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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Operating Revenues:        
Total revenues $ 64,640 $ 67,718 $ 186,640 $ 199,496
Operating Expenses:        
Compensation and benefits 19,098 18,880 53,848 61,481
Fund management and administration 15,219 15,110 44,165 45,852
Marketing and advertising 2,996 3,022 7,413 8,612
Sales and business development 2,386 4,354 7,984 12,947
Contractual gold payments (Note 11) 4,539 3,502 12,362 9,710
Professional and consulting fees 950 1,259 3,580 4,037
Occupancy, communications and equipment 1,611 1,549 4,805 4,715
Depreciation and amortization 253 259 760 792
Third-party distribution fees 1,233 1,503 3,928 5,822
Acquisition and disposition-related costs   190 416 536
Other 1,611 1,959 5,204 6,267
Total operating expenses 49,896 51,587 144,465 160,771
Operating income 14,744 16,131 42,175 38,725
Other Income/(Expenses):        
Interest expense (2,511) (2,832) (6,974) (8,634)
Loss on revaluation of deferred consideration – gold payments (Note 11) (8,870) (6,306) (34,436) (5,939)
Interest income 111 799 393 2,396
Impairments (Note 26) (3,080)   (22,752) (572)
Loss on extinguishment of debt (Note12)     (2,387)  
Other gains and losses, net 744 843 56 (3,500)
Income/(loss) before income taxes 1,138 8,635 (23,925) 22,476
Income tax expense/(benefit) 1,408 4,483 (1,767) 7,021
Net (loss)/income $ (270) $ 4,152 $ (22,158) $ 15,455
(Loss)/earnings per share—basic $ (0.01) $ 0.02 $ (0.16) $ 0.09
(Loss)/earnings per share—diluted $ (0.01) $ 0.02 $ (0.16) $ 0.09
Weighted-average common shares—basic 145,564 151,897 149,886 151,782
Weighted-average common shares—diluted 145,564 [1] 167,163 149,886 [1] 166,944
Cash dividends declared per common share $ 0.03 $ 0.03 $ 0.09 $ 0.09
Advisory Fees [Member]        
Operating Revenues:        
Total revenues $ 63,919 $ 67,006 $ 184,077 $ 197,473
Other Income [Member]        
Operating Revenues:        
Total revenues $ 721 $ 712 $ 2,563 $ 2,023
[1] Excludes 15,307,153 and 14,997,269 participating securities and 4,669 and 5,437 potentially dilutive non-participating common stock equivalents for the three and nine months ended September 30, 2020 as the Company reported a net loss for the period.