XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed 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
Revenues        
Revenues $ 154,790 $ 145,955 $ 432,250 $ 417,162
Operating Expenses        
Employment expenses 67,479 61,282 193,772 180,256
Distribution and other asset-based expenses 19,570 20,927 56,324 62,013
Other operating expenses 16,343 18,228 52,664 56,125
Restructuring and severance 735 523 1,155 2,019
Depreciation expense 1,106 1,245 3,560 3,729
Amortization expense 7,532 7,587 22,598 22,711
Total operating expenses 113,781 110,168 340,017 330,248
Operating Income (Loss) 41,009 35,787 92,233 86,914
Other Income (Expense)        
Other income (expense), net 999 746 806 1,892
Total other income (expense), net 6,177 (4,596) (9,859) 9,821
Interest Income (Expense)        
Total interest income (expense), net 5,726 5,012 5,622 2,842
Income (Loss) Before Income Taxes 52,912 36,203 87,996 99,577
Income tax expense (benefit) 11,978 10,844 29,847 23,851
Net Income (Loss) 40,934 25,359 58,149 75,726
Noncontrolling interests (11,286) (1,274) (21,507) (2,969)
Net Income (Loss) Attributable to Stockholders 29,648 24,085 36,642 72,757
Preferred stockholder dividends 0 (2,085) 0 (6,253)
Net Income (Loss) Attributable to Common Stockholders $ 29,648 $ 22,000 $ 36,642 $ 66,504
Earnings (Loss) per share—Basic (in $ per share) $ 3.86 $ 3.17 $ 4.81 $ 9.51
Earnings (Loss) per Share—Diluted (in $ per share) $ 3.71 $ 2.95 $ 4.60 $ 8.86
Weighted Average Shares Outstanding—Basic (in shares) 7,684 6,947 7,611 6,990
Weighted Average Shares Outstanding—Diluted (in shares) 7,997 8,157 7,958 8,215
Consolidated Investment Products        
Operating Expenses        
Total operating expenses $ 1,016 $ 376 $ 9,944 $ 3,395
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net 2,680 (5,344) (12,733) 2,455
Interest Income (Expense)        
Interest expense (17,622) (21,252) (70,258) (72,030)
Interest and dividend income 26,088 30,290 83,951 87,060
Consolidated entity excluding consolidated investment products        
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net 2,498 2 2,068 5,474
Interest Income (Expense)        
Interest expense (2,877) (4,889) (9,202) (15,205)
Interest and dividend income 137 863 1,131 3,017
Investment management fees        
Revenues        
Revenues 129,785 120,023 360,623 340,532
Distribution and service fees        
Revenues        
Revenues 9,797 10,442 28,146 31,122
Administration and shareholder service fees        
Revenues        
Revenues 15,114 15,280 43,056 44,747
Other income and fees        
Revenues        
Revenues $ 94 $ 210 $ 425 $ 761