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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Revenues $ 400,646 $ 409,586 $ 815,408 $ 810,406
Expenses:        
Subadvisory, distribution and other asset management costs 44,182 46,177 89,519 89,982
Software royalties and other information processing costs 7,389 7,393 14,836 15,521
Compensation, benefits and other personnel 125,331 125,999 256,812 256,334
Stock-based compensation 7,062 5,064 13,991 10,102
Consulting, outsourcing and professional fees 57,111 45,330 110,401 95,536
Data processing and computer related 24,506 22,184 47,210 43,176
Facilities, supplies and other costs 13,973 17,100 30,769 35,845
Amortization 13,140 12,781 26,217 25,460
Depreciation 7,640 7,422 15,113 14,753
Total expenses 300,334 289,450 604,868 586,709
Income from operations 100,312 120,136 210,540 223,697
Net gain (loss) from investments 1,903 231 (2,086) 1,510
Interest and dividend income 1,370 4,313 4,573 8,570
Interest expense (151) (166) (303) (323)
Equity in earnings of unconsolidated affiliate 28,276 37,832 58,183 75,149
Income before income taxes 131,710 162,346 270,907 308,603
Income taxes 30,644 35,806 60,599 68,082
Net income $ 101,066 $ 126,540 $ 210,308 $ 240,521
Basic earnings per common share (in USD per share) $ 0.69 $ 0.83 $ 1.42 $ 1.58
Shares used to compute basic earnings per share (in shares) 147,478 151,863 148,473 152,587
Diluted earnings per common share (in USD per share) $ 0.68 $ 0.82 $ 1.39 $ 1.54
Shares used to compute diluted earnings per share (in shares) 149,598 155,165 150,983 155,853
Dividends declared per common share (in USD per share) $ 0.35 $ 0.33 $ 0.35 $ 0.33
Asset management, administration and distribution fees        
Revenues:        
Revenues $ 320,577 $ 324,925 $ 652,430 $ 638,869
Information processing and software servicing fees        
Revenues:        
Revenues $ 80,069 $ 84,661 $ 162,978 $ 171,537