XML 20 R5.htm IDEA: XBRL DOCUMENT v3.24.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues:      
Revenues $ 2,470,368 $ 2,705,527 $ 2,906,443
Expenses:      
Compensation and employee benefits 1,489,138 1,554,784 1,828,887
Equity-based compensation and allocations of net income to limited partnership units and FPUs 139,747 138,312 356,345
Total compensation and employee benefits 1,628,885 1,693,096 2,185,232
Operating, administrative and other 536,697 534,843 553,623
Fees to related parties 27,204 28,502 23,789
Depreciation and amortization 166,221 165,816 121,729
Total operating expenses 2,359,007 2,422,257 2,884,373
Other income (loss), net 13,854 (97,701) 1,232,495
Income from operations 125,215 185,569 1,254,565
Interest expense, net (21,737) (30,970) (33,473)
Income before income taxes and noncontrolling interests 103,478 154,599 1,221,092
Provision for income taxes 41,103 42,054 242,958
Consolidated net income 62,375 112,545 978,134
Less: Net income attributable to noncontrolling interests 19,800 29,270 227,406
Net income available to common stockholders 42,575 83,275 750,728
Basic earnings per share      
Net income available to common stockholders [1] $ 42,575 $ 83,275 $ 744,528
Basic earnings per share (in usd per share) $ 0.25 $ 0.46 $ 3.91
Basic weighted-average shares of common stock outstanding (in shares) 173,475 180,337 190,179
Fully diluted earnings per share      
Net income for fully diluted shares $ 42,575 $ 110,403 $ 744,528
Fully diluted earnings per share (in usd per share) $ 0.24 $ 0.45 $ 3.80
Fully diluted weighted-average shares of common stock outstanding (in shares) 176,382 245,177 195,813
Management services, servicing fees and other      
Revenues:      
Revenues $ 970,877 $ 909,485 $ 915,715
Leasing and other commissions      
Revenues:      
Revenues 839,595 831,874 826,942
Investment sales      
Revenues:      
Revenues 381,276 606,416 757,744
Commercial mortgage origination, net      
Revenues:      
Revenues $ 278,620 $ 357,752 $ 406,042
[1] Includes a reduction for dividends on EPUs in the amount of $6.2 million for the year ended December 31, 2021(see Note 1 — “Organization and Basis of Presentation”).