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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
REVENUE $ 45,244 $ 51,622 $ 146,701 $ 148,370
EXPENSES        
Compensation and Benefits Expense 18,630 18,921 58,242 57,091
General and Administrative Expense 8,962 4,304 19,625 11,920
Total Operating Expenses 27,592 23,225 77,867 69,011
Operating Income 17,652 28,397 68,834 79,359
OTHER INCOME/ (EXPENSE)        
Interest Income 680 53 787 153
Dividend Income 310 333 1,421 691
Net Realized and Unrealized (Losses)/ Gains from Investments (3,288) 86 (10,017) 3,548
Equity in (Losses)/ Earnings of Affiliates (2,153) (16) (3,865) 1,991
Other (Expense)/ Income (63) (82) (386) 76
Total Other (Expense)/ Income (4,514) 374 (12,060) 6,459
Income Before Income Taxes 13,138 28,771 56,774 85,818
Income Tax (Benefit)/ Expense (2,650) 68 8,065 5,009
Net Income 15,788 28,703 48,709 80,809
Less: Net Income Attributable to Non-Controlling Interests 13,091 23,635 40,674 66,951
Net Income Attributable to Pzena Investment Management, Inc. 2,697 5,068 8,035 13,858
Supplemental Income Statement Elements [Abstract]        
Net Income for Basic Earnings per Share $ 2,697 $ 5,068 $ 8,035 $ 13,858
Basic Earnings per Share $ 0.16 $ 0.29 $ 0.47 $ 0.80
Basic Weighted Average Shares Outstanding [1] 16,744,993 17,694,559 17,019,499 17,398,518
Net Income for Diluted Earnings per Share $ 12,782 $ 22,663 $ 39,026 $ 63,571
Diluted Earnings per Share $ 0.15 $ 0.27 $ 0.45 $ 0.76
Diluted Weighted Average Shares Outstanding [1] 86,544,580 84,197,618 86,189,118 84,020,711
Cash Dividends per Share of Class A Common Stock $ 0.03 $ 0.03 $ 0.59 $ 0.31
[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.