XML 14 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Revenue        
Investment advisory fees, net—affiliates $ 149,412 $ 169,327 $ 442,536 $ 490,059
Investment advisory fees, net—other 35,474 27,926 102,989 81,703
Administrative service fees, net—affiliates 47,461 53,577 139,763 160,181
Other service fees, net—affiliates 44,196 41,701 133,748 115,201
Other service fees, net—other 1,364 1,033 4,306 3,374
Other, net 408 1,056 1,270 2,949
Total revenue 278,315 294,620 824,612 853,467
Operating Expenses        
Distribution 84,838 98,740 262,371 281,862
Compensation and related 72,454 75,731 217,226 227,726
Systems and communications 7,992 7,763 24,258 23,395
Office and occupancy 7,293 6,660 21,805 20,223
Professional service fees 6,563 7,360 18,971 19,886
Travel and related 3,258 3,165 9,150 9,727
Advertising and promotional 2,345 3,371 8,396 10,751
Other 4,882 3,194 11,761 9,036
Total operating expenses 189,625 205,984 573,938 602,606
Operating income 88,690 88,636 250,674 250,861
Nonoperating Income (Expenses)        
Investment income, net 1,889 1,857 5,244 5,104
Gain on securities, net [1] 1,667 2,032 6,463 2,553
Debt expense (1,250) (1,039) (3,534) (3,118)
Other, net 1 19 (32) 13
Total nonoperating income, net 2,307 2,869 8,141 4,552
Income before income taxes 90,997 91,505 258,815 255,413
Income tax provision 33,756 32,597 95,888 91,128
Net income including the noncontrolling interests in subsidiaries 57,241 58,908 162,927 164,285
Less: Net income attributable to the noncontrolling interests in subsidiaries 802 3,983 3,396 11,208
Net income $ 56,439 $ 54,925 $ 159,531 $ 153,077
Amounts Attributable to Federated Investors, Inc.        
Earnings per common share—Basic and Diluted [2] $ 0.56 $ 0.54 $ 1.57 $ 1.48
Cash dividends per share $ 0.25 $ 0.25 $ 0.75 $ 0.75
[1] Amounts related to consolidated entities, primarily Federated Funds, totaled $0.6 million and $3.2 million for the three and nine months ended September 30, 2017, respectively and $1.6 million and $3.5 million for the three and nine months ended September 30, 2016, respectively.
[2] Federated Common Stock excludes unvested restricted shares which are deemed participating securities in accordance with the two-class method of computing earnings per share.