Segment Reporting Information |
Year ended December 31, 2016 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
Services |
|
|
Real
Estate
Services |
|
|
Corporate
Items |
|
|
Total |
|
Brokerage revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rates
|
|
$ |
468,798 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
468,798 |
|
Credit
|
|
|
291,760 |
|
|
|
— |
|
|
|
— |
|
|
|
291,760 |
|
Foreign exchange
|
|
|
303,310 |
|
|
|
— |
|
|
|
— |
|
|
|
303,310 |
|
Energy and commodities
|
|
|
222,876 |
|
|
|
— |
|
|
|
— |
|
|
|
222,876 |
|
Equities and other asset classes
|
|
|
174,985 |
|
|
|
— |
|
|
|
— |
|
|
|
174,985 |
|
Leasing and other services
|
|
|
— |
|
|
|
513,812 |
|
|
|
— |
|
|
|
513,812 |
|
Real estate capital markets
|
|
|
— |
|
|
|
344,167 |
|
|
|
— |
|
|
|
344,167 |
|
Real estate management services
|
|
|
— |
|
|
|
196,801 |
|
|
|
— |
|
|
|
196,801 |
|
Fees from related parties
|
|
|
— |
|
|
|
— |
|
|
|
24,200 |
|
|
|
24,200 |
|
Data, software and post-trade
|
|
|
54,309 |
|
|
|
— |
|
|
|
— |
|
|
|
54,309 |
|
Other revenues
|
|
|
4,596 |
|
|
|
168 |
|
|
|
570 |
|
|
|
5,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-interest revenues
|
|
|
1,520,634 |
|
|
|
1,054,948 |
|
|
|
24,770 |
|
|
|
2,600,352 |
|
Interest income
|
|
|
2,601 |
|
|
|
3,374 |
|
|
|
6,296 |
|
|
|
12,271 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
1,523,235 |
|
|
|
1,058,322 |
|
|
|
31,066 |
|
|
|
2,612,623 |
|
Interest expense
|
|
|
— |
|
|
|
— |
|
|
|
57,637 |
|
|
|
57,637 |
|
Non-interest expenses
|
|
|
1,275,397 |
|
|
|
931,939 |
|
|
|
267,556 |
|
|
|
2,474,892 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
1,275,397 |
|
|
|
931,939 |
|
|
|
325,193 |
|
|
|
2,532,529 |
|
Other income (losses), net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain (loss) on divestiture and sale of investments
|
|
|
— |
|
|
|
— |
|
|
|
7,044 |
|
|
|
7,044 |
|
Gains (losses) on equity investments
|
|
|
— |
|
|
|
— |
|
|
|
3,543 |
|
|
|
3,543 |
|
Other income (losses)
|
|
|
78,701 |
|
|
|
— |
|
|
|
18,878 |
|
|
|
97,579 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (losses), net
|
|
|
78,701 |
|
|
|
— |
|
|
|
29,465 |
|
|
|
108,166 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations before income taxes
|
|
$ |
326,539 |
|
|
$ |
126,383 |
|
|
$ |
(264,662 |
) |
|
$ |
188,260 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2015 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
Services |
|
|
Real
Estate
Services |
|
|
Corporate
Items |
|
|
Total |
|
Brokerage revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rates
|
|
$ |
471,239 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
471,239 |
|
Credit
|
|
|
271,601 |
|
|
|
— |
|
|
|
— |
|
|
|
271,601 |
|
Foreign exchange
|
|
|
324,774 |
|
|
|
— |
|
|
|
— |
|
|
|
324,774 |
|
Energy and commodities
|
|
|
196,190 |
|
|
|
— |
|
|
|
— |
|
|
|
196,190 |
|
Equities and other asset classes
|
|
|
172,320 |
|
|
|
— |
|
|
|
— |
|
|
|
172,320 |
|
Leasing and other services
|
|
|
— |
|
|
|
539,727 |
|
|
|
— |
|
|
|
539,727 |
|
Real estate capital markets
|
|
|
— |
|
|
|
269,151 |
|
|
|
— |
|
|
|
269,151 |
|
Real estate management services
|
|
|
— |
|
|
|
187,118 |
|
|
|
— |
|
|
|
187,118 |
|
Fees from related parties
|
|
|
108 |
|
|
|
— |
|
|
|
25,240 |
|
|
|
25,348 |
|
Data, software and post-trade
|
|
|
102,371 |
|
|
|
— |
|
|
|
— |
|
|
|
102,371 |
|
Other revenues
|
|
|
8,174 |
|
|
|
1,270 |
|
|
|
513 |
|
|
|
9,957 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-interest revenues
|
|
|
1,546,777 |
|
|
|
997,266 |
|
|
|
25,753 |
|
|
|
2,569,796 |
|
Interest income
|
|
|
1,382 |
|
|
|
1,184 |
|
|
|
8,077 |
|
|
|
10,643 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
1,548,159 |
|
|
|
998,450 |
|
|
|
33,830 |
|
|
|
2,580,439 |
|
|
|
|
|
|
Interest expense
|
|
|
661 |
|
|
|
12 |
|
|
|
68,686 |
|
|
|
69,359 |
|
Non-interest expenses
|
|
|
1,330,648 |
|
|
|
868,652 |
|
|
|
451,281 |
|
|
|
2,650,581 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
1,331,309 |
|
|
|
868,664 |
|
|
|
519,967 |
|
|
|
2,719,940 |
|
Other income (losses), net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gain (loss) on divestiture and sale of investments
|
|
|
— |
|
|
|
— |
|
|
|
394,347 |
|
|
|
394,347 |
|
Gains (losses) on equity investments
|
|
|
— |
|
|
|
— |
|
|
|
2,597 |
|
|
|
2,597 |
|
Other income (losses)
|
|
|
68,033 |
|
|
|
— |
|
|
|
55,135 |
|
|
|
123,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (losses), net
|
|
|
68,033 |
|
|
|
— |
|
|
|
452,079 |
|
|
|
520,112 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations before income taxes
|
|
$ |
284,883 |
|
|
$ |
129,786 |
|
|
$ |
(34,058 |
) |
|
$ |
380,611 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended December 31, 2014 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Financial
Services |
|
|
Real
Estate
Services |
|
|
Corporate
Items |
|
|
Total |
|
Brokerage revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rates
|
|
$ |
412,224 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
412,224 |
|
Credit
|
|
|
215,583 |
|
|
|
— |
|
|
|
— |
|
|
|
215,583 |
|
Foreign exchange
|
|
|
224,911 |
|
|
|
— |
|
|
|
— |
|
|
|
224,911 |
|
Energy and commodities
|
|
|
55,788 |
|
|
|
— |
|
|
|
— |
|
|
|
55,788 |
|
Equities and other asset classes
|
|
|
110,410 |
|
|
|
— |
|
|
|
— |
|
|
|
110,410 |
|
Leasing and other services
|
|
|
— |
|
|
|
418,725 |
|
|
|
(948 |
) |
|
|
417,777 |
|
Real estate capital markets
|
|
|
— |
|
|
|
125,170 |
|
|
|
— |
|
|
|
125,170 |
|
Real estate management services
|
|
|
— |
|
|
|
163,227 |
|
|
|
— |
|
|
|
163,227 |
|
Fees from related parties
|
|
|
120 |
|
|
|
— |
|
|
|
28,259 |
|
|
|
28,379 |
|
Data, software and post-trade
|
|
|
11,565 |
|
|
|
— |
|
|
|
— |
|
|
|
11,565 |
|
Other revenues
|
|
|
14,142 |
|
|
|
1,134 |
|
|
|
1,956 |
|
|
|
17,232 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-interest revenues
|
|
|
1,044,743 |
|
|
|
708,256 |
|
|
|
29,267 |
|
|
|
1,782,266 |
|
Interest income
|
|
|
1,688 |
|
|
|
537 |
|
|
|
5,088 |
|
|
|
7,313 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
|
1,046,431 |
|
|
|
708,793 |
|
|
|
34,355 |
|
|
|
1,789,579 |
|
Interest expense
|
|
|
3,197 |
|
|
|
32 |
|
|
|
34,716 |
|
|
|
37,945 |
|
Non-interest expenses
|
|
|
873,952 |
|
|
|
639,625 |
|
|
|
293,277 |
|
|
|
1,806,854 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total expenses
|
|
|
877,149 |
|
|
|
639,657 |
|
|
|
327,993 |
|
|
|
1,844,799 |
|
Other income (losses), net:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gains (losses) on equity method investments
|
|
|
— |
|
|
|
— |
|
|
|
(7,969 |
) |
|
|
(7,969 |
) |
Other income (losses)
|
|
|
52,769 |
|
|
|
— |
|
|
|
(3,342 |
) |
|
|
49,427 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income (losses), net
|
|
|
52,769 |
|
|
|
— |
|
|
|
(11,311 |
) |
|
|
41,458 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) from operations before income taxes
|
|
$ |
222,051 |
|
|
$ |
69,136 |
|
|
$ |
(304,949 |
) |
|
$ |
(13,762 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|