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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Revenues $ 485,322 $ 424,927 $ 1,416,659 $ 1,240,335
Expenses:        
Subadvisory, distribution and other asset management costs 55,619 45,126 161,610 134,645
Software royalties and other information processing costs 7,348 6,992 20,561 21,828
Compensation, benefits and other personnel 150,188 134,795 429,188 391,607
Stock-based compensation 11,318 6,467 31,173 20,458
Consulting, outsourcing and professional fees 55,868 57,949 165,657 168,350
Data processing and computer related 26,650 24,437 79,746 71,647
Facilities, supplies and other costs 14,124 16,679 49,851 47,448
Amortization 14,674 13,200 43,749 39,417
Depreciation 8,408 7,945 25,141 23,058
Total expenses 344,197 313,590 1,006,676 918,458
Income from operations 141,125 111,337 409,983 321,877
Net (loss) gain from investments (575) 776 134 (1,310)
Interest and dividend income 892 1,009 2,715 5,582
Interest expense (101) (153) (354) (456)
Equity in earnings of unconsolidated affiliate 35,005 28,305 103,420 86,488
Income before income taxes 176,346 141,274 515,898 412,181
Income taxes 38,301 30,178 114,605 90,777
Net income $ 138,045 $ 111,096 $ 401,293 $ 321,404
Basic earnings per common share (in USD per share) $ 0.98 $ 0.76 $ 2.83 $ 2.18
Shares used to compute basic earnings per share (in shares) 140,507 145,812 141,928 147,586
Diluted earnings per common share (in USD per share) $ 0.97 $ 0.75 $ 2.79 $ 2.14
Shares used to compute diluted earnings per share (in shares) 142,426 147,907 143,981 149,958
Dividends declared per common share (in USD per share) $ 0 $ 0 $ 0.37 $ 0.35
Asset management, administration and distribution fees        
Revenues:        
Revenues $ 393,296 $ 339,609 $ 1,143,451 $ 992,039
Information processing and software servicing fees        
Revenues:        
Revenues $ 92,026 $ 85,318 $ 273,208 $ 248,296