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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Revenues $ 633,375 $ 585,844 $ 1,179,874 $ 1,106,643
Expenses:        
Compensation and employee benefits 377,523 346,930 705,717 675,280
Equity-based compensation and allocations of net income to limited partnership units and FPUs 25,486 19,609 76,929 55,258
Total compensation and employee benefits 403,009 366,539 782,646 730,538
Operating, administrative and other 147,737 146,826 285,680 265,808
Fees to related parties 6,668 6,827 14,209 14,619
Depreciation and amortization 40,879 42,034 84,854 80,864
Total operating expenses 598,293 562,226 1,167,389 1,091,829
Other income, net 5,637 3,925 5,623 915
Income from operations 40,719 27,543 18,108 15,729
Interest expense, net (8,258) (9,595) (15,478) (17,186)
Income (loss) before income taxes and noncontrolling interests 32,461 17,948 2,630 (1,457)
Provision for income taxes 9,046 6,719 5,530 3,663
Consolidated net income (loss) 23,415 11,229 (2,900) (5,120)
Less: Net income (loss) attributable to noncontrolling interests 9,135 4,800 (927) (1,199)
Net income (loss) available to common stockholders 14,280 6,429 (1,973) (3,921)
Basic earnings per share        
Net income available to common stockholders $ 14,280 $ 6,429 $ (1,973) $ (3,921)
Basic earnings per share (in dollars per share) $ 0.08 $ 0.04 $ (0.01) $ (0.02)
Basic weighted-average shares of common stock outstanding (in shares) 173,469 173,939 174,121 173,254
Fully diluted earnings per share        
Net income (loss) for fully diluted shares $ 20,582 $ 8,850 $ (1,973) $ (3,921)
Fully diluted earnings per share (in dollars per share) $ 0.08 $ 0.04 $ (0.01) $ (0.02)
Fully diluted weighted-average shares of common stock outstanding (in shares) 255,604 244,954 174,121 173,254
Management services, servicing fees and other        
Revenues:        
Revenues $ 262,778 $ 240,660 $ 519,712 $ 452,952
Leasing and other commissions        
Revenues:        
Revenues 208,557 203,611 367,356 396,917
Capital markets        
Revenues:        
Revenues $ 162,040 $ 141,573 $ 292,806 $ 256,774