Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 9 Months Ended | ||||
|---|---|---|---|---|---|---|
Sep. 30, 2026 |
Sep. 30, 2025 |
Sep. 30, 2026 |
Sep. 30, 2025 |
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| Revenues: | ||||||
| Commissions | $ 200,756 | $ 206,075 | $ 630,052 | $ 600,414 | ||
| Principal transactions | 117,124 | 177,876 | 407,436 | 492,139 | ||
| Investment banking | 306,203 | 323,483 | 979,569 | 794,885 | ||
| Asset management | 492,163 | 431,399 | 1,408,250 | 1,244,548 | ||
| Interest | 510,624 | 481,504 | 1,437,766 | 1,434,192 | ||
| Other income | 8,299 | 14,228 | 76,527 | 28,499 | ||
| Total revenues | 1,635,169 | 1,634,565 | 4,939,600 | 4,594,677 | ||
| Interest expense | 208,958 | 205,169 | 584,424 | 625,526 | ||
| Net revenues | [1] | 1,426,211 | 1,429,396 | 4,355,176 | 3,969,151 | |
| Non-interest expenses: | ||||||
| Compensation and benefits | 813,494 | 839,820 | 2,494,846 | 2,346,976 | ||
| Occupancy and equipment rental | 102,787 | 95,601 | 303,037 | 282,045 | ||
| Communications and office supplies | 48,846 | 48,893 | 146,208 | 146,253 | ||
| Commissions and floor brokerage | 13,547 | 15,807 | 43,627 | 49,759 | ||
| Provision for credit losses | 7,926 | 8,316 | 26,999 | 28,664 | ||
| Other operating expenses | 129,986 | 134,913 | 405,324 | 552,224 | ||
| Total non-interest expenses | 1,116,586 | 1,143,350 | 3,420,041 | 3,405,921 | ||
| Income from operations before income tax expense | 309,625 | 286,046 | 935,135 | 563,230 | ||
| Provision for income taxes | 75,482 | 74,675 | 223,096 | 143,812 | ||
| Net income | 234,143 | 211,371 | 712,039 | 419,418 | ||
| Preferred dividends | 9,320 | 9,320 | 27,961 | 27,961 | ||
| Net income available to common shareholders | $ 224,823 | $ 202,051 | $ 684,078 | $ 391,457 | ||
| Earnings per common share: | ||||||
| Basic | $ 1.48 | $ 1.31 | $ 4.45 | $ 2.52 | ||
| Diluted | 1.4 | 1.22 | 4.23 | 2.37 | ||
| Cash dividends declared per common share | $ 0.34 | $ 0.31 | $ 1.02 | $ 0.93 | ||
| Weighted-average number of common shares outstanding: | ||||||
| Basic | 151,956 | 154,679 | 153,889 | 155,603 | ||
| Diluted | 160,145 | 165,087 | 161,744 | 164,877 | ||
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- Definition Asset management Revenues No definition available.
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- Definition Commissions Revenues No definition available.
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- Definition Investment Banking Revenues No definition available.
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- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense in the period for communications and data processing expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of expense during the period for floor brokerage fees paid to other broker-dealers to execute trades on their behalf, stock exchange fees, order flow fees, and clearance fees. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Total aggregate amount of all noninterest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of realized and unrealized gain (loss) resulting from the difference between acquisition price and selling price or fair value of trading assets and trading liabilities, and from the firm's direct investment activity, conducted separately from customer trading activities, including, but not limited to, investments in private equity, alternative investment products, real estate, and exchanges and memberships. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense related to credit loss from transactions other than loan and lease transactions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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