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Revenues from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2019

Revenue From Contract With Customer [Abstract]

Schedule of Total Revenues Broken Out by Revenues from Contracts with Customers and Other Sources of Revenues

The following table presents the Company’s total revenues broken out by revenues from contracts with customers and other sources of revenues for the three and six months ended June 30, 2019 and 2018 (in thousands):

		Three Months Ended June 30,
		2019				2018
Revenues from contracts with customers:
Commissions		$	164,981			$	166,902
Investment banking			179,617				161,063
Asset management and service fees			211,171				199,568
Other			3,748				3,796
Total revenue from contracts with customers			559,517				531,329
Other sources of revenue:
Interest			187,940				154,421
Principal transactions			96,464				88,984
Other			9,757				5,277
Total revenues		$	853,678			$	780,011

		Six Months Ended June 30,
		2019				2018
Revenues from contracts with customers:
Commissions		$	320,430			$	332,677
Investment banking			341,457				337,425
Asset management and service fees			406,438				395,369
Other			7,530				7,514
Total revenue from contracts with customers			1,075,855				1,072,985
Other sources of revenue:
Interest			379,011				292,155
Principal transactions			200,496				186,766
Other			18,184				4,916
Total revenues		$	1,673,546			$	1,556,822

Revenues from Contracts with Customers Disaggregated by Major Business Activity and Primary Geographic Regions

The following tables present the Company’s revenues from contracts with customers by reportable segment disaggregated by major business activity and primary geographic regions for the three and six months ended June 30, 2019 and 2018 (in thousands):

		Three Months Ended June 30, 2019 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	120,284			$	44,697			$	—			$	164,981
Capital raising (1)			10,559				86,153				—				96,712
Advisory fees (1)			—				82,905				—				82,905
Investment banking			10,559				169,058				—				179,617
Asset management			211,156				15				—				211,171
Other			3,549				—				199				3,748
Total			345,548				213,770				199				559,517
Primary Geographic Region:
United States			345,548				172,958				199				518,705
United Kingdom			—				39,668				—				39,668
Other			—				1,144				—				1,144
		$	345,548			$	213,770			$	199			$	559,517

		Three Months Ended June 30, 2018 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	118,129			$	48,773			$	—			$	166,902
Capital raising (1)			7,968				66,112				—				74,080
Advisory fees (1)			81				86,922				—				87,003
Investment banking			8,049				153,034				—				161,083
Asset management			199,557				11				—				199,568
Other			2,907				—				889				3,796
Total			328,642				201,818				889				531,349
Primary Geographic Region:
United States			328,642				173,415				889				502,946
United Kingdom			—				25,953				—				25,953
Other			—				2,450				—				2,450
		$	328,642			$	201,818			$	889			$	531,349

⁽¹⁾ Excludes revenues not derived from contracts with customers included in the Other segment.

		Six Months Ended June 30, 2019 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	230,211			$	90,219			$	—			$	320,430
Capital raising (1)			18,782				134,875				—				153,657
Advisory fees (1)			—				187,800				—				187,800
Investment banking			18,782				322,675				—				341,457
Asset management			406,409				29				—				406,438
Other			6,004				—				1,526				7,530
Total			661,406				412,923				1,526				1,075,855
Primary Geographic Region:
United States			661,406				349,698				1,526				1,012,630
United Kingdom			—				60,771				—				60,771
Other			—				2,454				—				2,454
		$	661,406			$	412,923			$	1,526			$	1,075,855

		Six Months Ended June 30, 2018 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	237,334			$	95,343			$	—			$	332,677
Capital raising (1)			15,656				137,113				—				152,769
Advisory fees (1)			81				184,595				—				184,676
Investment banking			15,737				321,708				—				337,445
Asset management			395,346				23				—				395,369
Other			5,593				—				1,921				7,514
Total			654,010				417,074				1,921				1,073,005
Primary Geographic Region:
United States			654,010				349,765				1,921				1,005,696
United Kingdom			—				63,832				—				63,832
Other			—				3,477				—				3,477
		$	654,010			$	417,074			$	1,921			$	1,073,005

⁽¹⁾  Excludes revenues not derived from contracts with customers included in the Other segment.

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045

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X

- Definition

Tabular disclosure of revenue by reporting categories or types of financial instruments, including derivatives but excluding dividends and interests, from trading for own account by broker dealers.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-Section 45
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=35711157&loc=d3e42567-110969

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