Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME

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CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues:      
Total revenues $ 806,428 $ 814,816 $ 719,700
Operating expenses:      
Cost of services 498,878 502,883 446,557
Selling, general and administrative expense 203,110 193,349 171,648
Depreciation and amortization expense 8,017 6,297 5,363
Total operating expenses 710,005 702,529 623,568
Operating income 96,423 112,287 96,132
Other income (expense), net 12,477 6,333 4,590
Interest expense (1,388) (1,400) (1,496)
Income before provision for income taxes 107,512 117,220 99,226
Provision for income taxes 30,582 29,963 47,702
Net income 76,930 87,257 51,524
Marketable securities, available-for-sale:      
Change in unrealized gains (losses) 1,822 (536) 193
Less: reclassification adjustment for net (gains) losses included in other income (expense), net (43) 7 0
Net change, net of tax of $611, $(177) and $139 for the years ended December 31, 2019, 2018 and 2017, respectively 1,779 (529) 193
Foreign currency translation (loss) gain, net of tax of $0 for each of the years ended December 31, 2019, 2018 and 2017, respectively (576) 377 (63)
Total other comprehensive income (loss) 1,203 (152) 130
Comprehensive income $ 78,133 $ 87,105 $ 51,654
Earnings per share:      
Basic $ 1.95 $ 2.23 $ 1.32
Diluted $ 1.95 $ 2.22 $ 1.32
Weighted average common shares outstanding:      
Basic 39,404 39,149 38,988
Diluted 39,548 39,383 39,100
Real Estate Brokerage Commissions [Member]      
Revenues:      
Total revenues $ 729,356 $ 747,355 $ 649,393
Financing Fees [Member]      
Revenues:      
Total revenues 66,293 57,817 49,653
Other Revenues [Member]      
Revenues:      
Total revenues $ 10,779 $ 9,644 $ 20,654