XML 26 R16.htm IDEA: XBRL DOCUMENT v3.23.1
Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue From Contracts with Customers
Note 9. Revenue From Contracts with Customers
The following table presents a disaggregation of investment advisory revenue by type and vehicle for the three months ended March 31, 2023 and 2022:
For the Three Months Ended March 31,
20232022
Management fees
   Artisan Funds$134,393 $163,586 
   Artisan Global Funds10,239 11,942 
   Separate accounts and other (1)
89,808 105,878 
Performance fees
   Separate accounts and other (1)
69 192 
Total revenues (2)
$234,509 $281,598 
(1) Separate accounts and other revenue consists of management fees and performance fees earned from vehicles other than Artisan Funds or Artisan Global Funds, and therefore includes revenue earned from traditional separate accounts, Artisan-branded collective investment trusts and Artisan Private Funds.
(2) All management fees and performance fees from consolidated investment products were eliminated upon consolidation and therefore are omitted from this table. See Note 14, “Related Party Transactions.”
The following table presents the balances of receivables related to contracts with customers:
CustomerAs of March 31, 2023As of December 31, 2022
   Artisan Funds$4,544 $5,597 
   Artisan Global Funds4,636 4,453 
   Separate accounts and other78,191 74,936 
Total receivables from contracts with customers$87,371 $84,986 
Non-customer receivables13,282 13,648 
Accounts receivable$100,653 $98,634 
Artisan Funds and Artisan Global Funds are billed on the last day of each month. Artisan Funds and Artisan Global Funds make payments on the same day the invoice is received for the majority of the invoiced amount. The remainder of the invoice is generally paid in the month following receipt of the invoice. Separate accounts and other clients are generally billed on a monthly or quarterly basis, with payments due within 30 days of billing.
Artisan had no other contract assets or liabilities from contracts with customers as of March 31, 2023 or December 31, 2022.
Non-customer receivables includes state tax payments made on behalf of certain limited partners, which are then netted from subsequent distributions or payments to the limited partners, as well as redemptions of investments related to franchise capital that have not yet been collected.