Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Intersegment Balances

(in thousands)	Advisory		Trust			Westwood Holdings			Eliminations			Consolidated
Year Ended December 31, 2017
Revenues:
Net fee revenues from external sources	$	100,612	$	31,621		$	—		$	—		$	132,233
Net intersegment revenues	8,120		218			—			(8,338		)	—
Net interest and dividend revenue	546		90			—			—			636
Other revenue	911		5			—			—			916
Total revenues	110,189		31,934			—			(8,338		)	133,785
Expenses:
Depreciation and amortization	548		1,900			468			—			2,916
Other operating expenses	58,950		28,580			17,784			(8,338		)	96,976
Total expenses	59,498		30,480			18,252			(8,338		)	99,892
Income (loss) before income taxes	50,691		1,454			(18,252		)	—			33,893
Income tax expense (benefit)	17,120		(47		)	(3,169		)	—			13,904
Net income (loss)	$	33,571	$	1,501		$	(15,083	)	$	—		$	19,989
Add: Restricted stock expense	$	9,140	$	2,641		$	4,649		$	—		$	16,430
Intangible amortization	138		1,734			—			—			1,872
Deferred taxes on goodwill	38		588			—			—			626
Economic Earnings (Loss)	$	42,887	$	6,464		$	(10,434	)	$	—		$	38,917
Segment assets	$	207,792	$	69,174		$	18,437		$	(102,744	)	$	192,659
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144
Expenditures for long-lived assets	$	151	$	530		$	203		$	—		$	884
Year Ended December 31, 2016
Revenues:
Net fee revenues from external sources	$	92,127	$	30,313		$	—		$	—		$	122,440
Net intersegment revenues	7,533		130			—			(7,663		)	—
Net interest and dividend revenue	534		13			—			—			547
Other revenue	294		(260		)	—			—			34
Total revenues	100,488		30,196			—			(7,663		)	123,021
Expenses:
Depreciation and amortization	575		1,975			379			—			2,929
Other operating expenses	50,824		27,348			15,573			(7,663		)	86,082
Total expenses	51,399		29,323			15,952			(7,663		)	89,011
Income (loss) before income taxes	49,089		873			(15,952		)	—			34,010
Income tax expense (benefit)	16,331		426			(5,394		)	—			11,363
Net income	$	32,758	$	447		$	(10,558	)	$	—		$	22,647
Add: Restricted stock expense	$	9,632	$	3,026		$	3,296		$	—		$	15,954
Intangible amortization	160		1,800			—			—			1,960
Deferred taxes on goodwill	38		509			—			—			547
Economic Earnings	$	42,588	$	5,782		$	(7,262	)	$	—		$	41,108
Segment assets	$	174,951	$	67,330		$	13,985		$	(76,588	)	$	179,678
Segment goodwill	$	5,219	$	21,925		$	—		$	—		$	27,144
Expenditures for long-lived assets	$	705	$	530		$	584		$	—		$	1,819

(in thousands)	Advisory			Trust		Westwood Holdings			Eliminations			Consolidated
Year Ended December 31, 2015
Revenues:
Net fee revenues from external sources	$	101,973		$	28,795	$	—		$	—		$	130,768
Net intersegment revenues	19,001			—		—			(19,001		)	—
Net interest and dividend revenue	425			1		—			—			426
Other revenue	(341		)	83		—			—			(258		)
Total revenues	121,058			28,879		—			(19,001		)	130,936
Expenses:
Depreciation and amortization	773			1,724		99			—			2,596
Other operating expenses	63,658			25,882		15,581			(19,001		)	86,120
Total expenses	64,431			27,606		15,680			(19,001		)	88,716
Income (loss) before income taxes	56,627			1,273		(15,680		)	—			42,220
Income tax expense (benefit)	19,330			517		(4,732		)	—			15,115
Net income (loss)	$	37,297		$	756	$	(10,948	)	$	—		$	27,105
Add: Restricted stock expense	$	11,877		$	2,613	$	3,084		$	—		$	17,574
Intangible amortization	161			1,385		—			—			1,546
Deferred taxes on goodwill	38			233		—			—			271
Economic Earnings (Loss)	$	49,373		$	4,987	$	(7,864	)	$	—		$	46,496
Segment assets	$	183,004		$	60,459	$	8,816		$	(70,943	)	$	181,336
Segment goodwill	$	5,219		$	21,925	$	—		$	—		$	27,144
Expenditures for long-lived assets	$	369		$	180	$	267		$	—		$	816

Schedule of Economic Earnings

The following table provides a reconciliation of Net income to Economic Earnings (in thousands):

	For the years ended December 31,
	2017		2016		2015
Net Income	$	19,989	$	22,647	$	27,105
Add: Restricted stock expense	16,430		15,954		17,574
Add: Intangible amortization	1,872		1,960		1,546
Add: Tax benefit from goodwill amortization	626		547		271
Economic Earnings	$	38,917	$	41,108	$	46,496

Revenues by Geographic Location

	Years ended December 31,
(in thousands)	2017		2016		2015
Revenues by geographic location of client:
U.S.	$	111,097	$	103,261	$	109,816
Canada	9,169		7,714		9,238
Europe	3,873		5,416		6,019
Asia	6,312		4,872		4,538
Australia	3,334		1,758		1,325
Total Revenues	$	133,785	$	123,021	$	130,936

Property and Equipment, Net by Geographic Area

	As of December 31,
(in thousands)	2017		2016
Property and equipment, net, by geographic area:
U.S.	$	4,107	$	4,002
Canada	83		278
Total Property and equipment, net	$	4,190	$	4,280