Revenues from Contracts with Customers (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Total Revenues Broken Out by Revenues from Contracts with Customers and Other Sources of Revenues

The following table presents the Company’s total revenues broken out by revenues from contracts with customers and other sources of revenue for the three and six months ended June 30, 2023 and 2022 (in thousands):

	Three Months Ended June 30,
	2023			2022
Revenues from contracts with customers:
Commissions	$	165,358		$	186,681
Investment banking		166,825			271,075
Asset management		320,264			331,264
Other		1,380			1,533
Total revenue from contracts with customers		653,827			790,553
Other sources of revenue:
Interest		482,770			212,754
Principal transactions		105,700			125,603
Other		(486	)		(3,450	)
Total revenues	$	1,241,811		$	1,125,460

	Six Months Ended June 30,
	2023			2022
Revenues from contracts with customers:
Commissions	$	334,908		$	382,590
Investment banking		378,704			525,921
Asset management		635,833			672,900
Other		2,607			3,708
Total revenue from contracts with customers		1,352,052			1,585,119
Other sources of revenue:
Interest		934,334			378,189
Principal transactions		221,222			284,873
Other		(4,006	)		3,263
Total revenues	$	2,503,602		$	2,251,444

Revenues from Contracts with Customers Disaggregated by Major Business Activity and Primary Geographic Regions

The following tables present the Company’s revenues from contracts with customers by reportable segment disaggregated by major business activity and primary geographic regions for the three and six months ended June 30, 2023 and 2022 (in thousands):

	Three Months Ended June 30, 2023 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	109,836	$	55,522	$	—	$	165,358
Capital raising		4,065		74,886		—		78,951
Advisory		—		86,595		1,279		87,874
Investment banking		4,065		161,481		1,279		166,825
Asset management		320,238		26		—		320,264
Other		1,318		—		62		1,380
Total		435,457		217,029		1,341		653,827
Primary Geographic Region:
United States		435,457		141,104		1,341		577,902
United Kingdom		—		45,221		—		45,221
Canada		—		7,614		—		7,614
Other		—		23,090		—		23,090
	$	435,457	$	217,029	$	1,341	$	653,827

(1) Excludes revenues not derived from contracts with customers included in the Other segment.

	Three Months Ended June 30, 2022 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major Business Activity:
Commissions	$	122,004	$	64,677	$	—	$	186,681
Capital raising		5,056		66,463		—		71,519
Advisory		—		199,556		—		199,556
Investment banking		5,056		266,019		—		271,075
Asset management		331,243		21		—		331,264
Other		1,472		—		61		1,533
Total		459,775		330,717		61		790,553
Primary Geographic Region:
United States		459,775		277,475		61		737,311
United Kingdom		—		37,047		—		37,047
Canada		—		7,782		—		7,782
Other		—		8,413		—		8,413
	$	459,775	$	330,717	$	61	$	790,553

	Six Months Ended June 30, 2023 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	220,027	$	114,881	$	—	$	334,908
Capital raising		8,223		131,544		—		139,767
Advisory		—		237,658		1,279		238,937
Investment banking		8,223		369,202		1,279		378,704
Asset management		635,775		58		—		635,833
Other		2,502		—		105		2,607
Total		866,527		484,141		1,384		1,352,052
Primary Geographic Region:
United States		866,527		351,981		1,384		1,219,892
United Kingdom		—		68,604		—		68,604
Canada		—		30,137		—		30,137
Other		—		33,419		—		33,419
	$	866,527	$	484,141	$	1,384	$	1,352,052

	Six Months Ended June 30, 2022 (1)
	Global Wealth Management		Institutional Group		Other		Total
Major business activity:
Commissions	$	252,780	$	129,810	$	—	$	382,590
Capital raising		10,203		134,766		—		144,969
Advisory		—		380,952		—		380,952
Investment banking		10,203		515,718		—		525,921
Asset management		672,856		44		—		672,900
Other		3,594		—		114		3,708
Total		939,433		645,572		114		1,585,119
Primary Geographic Region:
United States		939,433		540,061		114		1,479,608
United Kingdom		—		71,355		—		71,355
Canada		—		17,123		—		17,123
Other		—		17,033		—		17,033
	$	939,433	$	645,572	$	114	$	1,585,119

(1) Excludes revenues not derived from contracts with customers included in the Other segment.