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Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Revenues:        
Commissions $ 145,837 $ 125,509 $ 446,498 $ 370,107
Principal transactions 122,583 102,474 341,153 311,420
Investment banking 92,851 71,743 289,199 208,342
Asset management and service fees 76,710 62,881 221,711 189,010
Interest 39,130 26,360 101,829 78,728
Other income 13,063 31,094 45,269 49,991
Total revenues 490,174 420,061 1,445,659 1,207,598
Interest expense 11,535 5,904 34,738 24,768
Net revenues 478,639 [1] 414,157 [1] 1,410,921 [1] 1,182,830 [1]
Non-interest expenses:        
Compensation and benefits 326,020 264,458 958,179 751,992
Occupancy and equipment rental 41,288 32,596 116,090 94,776
Communications and office supplies 26,122 19,561 74,034 60,115
Commissions and floor brokerage 10,150 7,842 28,777 22,339
Other operating expenses 44,051 28,526 126,600 84,212
Total non-interest expenses 447,631 352,983 1,303,680 1,013,434
Income before income tax expense 31,008 61,174 107,241 169,396
Provision for income taxes (43,921) 23,740 (13,541) 67,384
Income from continuing operations 74,929 37,434 120,782 102,012
Income/(loss) from discontinued operations, net of tax (5,239) 276 (7,037) (3,393)
Net income $ 69,690 $ 37,710 $ 113,745 $ 98,619
Earnings per basic common share        
Income from continuing operations $ 1.16 $ 0.70 $ 1.91 $ 1.91
Income/(loss) from discontinued operations $ (0.08)   $ (0.11) $ (0.07)
Earnings per basic common share $ 1.08 $ 0.70 $ 1.80 $ 1.84
Earnings per diluted common share        
Income from continuing operations $ 1.00 $ 0.60 $ 1.66 $ 1.62
Income/(loss) from discontinued operations $ (0.07)   $ (0.10) $ (0.05)
Earnings per diluted common share $ 0.93 $ 0.60 $ 1.56 $ 1.57
Weighted average number of common shares outstanding:        
Basic 64,706 53,601 63,133 53,471
Diluted 75,191 63,054 72,851 62,817
[1] No individual client accounted for more than 10 percent of total net revenues for the three and nine months ended September 30, 2013 or 2012.