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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Revenues $ 629,871 $ 383,718 $ 1,133,851 $ 867,647
Expenses:        
Compensation and employee benefits 541,397 230,518 830,471 530,775
Equity-based compensation and allocations of net income to limited partnership units and FPUs 267,532 10,860 281,780 23,774
Total compensation and employee benefits 808,929 241,378 1,112,251 554,549
Operating, administrative and other 135,008 61,012 242,183 153,293
Fees to related parties 5,782 5,205 12,032 11,017
Depreciation and amortization 30,868 28,946 51,921 74,986
Total operating expenses 980,587 336,541 1,418,387 793,845
Other (loss) income, net 1,086,812 (36,389) 1,084,602 (34,951)
Income from operations 736,096 10,788 800,066 38,851
Interest expense, net (8,723) (10,056) (17,536) (19,085)
Income before income taxes and noncontrolling interests 727,373 732 782,530 19,766
Provision for income taxes 142,182 88 152,761 4,886
Consolidated net income 585,191 644 629,769 14,880
Less: Net income attributable to noncontrolling interests 145,447 330 156,920 6,387
Net income available to common stockholders 439,744 314 472,849 8,493
Basic earnings per share        
Net income available to common stockholders [1] $ 435,178 $ (2,131) $ 466,642 $ 3,604
Basic earnings per share (in usd per share) $ 2.35 $ (0.01) $ 2.53 $ 0.02
Basic weighted-average shares of common stock outstanding (in shares) 185,114 178,523 184,190 178,034
Fully diluted earnings per share        
Net income for fully diluted shares $ 583,745 $ (2,131) $ 626,472 $ 3,604
Fully diluted earnings per share (in usd per share) $ 2.13 $ (0.01) $ 2.30 $ 0.02
Fully diluted weighted-average shares of common stock outstanding (in shares) 273,555 178,523 272,303 178,710
Commissions        
Revenues:        
Revenues $ 369,102 $ 173,038 $ 637,938 $ 441,399
Gains from mortgage banking activities/originations, net        
Revenues:        
Revenues 41,260 69,071 88,653 119,494
Management services, servicing fees and other        
Revenues:        
Revenues $ 219,509 $ 141,609 $ 407,260 $ 306,754
[1] Includes a reduction for dividends on preferred stock or EPUs in the amount of $4.6 million and $6.2 million for the three and six months ended June 30, 2021, respectively, and $2.4 million and $4.9 million for the three and six months ended June 30, 2020, respectively. (see Note 1 — “Organization and Basis of Presentation”).