Consolidation of Sponsored Investment Products (Tables)

3 Months Ended

Mar. 31, 2013

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Consolidated Statement of Balance Sheet

The following tables reflect the impact of the consolidated sponsored investment products in the Condensed Consolidated Balance Sheets as of March 31, 2013 and December 31, 2012 respectively:

As of March 31, 2013
	Balance Before Consolidation of Investment Products			Consolidated Investment Products		Eliminations and Adjustments (a)			Balances as Reported in Condensed Consolidated Balance Sheet
($ in thousands)
Current assets	$	151,452		$	37,872	$	(35,113	)	$	154,211
Non-current assets		160,521			—		—			160,521
Total assets	$	311,973		$	37,872	$	(35,113	)	$	314,732
Current liabilities	$	44,302		$	622	$	(5	)	$	44,919
Non-current liabilities		22,544			—		—			22,544
Total liabilities		66,846			622		(5	)		67,463
Redeemable noncontrolling interest		—			—		2,142			2,142
Equity attributable to stockholders of the Company		245,148			37,250		(37,250	)		245,148
Non-redeemable noncontrolling interest		(21	)		—		—			(21	)
Total liabilities and equity	$	311,973		$	37,872	$	(35,113	)	$	314,732

As of December 31, 2012
	Balance Before Consolidation of Investment Products			Consolidated Investment Products		Eliminations and Adjustments (a)			Balances as Reported in Consolidated Balance  Sheet
($ in thousands)
Current assets	$	161,286		$	43,924	$	(40,384	)	$	164,826
Non-current assets		167,923			—		—			167,923
Total assets	$	329,209		$	43,924	$	(40,384	)	$	332,749
Current liabilities	$	62,034		$	364	$	13		$	62,411
Other non-current liabilities		22,704			—		—			22,704
Total liabilities		84,738			364		13			85,115
Redeemable noncontrolling interest		—			—		3,163			3,163
Equity attributable to stockholders of the Company		244,474			43,560		(43,560	)		244,474
Non-redeemable noncontrolling interest		(3	)		—		—			(3	)
Total liabilities and equity	$	329,209		$	43,924	$	(40,384	)	$	332,749

(a) Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and equity and recording of any noncontrolling interest.

Consolidated Statement of Operation

The following table reflects the impact of the consolidated sponsored investment products in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2013:

For the Three Months Ended March 31, 2013
	Balance Before Consolidation of Investment Products		Consolidated Investment Products			Eliminations and Adjustments (a)			Balances as Reported in Condensed Consolidated Statement of Operations
($ in thousands)
Total operating revenues	$	86,120	$	—		$	48		$	86,168
Total operating expenses		64,884		136			48			65,068
Operating income (loss)		21,236		(136	)		—			21,100
Total other non-operating income (expense)		1,156		851			(472	)		1,535
Income (loss) before income tax expense		22,392		715			(472	)		22,635
Income tax expense		8,450		—			—			8,450
Net income (loss)		13,942		715			(472	)		14,185
Less: Net income (loss) attributable to noncontrolling interest		18		—			(243	)		(225	)
Net income (loss) attributable to the Company	$	13,960	$	715		$	(715	)	$	13,960

(a) Adjustments include the elimination of intercompany transactions between the Company and its consolidated sponsored investment products, primarily the elimination of the investments and equity and recording of any noncontrolling interest.