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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Other revenue $ 0.0 $ 1.3 $ 0.0 $ 2.6
Total revenue 95.5 133.3 207.7 243.0
Operating expenses:        
Compensation and benefits 27.0 73.4 73.8 126.0
General and administrative expense 16.5 18.0 33.4 37.1
Depreciation and amortization 5.3 5.8 10.6 11.3
Amortization of acquired intangibles 0.0 0.0 0.0 0.0
Total operating expenses 48.8 97.2 117.8 174.4
Operating income 46.7 36.1 89.9 68.6
Non-operating income and (expense):        
Investment income (loss) (0.7) 4.7 (0.8) 7.3
Interest income 0.1 0.1 0.1 0.1
Interest expense (4.8) (6.3) (11.3) (12.5)
Loss on extinguishment of debt 0.0 0.0 (3.2) 0.0
Loss on sale of subsidiary 0.0 0.0 0.0 (1.3)
Total non-operating income (loss) (5.4) (1.5) (15.2) (6.4)
Income from continuing operations before taxes 41.3 34.6 74.7 62.2
Income tax expense 12.7 9.9 22.3 19.0
Income from continuing operations 28.6 24.7 52.4 43.2
Income from discontinued operations, net of tax 0.0 53.4 0.0 75.3
Gain on disposal of discontinued operations, net of tax 0.0 509.2 0.0 509.2
Net income 28.6 587.3 52.4 627.7
Net income attributable to non-controlling interests in consolidated Funds 0.0 54.6 0.0 68.0
Net income attributable to controlling interests $ 28.6 $ 532.7 $ 52.4 $ 559.7
Earnings per share (basic) attributable to controlling interests (in dollars per share) $ 0.69 $ 6.71 $ 1.23 $ 7.05
Earnings per share (diluted) attributable to controlling interests (in dollars per share) 0.67 6.42 1.19 6.77
Continuing operations earnings per share (basic) attributable to controlling interests (in dollars per share) 0.69 0.31 1.23 0.54
Continuing operations earnings per share (diluted) attributable to controlling interests (in dollars per share) $ 0.67 $ 0.29 $ 1.19 $ 0.52
Weighted average common stock outstanding (in shares) 41,425,555 79,351,567 42,690,683 79,335,650
Weighted average diluted common stock outstanding (in shares) 42,518,125 82,926,124 43,915,806 82,623,485
Management fees        
Revenue:        
Revenue $ 93.5 $ 111.6 $ 195.7 $ 215.4
Performance fees        
Revenue:        
Revenue $ 2.0 $ 20.4 $ 12.0 $ 25.0