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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues:        
Revenues $ 585,844 $ 755,351 $ 1,106,643 $ 1,433,599
Expenses:        
Compensation and employee benefits 346,930 426,617 675,280 809,201
Equity-based compensation and allocations of net income to limited partnership units and FPUs 19,609 41,988 55,258 58,886
Total compensation and employee benefits 366,539 468,605 730,538 868,087
Operating, administrative and other 146,826 136,629 265,808 274,500
Fees to related parties 6,827 6,748 14,619 13,577
Depreciation and amortization 42,034 38,925 80,864 74,400
Total operating expenses 562,226 650,907 1,091,829 1,230,564
Other income (loss), net 3,925 (15,303) 915 (101,304)
Income (loss) from operations 27,543 89,141 15,729 101,731
Interest expense, net (9,595) (8,923) (17,186) (16,793)
Income (loss) before income taxes and noncontrolling interests 17,948 80,218 (1,457) 84,938
Provision for income taxes 6,719 18,426 3,663 22,430
Consolidated net income (loss) 11,229 61,792 (5,120) 62,508
Less: Net income (loss) attributable to noncontrolling interests 4,800 13,273 (1,199) 13,627
Net income (loss) available to common stockholders 6,429 48,519 (3,921) 48,881
Basic earnings per share        
Net income (loss) available to common stockholders $ 6,429 $ 48,519 $ (3,921) $ 48,881
Basic earnings per share (in usd per share) $ 0.04 $ 0.26 $ (0.02) $ 0.26
Basic weighted-average shares of common stock outstanding (in shares) 173,939 183,948 173,254 186,401
Fully diluted earnings per share        
Net income (loss) for fully diluted shares $ 8,850 $ 63,379 $ (3,921) $ 63,448
Fully diluted earnings per share (in usd per share) $ 0.04 $ 0.26 $ (0.02) $ 0.25
Fully diluted weighted-average shares of common stock outstanding (in shares) 244,954 247,985 173,254 250,458
Management services, servicing fees and other        
Revenues:        
Revenues $ 240,660 $ 233,685 $ 452,952 $ 466,804
Leasing and other commissions        
Revenues:        
Revenues 203,611 212,825 396,917 411,778
Investment sales        
Revenues:        
Revenues 77,604 209,053 149,597 361,167
Commercial mortgage origination, net        
Revenues:        
Revenues $ 63,969 $ 99,788 $ 107,177 $ 193,850