Annual report pursuant to Section 13 and 15(d)

Revenue from Contracts with Customers (Impact on Statement of Operations) (Details)

v3.19.1
Revenue from Contracts with Customers (Impact on Statement of Operations) (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]                      
Commissions                 $ 696,331 $ 536,028 $ 510,023
Advisory fees                 474,423 560,930 464,136
Investment banking                 56,256 46,453 25,453
Principal transactions                 (328) 857 751
Interest and dividends                 4,971 2,550 2,879
Service fees                 119,430 85,330 71,515
Other income                 40,053 36,004 32,196
Total revenues $ 355,121 $ 348,875 $ 357,756 $ 329,384 $ 344,016 $ 322,309 $ 311,536 $ 290,291 1,391,136 1,268,152 1,106,953
Commissions and fees                 976,596 928,430 818,000
Compensation and benefits                 194,045 171,344 152,592
Non-cash compensation                 5,882 5,539 5,311
Non-cash compensation                 5,882 5,539 5,311
Brokerage, communication and clearance fees                 16,088 18,124 15,719
Rent and occupancy, net of sublease revenue                 9,977 9,356 9,673
Professional services                 21,927 19,588 14,126
Interest                 10,796 2,710 4,262
Depreciation and amortization                 24,039 28,835 28,334
Acquisition-related expenses                 1,010 3,469 1,357
Amortization of retention and forgivable loans                 417 7,396 5,472
Amortization of contract acquisition costs                 9,671 0 0
Other                 73,285 72,200 64,177
Total expenses 342,060 336,164 343,822 321,687 344,095 317,649 310,286 294,961 1,343,733 1,266,991 1,119,023
Income before items shown below 13,061 12,711 13,934 7,697 (79) 4,660 1,250 (4,670) 47,403 1,161 (12,070)
Change in fair value of contingent consideration (73) (54) (50) (61) (67) (3) (63) 152 (238) 19 (216)
Income (loss) before income taxes 12,988 12,657 13,884 7,636 (146) 4,657 1,187 (4,518) 47,165 1,180 (12,286)
Income tax expense (benefit)                 13,379 (6,502) 10,025
Net income (loss) 9,562 9,450 9,310 5,464 6,634 3,402 1,325 (3,679) 33,786 7,682 (22,311)
Net income (loss) attributable to noncontrolling interest 6 13 8 1 (10) 3 (3) (5) 28 (15) (42)
Net income (loss) attributable to the Company 9,556 9,437 9,302 5,463 6,644 3,399 1,328 (3,674) 33,758 7,697 (22,269)
Dividends declared on preferred stock (8,508) (8,507) (8,508) (8,508) (8,456) (8,149) (7,953) (7,924) (34,031) (32,482) (30,438)
Net loss available to common shareholders $ 1,048 $ 930 $ 794 $ (3,045) $ (1,812) $ (4,750) $ (6,625) $ (11,598) $ (273) $ (24,785) $ (52,707)
Net loss per share available to common shareholders (basic) (in USD per share) $ 0.01 $ 0.00 $ 0.00 $ (0.02) $ (0.01) $ (0.02) $ (0.03) $ (0.06) $ 0.00 $ (0.13) $ (0.29)
Net loss per share available to common shareholders (diluted) (in USD per share) $ 0.01 $ 0.00 $ 0.00 $ (0.02) $ (0.01) $ (0.02) $ (0.03) $ (0.06) $ 0.00 $ (0.13) $ (0.29)
Basic (in shares) 189,463,849 196,381,910 196,557,837 195,898,794 194,749,001 192,912,643 192,304,828 192,270,615 194,562,916 193,064,550 182,987,850
Diluted (in shares) 198,743,096 208,387,236 209,855,936 195,898,794 194,749,001 192,912,643 192,304,828 192,270,615 194,562,916 193,064,550 182,987,850
Adjustments | Accounting Standards Update 2014-09                      
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]                      
Commissions                 $ 86,931    
Advisory fees                 (220,671)    
Investment banking                 4,921    
Principal transactions                 18    
Interest and dividends                 7    
Service fees                 0    
Other income                 (94)    
Total revenues                 (128,888)    
Commissions and fees                 (136,793)    
Compensation and benefits                 (1,388)    
Non-cash compensation                 0    
Brokerage, communication and clearance fees                 563    
Rent and occupancy, net of sublease revenue                 0    
Professional services                 1,905    
Interest                 40    
Depreciation and amortization                 (5,255)    
Acquisition-related expenses                 0    
Amortization of retention and forgivable loans                 (13,473)    
Amortization of contract acquisition costs                 9,671    
Other                 (520)    
Total expenses                 (145,250)    
Income before items shown below                 16,362    
Income (loss) before income taxes                 16,362    
Income tax expense (benefit)                 7,634    
Net income (loss)                 8,728    
Net income (loss) attributable to noncontrolling interest                 0    
Net income (loss) attributable to the Company                 8,728    
Dividends declared on preferred stock                 0    
Net loss available to common shareholders                 $ 8,728    
Net loss per share available to common shareholders (basic) (in USD per share)                 $ 0.05    
Net loss per share available to common shareholders (diluted) (in USD per share)                 $ 0.05    
Basic (in shares)                 0    
Diluted (in shares)                 0    
As Reported                      
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]                      
Commissions                 $ 609,400    
Advisory fees                 695,094    
Investment banking                 51,335    
Principal transactions                 (346)    
Interest and dividends                 4,964    
Service fees                 119,430    
Other income                 40,147    
Total revenues                 1,520,024    
Commissions and fees                 1,113,389    
Compensation and benefits                 195,433    
Non-cash compensation                 5,882    
Brokerage, communication and clearance fees                 15,525    
Rent and occupancy, net of sublease revenue                 9,977    
Professional services                 20,022    
Interest                 10,756    
Depreciation and amortization                 29,294    
Acquisition-related expenses                 1,010    
Amortization of retention and forgivable loans                 13,890    
Amortization of contract acquisition costs                 0    
Other                 73,805    
Total expenses                 1,488,983    
Income before items shown below                 31,041    
Change in fair value of contingent consideration                 (238)    
Income (loss) before income taxes                 30,803    
Income tax expense (benefit)                 5,745    
Net income (loss)                 25,058    
Net income (loss) attributable to noncontrolling interest                 28    
Net income (loss) attributable to the Company                 25,030    
Dividends declared on preferred stock                 (34,031)    
Net loss available to common shareholders                 $ (9,001)    
Net loss per share available to common shareholders (basic) (in USD per share)                 $ (0.05)    
Net loss per share available to common shareholders (diluted) (in USD per share)                 $ (0.05)    
Basic (in shares)                 194,562,916    
Diluted (in shares)                 194,562,916