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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenues        
Investment management fees $ 58,192 $ 68,867 $ 115,836 $ 139,363
Distribution and service fees 12,167 17,635 24,645 37,233
Administration and transfer agent fees 9,499 12,577 19,497 25,619
Other income and fees 227 577 402 1,272
Total revenues 80,085 99,656 160,380 203,487
Operating Expenses        
Employment expenses 33,065 33,593 69,042 69,215
Distribution and other asset-based expenses 17,432 23,676 35,533 48,183
Other operating expenses 12,457 23,512 23,222 40,238
Restructuring and severance 2,391 0 2,391 0
Depreciation and other amortization 776 873 1,638 1,652
Amortization expense 603 837 1,254 1,674
Total operating expenses 71,342 83,448 138,887 162,737
Operating Income 8,743 16,208 21,493 40,750
Other Income (Expense)        
Realized and unrealized gain on investments, net 3,281 343 2,623 888
Other (expense) income, net (15) 247 213 682
Total other income (expense), net 6,944 (2,652) 9,044 918
Interest Income (Expense)        
Interest and dividend income 619 302 892 582
Total interest (expense) income, net (900) 3,279 3,676 5,760
Income Before Income Taxes 14,787 16,835 34,213 47,428
Income tax expense 6,087 7,823 13,643 18,691
Net Income 8,700 9,012 20,570 28,737
Noncontrolling interests (612) 765 (119) 382
Net Income Attributable to Common Stockholders $ 8,088 $ 9,777 $ 20,451 $ 29,119
Earnings per share—Basic (in $ per share) $ 0.99 $ 1.10 $ 2.48 $ 3.26
Earnings per Share—Diluted (in $ per share) 0.97 1.08 2.43 3.20
Cash Dividends Declared per Share (in $ per share) $ 0.45 $ 0.45 $ 0.90 $ 0.9
Weighted Average Shares Outstanding—Basic (in shares) 8,170 8,889 8,257 8,927
Weighted Average Shares Outstanding—Diluted (in shares) 8,314 9,037 8,410 9,094
Parent [Member]        
Interest Income (Expense)        
Interest expense $ (129) $ (121) $ (261) $ (244)
Consolidated Sponsored Investment Products [Member]        
Operating Expenses        
Other operating expenses 777 957 1,910 1,775
Other Income (Expense)        
Realized and unrealized gain on investments, net 3,097 (3,242) 3,392 (652)
Interest Income (Expense)        
Interest and dividend income 1,696 3,098 4,657 5,422
Consolidated Investment Product [Member]        
Operating Expenses        
Other operating expenses 3,841 0 3,897 0
Other Income (Expense)        
Realized and unrealized gain on investments, net 581 0 2,816 0
Interest Income (Expense)        
Interest expense (5,668) 0 (6,400) 0
Interest and dividend income $ 2,582 $ 0 $ 4,788 $ 0