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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues:        
Revenues $ 664,646 $ 788,125 $ 2,098,245 $ 1,921,977
Expenses:        
Compensation and employee benefits 388,903 444,408 1,198,104 1,274,879
Equity-based compensation and allocations of net income to limited partnership units and FPUs 44,088 33,963 102,974 315,743
Total compensation and employee benefits 432,991 478,371 1,301,078 1,590,622
Operating, administrative and other 121,382 152,363 395,882 394,546
Fees to related parties 7,301 5,664 20,878 17,696
Depreciation and amortization 44,359 28,883 118,758 80,804
Total operating expenses 606,033 665,281 1,836,596 2,083,668
Other (loss) income, net (128) 102,720 (101,432) 1,187,322
Income from operations 58,485 225,564 160,217 1,025,631
Interest expense, net (7,281) (8,498) (24,074) (26,034)
Income before income taxes and noncontrolling interests 51,204 217,066 136,143 999,597
Provision for income taxes 13,294 53,811 35,723 206,572
Consolidated net income 37,910 163,255 100,420 793,025
Less: Net income attributable to noncontrolling interests 9,946 34,707 23,572 191,627
Net income available to common stockholders 27,964 128,548 76,848 601,398
Basic earnings per share        
Net income available to common stockholders [1] $ 27,964 $ 128,549 $ 76,848 $ 595,198
Basic earnings per share (in usd per share) $ 0.16 $ 0.64 $ 0.42 $ 3.14
Basic weighted-average shares of common stock outstanding (in shares) 177,231 199,413 183,311 189,317
Fully diluted earnings per share        
Net income for fully diluted shares $ 37,674 $ 128,549 $ 100,483 $ 595,198
Fully diluted earnings per share (in usd per share) $ 0.15 $ 0.63 $ 0.41 $ 3.06
Fully diluted weighted-average shares of common stock outstanding (in shares) 243,469 205,281 248,067 194,320
Management services, servicing fees and other        
Revenues:        
Revenues $ 222,379 $ 244,469 $ 689,183 $ 651,729
Leasing and other commissions        
Revenues:        
Revenues 219,903 231,532 631,681 563,311
Investment sales        
Revenues:        
Revenues 131,731 208,786 492,898 452,565
Commercial mortgage origination, net        
Revenues:        
Revenues $ 90,633 $ 103,338 $ 284,483 $ 254,372
[1] Includes a reduction for dividends on preferred stock or EPUs in the amount of $0.0 million and $6.2 million for the three and nine months ended September 30, 2021, respectively. (see Note 1 — “Organization and Basis of Presentation”).