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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Income Statement [Abstract]        
REVENUE $ 39,580 $ 36,229 $ 117,180 $ 102,386
EXPENSES        
Compensation and Benefits Expense 16,122 14,763 47,520 44,681
General and Administrative Expense 3,322 3,062 9,856 9,585
Total Operating Expenses 19,444 17,825 57,376 54,266
Operating Income 20,136 18,404 59,804 48,120
OTHER INCOME        
Interest Income 234 76 382 106
Dividend Income 52 117 127 318
Net Realized and Unrealized Gains/ (Losses) from Investments 142 626 (71) 1,719
Equity in Earnings/ (Losses) of Affiliates 204 428 (73) 1,083
Other (Expense)/ Income (27) 59 (22) 178
Total Other Income 605 1,306 343 3,404
Income Before Income Taxes 20,741 19,710 60,147 51,524
Income Tax Expense 1,294 2,493 5,677 6,460
Net Income 19,447 17,217 54,470 45,064
Less: Net Income Attributable to Non-Controlling Interests 15,185 14,228 43,213 37,110
Net Income Attributable to Pzena Investment Management, Inc. 4,262 2,989 11,257 7,954
Net Income for Basic Earnings per Share $ 4,262 $ 2,989 $ 11,257 $ 7,954
Basic Earnings per Share $ 0.24 $ 0.17 $ 0.63 $ 0.46
Basic Weighted Average Shares Outstanding [1] 17,489,380 17,285,307 17,752,788 17,319,948
Net Income for Diluted Earnings per Share $ 15,786 $ 11,862 $ 44,033 $ 31,077
Diluted Earnings per Share $ 0.22 $ 0.17 $ 0.61 $ 0.44
Diluted Weighted Average Shares Outstanding [1] 71,677,806 70,763,213 71,934,411 70,845,892
Cash Dividends per Share of Class A Common Stock $ 0.03 $ 0.03 $ 0.48 $ 0.34
[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.