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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014
REVENUES |  |  |  |
Commissions and fees | $ 431,863 | $ 420,615 | $ 1,252,888 | $ 1,177,312
Investment income | 228 | 225 | 708 | 522
Other income, net | 76 | 578 | 2,316 | 4,942
Total revenues | 432,167 | 421,418 | 1,255,912 | 1,182,776
EXPENSES |  |  |  |
Employee compensation and benefits | 211,267 | 203,126 | 628,071 | 583,633
Non-cash stock-based compensation | 4,889 | 5,640 | 17,348 | 19,149
Other operating expenses | 66,121 | 64,916 | 191,591 | 177,923
Gain on disposal | (654) | 0 | (1,259) | 0
Amortization | 22,158 | 21,983 | 65,406 | 60,482
Depreciation | 5,215 | 5,456 | 15,635 | 15,338
Interest | 9,882 | 7,298 | 29,404 | 18,374
Change in estimated acquisition earn-out payables | 459 | 314 | 2,194 | 6,574
Total expenses | 319,337 | 308,733 | 948,390 | 881,473
Income before income taxes | 112,830 | 112,685 | 307,522 | 301,303
Income taxes | 45,403 | 44,354 | 122,139 | 118,802
Net income | $ 67,427 | $ 68,331 | $ 185,383 | $ 182,501
Net income per share: |  |  |  |
Basic (in dollars per share) | $ 0.48 | $ 0.47 | $ 1.31 | $ 1.26
Diluted (in dollars per share) | 0.47 | 0.47 | 1.29 | 1.24
Dividends declared per share (in dollars per share) | $ 0.11 | $ 0.10 | $ 0.33 | $ 0.30

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