Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.20.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Total revenues $ 1,469,302 $ 1,391,136 $ 1,268,152
Expenses:      
Commissions and fees 1,025,556 976,596 928,430
Compensation and benefits 210,811 194,045 171,344
Non-cash compensation 6,106 5,882 5,539
Brokerage, communication and clearance fees 14,057 16,088 18,124
Rent and occupancy, net of sublease revenue 10,603 9,977 9,356
Professional services 19,403 21,927 19,588
Interest 23,119 10,796 2,710
Depreciation and amortization 22,294 24,039 28,835
Acquisition-related expenses 5,887 1,010 3,469
Amortization of retention and forgivable loans 549 417 7,396
Amortization of contract acquisition costs 11,759 9,671 0
Other 88,487 73,285 72,200
Total expenses 1,438,631 1,343,733 1,266,991
Income before item shown below 30,671 47,403 1,161
Change in fair value of contingent consideration (664) (238) 19
Income before income taxes 30,007 47,165 1,180
Income tax expense (benefit) 7,282 13,379 (6,502)
Net income 22,725 33,786 7,682
Net income (loss) attributable to noncontrolling interest (42) 28 (15)
Net income attributable to the Company 22,767 33,758 7,697
Dividends declared on preferred stock (34,689) (34,031) (32,482)
Net loss available to common shareholders $ (11,922) $ (273) $ (24,785)
Net loss per share available to common shareholders (basic) (in USD per share) $ (0.08) $ 0.00 $ (0.13)
Net loss per share available to common shareholders (diluted) (in USD per share) $ (0.08) $ 0.00 $ (0.13)
Weighted average common shares used in computation of per share data:      
Basic (in shares) 143,372,266 194,562,916 193,064,550
Diluted (in shares) 143,372,266 194,562,916 193,064,550
Commissions      
Revenues:      
Total revenues $ 724,605 $ 696,331 $ 536,028
Advisory fees      
Revenues:      
Total revenues 510,609 474,423 560,930
Investment banking      
Revenues:      
Total revenues 54,043 56,256 46,453
Principal transactions      
Revenues:      
Total revenues 1,452 (328) 857
Interest and dividends      
Revenues:      
Total revenues 5,289 4,971 2,550
Service fees      
Revenues:      
Total revenues 132,029 119,430 85,330
Other income      
Revenues:      
Total revenues $ 41,275 $ 40,053 $ 36,004