Equity Transactions	12 Months Ended
Dec. 31, 2018
Equity [Abstract]
Equity Transactions	Equity Transactions Stock Repurchases As of December 31, 2018, 4.2 million shares of the Company's common stock have been authorized to be repurchased under the Board of Directors approved share repurchase program and 624,803 shares remain available for repurchase. Under the terms of the program, the Company may repurchase shares of its common stock from time to time at its discretion through open market repurchases, privately negotiated transactions and/or other mechanisms, depending on price and prevailing market and business conditions. The program, which has no specified term, may be suspended or terminated at any time. During the year ended December 31, 2018, the Company repurchased a total of 258,953 common shares for approximately $27.5 million. As of December 31, 2018, the Company had repurchased a total of 3,555,242 shares of common stock at a weighted average price of $106.65 per share plus transaction costs for a total cost of $379.2 million. Equity Issuances During the year ended December 31, 2017, the Company issued 1,260,169 shares of common stock consisting of: (1) 1,046,500 shares of common stock in a public offering, which included the exercise of the underwriters' over-allotment option, for net proceeds of $109.5 million, after underwriting discounts, commissions and other offering expenses; and (2) 213,669 shares of the Company's common stock as part of the consideration for the RW Acquisition. During the year ended December 31, 2017, the Company issued 1,150,000 shares of 7.25% mandatory convertible preferred stock ("MCPS") in a public offering which included the exercised over-allotment option for net proceeds of $111.0 million, after underwriting discounts, commissions and other offering expenses. The MCPS was issued with a liquidation preference of $100.00 per share. Unless converted earlier, each share of MCPS will convert automatically on February 1, 2020 (the "mandatory conversion date") into between 0.7583 and 0.9100 shares of common stock (a conversion price range between $131.88 to $109.90 per share, respectively), subject to customary anti-dilution adjustments. The number of shares of common stock issuable upon conversion will be determined based on the volume-weighted average price per share of the Company's common stock over the 20 consecutive trading day period beginning on, and including, the 22nd scheduled trading day immediately preceding the mandatory conversion date. Each share of MCPS can be converted prior to the mandatory conversion date at the option of the holder at the minimum conversion rate of 0.7583 or at a specified rate, in the event of a fundamental change as defined in the certificate of designations of the MCPS. Dividends on the MCPS will be payable on a cumulative basis when, as and if declared by the Board of Directors, at an annual rate of 7.25 percent on the liquidation preference of $100.00 per share. If declared, these dividends will be paid in cash, or, subject to certain limitations, in shares of Virtus' common stock (or a combination) on February 1, May 1, August 1, and November 1 of each year, commencing May 1, 2017, and continuing to, and including, February 1, 2020. Dividends During the first and second quarters of the year ended December 31, 2018, the Board of Directors declared quarterly cash dividends on the Company's common stock of $0.45 each. During the third and fourth quarters of the year ended December 31, 2018, the Board of Directors declared quarterly cash dividends on the Company's common stock of $0.55 each. Total dividends declared on the Company's common stock were $15.3 million for the year ended December 31, 2018. During each quarter of the year ended December 31, 2018, the Board of Directors declared quarterly cash dividends on the Company's preferred stock of $1.8125 each. Total dividends declared on the Company's preferred stock were $8.3 million for the year ended December 31, 2018. At December 31, 2018, $7.8 million was included as dividends payable in liabilities in the Consolidated Balance Sheet. This balance represents the fourth quarter dividends of $2.1 million to be paid on February 15, 2019 for the Company's preferred stock shareholders of record as of January 31, 2019 and $5.7 million to be paid on February 15, 2019 for the Company's common stock shareholders of record as of January 31, 2019.

Equity Transactions

Stock Repurchases

As of December 31, 2018, 4.2 million shares of the Company's common stock have been authorized to be repurchased under the Board of Directors approved share repurchase program and 624,803 shares remain available for repurchase. Under the terms of the program, the Company may repurchase shares of its common stock from time to time at its discretion through open market repurchases, privately negotiated transactions and/or other mechanisms, depending on price and prevailing market and business conditions. The program, which has no specified term, may be suspended or terminated at any time.

During the year ended December 31, 2018, the Company repurchased a total of 258,953 common shares for approximately $27.5 million. As of December 31, 2018, the Company had repurchased a total of 3,555,242 shares of common stock at a weighted average price of $106.65 per share plus transaction costs for a total cost of $379.2 million.

Equity Issuances

During the year ended December 31, 2017, the Company issued 1,260,169 shares of common stock consisting of: (1) 1,046,500 shares of common stock in a public offering, which included the exercise of the underwriters' over-allotment option, for net proceeds of $109.5 million, after underwriting discounts, commissions and other offering expenses; and (2) 213,669 shares of the Company's common stock as part of the consideration for the RW Acquisition.

During the year ended December 31, 2017, the Company issued 1,150,000 shares of 7.25% mandatory convertible preferred stock ("MCPS") in a public offering which included the exercised over-allotment option for net proceeds of $111.0 million, after underwriting discounts, commissions and other offering expenses. The MCPS was issued with a liquidation preference of $100.00 per share. Unless converted earlier, each share of MCPS will convert automatically on February 1, 2020 (the "mandatory conversion date") into between 0.7583 and 0.9100 shares of common stock (a conversion price range between $131.88 to $109.90 per share, respectively), subject to customary anti-dilution adjustments. The number of shares of common stock issuable upon conversion will be determined based on the volume-weighted average price per share of the Company's common stock over the 20 consecutive trading day period beginning on, and including, the 22nd scheduled trading day immediately preceding the mandatory conversion date. Each share of MCPS can be converted prior to the mandatory conversion date at the option of the holder at the minimum conversion rate of 0.7583 or at a specified rate, in the event of a fundamental change as defined in the certificate of designations of the MCPS.

Dividends on the MCPS will be payable on a cumulative basis when, as and if declared by the Board of Directors, at an annual rate of 7.25 percent on the liquidation preference of $100.00 per share. If declared, these dividends will be paid in cash, or, subject to certain limitations, in shares of Virtus' common stock (or a combination) on February 1, May 1, August 1, and November 1 of each year, commencing May 1, 2017, and continuing to, and including, February 1, 2020.

Dividends

During the first and second quarters of the year ended December 31, 2018, the Board of Directors declared quarterly cash dividends on the Company's common stock of $0.45 each. During the third and fourth quarters of the year ended December 31, 2018, the Board of Directors declared quarterly cash dividends on the Company's common stock of $0.55 each. Total dividends declared on the Company's common stock were $15.3 million for the year ended December 31, 2018.

During each quarter of the year ended December 31, 2018, the Board of Directors declared quarterly cash dividends on the Company's preferred stock of $1.8125 each. Total dividends declared on the Company's preferred stock were $8.3 million for the year ended December 31, 2018.

At December 31, 2018, $7.8 million was included as dividends payable in liabilities in the Consolidated Balance Sheet. This balance represents the fourth quarter dividends of $2.1 million to be paid on February 15, 2019 for the Company's preferred stock shareholders of record as of January 31, 2019 and $5.7 million to be paid on February 15, 2019 for the Company's common stock shareholders of record as of January 31, 2019.