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Consolidated Statements of Income - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Total revenue $ 1,338,219 $ 1,188,781 $ 1,076,447
Expenses      
Employee compensation and benefits 460,305 432,421 407,260
Depreciation and amortization 185,350 178,879 171,308
Technology and communications 77,506 65,857 56,189
General and administrative 51,495 46,561 32,153
Professional fees 42,364 37,764 36,181
Occupancy 15,930 14,726 14,528
Total expenses 832,950 776,208 717,619
Operating income 505,269 412,573 358,828
Tax receivable agreement liability adjustment [1] (9,517) 13,653 12,745
Net interest income (expense) 65,350 11,907 (1,590)
Other income (loss), net (13,122) (1,000) 0
Income before taxes 547,980 437,133 369,983
Provision for income taxes (128,477) (77,520) (96,875)
Net income 419,503 359,613 273,108
Less: Net income attributable to non-controlling interests 54,637 50,275 46,280
Net income attributable to Tradeweb Markets Inc. $ 364,866 $ 309,338 $ 226,828
Earnings per share attributable to Tradeweb Markets Inc. Class A and B common stockholders:      
Basic (in dollars per share) $ 1.73 $ 1.50 $ 1.13
Diluted (in dollars per share) $ 1.71 $ 1.48 $ 1.09
Weighted average shares outstanding:      
Basic (in shares) 210,796,802 205,576,637 201,419,081
Diluted (in shares) 212,668,808 208,400,040 207,254,840
Transaction fees and commissions      
Revenues      
Total revenue $ 1,078,344 $ 950,269 $ 846,354
Subscription fees      
Revenues      
Total revenue 183,972 165,922 158,448
LSEG market data fees      
Revenues      
Total revenue 64,336 62,721 61,161
Other      
Revenues      
Total revenue $ 11,567 $ 9,869 $ 10,484
[1] See Note 10 – Tax Receivable Agreement.