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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues:      
Trading income, net $ 2,493,248 $ 912,316 $ 1,266,682
Interest and dividends income 62,119 108,778 87,508
Commissions, net and technology services 600,510 498,544 184,339
Other, net 83,454 (2,146) 340,189
Total revenue 3,239,331 1,517,492 1,878,718
Operating Expenses:      
Brokerage, exchange, clearance fees and payments for order flow, net 758,843 386,888 376,424
Communication and data processing 213,750 209,393 176,120
Employee compensation and payroll taxes 393,536 383,713 215,556
Interest and dividends expense 125,649 158,039 141,814
Operations and administrative 94,558 103,642 66,769
Depreciation and amortization 66,741 65,644 61,154
Amortization of purchased intangibles and acquired capitalized software 74,254 70,595 26,123
Termination of office leases 9,608 66,452 23,357
Debt issue cost related to debt refinancing, prepayment and commitment fees 28,879 41,132 11,727
Transaction advisory fees and expenses 2,941 26,117 11,487
Charges related to share based compensation at IPO 0 0 24
Financing interest expense on long-term borrowings 87,735 121,859 71,800
Total operating expenses 1,856,494 1,633,474 1,182,355
Income (loss) before income taxes and noncontrolling interest 1,382,837 (115,982) 696,363
Provision for (benefit from) income taxes 261,924 (12,277) 76,171
Net income (loss) 1,120,913 (103,705) 620,192
Noncontrolling interest (471,716) 45,110 (330,751)
Net income (loss) attributable to common stockholders $ 649,197 $ (58,595) $ 289,441
Earnings (loss) per share      
Basic (in dollars per share) $ 5.19 $ (0.53) $ 2.82
Diluted (in dollars per share) $ 5.16 $ (0.53) $ 2.78
Weighted average common shares outstanding      
Basic (in shares) 121,692,443 113,918,103 100,875,793
Diluted (in shares) 122,332,190 113,918,103 102,089,139
Net income (loss) $ 1,120,913 $ (103,705) $ 620,192
Other comprehensive income (loss)      
Foreign currency translation adjustment, net of taxes 15,318 (1,475) (5,127)
Net change in unrealized cash flow hedges gain (loss), net of taxes (59,019) 0 0
Comprehensive income (loss) 1,077,212 (105,180) 615,065
Less: Comprehensive (income) loss attributable to noncontrolling interest (452,855) 45,668 (328,697)
Comprehensive income (loss) $ 624,357 $ (59,512) $ 286,368