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Unaudited Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue from contract with customer $ 248,722 $ 234,312 $ 726,134 $ 767,298
Total revenues 248,722 234,312 726,134 767,298
Operating Expenses        
Compensation and benefits 130,648 122,033 392,593 389,359
Distribution, servicing and marketing 6,153 5,593 17,786 18,952
Occupancy 7,244 7,127 21,506 20,407
Communication and technology 12,974 12,441 38,395 37,704
General and administrative 9,548 8,392 28,690 26,751
Total operating expenses 166,567 155,586 498,970 493,173
Total operating income 82,155 78,726 227,164 274,125
Non-operating income (expense)        
Interest expense (2,297) (2,428) (6,520) (7,853)
Net gain (loss) on the tax receivable agreements 505 431 505 913
Total non-operating income (expense) 5,843 (11,496) 43,503 (45,274)
Income before income taxes 87,998 67,230 270,667 228,851
Provision for income taxes 14,570 14,750 51,663 46,761
Net income before noncontrolling interests 73,428 52,480 219,004 182,090
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings 11,319 10,999 35,493 37,150
Less: Net income (loss) attributable to noncontrolling interests - consolidated investment products 8,954 (2,754) 25,978 (9,007)
Net income attributable to Artisan Partners Asset Management Inc. $ 53,155 $ 44,235 $ 157,533 $ 153,947
Basic earnings per share (in dollars per share) $ 0.76 $ 0.65 $ 2.27 $ 2.17
Diluted earnings per share (in dollars per share) $ 0.76 $ 0.65 $ 2.27 $ 2.17
Basic weighted average number of common shares outstanding (in shares) 63,520,402 62,623,434 63,419,587 62,329,756
Diluted weighted average number of common shares outstanding (in shares) 63,563,044 62,632,660 63,449,804 62,353,275
Dividends declared per Class A common share (in dollars per share) $ 0.61 $ 0.60 $ 2.01 $ 3.11
Variable Interest Entity, Primary Beneficiary        
Non-operating income (expense)        
Other net investment gain (loss) $ 9,787 $ (3,936) $ 38,189 $ (14,605)
Consolidated Entity, Excluding VIE        
Non-operating income (expense)        
Other net investment gain (loss) (2,152) (5,563) 11,329 (23,729)
Management fees        
Revenue from contract with customer 248,691 234,191 725,980 766,901
Performance fees        
Revenue from contract with customer $ 31 $ 121 $ 154 $ 397