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Revenues from Contracts with Customers
 6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
Revenues from Contracts with Customers Revenues from Contracts with Customers
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 June 30,Six Months Ended June 30,
2022202120222021
Revenues from contracts with customers:
Commissions$309,542 $389,768 $666,206 $824,988 
Data, software, and post-trade23,391 21,602 47,518 43,588 
Fees from related parties3,625 4,245 6,942 8,030 
Other revenues2,509 3,172 5,801 7,071 
Total revenues from contracts with customers339,067 418,787 726,467 883,677 
Other sources of revenues:
Principal transactions88,169 81,997 203,770 180,760 
Interest and dividend income8,961 11,455 11,396 14,493 
Other revenues (losses), net(441)211 587 1,096 
Total revenues$435,756 $512,450 $942,220 $1,080,026 
See Note 3— “Summary of Significant Accounting Policies” in our consolidated financial statements included in Part II, Item 8 of our Annual Report on Form 10-K for the year ended December 31, 2021 for detailed information on the recognition of the Company’s revenues from contracts with customers.
Disaggregation of Revenue
See Note 23—“Segment, Geographic and Product Information,” for a further discussion on the allocation of revenues to geographic regions.
Contract Balances
The timing of our revenue recognition may differ from the timing of payment by our customers. The Company records a receivable when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied.
The Company had receivables related to revenues from contracts with customers of $308.9 million and $296.4 million at June 30, 2022 and December 31, 2021, respectively. The Company had no impairments related to these receivables during the three and six months ended June 30, 2022 and 2021.
The Company’s deferred revenue primarily relates to customers paying in advance or billed in advance where the performance obligation has not yet been satisfied. Deferred revenue at June 30, 2022 and December 31, 2021 was $13.4 million and $9.2 million, respectively.
During the three months ended June 30, 2022 and 2021, the Company recognized revenue of $7.8 million and $7.6 million, respectively, that was recorded as deferred revenue at the beginning of the period. During the six months ended June 30, 2022 and 2021, the Company recognized revenue of $8.2 million and $8.3 million, respectively, that was recorded as deferred revenue at the beginning of the period.
Contract Costs
The Company capitalizes costs to fulfill contracts associated with different lines of its business where the revenue is recognized at a point in time and the costs are determined to be recoverable. Capitalized costs to fulfill a contract are recognized at the point in time that the related revenue is recognized.
The Company did not have any capitalized costs to fulfill a contract as of June 30, 2022 and December 31, 2021.