| Dec 31,
2019 | Dec 31,
2020 | Dec 31,
2021 | Dec 31,
2022 | Dec 31,
2023 | Dec 31,
2024 |
|---|
| Net income | 173 | 218 | 273 | 360 | 420 | 570 |
|---|
| Depreciation and amortization | 139 | 154 | 171 | 179 | 185 | 220 |
|---|
| Stock-based compensation expense | 50 | 39 | 52 | 67 | 65 | 90 |
|---|
| Deferred tax expense | 15 | 65 | 85 | 53 | 90 | 32 |
|---|
| Tax receivable agreement liability adjustment | 33 | 11 | 13 | 14 | -9 | 8 |
|---|
| Other (income) loss, net | - | - | - | - | -13 | -1 |
|---|
| Receivable from/payable to brokers and dealers and clearing organizations, net | -3 | -0 | -0 | 0 | 29 | -29 |
|---|
| Deposits with clearing organizations | -2 | 2 | -9 | 4 | 13 | 17 |
|---|
| Accounts receivable | 4 | 12 | 22 | 17 | 21 | 44 |
|---|
| Receivable and due from affiliates/payable and due to affiliates, net | 2 | -6 | 5 | -3 | 4 | 9 |
|---|
| Deferred tax asset as a result of transferable tax credit purchase | - | - | - | - | - | 24 |
|---|
| Other assets | 6 | 35 | -6 | 2 | 4 | 12 |
|---|
| Securities sold under agreements to repurchase | - | - | - | - | 22 | -22 |
|---|
| Accrued compensation | -2 | 9 | 25 | -1 | 8 | 56 |
|---|
| Deferred revenue | -4 | -1 | 1 | -2 | 3 | 5 |
|---|
| Accounts payable, accrued expenses and other liabilities | -4 | 11 | -3 | 10 | 2 | 30 |
|---|
| Net cash provided by operating activities | 311 | 443 | 578 | 633 | 746 | 898 |
|---|
| Cash paid for acquisitions, net of cash acquired | - | - | 208 | - | 70 | 860 |
|---|
| Cash paid for foreign currency call option, net of sale proceeds | - | - | - | - | 1 | - |
|---|
| Cash paid for investments | - | 20 | - | - | - | 20 |
|---|
| Purchases of furniture, equipment, software and leasehold improvements | 16 | 11 | 17 | 23 | 19 | 41 |
|---|
| Capitalized software development costs | 29 | 31 | 34 | 37 | 43 | 48 |
|---|
| Net cash used in investing activities | -44 | -63 | -259 | -60 | -133 | -969 |
|---|
| Share repurchases pursuant to share repurchase programs | - | - | 76 | 99 | 35 | 59 |
|---|
| Proceeds from Stock Options Exercised | - | 101 | 93 | 10 | 15 | 7 |
|---|
| Deferred financing costs | - | - | - | - | 3 | - |
|---|
| Dividends | 36 | 58 | 65 | 66 | 76 | 85 |
|---|
| Distributions to non-controlling interests | 38 | 17 | 11 | 11 | 12 | 28 |
|---|
| Payroll taxes paid for stock-based compensation | 9 | 76 | 71 | 102 | 51 | 48 |
|---|
| Payments on tax receivable agreement liability | - | - | 7 | 9 | 6 | 77 |
|---|
| Net cash used in financing activities | -218 | -53 | -136 | -277 | -168 | -290 |
|---|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | 2 | 3 | -2 | -11 | 4 | -4 |
|---|
| Net increase (decrease) in cash, cash equivalents and restricted cash | 50 | 331 | 181 | 285 | 449 | -366 |
|---|
| Income Taxes Paid, Net | - | - | 4 | 13 | 29 | 152 |
|---|
| Cash paid for interest | - | - | - | - | - | 3 |
|---|
| Stock Issued | - | - | - | - | - | 40 |
|---|
| Capital Expenditures Incurred but Not yet Paid | - | - | - | 4 | 2 | 0 |
|---|
| Unsettled share repurchases included in other liabilities | - | - | - | - | - | 1 |
|---|
| Noncash Financing Activities, Taxes Payable Relating to Stock-based Compensation Settlements | - | - | - | - | 0 | 0 |
|---|
| Right-of-Use Asset Obtained In Exchange For Operating Lease Liability Net Of Modifications | - | - | - | 9 | 10 | 20 |
|---|
| Share-Based Payment Arrangement, Amount Capitalized | - | - | - | 1 | 2 | 2 |
|---|
| Liabilities Assumed | - | - | 28 | 36 | 28 | 0 |
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| Deferred tax asset | - | - | 123 | 124 | 81 | -15 |
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| Other - See Note 14 | - | - | 2 | 3 | - | - |
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