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Unaudited Condensed Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Total revenues $ 313,109 $ 301,545 $ 650,163 $ 561,469
OPERATING EXPENSES:        
Compensation and related expenses 113,914 105,531 231,758 206,979
Management fees 76,987 79,252 160,680 136,258
Selling, general and administrative 52,752 59,736 115,347 111,993
Management contract buyout       1,428
Intangible amortization 36,012 31,221 71,735 59,962
Non-cash changes in fair value of estimated contingent consideration 16,472 3,847 (14,901) 11,261
Depreciation and other amortization 3,029 2,425 6,011 4,738
Total operating expenses 299,166 282,012 570,630 532,619
INCOME FROM OPERATIONS 13,943 19,533 79,533 28,850
OTHER INCOME (EXPENSE):        
Interest income 66 339 351 536
Interest expense (10,057) (14,424) (23,643) (27,283)
Amortization of debt financing costs (709) (782) (1,491) (1,564)
Loss on extinguishment of borrowings     (6,094)  
Other (expense) income-net 70 (468) 682 (704)
Income from equity method investments 52 329 116 643
Total other expense-net (10,578) (15,006) (30,079) (28,372)
INCOME BEFORE INCOME TAX 3,365 4,527 49,454 478
INCOME TAX EXPENSE 37 1,425 12,107 204
NET INCOME 3,328 3,102 37,347 274
Non-controlling interest (919) (2,306) (14,542) (2,420)
NET INCOME (LOSS ) ATTRIBUTABLE TO COMMON SHAREHOLDERS 2,409 796 $ 22,805 $ (2,146)
Income (loss) per share of Class A common stock:        
Basic income (loss) per share     $ 0.48 $ (0.05)
Wealth management fees        
REVENUES:        
Total revenues 295,119 283,296 $ 613,722 $ 526,380
Other        
REVENUES:        
Total revenues $ 17,990 $ 18,249 $ 36,441 $ 35,089
Class A common stock        
Income (loss) per share of Class A common stock:        
Basic income (loss) per share $ 0.05 $ 0.02 $ 0.48 $ (0.05)
Diluted income (loss) per share $ 0.03 $ 0.02 $ 0.48 $ (0.05)
Weighted average shares of Class A common stock outstanding:        
Weighted average shares of Class A common stock outstanding 47,847,756 46,696,200 47,642,156 46,455,238
Weighted average shares of Class A common stock outstanding 73,418,108 46,721,559 47,651,057 46,455,238