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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues:      
Total revenue $ 2,125,151 $ 1,919,793 $ 1,991,037
Expenses:      
Subadvisory, distribution and other asset management costs 191,706 189,263 196,732
Software royalties and other information processing costs 34,229 32,289 29,006
Compensation, benefits and other personnel 770,881 714,099 720,029
Stock-based compensation 58,626 31,308 39,403
Consulting, outsourcing and professional fees 211,806 231,469 242,013
Data processing and computer related 151,653 137,036 125,171
Facilities, supplies and other costs 79,282 85,836 74,993
Amortization 41,869 38,669 54,280
Depreciation 33,358 35,300 33,657
Total expenses 1,573,410 1,495,269 1,515,284
Income from operations 551,741 424,524 475,753
Net gain (loss) from investments 2,790 2,757 (3,078)
Interest and dividend income 48,897 41,027 13,308
Interest expense (563) (583) (749)
Other income 8,151 0 3,379
Equity in earnings of unconsolidated affiliates 135,741 126,930 120,667
Income before income taxes 746,757 594,655 609,280
Income taxes 165,566 132,397 133,813
Net income $ 581,191 $ 462,258 $ 475,467
Basic earnings per common share (in USD per share) $ 4.47 $ 3.49 $ 3.49
Shares used to compute basic earnings per share (in shares) 130,073 132,593 136,071
Diluted earnings per common share (in USD per share) $ 4.41 $ 3.46 $ 3.46
Shares used to compute diluted earnings per share (in shares) 131,727 133,728 137,423
Dividends declared per common share (in USD per share) $ 0.95 $ 0.89 $ 0.83
Asset management, administration and distribution fees      
Revenues:      
Total revenue $ 1,677,143 $ 1,514,815 $ 1,514,063
Information processing and software servicing fees      
Revenues:      
Total revenue $ 448,008 $ 404,978 $ 476,974