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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Revenues $ 603,896 $ 563,246 $ 552,235
Operating Expenses      
Employment expenses 267,299 240,521 238,501
Distribution and other asset-based expenses 77,010 82,099 92,441
Restructuring and severance 1,155 2,302 87
Depreciation expense 4,660 4,992 4,597
Amortization expense 30,127 30,244 25,142
Total operating expenses 460,732 438,536 439,136
Operating Income (Loss) 143,164 124,710 113,099
Other Income (Expense)      
Other income (expense), net 1,876 2,411 3,289
Total other income (expense), net 7,050 8,253 (23,180)
Interest Income (Expense)      
Total interest income (expense), net 13,684 7,722 19,122
Income (Loss) Before Income Taxes 163,898 140,685 109,041
Income tax expense (benefit) 43,935 35,177 32,961
Net Income (Loss) 119,963 105,508 76,080
Noncontrolling interests (40,006) (9,859) (551)
Net Income (Loss) Attributable to Stockholders 79,957 95,649 75,529
Preferred stockholder dividends 0 (8,337) (8,337)
Net Income (Loss) Attributable to Common Stockholders $ 79,957 $ 87,312 $ 67,192
Earnings (Loss) per Share—Basic (in dollars per share) $ 10.49 $ 12.54 $ 9.37
Earnings (Loss) per Share—Diluted (in dollars per share) $ 10.02 $ 11.74 $ 8.86
Weighted Average Shares Outstanding—Basic (in shares) 7,620 6,963 7,174
Weighted Average Shares Outstanding—Diluted (in shares) 7,976 8,149 8,527
Consolidated entity excluding consolidated investment products      
Operating Expenses      
Other operating expenses $ 69,896 $ 74,363 $ 74,853
Other Income (Expense)      
Realized and unrealized gain (loss) on investments, net 7,139 7,044 (5,217)
Interest Income (Expense)      
Interest expense (11,894) (19,473) (19,445)
Interest and dividend income 1,367 3,844 4,999
CIP      
Operating Expenses      
Other operating expenses 10,585 4,015 3,515
Other Income (Expense)      
Realized and unrealized gain (loss) on investments, net (1,965) (1,202) (21,252)
Interest Income (Expense)      
Interest expense (85,437) (92,005) (64,788)
Interest and dividend income 109,648 115,356 98,356
Total investment management fees      
Revenues      
Revenues 505,338 461,477 437,021
Distribution and service fees      
Revenues      
Revenues 38,425 40,898 50,715
Administration and shareholder service fees      
Revenues      
Revenues 59,463 59,884 63,614
Other income and fees      
Revenues      
Revenues $ 670 $ 987 $ 885