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Consolidated Statements Of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Revenue from contracts with customers $ 880,472 $ 636,899 $ 2,604,651 $ 1,875,321
Principal transactions 118,977 140,883 436,580 445,566
Interest 141,844 114,411 402,975 403,956
Other income 18,760 20,258 57,629 50,979
Total revenues 1,154,961 897,122 3,471,504 2,743,414
Interest expense 10,023 13,822 38,641 51,263
Net revenues [1] 1,144,938 883,300 3,432,863 2,692,151
Non-interest expenses:        
Compensation and benefits 672,385 533,638 2,062,353 1,657,991
Occupancy and equipment rental 72,160 68,598 215,163 200,935
Communications and office supplies 40,432 40,123 123,565 124,293
Commissions and floor brokerage 14,744 13,254 44,424 43,273
Provision for credit losses (660) (1,353) (15,564) 33,925
Other operating expenses 89,375 70,647 254,503 215,275
Total non-interest expenses 888,436 724,907 2,684,444 2,275,692
Income from operations before income tax expense 256,502 158,393 748,419 416,459
Provision for income taxes 64,126 37,866 184,951 101,456
Net income 192,376 120,527 563,468 315,003
Preferred dividends 9,689 9,897 26,267 19,584
Net income available to common shareholders $ 182,687 $ 110,630 $ 537,201 $ 295,419
Earnings per common share:        
Basic $ 1.70 $ 1.04 $ 4.99 $ 2.78
Diluted 1.54 0.97 4.54 2.60
Cash dividends declared per common share $ 0.15 $ 0.11 $ 0.45 $ 0.33
Weighted-average number of common shares outstanding:        
Basic 107,379 105,941 107,655 106,221
Diluted 118,475 113,775 118,355 113,568
Commissions [Member]        
Revenues:        
Revenue from contracts with customers $ 189,239 $ 172,654 $ 598,432 $ 560,780
Investment Banking [Member]        
Revenues:        
Revenue from contracts with customers 372,279 218,134 1,088,010 614,637
Asset Management and Service Fees [Member]        
Revenues:        
Revenue from contracts with customers $ 313,862 $ 230,782 $ 887,878 $ 667,496
[1] No individual client accounted for more than 10 percent of total net revenues for the three and nine months ended September 30, 2021 or 2020.