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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenues:        
Revenues $ 424,927 $ 416,254 $ 1,240,335 $ 1,226,660
Expenses:        
Subadvisory, distribution and other asset management costs 45,126 44,978 134,645 134,960
Software royalties and other information processing costs 6,992 7,198 21,828 22,719
Compensation, benefits and other personnel 134,795 130,579 391,607 386,913
Stock-based compensation 6,467 5,453 20,458 15,555
Consulting, outsourcing and professional fees 57,949 48,789 168,350 144,325
Data processing and computer related 24,437 22,338 71,647 65,514
Facilities, supplies and other costs 16,679 15,926 47,448 51,771
Amortization 13,200 12,947 39,417 38,407
Depreciation 7,945 7,409 23,058 22,162
Total expenses 313,590 295,617 918,458 882,326
Income from operations 111,337 120,637 321,877 344,334
Net gain (loss) from investments 776 611 (1,310) 2,121
Interest and dividend income 1,009 4,167 5,582 12,737
Interest expense (153) (154) (456) (477)
Equity in earnings of unconsolidated affiliate 28,305 37,609 86,488 112,758
Income before income taxes 141,274 162,870 412,181 471,473
Income taxes 30,178 30,702 90,777 98,784
Net income $ 111,096 $ 132,168 $ 321,404 $ 372,689
Basic earnings per common share (in USD per share) $ 0.76 $ 0.88 $ 2.18 $ 2.45
Shares used to compute basic earnings per share (in shares) 145,812 150,855 147,586 152,009
Diluted earnings per common share (in USD per share) $ 0.75 $ 0.86 $ 2.14 $ 2.40
Shares used to compute diluted earnings per share (in shares) 147,907 154,227 149,958 155,311
Dividends declared per common share (in USD per share) $ 0 $ 0 $ 0.35 $ 0.33
Asset management, administration and distribution fees        
Revenues:        
Revenues $ 339,609 $ 330,943 $ 992,039 $ 969,812
Information processing and software servicing fees        
Revenues:        
Revenues $ 85,318 $ 85,311 $ 248,296 $ 256,848