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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014
REVENUES |  |  |  |
Commissions and fees | $ 417,244 | $ 394,690 | $ 821,025 | $ 756,697
Investment income | 260 | 194 | 480 | 297
Other income, net | 1,943 | 2,880 | 2,240 | 4,364
Total revenues | 419,447 | 397,764 | 823,745 | 761,358
EXPENSES |  |  |  |
Employee compensation and benefits | 211,499 | 196,397 | 416,804 | 380,507
Non-cash stock-based compensation | 6,102 | 5,994 | 12,459 | 13,509
Other operating expenses | 64,377 | 60,546 | 125,470 | 113,007
Gain on disposal | (348) | 0 | (605) | 0
Amortization | 21,623 | 20,623 | 43,248 | 38,499
Depreciation | 5,237 | 5,242 | 10,420 | 9,882
Interest | 9,671 | 7,004 | 19,522 | 11,076
Change in estimated acquisition earn-out payables | 372 | 177 | 1,735 | 6,260
Total expenses | 318,533 | 295,983 | 629,053 | 572,740
Income before income taxes | 100,914 | 101,781 | 194,692 | 188,618
Income taxes | 39,909 | 40,026 | 76,736 | 74,448
Net income | $ 61,005 | $ 61,755 | $ 117,956 | $ 114,170
Net income per share: |  |  |  |
Basic (in dollars per share) | $ 0.43 | $ 0.43 | $ 0.83 | $ 0.79
Diluted (in dollars per share) | 0.43 | 0.42 | 0.82 | 0.78
Dividends declared per share (in dollars per share) | $ 0.11 | $ 0.10 | $ 0.22 | $ 0.20

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