v3.25.2
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues:        
Trading income, net $ 652,796 $ 426,395 $ 1,242,779 $ 834,490
Interest and dividends income 128,406 107,066 237,459 213,058
Commissions, net and technology services 153,859 126,101 305,166 244,712
Other, net 64,512 33,423 52,038 43,564
Total revenue 999,573 692,985 1,837,442 1,335,824
Operating Expenses:        
Brokerage, exchange, clearance fees and payments for order flow, net 202,125 150,787 424,000 290,586
Communication and data processing 61,435 59,327 121,238 117,509
Employee compensation and payroll taxes 136,181 105,716 255,537 206,539
Interest and dividends expense 165,213 123,693 296,541 249,721
Operations and administrative 25,895 22,061 48,031 44,407
Depreciation and amortization 15,618 16,078 31,550 32,154
Amortization of purchased intangibles and acquired capitalized software 11,783 12,153 23,566 26,840
Termination of office leases 11 16 21 33
Debt issue cost related to debt refinancing, prepayment and commitment fees 1,682 24,279 3,363 25,973
Transaction advisory fees and expenses 59 60 397 195
Financing interest expense on long-term borrowings 32,551 23,430 62,442 46,662
Total operating expenses 652,553 537,600 1,266,686 1,040,619
Income before income taxes and noncontrolling interest 347,020 155,385 570,756 295,205
Provision for income taxes 54,044 27,268 88,145 55,780
Net income 292,976 128,117 482,611 239,425
Noncontrolling interest (141,789) (61,531) (231,743) (117,022)
Net income available for common stockholders $ 151,187 $ 66,586 $ 250,868 $ 122,403
Earnings per share        
Basic (in dollars per share) $ 1.65 $ 0.71 $ 2.74 $ 1.30
Diluted (in dollars per share) $ 1.65 $ 0.71 $ 2.73 $ 1.30
Weighted average common shares outstanding        
Basic (in shares) 85,490,121 88,137,799 85,585,040 88,568,461
Diluted (in shares) 85,530,426 88,358,223 85,794,619 88,671,329
Net Income $ 292,976 $ 128,117 $ 482,611 $ 239,425
Other comprehensive income        
Foreign exchange translation adjustment, net of taxes 12,539 436 17,279 (3,090)
Net change in unrealized cash flow hedges gain (loss), net of taxes 1,098 (12,910) (1,012) (11,363)
Comprehensive income 306,613 115,643 498,878 224,972
Less: Comprehensive income attributable to noncontrolling interest (147,639) (56,252) (238,714) (110,907)
Comprehensive income attributable to common stockholders $ 158,974 $ 59,391 $ 260,164 $ 114,065
Revenue from contract with customer, product and service [Extensible Enumeration] Commissions, Net and Technology Services [Member] Commissions, Net and Technology Services [Member] Commissions, Net and Technology Services [Member] Commissions, Net and Technology Services [Member]