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Unaudited Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenue from contract with customer $ 234,312 $ 316,574 $ 767,298 $ 912,200
Total revenues 234,312 316,574 767,298 912,200
Operating Expenses        
Compensation and benefits 122,033 142,235 389,359 419,713
Distribution, servicing and marketing 5,593 8,131 18,952 23,707
Occupancy 7,127 5,560 20,407 16,260
Communication and technology 11,945 10,873 35,833 31,150
General and administrative 8,888 6,717 28,622 18,700
Total operating expenses 155,586 173,516 493,173 509,530
Total operating income 78,726 143,058 274,125 402,670
Non-operating income (expense)        
Interest expense (2,428) (2,711) (7,853) (8,116)
Net gain (loss) on the tax receivable agreements 431 358 913 358
Total non-operating income (expense) (11,496) (1,638) (45,274) 12,332
Income before income taxes 67,230 141,420 228,851 415,002
Provision for income taxes 14,750 28,054 46,761 78,137
Net income before noncontrolling interests 52,480 113,366 182,090 336,865
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings 10,999 24,796 37,150 74,064
Less: Net income (loss) attributable to noncontrolling interests - consolidated investment products (2,754) 2,157 (9,007) 10,903
Net income attributable to Artisan Partners Asset Management Inc. $ 44,235 $ 86,413 $ 153,947 $ 251,898
Basic earnings per share (in dollars per share) $ 0.65 $ 1.30 $ 2.17 $ 3.84
Diluted earnings per share (in dollars per share) $ 0.65 $ 1.30 $ 2.17 $ 3.84
Basic weighted average number of common shares outstanding (in shares) 62,623,434 59,965,549 62,329,756 59,519,634
Diluted weighted average number of common shares outstanding (in shares) 62,632,660 59,982,774 62,353,275 59,535,894
Dividends declared per Class A common share (in dollars per share) $ 0.60 $ 1.00 $ 3.11 $ 3.16
Variable Interest Entity, Primary Beneficiary        
Non-operating income (expense)        
Net investment gain (loss) $ (3,936) $ 2,824 $ (14,605) $ 18,068
Consolidated Entity, Excluding VIE        
Non-operating income (expense)        
Net investment gain (loss) (5,563) (2,109) (23,729) 2,022
Management fees        
Revenue from contract with customer 234,191 316,176 766,901 901,011
Performance fees        
Revenue from contract with customer $ 121 $ 398 $ 397 $ 11,189