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Revenues from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2021

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 nine months ended September 30, 2021 and 2020 (in thousands):

		Three Months Ended September 30,
		2021				2020
Revenues from contracts with customers:
Commissions		$	189,239			$	172,654
Investment banking			372,279				218,134
Asset management and service fees			313,862				230,782
Other			5,092				15,329
Total revenue from contracts with customers			880,472				636,899
Other sources of revenue:
Interest			141,844				114,411
Principal transactions			118,977				140,883
Other			13,668				4,929
Total revenues		$	1,154,961			$	897,122

		Nine Months Ended September 30,
		2021				2020
Revenues from contracts with customers:
Commissions		$	598,432			$	560,780
Investment banking			1,088,010				614,637
Asset management and service fees			887,878				667,496
Other			30,331				32,408
Total revenue from contracts with customers			2,604,651				1,875,321
Other sources of revenue:
Interest			402,975				403,956
Principal transactions			436,580				445,566
Other			27,298				18,571
Total revenues		$	3,471,504			$	2,743,414

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 nine months ended September 30, 2021 and 2020 (in thousands):

		Three Months Ended September 30, 2021 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	133,998			$	55,241			$	—			$	189,239
Capital raising			11,580				152,481				—				164,061
Advisory fees			—				208,218				—				208,218
Investment banking			11,580				360,699				—				372,279
Asset management			313,838				24				—				313,862
Other			5,206				—				(114	)			5,092
Total			464,622				415,964				(114	)			880,472
Primary Geographic Region:
United States			464,622				348,087				(114	)			812,595
United Kingdom			—				46,267				—				46,267
Canada			—				13,088				—				13,088
Other			—				8,522				—				8,522
		$	464,622			$	415,964			$	(114	)		$	880,472

		Three Months Ended September 30, 2020 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	120,600			$	52,054			$	—			$	172,654
Capital raising			8,113				129,179				—				137,292
Advisory fees			—				80,842				—				80,842
Investment banking			8,113				210,021				—				218,134
Asset management			230,765				17				—				230,782
Other			14,535				—				794				15,329
Total			374,013				262,092				794				636,899
Primary Geographic Region:
United States			374,013				209,141				794				583,948
United Kingdom			—				30,959				—				30,959
Canada			—				11,133				—				11,133
Other			—				10,859				—				10,859
		$	374,013			$	262,092			$	794			$	636,899

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

		Nine Months Ended September 30, 2021 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	421,156			$	177,276			$	—			$	598,432
Capital raising			37,027				505,618				—				542,645
Advisory fees			—				545,365				—				545,365
Investment banking			37,027				1,050,983				—				1,088,010
Asset management			887,794				84				—				887,878
Other			28,552				—				1,779				30,331
Total			1,374,529				1,228,343				1,779				2,604,651
Primary Geographic Region:
United States			1,374,529				996,429				1,779				2,372,737
United Kingdom			—				137,482				—				137,482
Canada			—				64,145				—				64,145
Other			—				30,287				—				30,287
		$	1,374,529			$	1,228,343			$	1,779			$	2,604,651

		Nine Months Ended September 30, 2020 (1)
		Global Wealth Management				Institutional Group				Other				Total
Major business activity:
Commissions		$	373,653			$	187,127			$	—			$	560,780
Capital raising			26,443				333,442				—				359,885
Advisory fees			19				254,733				—				254,752
Investment banking			26,462				588,175				—				614,637
Asset management			667,446				50				—				667,496
Other			30,104				—				2,304				32,408
Total			1,097,665				775,352				2,304				1,875,321
Primary Geographic Region:
United States			1,097,665				609,328				2,304				1,709,297
United Kingdom			—				110,053				—				110,053
Canada			—				27,240				—				27,240
Other			—				28,731				—				28,731
		$	1,097,665			$	775,352			$	2,304			$	1,875,321

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

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- 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://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&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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