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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
REVENUES        
Commissions and fees $ 617,363 $ 529,813 $ 1,807,758 $ 1,502,219
Investment income 1,668 719 4,274 2,051
Other income, net (348) 318 1,150 1,228
Total revenues 618,683 530,850 1,813,182 1,505,498
EXPENSES        
Employee compensation and benefits 331,120 268,045 973,567 790,902
Other operating expenses 96,409 83,697 283,242 243,704
(Gain)/loss on disposal (3,815) 1,106 (4,326) (1,544)
Amortization 26,272 21,637 78,418 62,961
Depreciation 5,815 5,259 17,516 16,410
Interest 16,314 8,963 47,805 28,686
Change in estimated acquisition earn-out payables (5,270) (357) (6,920) 2,528
Total expenses 466,845 388,350 1,389,302 1,143,647
Income before income taxes 151,838 142,500 423,880 361,851
Income taxes 36,332 36,447 101,885 91,048
Net income $ 115,506 $ 106,053 $ 321,995 $ 270,803
Net income per share:        
Basic (in dollars per share) $ 0.41 $ 0.38 $ 1.14 $ 0.98
Diluted (in dollars per share) 0.41 0.38 1.14 0.96
Dividends declared per share (in dollars per share) $ 0.080 $ 0.075 $ 0.240 $ 0.225