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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
REVENUE $ 48,697 $ 50,877 $ 101,457 $ 96,748
EXPENSES        
Compensation and Benefits Expense 18,426 19,035 39,612 38,170
General and Administrative Expense 5,718 3,920 10,663 7,616
Total Operating Expenses 24,144 22,955 50,275 45,786
Operating Income 24,553 27,922 51,182 50,962
OTHER INCOME/ (EXPENSE)        
Interest Income 81 45 107 100
Dividend Income 675 216 1,111 358
Net Realized and Unrealized (Losses)/ Gains from Investments (6,547) 899 (6,729) 3,462
Equity in (Losses)/ Earnings of Affiliates (1,649) 470 (1,712) 2,007
Other (Expense)/ Income (184) 100 (323) 158
Total Other (Expense)/ Income (7,624) 1,730 (7,546) 6,085
Income Before Income Taxes 16,929 29,652 43,636 57,047
Income Tax Expense 2,490 2,575 10,715 4,941
Net Income 14,439 27,077 32,921 52,106
Less: Net Income Attributable to Non-Controlling Interests 11,916 22,474 27,583 43,316
Net Income Attributable to Pzena Investment Management, Inc. 2,523 4,603 5,338 8,790
Supplemental Income Statement Elements [Abstract]        
Net Income for Basic Earnings per Share $ 2,523 $ 4,603 $ 5,338 $ 8,790
Basic Earnings per Share $ 0.15 $ 0.27 $ 0.31 $ 0.51
Basic Weighted Average Shares Outstanding [1] 16,969,301 17,255,593 17,159,027 17,248,045
Net Income for Diluted Earnings per Share $ 12,755 $ 21,176 $ 26,245 $ 40,906
Diluted Earnings per Share $ 0.15 $ 0.25 $ 0.31 $ 0.49
Diluted Weighted Average Shares Outstanding [1] 85,293,053 84,336,569 85,985,519 83,932,385
Cash Dividends per Share of Class A Common Stock $ 0.03 $ 0.03 $ 0.31 $ 0.28
[1] The Company issues restricted shares of Class A common stock and restricted Class B units that have non-forfeitable dividend rights. Under the "two-class method," these shares and units are considered participating securities and are required to be included in the computation of basic and diluted earnings per share.