v3.19.3.a.u2
Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands |
12 Months Ended |
|
|
|
REVENUES: |
|
|
|
Commission |
$ 1,892,407
|
$ 1,919,694
|
$ 1,670,824
|
Advisory |
1,982,869
|
1,793,493
|
1,409,247
|
Asset-based |
1,165,979
|
972,515
|
708,333
|
Transaction and fee |
480,328
|
471,299
|
424,667
|
Interest income, net of interest expense |
46,508
|
40,210
|
24,473
|
Other |
56,765
|
(8,811)
|
43,937
|
Total net revenues |
5,624,856
|
5,188,400
|
4,281,481
|
EXPENSES: |
|
|
|
Commission and advisory |
3,388,186
|
3,177,576
|
2,669,599
|
Compensation and benefits |
556,128
|
506,650
|
456,918
|
Promotional |
205,537
|
208,603
|
171,661
|
Depreciation and amortization |
95,779
|
87,656
|
84,071
|
Amortization of intangible assets |
65,334
|
60,252
|
38,293
|
Occupancy and equipment |
136,163
|
115,598
|
97,332
|
Professional services |
73,887
|
85,651
|
71,407
|
Brokerage, clearing, and exchange |
64,445
|
63,154
|
57,047
|
Communications and data processing |
49,859
|
46,322
|
44,941
|
Other |
114,546
|
119,278
|
96,210
|
Total operating expenses |
4,749,864
|
4,470,740
|
3,787,479
|
Non-operating interest expense and other |
130,001
|
125,023
|
107,025
|
Loss on extinguishment of debt |
(3,156)
|
0
|
(22,407)
|
INCOME BEFORE PROVISION FOR INCOME TAXES |
741,835
|
592,637
|
364,570
|
PROVISION FOR INCOME TAXES |
181,955
|
153,178
|
125,707
|
NET INCOME |
$ 559,880
|
$ 439,459
|
$ 238,863
|
EARNINGS PER SHARE (Note 17) |
|
|
|
Earnings per share, basic |
$ 6.78
|
$ 4.99
|
$ 2.65
|
Earnings per share, diluted |
$ 6.62
|
$ 4.85
|
$ 2.59
|
Weighted-average shares outstanding, basic |
82,552
|
88,119
|
90,002
|
Weighted-average shares outstanding, diluted |
84,624
|
90,619
|
92,115
|
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- DefinitionAmount of fees charged on the LPL corporate RIA platform provided through LPL Financial to clients of LPL advisors based on the value of their advisory assets.
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- DefinitionGross commissions and advisory fees that are earned and paid out to customers based on the sale of various products and services, production bonuses for achieving production levels, share-based compensation expense for stock options and warrants granted to customers, and deferred commissions for customers as part of a non-qualified deferred compensation plan.
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