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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES        
Commissions and fees $ 598,157 $ 572,932 $ 1,294,660 $ 1,190,395
Investment income 333 1,525 1,495 2,606
Other income, net 316 762 1,147 1,498
Total revenues 598,806 575,219 1,297,302 1,194,499
EXPENSES        
Employee compensation and benefits 346,515 309,610 696,139 642,447
Other operating expenses 75,568 98,050 182,700 186,833
(Gain)/loss on disposal (31) (1,016) (291) (511)
Amortization 26,741 25,954 53,132 52,146
Depreciation 6,168 5,666 12,189 11,701
Interest 13,809 16,293 29,100 31,491
Change in estimated acquisition earn-out payables 635 (2,860) (10,322) (1,650)
Total expenses 469,405 451,697 962,647 922,457
Income before income taxes 129,401 123,522 334,655 272,042
Income taxes 32,617 30,929 85,471 65,553
Net income $ 96,784 $ 92,593 $ 249,184 $ 206,489
Net income per share:        
Basic (in dollars per share) $ 0.34 $ 0.33 $ 0.88 $ 0.73
Diluted (in dollars per share) 0.34 0.33 0.88 0.73
Dividends declared per share (in dollars per share) $ 0.085 $ 0.080 $ 0.170 $ 0.160