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Consolidated Statements Of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues:      
Commissions $ 710,589 $ 809,500 $ 760,627
Principal transactions 529,033 581,164 588,303
Investment banking 971,485 1,565,381 952,308
Asset management 1,262,919 1,206,516 917,424
Interest 1,099,115 548,400 523,832
Other income 19,685 72,125 75,345
Total revenues 4,592,826 4,783,086 3,817,839
Interest expense 201,387 45,998 65,778
Net revenues [1] 4,391,439 4,737,088 3,752,061
Non-interest expenses:      
Compensation and benefits 2,586,232 2,820,301 2,279,335
Occupancy and equipment rental 313,247 290,243 274,664
Communications and office supplies 175,135 165,490 164,736
Commissions and floor brokerage 57,752 59,681 55,960
Provision for credit losses 33,506 (11,502) 33,925
Other operating expenses 340,451 345,794 292,281
Total non-interest expenses 3,506,323 3,670,007 3,100,901
Income before income tax expense 885,116 1,067,081 651,160
Provision for income taxes 222,961 242,223 147,688
Net income 662,155 824,858 503,472
Preferred dividends 37,281 35,587 27,261
Net income available to common shareholders $ 624,874 $ 789,271 $ 476,211
Earnings per common share:      
Basic $ 5.74 $ 7.34 $ 4.49
Diluted 5.32 6.66 4.16
Cash dividends declared per common share $ 1.20 $ 0.60 $ 0.45
Weighted-average number of common shares outstanding:      
Basic 108,848 107,536 106,174
Diluted 117,540 118,530 114,573
[1] No individual client accounted for more than 10 percent of total net revenues for the years ended December 31, 2022, 2021, and 2020.