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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues:        
Revenues $ 616,283 $ 664,646 $ 1,722,926 $ 2,098,245
Expenses:        
Compensation and employee benefits 371,250 388,903 1,046,531 1,198,104
Equity-based compensation and allocations of net income to limited partnership units and FPUs 29,548 44,088 84,805 102,974
Total compensation and employee benefits 400,798 432,991 1,131,336 1,301,078
Operating, administrative and other 140,930 121,382 406,738 395,882
Fees to related parties 6,244 7,301 20,863 20,878
Depreciation and amortization 41,463 44,359 122,327 118,758
Total operating expenses 589,435 606,033 1,681,264 1,836,596
Other income (loss), net 3,203 (128) 4,118 (101,432)
Income from operations 30,051 58,485 45,780 160,217
Interest expense, net (7,542) (7,281) (24,727) (24,074)
Income before income taxes and noncontrolling interests 22,509 51,204 21,053 136,143
Provision for income taxes 8,356 13,294 12,019 35,723
Consolidated net income 14,153 37,910 9,034 100,420
Less: Net income attributable to noncontrolling interests 4,206 9,946 3,007 23,572
Net income available to common stockholders 9,947 27,964 6,027 76,848
Basic earnings per share        
Net income available to common stockholders $ 9,947 $ 27,964 $ 6,027 $ 76,848
Basic earnings per share (in usd per share) $ 0.06 $ 0.16 $ 0.03 $ 0.42
Basic weighted-average shares of common stock outstanding (in shares) 174,129 177,231 173,549 183,311
Fully diluted earnings per share        
Net income for fully diluted shares $ 14,075 $ 37,674 $ 8,293 $ 100,483
Fully diluted earnings per share (in usd per share) $ 0.06 $ 0.15 $ 0.03 $ 0.41
Fully diluted weighted-average shares of common stock outstanding (in shares) 247,240 243,469 243,882 248,067
Management services, servicing fees and other        
Revenues:        
Revenues $ 253,749 $ 222,379 $ 706,701 $ 689,183
Leasing and other commissions        
Revenues:        
Revenues 203,268 219,903 600,185 631,681
Investment sales        
Revenues:        
Revenues 94,707 131,731 244,304 492,898
Commercial mortgage origination, net        
Revenues:        
Revenues $ 64,559 $ 90,633 $ 171,736 $ 284,483