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Consolidated Income Statements - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
REVENUE      
Commissions $ 401,607 $ 395,097 $ 320,114
Advisory fees 451,197 455,261 353,671
Investment banking 435,870 222,298 126,211
Bank deposit sweep income 15,557 34,829 117,422
Interest 36,482 33,477 50,723
Principal transactions, net 23,984 27,874 30,094
Other 29,338 29,831 35,144
Total revenue 1,394,035 1,198,667 1,033,379
EXPENSES      
Compensation and related expenses 886,840 770,997 657,714
Communications and technology 80,520 82,132 81,588
Occupancy and equipment costs 60,069 62,352 62,198
Clearing and exchange fees 22,306 22,978 21,962
Interest 9,855 15,680 45,687
Other 109,804 75,528 89,318
Total expenses 1,169,394 1,029,667 958,467
Pre-tax income 224,641 169,000 74,912
Income taxes 65,677 46,014 21,959
Net income $ 158,964 $ 122,986 $ 52,953
Earnings per share      
Basic (in dollars per share) $ 12.57 $ 9.73 $ 4.10
Diluted (in dollars per share) $ 11.70 $ 9.30 $ 3.82
Weighted average shares      
Basic 12,642,306 12,642,576 12,904,397
Diluted 13,582,828 13,217,335 13,851,832