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Consolidated Statements Of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues:    
Commissions $ 185,476 $ 169,550
Principal transactions 139,014 115,522
Investment banking 213,949 211,879
Asset management 367,476 315,569
Interest 506,828 451,564
Other income 4,950 (2,293)
Total revenues 1,417,693 1,261,791
Interest expense 254,655 154,998
Net revenues [1] 1,163,038 1,106,793
Non-interest expenses:    
Compensation and benefits 679,695 651,190
Occupancy and equipment rental 88,712 82,140
Communications and office supplies 47,367 46,136
Commissions and floor brokerage 15,767 14,440
Provision for credit losses 5,268 4,920
Other operating expenses 107,538 98,084
Total non-interest expenses 944,347 896,910
Income from operations before income tax expense 218,691 209,883
Provision for income taxes 55,116 52,344
Net income 163,575 157,539
Preferred dividends 9,320 9,320
Net income available to common shareholders $ 154,255 $ 148,219
Earnings per common share:    
Basic $ 1.48 $ 1.36
Diluted 1.4 1.28
Cash dividends declared per common share $ 0.42 $ 0.36
Weighted-average number of common shares outstanding:    
Basic 104,275 108,754
Diluted 109,985 115,390
[1] No individual client accounted for more than 10 percent of total net revenues for the three months ended March 31, 2024 and 2023.