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Consolidated Statements of Operations (unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Revenues:        
Total revenue $ 578,511 $ 537,396 $ 1,689,456 $ 1,567,961
Expenses:        
Subadvisory, distribution and other asset management costs 55,072 47,969 152,313 141,279
Software royalties and other information processing costs 9,434 8,936 27,706 25,503
Compensation, benefits and other personnel 203,739 191,740 594,097 570,534
Stock-based compensation 13,956 13,696 41,985 37,224
Consulting, outsourcing and professional fees 54,401 53,291 167,344 159,258
Data processing and computer related 41,569 37,556 122,689 112,790
Facilities, supplies and other costs 20,982 21,622 61,481 58,795
Amortization 11,912 10,413 33,071 31,284
Depreciation 7,485 8,341 23,077 25,097
Total expenses 418,550 393,564 1,223,763 1,161,764
Income from operations 159,961 143,832 465,693 406,197
Net gain from investments 1,992 427 4,244 3,349
Interest and dividend income 10,207 13,579 29,711 35,950
Interest expense (109) (141) (386) (419)
Gain on sale of business 0 0 94,412 0
Other income 4,922 8,151 9,422 8,151
Equity in earnings of unconsolidated affiliate 31,903 36,513 94,290 102,375
Net gain from consolidated variable interest entities 1,845 0 1,845 0
Income before income taxes 210,721 202,361 699,231 555,603
Income taxes 46,135 47,461 156,045 130,183
Net income 164,586 154,900 543,186 425,420
Less: Net income attributable to non-controlling interests 382 0 382 0
Net income $ 164,204 $ 154,900 $ 542,804 $ 425,420
Basic earnings per common share (in USD per share) $ 1.33 $ 1.20 $ 4.35 $ 3.26
Shares used to compute basic earnings per share (in shares) 123,099 129,418 124,710 130,550
Diluted earnings per common share (in USD per share) $ 1.30 $ 1.19 $ 4.25 $ 3.23
Shares used to compute diluted earnings per share (in shares) 126,325 130,671 127,684 131,830
Dividends declared per common share (in USD per share) $ 0 $ 0 $ 0.49 $ 0.46
Asset management, administration and distribution fees        
Revenues:        
Total revenue $ 461,964 $ 423,859 $ 1,331,650 $ 1,237,623
Information processing and software servicing fees        
Revenues:        
Total revenue $ 116,547 $ 113,537 $ 357,806 $ 330,338