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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue:    
Total revenue $ 91.8 $ 112.2
Operating expenses:    
Compensation and benefits 49.1 46.8
General and administrative expense 18.4 16.9
Depreciation and amortization 3.8 5.3
Total operating expenses 72.0 69.0
Operating income 19.8 43.2
Non-operating income and (expense):    
Investment income (loss) 0.3 (0.1)
Interest income 1.1 0.0
Interest expense (4.9) (6.5)
Loss on extinguishment of debt 0.0 (3.2)
Total non-operating income (loss) (2.7) (9.8)
Income before income taxes 17.1 33.4
Income tax expense 5.1 9.6
Net income 12.0 23.8
Net income attributable to non-controlling interests in consolidated Funds 0.0 0.0
Net income attributable to controlling interests $ 12.0 $ 23.8
Earnings per share (basic) attributable to controlling interests (in dollars per share) $ 0.29 $ 0.54
Earnings per share (diluted) attributable to controlling interests (in dollars per share) $ 0.28 $ 0.53
Weighted average common stock outstanding (in shares) 41,444,200 43,969,713
Weighted average diluted common stock outstanding (in shares) 42,710,577 45,327,390
Consolidated Funds    
Revenue:    
Total revenue $ 0.7 $ 0.0
Operating expenses:    
Total operating expenses 0.7 0.0
Non-operating income and (expense):    
Net consolidated Funds’ investment gains 0.8 0.0
Management fees    
Revenue:    
Revenue: 90.6 102.2
Performance fees    
Revenue:    
Revenue: $ 0.5 $ 10.0