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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES        
Commissions and fees $ 671,396 $ 617,363 $ 1,966,056 $ 1,807,758
Investment income 349 1,668 1,844 4,274
Other income, net 2,217 (348) 3,364 1,150
Total revenues 673,962 618,683 1,971,264 1,813,182
EXPENSES        
Employee compensation and benefits 362,767 331,120 1,058,907 973,567
Other operating expenses 91,403 96,409 274,103 283,242
(Gain)/loss on disposal (994) (3,815) (1,285) (4,326)
Amortization 27,059 26,272 80,190 78,418
Depreciation 6,647 5,815 18,836 17,516
Interest 13,234 16,314 42,334 47,805
Change in estimated acquisition earn-out payables 15,318 (5,270) 4,996 (6,920)
Total expenses 515,434 466,845 1,478,081 1,389,302
Income before income taxes 158,528 151,838 493,183 423,880
Income taxes 24,549 36,332 110,020 101,885
Net income $ 133,979 $ 115,506 $ 383,163 $ 321,995
Net income per share:        
Basic (in dollars per share) $ 0.47 $ 0.41 $ 1.35 $ 1.14
Diluted (in dollars per share) 0.47 0.41 1.35 1.14
Dividends declared per share (in dollars per share) $ 0.085 $ 0.080 $ 0.255 $ 0.240