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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016
REVENUES |  |  |  |
Commissions and fees | $ 474,609 | $ 461,652 | $ 1,383,899 | $ 1,329,649
Investment income | 491 | 230 | 1,085 | 1,150
Other income, net | 546 | 392 | 22,047 | 2,166
Total revenues | 475,646 | 462,274 | 1,407,031 | 1,332,965
EXPENSES |  |  |  |
Employee compensation and benefits | 246,062 | 237,653 | 736,445 | 692,814
Other operating expenses | 72,058 | 67,433 | 210,289 | 197,329
Loss/(gain) on disposal | (1,902) | (277) | (1,993) | (3,131)
Amortization | 21,435 | 21,805 | 64,402 | 65,025
Depreciation | 5,489 | 5,195 | 17,242 | 15,867
Interest | 9,393 | 9,883 | 28,949 | 29,617
Change in estimated acquisition earn-out payables | (1,308) | 3,610 | 8,309 | 6,846
Total expenses | 351,227 | 345,302 | 1,063,643 | 1,004,367
Income before income taxes | 124,419 | 116,972 | 343,388 | 328,598
Income taxes | 48,506 | 45,427 | 131,263 | 128,733
Net income | $ 75,913 | $ 71,545 | $ 212,125 | $ 199,865
Net income per share: |  |  |  |
Basic (in dollars per share) | $ 0.54 | $ 0.51 | $ 1.52 | $ 1.43
Diluted (in dollars per share) | 0.53 | 0.50 | 1.49 | 1.41
Dividends declared per share (in dollars per share) | $ 0.1350 | $ 0.1225 | $ 0.405 | $ 0.3675

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