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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Revenue $ 178,200,000 $ 196,400,000 $ 527,400,000 $ 609,800,000
Total revenue 182,400,000 197,800,000 539,700,000 612,100,000
Operating expenses:        
Impairment of goodwill 0 0 16,400,000 0
Amortization of acquired intangibles 1,600,000 1,600,000 5,100,000 4,900,000
Total operating expenses 141,900,000 145,900,000 398,900,000 445,600,000
Operating income 40,500,000 51,900,000 140,800,000 166,500,000
Non-operating income and (expense):        
Gain on sale of Affiliate 7,200,000   7,200,000  
Net consolidated Funds’ investment gains 6,000,000.0 7,000,000.0 17,300,000 25,200,000
Total non-operating income (loss) 6,300,000 (900,000) 2,900,000 2,900,000
Income from continuing operations before taxes 46,800,000 51,000,000.0 143,700,000 169,400,000
Income tax expense (benefit) 12,800,000 (32,000,000.0) 33,700,000 3,700,000
Income from continuing operations 34,000,000.0 83,000,000.0 110,000,000.0 165,700,000
Gain (loss) on disposal of discontinued operations, net of tax 0 0 0 0
Net income 34,000,000.0 83,000,000.0 110,000,000.0 165,700,000
Net income (loss) attributable to non-controlling interests in consolidated Funds (3,200,000) 7,600,000 21,300,000 9,600,000
Net income attributable to controlling interests $ 37,200,000 $ 75,400,000 $ 88,700,000 $ 156,100,000
Earnings per share (basic) attributable to controlling interests (in dollars per share) $ 0.46 $ 0.84 $ 1.08 $ 1.68
Earnings per share (diluted) attributable to controlling interests (in dollars per share) 0.46 0.84 1.08 1.68
Continuing operations earnings per share (basic) attributable to controlling interests (in dollars per share) 0.46 0.84 1.08 1.68
Continuing operations earnings per share (diluted) attributable to controlling interests (in dollars per share) $ 0.46 $ 0.84 $ 1.08 $ 1.68
Weighted average common stock outstanding (in shares) 80,001,360 89,970,871 81,832,607 92,996,289
Weighted average diluted common stock outstanding (in shares) 80,851,538 89,972,300 82,126,530 93,076,064
Consolidated Entity Excluding Consolidated Funds        
Revenue:        
Other revenue $ 1,600,000 $ 1,400,000 $ 5,200,000 $ 4,300,000
Operating expenses:        
Compensation and benefits 109,700,000 108,000,000.0 284,000,000.0 332,800,000
General and administrative expense 25,400,000 31,700,000 77,600,000 95,300,000
Impairment of goodwill     16,400,000 0
Amortization of acquired intangibles 1,600,000 1,600,000 5,100,000 4,900,000
Depreciation and other amortization 5,200,000 4,400,000 15,600,000 12,200,000
Non-operating income and (expense):        
Investment income (loss) 3,900,000 2,300,000 (3,200,000) 11,400,000
Interest income 0 400,000 500,000 1,800,000
Interest expense (6,900,000) (8,300,000) (22,100,000) (24,100,000)
Gain on sale of Affiliate 7,200,000 0 7,200,000 0
Consolidated Funds        
Revenue:        
Total revenue 1,400,000 1,900,000 4,600,000 4,900,000
Operating expenses:        
Total operating expenses 0 200,000 200,000 400,000
Non-operating income and (expense):        
Net consolidated Funds’ investment gains 2,100,000 4,700,000 20,500,000 13,800,000
Net income (loss) attributable to non-controlling interests in consolidated Funds (3,200,000) 7,600,000 21,300,000 9,600,000
Management fees        
Revenue:        
Revenue 178,200,000 196,400,000 527,400,000 609,800,000
Management fees | Consolidated Entity Excluding Consolidated Funds        
Revenue:        
Revenue 178,200,000 196,400,000 527,400,000 609,800,000
Performance fees | Consolidated Entity Excluding Consolidated Funds        
Revenue:        
Revenue $ 1,200,000 $ (1,900,000) $ 2,500,000 $ (6,900,000)