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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues:        
Revenues $ 475,651 $ 400,646 $ 931,337 $ 815,408
Expenses:        
Subadvisory, distribution and other asset management costs 55,827 44,182 105,991 89,519
Software royalties and other information processing costs 7,471 7,389 13,213 14,836
Compensation, benefits and other personnel 141,779 125,331 279,000 256,812
Stock-based compensation 10,103 7,062 19,855 13,991
Consulting, outsourcing and professional fees 55,449 57,111 109,789 110,401
Data processing and computer related 27,375 24,506 53,096 47,210
Facilities, supplies and other costs 18,479 13,973 35,727 30,769
Amortization 14,723 13,140 29,075 26,217
Depreciation 8,424 7,640 16,733 15,113
Total expenses 339,630 300,334 662,479 604,868
Income from operations 136,021 100,312 268,858 210,540
Net gain (loss) from investments 377 1,903 709 (2,086)
Interest and dividend income 878 1,370 1,823 4,573
Interest expense (130) (151) (253) (303)
Equity in earnings of unconsolidated affiliate 35,065 28,276 68,415 58,183
Income before income taxes 172,211 131,710 339,552 270,907
Income taxes 38,433 30,644 76,304 60,599
Net income $ 133,778 $ 101,066 $ 263,248 $ 210,308
Basic earnings per common share (in USD per share) $ 0.94 $ 0.69 $ 1.85 $ 1.42
Shares used to compute basic earnings per share (in shares) 142,074 147,478 142,638 148,473
Diluted earnings per common share (in USD per share) $ 0.93 $ 0.68 $ 1.82 $ 1.39
Shares used to compute diluted earnings per share (in shares) 144,212 149,598 144,759 150,983
Dividends declared per common share (in USD per share) $ 0.37 $ 0.35 $ 0.37 $ 0.35
Asset management, administration and distribution fees        
Revenues:        
Revenues $ 382,509 $ 320,577 $ 750,155 $ 652,430
Information processing and software servicing fees        
Revenues:        
Revenues $ 93,142 $ 80,069 $ 181,182 $ 162,978