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Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2018

Summary of Revenues from Contracts with Customers and Other Sources of Revenues

The following table presents the Company’s total revenues separated between revenues from contracts with customers and other sources of revenues (in thousands):

		Three Months Ended March 31, 2018
Revenue from contracts with customers:
Commissions		$	668,599
Real estate management services			96,878
Data, software, and post-trade			15,099
Fees from related parties			6,590
Total revenue from contracts with customers			787,166
Other sources of revenue:
Principal transactions			91,918
Gains from mortgage banking activities/originations, net			38,914
Servicing fees			28,926
Interest income			8,748
Other revenues			974
Total revenues		$	956,646

Revenue [Member]

Schedule of Condensed Consolidated Statements of Financial Condition and Condensed Consolidated Statement of Operations Impact of ASC Topic 606

The table below presents the impact to the Company’s condensed consolidated statements of financial condition and condensed consolidated statement of operations as a result of these changes (in thousands):

		Three Months Ended March 31, 2018
		As Reported				Under Previous U.S. GAAP 1				ASC Topic 606 Impact: Increase (decrease)
Revenues:
Commissions			668,599				657,982				10,617
Real estate management and other services			96,878				78,491				18,387
Total revenues			956,646				927,642				29,004
Expenses:
Total compensation and employee benefits			600,043				594,401				5,642
Other expenses			68,591				50,204				18,387
Total expenses			863,195				839,166				24,029

		As of March 31, 2018
		As Reported				Under Previous U.S. GAAP 1				ASC Topic 606 Impact: Increase (decrease)
Statement of Financial Condition
Assets
Accrued commissions and other receivables, net			784,513				706,060				78,453
Total assets			6,777,496				6,699,043				78,453
Liabilities
Accrued compensation			442,871				405,477				37,394
Accounts payable, accrued and other liabilities			976,432				959,152				17,280
Total liabilities			5,290,789				5,236,115				54,674

¹ The amounts reflect each affected financial statement line item as they would have been reported under U.S. GAAP, prior to the adoption of the new revenue standard.

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