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Unaudited Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue from contract with customer $ 242,903 $ 251,388 $ 477,412 $ 532,986
Total revenues 242,903 251,388 477,412 532,986
Operating Expenses        
Compensation and benefits 130,433 127,394 261,945 267,326
Distribution, servicing and marketing 6,016 6,298 11,633 13,359
Occupancy 7,232 6,698 14,262 13,280
Communication and technology 12,991 12,928 25,421 25,262
General and administrative 9,529 9,662 19,142 18,360
Total operating expenses 166,201 162,980 332,403 337,587
Total operating income 76,702 88,408 145,009 195,399
Non-operating income (expense)        
Interest expense (2,167) (2,739) (4,223) (5,425)
Net gain (loss) on the tax receivable agreements 0 0 0 482
Total non-operating income (expense) 15,519 (28,010) 37,660 (33,778)
Income before income taxes 92,221 60,398 182,669 161,621
Provision for income taxes 18,446 13,225 37,093 32,011
Net income before noncontrolling interests 73,775 47,173 145,576 129,610
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings 12,137 10,536 24,174 26,151
Less: Net income (loss) attributable to noncontrolling interests - consolidated investment products 8,013 (7,642) 17,024 (6,253)
Net income attributable to Artisan Partners Asset Management Inc. $ 53,625 $ 44,279 $ 104,378 $ 109,712
Basic earnings per share (in dollars per share) $ 0.76 $ 0.62 $ 1.50 $ 1.52
Diluted earnings per share (in dollars per share) $ 0.76 $ 0.62 $ 1.50 $ 1.52
Basic weighted average number of common shares outstanding (in shares) 63,503,389 62,320,372 63,368,343 62,180,483
Diluted weighted average number of common shares outstanding (in shares) 63,520,040 62,350,383 63,384,352 62,211,148
Dividends declared per Class A common share (in dollars per share) $ 0.50 $ 0.76 $ 1.40 $ 2.51
Variable Interest Entity, Primary Beneficiary        
Non-operating income (expense)        
Other net investment gain (loss) $ 13,462 $ (11,857) $ 28,402 $ (10,669)
Consolidated Entity, Excluding VIE        
Non-operating income (expense)        
Other net investment gain (loss) 4,224 (13,414) 13,481 (18,166)
Management fees        
Revenue from contract with customer 242,849 251,304 477,289 532,710
Performance fees        
Revenue from contract with customer $ 54 $ 84 $ 123 $ 276