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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Revenues:      
Revenues $ 2,906,443 $ 1,904,998 $ 2,218,132
Expenses:      
Compensation and employee benefits 1,828,887 1,147,360 1,275,988
Equity-based compensation and allocations of net income to limited partnership units and FPUs 356,345 130,759 258,836
Total compensation and employee benefits 2,185,232 1,278,119 1,534,824
Operating, administrative and other 553,623 294,405 361,857
Fees to related parties 23,789 22,573 25,025
Depreciation and amortization 121,729 141,193 131,144
Total operating expenses 2,884,373 1,736,290 2,052,850
Other (loss) income, net 1,232,495 15,290 80,954
Income from operations 1,254,565 183,998 246,236
Interest expense, net (33,473) (37,728) (32,088)
Income before income taxes and noncontrolling interests 1,221,092 146,270 214,148
Provision for income taxes 242,958 36,993 52,436
Consolidated net income 978,134 109,277 161,712
Less: Net income attributable to noncontrolling interests 227,406 29,217 44,407
Net income available to common stockholders 750,728 80,060 117,305
Basic earnings per share      
Net income available to common stockholders [1] $ 744,528 $ 70,281 $ 104,406
Basic earnings per share (in usd per share) $ 3.91 $ 0.39 $ 0.59
Basic weighted-average shares of common stock outstanding (in shares) 190,179 179,106 177,774
Fully diluted earnings per share      
Net income for fully diluted shares $ 744,528 $ 70,281 $ 108,160
Fully diluted earnings per share (in usd per share) $ 3.80 $ 0.39 $ 0.58
Fully diluted weighted-average shares of common stock outstanding (in shares) 195,813 179,690 185,016
Commissions      
Revenues:      
Revenues $ 1,765,247 $ 967,948 $ 1,396,035
Gains from mortgage banking activities/originations, net      
Revenues:      
Revenues 225,481 310,914 198,085
Management services, servicing fees and other      
Revenues:      
Revenues $ 915,715 $ 626,136 $ 624,012
[1] Includes a reduction for dividends on preferred stock or EPUs in the amount of $6.2 million, $9.8 million and $12.9 million for the years ended December 31, 2021, 2020 and 2019, respectively. (see Note 1 — “Organization and Basis of Presentation”).