Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.6.0.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues:      
Commissions $ 512,001 $ 558,683 $ 445,734
Advisory fees 463,602 462,087 343,212
Investment banking 25,453 35,145 46,998
Principal transactions 747 602 1,938
Interest and dividends 10,256 3,842 6,209
Service fees and other income 94,894 91,759 77,162
Total revenues 1,106,953 1,152,118 921,253
Expenses:      
Commissions and fees 818,000 857,842 662,178
Compensation and benefits 152,592 149,786 120,231
Non-cash compensation 5,311 8,759 10,541
Brokerage, communication and clearance fees 15,719 20,727 17,900
Rent and occupancy, net of sublease revenue 9,673 9,797 7,040
Professional services 14,940 14,156 11,040
Interest 4,262 5,169 6,990
Depreciation and amortization 28,334 27,077 18,397
Acquisition-related expenses 1,357 940 2,342
Loss on extinguishment of debt 0 252 548
Amortization of retention and forgivable loans 5,472 9,238 11,041
Other 63,363 60,125 43,011
Total expenses 1,119,023 1,163,868 911,259
(Loss) income before item shown below (12,070) (11,750) 9,994
Change in fair value of contingent consideration (216) 55 12
(Loss) income before income taxes (12,286) (11,695) 10,006
Income tax expense (benefit) 10,025 (482) (23,346)
Net (loss) income (22,311) (11,213) 33,352
Net loss attributable to noncontrolling interest (42) (62) (81)
Net (loss) income attributable to the Company (22,269) (11,151) 33,433
Dividends declared on preferred stock (30,438) (28,108) (17,244)
Net (loss) income available to common shareholders $ (52,707) $ (39,259) $ 16,189
Net (loss) income per share available to common shareholders (basic) (in USD per share) $ (0.29) $ (0.21) $ 0.09
Net (loss) income per share available to common shareholders (diluted) (in USD per share) $ (0.29) $ (0.21) $ 0.08
Weighted average common shares used in computation of per share data:      
Basic (in shares) 182,987,850 183,660,993 182,768,494
Diluted (in shares) 182,987,850 183,660,993 206,512,437