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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Revenues        
Investment management fees $ 64,891 $ 78,960 $ 204,254 $ 225,289
Distribution and service fees 15,587 23,671 52,820 70,049
Administration and transfer agent fees 11,614 14,804 37,233 41,819
Other income and fees 283 406 1,555 1,304
Total revenues 92,375 117,841 295,862 338,461
Operating Expenses        
Employment expenses 33,504 35,246 102,719 105,756
Distribution and other asset-based expenses 21,717 29,180 69,900 96,139
Other operating expenses 11,165 11,288 51,403 34,952
Restructuring and severance 0 294 0 294
Depreciation and other amortization 910 713 2,562 2,040
Amortization expense 837 947 2,511 2,851
Total operating expenses 69,253 78,914 231,990 244,406
Operating Income 23,122 38,927 63,872 94,055
Other Income (Expense)        
Realized and unrealized (loss) gain on investments, net (2,082) (1,039) (1,194) 1,712
Other income, net 141 233 823 573
Total other (expense) income, net (20,281) (6,136) (19,363) 3,435
Interest Income (Expense)        
Interest expense (138) (149) (382) (412)
Interest and dividend income 324 326 906 1,053
Total interest income, net 3,125 2,399 8,885 5,375
Income Before Income Taxes 5,966 35,190 53,394 102,865
Income tax expense (benefit) 9,669 (1,805) 28,360 24,311
Net (Loss) Income (3,703) 36,995 25,034 78,554
Noncontrolling interests 3,054 345 3,436 267
Net (Loss) Income Attributable to Common Stockholders $ (649) $ 37,340 $ 28,470 $ 78,821
(Loss) Earnings per share—Basic (in $ per share) $ (0.07) $ 4.10 $ 3.21 $ 8.65
(Loss) Earnings per Share—Diluted (in $ per share) (0.07) 4.02 3.15 8.46
Cash Dividends Declared per Share (in $ per share) $ 0.45 $ 0.45 $ 1.35 $ 0.90
Weighted Average Shares Outstanding—Basic (in shares) 8,775 9,096 8,876 9,115
Weighted Average Shares Outstanding—Diluted (in shares) 8,775 9,279 9,039 9,322
Consolidated Sponsored Investment Products [Member]        
Operating Expenses        
Other operating expenses $ 1,120 $ 1,246 $ 2,895 $ 2,374
Other Income (Expense)        
Realized and unrealized (loss) gain on investments, net (17,619) (5,330) (18,271) 1,150
Interest Income (Expense)        
Interest and dividend income 2,898 2,222 8,320 4,734
Consolidated Investment Product [Member]        
Other Income (Expense)        
Realized and unrealized (loss) gain on investments, net (764) 0 (764) 0
Other income, net 43 0 43 0
Interest Income (Expense)        
Interest and dividend income $ 41 $ 0 $ 41 $ 0