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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Revenues $ 252,064 $ 154,790 $ 712,972 $ 432,250
Operating Expenses        
Employment expenses 87,345 67,479 266,734 193,772
Distribution and other asset-based expenses 36,692 19,570 105,007 56,324
Restructuring and severance 0 735 0 1,155
Depreciation expense 915 1,106 2,994 3,560
Amortization expense 10,391 7,532 30,219 22,598
Total operating expenses 158,782 113,781 471,137 340,017
Operating Income (Loss) 93,282 41,009 241,835 92,233
Other Income (Expense)        
Other income (expense), net 1,001 999 3,598 806
Total other income (expense), net (2,304) 6,177 1,738 (9,859)
Interest Income (Expense)        
Total interest income (expense), net 7,356 5,726 20,626 5,622
Income (Loss) Before Income Taxes 98,334 52,912 264,199 87,996
Income tax expense (benefit) 25,823 11,978 63,377 29,847
Net Income (Loss) 72,511 40,934 200,822 58,149
Noncontrolling interests (13,775) (11,286) (42,531) (21,507)
Net Income (Loss) Attributable to Virtus Investment Partners, Inc. $ 58,736 $ 29,648 $ 158,291 $ 36,642
Earnings (Loss) Per share—Basic (in $ per share) $ 7.64 $ 3.86 $ 20.59 $ 4.81
Earnings (Loss) Per Share—Diluted (in $ per share) $ 7.36 $ 3.71 $ 19.72 $ 4.60
Weighted Average Shares Outstanding—Basic (in shares) 7,691 7,684 7,688 7,611
Weighted Average Shares Outstanding—Diluted (in shares) 7,984 7,997 8,028 7,958
Consolidated entity excluding consolidated investment products        
Operating Expenses        
Other operating expenses $ 22,800 $ 16,343 $ 64,326 $ 52,664
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net (504) 2,498 2,881 2,068
Interest Income (Expense)        
Interest expense (2,348) (2,877) (6,918) (9,202)
Interest and dividend income 269 137 571 1,131
Consolidated Investment Products        
Operating Expenses        
Other operating expenses 639 1,016 1,857 9,944
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net (2,801) 2,680 (4,741) (12,733)
Interest Income (Expense)        
Interest expense (13,442) (17,622) (42,342) (70,258)
Interest and dividend income 22,877 26,088 69,315 83,951
Investment management fees        
Revenues        
Revenues 201,133 129,785 567,912 360,623
Distribution and service fees        
Revenues        
Revenues 23,293 9,797 67,091 28,146
Administration and shareholder service fees        
Revenues        
Revenues 26,479 15,114 74,916 43,056
Other income and fees        
Revenues        
Revenues $ 1,159 $ 94 $ 3,053 $ 425