XML 17 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Consolidated Statements of Operations (unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Revenues $ 537,396 $ 476,759 $ 1,567,961 $ 1,434,935
Expenses:        
Subadvisory, distribution and other asset management costs 47,969 47,531 141,279 142,157
Software royalties and other information processing costs 8,936 8,095 25,503 23,784
Compensation, benefits and other personnel 191,740 180,470 570,534 529,591
Stock-based compensation 13,696 7,979 37,224 23,458
Consulting, outsourcing and professional fees 53,291 54,203 159,258 176,619
Data processing and computer related 37,556 34,016 112,790 102,301
Facilities, supplies and other costs 21,622 16,999 58,795 58,825
Amortization 10,413 9,797 31,284 28,851
Depreciation 8,341 9,197 25,097 26,509
Total expenses 393,564 368,287 1,161,764 1,112,095
Income from operations 143,832 108,472 406,197 322,840
Net gain (loss) from investments 427 (206) 3,349 1,053
Interest and dividend income 13,579 11,125 35,950 29,453
Interest expense (141) (116) (419) (396)
Other income 8,151 0 8,151 0
Equity in earnings of unconsolidated affiliate 36,513 29,927 102,375 91,517
Income before income taxes 202,361 149,202 555,603 444,467
Income taxes 47,461 33,541 130,183 102,940
Net income $ 154,900 $ 115,661 $ 425,420 $ 341,527
Basic earnings per common share (in USD per share) $ 1.20 $ 0.87 $ 3.26 $ 2.57
Shares used to compute basic earnings per share (in shares) 129,418 132,231 130,550 133,035
Diluted earnings per common share (in USD per share) $ 1.19 $ 0.87 $ 3.23 $ 2.54
Shares used to compute diluted earnings per share (in shares) 130,671 133,504 131,830 134,250
Dividends declared per common share (in USD per share) $ 0 $ 0 $ 0.46 $ 0.43
Asset management, administration and distribution fees        
Revenues:        
Revenues $ 423,859 $ 380,594 $ 1,237,623 $ 1,131,244
Information processing and software servicing fees        
Revenues:        
Revenues $ 113,537 $ 96,165 $ 330,338 $ 303,691