (see Note 1 — “Organization and Basis of Presentation”).