Revenues from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Total Revenues Broken Out by Revenues from Contracts with Customers and Other Sources of Revenues

The following table presents the Company’s total revenues broken out by revenues from contracts with customers and other sources of revenue for the three and nine months ended September 30, 2023 and 2022 (in thousands):

	Three Months Ended September 30,
	2023			2022
Revenues from contracts with customers:
Commissions	$	165,075		$	159,054
Investment banking		146,887			221,858
Asset management		333,127			300,557
Other		1,380			1,055
Total revenue from contracts with customers		646,469			682,524
Other sources of revenue:
Interest		505,198			304,195
Principal transactions		114,841			118,379
Other		(921	)		(203	)
Total revenues	$	1,265,587		$	1,104,895

	Nine Months Ended September 30,
	2023			2022
Revenues from contracts with customers:
Commissions	$	499,983		$	541,644
Investment banking		525,591			747,779
Asset management		968,960			973,457
Other		3,987			4,763
Total revenue from contracts with customers		1,998,521			2,267,643
Other sources of revenue:
Interest		1,439,532			682,384
Principal transactions		336,063			403,252
Other		(4,927	)		3,060
Total revenues	$	3,769,189		$	3,356,339

Revenues from Contracts with Customers Disaggregated by Major Business Activity and Primary Geographic Regions

The following tables present the Company’s revenues from contracts with customers by reportable segment disaggregated by major business activity and primary geographic regions for the three and nine months ended September 30, 2023 and 2022 (in thousands):

	Three Months Ended September 30, 2023 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	112,300	$	52,775	$	—	$	165,075
Capital raising		3,895		45,719		—		49,614
Advisory		—		97,273		—		97,273
Investment banking		3,895		142,992		—		146,887
Asset management		333,088		39		—		333,127
Other		1,319		17		44		1,380
Total		450,602		195,823		44		646,469
Primary Geographic Region:
United States		450,602		145,787		44		596,433
United Kingdom		—		31,240		—		31,240
Canada		—		8,601		—		8,601
Other		—		10,195		—		10,195
	$	450,602	$	195,823	$	44	$	646,469

(1) Excludes revenues not derived from contracts with customers included in the Other segment.

	Three Months Ended September 30, 2022 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	108,214	$	50,840	$	—	$	159,054
Capital raising		4,498		50,624		—		55,122
Advisory		—		166,736		—		166,736
Investment banking		4,498		217,360		—		221,858
Asset management		300,540		17		—		300,557
Other		979		—		76		1,055
Total		414,231		268,217		76		682,524
Primary Geographic Region:
United States		414,231		223,713		76		638,020
United Kingdom		—		29,987		—		29,987
Canada		—		7,920		—		7,920
Other		—		6,597		—		6,597
	$	414,231	$	268,217	$	76	$	682,524

	Nine Months Ended September 30, 2023 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	332,327	$	167,656	$	—	$	499,983
Capital raising		12,118		177,263		—		189,381
Advisory		—		336,210		—		336,210
Investment banking		12,118		513,473		—		525,591
Asset management		968,863		97		—		968,960
Other		3,821		17		149		3,987
Total		1,317,129		681,243		149		1,998,521
Primary Geographic Region:
United States		1,317,129		499,047		149		1,816,325
United Kingdom		—		99,844		—		99,844
Canada		—		38,738		—		38,738
Other		—		43,614		—		43,614
	$	1,317,129	$	681,243	$	149	$	1,998,521

	Nine Months Ended September 30, 2022 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	360,994	$	180,650	$	—	$	541,644
Capital raising		14,701		185,390		—		200,091
Advisory		—		547,688		—		547,688
Investment banking		14,701		733,078		—		747,779
Asset management		973,396		61		—		973,457
Other		4,573		—		190		4,763
Total		1,353,664		913,789		190		2,267,643
Primary Geographic Region:
United States		1,353,664		763,774		190		2,117,628
United Kingdom		—		101,342		—		101,342
Canada		—		25,043		—		25,043
Other		—		23,630		—		23,630
	$	1,353,664	$	913,789	$	190	$	2,267,643

(1) Excludes revenues not derived from contracts with customers included in the Other segment.