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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenues:        
Asset management, administration and distribution fees $ 299,890 $ 271,930 $ 866,945 $ 785,642
Information processing and software servicing fees 80,922 76,443 233,501 224,834
Transaction-based and trade execution fees 5,206 6,268 17,887 22,259
Total revenues 386,018 354,641 1,118,333 1,032,735
Expenses:        
Subadvisory, distribution and other asset management costs 45,578 42,586 131,368 122,651
Software royalties and other information processing costs 7,463 7,519 22,837 22,944
Brokerage commissions 3,978 4,864 13,163 17,065
Compensation, benefits and other personnel 118,421 103,137 336,919 307,350
Stock-based compensation 7,088 4,066 19,527 12,044
Consulting, outsourcing and professional fees 46,507 43,631 137,991 121,712
Data processing and computer related 18,449 16,581 53,104 48,081
Facilities, supplies and other costs 18,604 17,075 54,764 50,194
Amortization 13,745 11,388 38,332 33,684
Depreciation 6,948 6,576 20,347 19,457
Total expenses 286,781 257,423 828,352 755,182
Income from operations 99,237 97,218 289,981 277,553
Net gain from investments 645 196 1,036 320
Interest and dividend income 1,899 1,026 4,928 3,142
Interest expense (345) (115) (571) (416)
Equity in earnings of unconsolidated affiliate 39,333 32,565 109,213 92,042
Gain on sale of subsidiary 0 0 0 2,791
Income before income taxes 140,769 130,890 404,587 375,432
Income taxes 39,030 44,186 122,342 130,226
Net income $ 101,739 $ 86,704 $ 282,245 $ 245,206
Basic earnings per common share $ 0.64 $ 0.54 $ 1.78 $ 1.51
Shares used to compute basic earnings per share 157,902 160,916 158,439 161,908
Diluted earnings per common share $ 0.63 $ 0.53 $ 1.74 $ 1.49
Shares used to compute diluted earnings per share 161,148 163,925 161,866 165,053
Dividends declared per common share $ 0 $ 0 $ 0.28 $ 0.26