XML 48 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues:        
Asset management, administration and distribution fees $ 252,585 $ 244,704 $ 756,101 $ 705,966
Information processing and software servicing fees 74,413 70,020 218,765 215,026
Transaction-based and trade execution fees 8,624 7,323 23,945 22,256
Total revenues 335,622 322,047 998,811 943,248
Expenses:        
Subadvisory, distribution and other asset management costs 40,230 39,737 119,619 110,993
Software royalties and other information processing costs 8,028 8,562 23,594 25,532
Brokerage commissions 6,460 5,119 17,863 16,217
Compensation, benefits and other personnel 99,461 94,316 292,646 281,210
Stock-based compensation 3,867 3,786 11,476 9,481
Consulting, outsourcing and professional fees 35,963 34,946 108,560 103,283
Data processing and computer related 15,173 13,555 43,100 39,553
Facilities, supplies and other costs 22,477 16,136 56,195 49,354
Amortization 10,837 9,813 31,806 28,611
Depreciation 6,108 5,579 17,946 16,494
Total expenses 248,604 231,549 722,805 680,728
Income from operations 87,018 90,498 276,006 262,520
Net (loss) gain from investments (756) (478) (544) 49
Interest and dividend income 846 750 2,570 2,248
Interest expense (115) (115) (342) (342)
Equity in earnings of unconsolidated affiliates 33,595 37,963 104,917 104,080
Gain on sale of subsidiary 0 0 2,791 5,582
Income before income taxes 120,588 128,618 385,398 374,137
Income taxes 41,163 44,635 135,122 132,521
Net income $ 79,425 $ 83,983 $ 250,276 $ 241,616
Basic earnings per common share $ 0.48 $ 0.50 $ 1.51 $ 1.43
Shares used to compute basic earnings per share 165,579 167,925 166,142 168,612
Diluted earnings per common share $ 0.47 $ 0.49 $ 1.47 $ 1.39
Shares used to compute diluted earnings per share 169,255 172,905 169,977 173,700
Dividends declared per common share $ 0.00 $ 0.00 $ 0.24 $ 0.22