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Consolidated Statements Of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenues:    
Commissions $ 169,550 $ 195,909
Principal transactions 115,522 159,270
Investment banking 211,879 254,846
Asset management 315,569 341,636
Interest 451,564 165,435
Other income (2,293) 8,888
Total revenues 1,261,791 1,125,984
Interest expense 154,998 9,457
Net revenues [1] 1,106,793 1,116,527
Non-interest expenses:    
Compensation and benefits 651,190 673,691
Occupancy and equipment rental 82,140 77,026
Communications and office supplies 46,136 42,456
Commissions and floor brokerage 14,440 15,887
Provision for credit losses 4,920 8,240
Other operating expenses 98,084 72,118
Total non-interest expenses 896,910 889,418
Income from operations before income tax expense 209,883 227,109
Provision for income taxes 52,344 53,560
Net income 157,539 173,549
Preferred dividends 9,320 9,320
Net income available to common shareholders $ 148,219 $ 164,229
Earnings per common share:    
Basic $ 1.36 $ 1.50
Diluted 1.28 1.39
Cash dividends declared per common share $ 0.36 $ 0.30
Weighted-average number of common shares outstanding:    
Basic 108,754 109,205
Diluted 115,390 118,140
[1] No individual client accounted for more than 10 percent of total net revenues for the three months ended March 31, 2023 and 2022.