XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Revenues $ 225,307 $ 244,011 $ 477,747 $ 460,908
Operating Expenses        
Employment expenses 89,360 87,630 195,353 179,389
Distribution and other asset-based expenses 28,583 36,021 61,429 68,315
Change in fair value of contingent consideration 2,900 0 2,900 0
Depreciation expense 962 981 1,897 2,079
Amortization expense 14,624 10,363 29,286 19,828
Total operating expenses 168,637 157,600 355,525 312,355
Operating Income (Loss) 56,670 86,411 122,222 148,553
Other Income (Expense)        
Other income (expense), net 571 826 858 2,597
Total other income (expense), net (31,631) 6,067 (47,670) 4,042
Interest Income (Expense)        
Total interest income (expense), net 5,700 6,020 12,041 13,270
Income (Loss) Before Income Taxes 30,739 98,498 86,593 165,865
Income tax expense (benefit) 16,480 22,401 33,215 37,554
Net Income (Loss) 14,259 76,097 53,378 128,311
Noncontrolling interests 3,143 (13,130) (2,917) (28,756)
Net Income (Loss) Attributable to Virtus Investment Partners, Inc. $ 17,402 $ 62,967 $ 50,461 $ 99,555
Earnings (Loss) Per share—Basic (in dollars per share) $ 2.34 $ 8.18 $ 6.73 $ 12.97
Earnings (Loss) Per Share—Diluted (in dollars per share) $ 2.29 $ 7.86 $ 6.54 $ 12.39
Weighted Average Shares Outstanding—Basic (in shares) 7,449 7,698 7,496 7,674
Weighted Average Shares Outstanding—Diluted (in shares) 7,607 8,007 7,721 8,038
Consolidated entity excluding consolidated investment products        
Operating Expenses        
Other operating expenses $ 31,559 $ 21,946 $ 63,271 $ 41,526
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net (10,543) 2,494 (13,525) 3,385
Interest Income (Expense)        
Interest expense (2,825) (2,256) (5,104) (4,570)
Interest and dividend income 529 166 857 302
Consolidated Investment Products        
Operating Expenses        
Other operating expenses 649 659 1,389 1,218
Other Income (Expense)        
Realized and unrealized gain (loss) on investments, net (21,659) 2,747 (35,003) (1,940)
Interest Income (Expense)        
Interest expense (14,416) (14,452) (26,504) (28,900)
Interest and dividend income 22,412 22,562 42,792 46,438
Investment management fees        
Revenues        
Revenues 185,024 193,510 391,841 366,779
Distribution and service fees        
Revenues        
Revenues 17,159 23,450 37,166 43,798
Administration and shareholder service fees        
Revenues        
Revenues 21,982 25,877 46,326 48,437
Other income and fees        
Revenues        
Revenues $ 1,142 $ 1,174 $ 2,414 $ 1,894