XML 20 R4.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2020
Sep. 30, 2020
Jun. 30, 2020
Mar. 31, 2020
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Jun. 30, 2020
Sep. 30, 2020
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:                          
Commissions $ 377,146 $ 352,027 $ 382,640 $ 455,855 $ 382,897 $ 409,765 $ 422,974 $ 430,182     $ 1,567,668 $ 1,645,818 $ 1,511,522
Principal transactions 73,687 65,182 99,453 113,311 71,725 75,536 90,432 84,230     351,633 321,923 313,053
Fees from related parties 4,857 8,814 6,562 5,521 8,218 8,208 7,221 5,795     25,754 29,442 24,076
Data, software and post-trade 20,860 21,523 20,139 19,398 18,151 18,364 18,741 17,910     81,920 73,166 65,185
Interest and dividend income                     12,332 18,319 14,404
Other revenues 3,659 5,075 3,758 4,921 3,300 5,288 4,006 2,969     17,413 15,563 9,570
Total revenues 479,426 455,039 519,088 603,167 487,156 521,137 551,187 544,751     2,056,720 2,104,231 1,937,810
Expenses:                          
Compensation and employee benefits 258,687 244,419 283,616 344,928 268,696 278,744 290,271 288,200     1,131,650 1,125,911 1,004,793
Equity-based compensation and allocations of net income to limited partnership units and FPUs 80,515 33,007 27,819 42,204 69,389 44,093 45,002 12,141     183,545 170,625 200,057
Total compensation and employee benefits 339,202 277,426 311,435 387,132 338,085 322,837 335,273 300,341     1,315,195 1,296,536 1,204,850
Occupancy and equipment 45,723 45,224 47,247 51,074 47,387 44,709 45,109 46,002     189,268 183,207 151,194
Fees to related parties 4,954 7,610 5,194 5,435 2,858 7,123 6,457 2,927     23,193 19,365 20,163
Professional and consulting fees 18,072 15,637 19,805 19,956 27,553 21,262 23,347 20,005     73,470 92,167 84,103
Communications 30,470 30,088 30,524 30,521 29,715 29,882 29,974 30,411     121,603 119,982 118,014
Selling and promotion 6,891 5,943 6,634 18,699 21,432 20,320 21,491 18,402     38,167 81,645 69,338
Commissions and floor brokerage 13,646 12,933 13,520 19,277 16,377 15,831 16,791 14,618     59,376 63,617 61,891
Interest expense 21,811 19,665 17,625 17,506 16,354 15,403 15,136 13,353     76,607 60,246 42,494
Other expenses 21,574 28,348 21,480 17,531 29,487 42,257 21,354 25,351     88,933 118,449 71,869
Total expenses 502,343 442,874 473,464 567,131 529,248 519,624 514,932 471,410     1,985,812 2,035,214 1,823,916
Other income (losses), net:                          
Gain (loss) on divestitures and sale of investments 403 (9)     (14)   (1,619) 20,054     394 18,421  
Gains (losses) on equity method investments 1,354 1,527 1,119 1,023 1,064 1,530 738 783     5,023 4,115 7,377
Other income (loss) 1,687 4,779 1,129 (6,015) 11,642 2,095 194 16,580     1,580 30,511 50,645
Total other income (losses), net 3,444 6,297 2,248 (4,992) 12,692 3,625 (687) 37,417     6,997 53,047 58,022
Income (loss) from operations before income taxes (19,473) 18,462 47,872 31,044 (29,400) 5,138 35,568 110,758     77,905 122,064 171,916
Provision (benefit) for income taxes (6,729) 8,558 8,599 10,875 4,075 6,691 13,261 25,784     21,303 49,811 63,768
Consolidated net income (loss) from continuing operations                     56,602 72,253 108,148
Consolidated net income (loss) from discontinued operations, net of tax                         178,462
Consolidated net income (loss) (12,744) 9,904 39,273 20,169 (33,475) (1,553) 22,307 84,974 $ 59,442 $ 69,346 56,602 72,253 286,610
Less: Net income (loss) from continuing operations attributable to noncontrolling interest in subsidiaries                     7,694 24,691 31,293
Less: Net income (loss) from discontinued operations attributable to noncontrolling interest in subsidiaries                         53,121
Net income (loss) available to common stockholders $ (2,338) $ 9,653 $ 27,919 $ 13,674 $ (20,561) $ (6,305) $ 13,972 $ 60,456     48,908 47,562 202,196
Basic earnings (loss) per share from continuing operations                          
Net income (loss) from continuing operations available to common stockholders                     $ 48,908 $ 47,562 $ 76,855
Basic earnings (loss) per share from continuing operations                     $ 0.14 $ 0.14 $ 0.24
Basic weighted-average shares of common stock outstanding 365,259 363,244 360,614 358,001 351,431 346,060 341,272 338,403     361,736 344,332 322,141
Fully diluted earnings (loss) per share from continuing operations                          
Net income (loss) from continuing operations for fully diluted shares                     $ 70,430 $ 62,054 $ 76,855
Fully diluted earnings (loss) per share from continuing operations                     $ 0.13 $ 0.13 $ 0.24
Fully diluted weighted-average shares of common stock outstanding                     546,848 459,743 323,844