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Unaudited Consolidated Statements of Operations - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue from contract with customers $ 279,582 $ 248,722 $ 814,751 $ 726,134
Total revenues 279,582 248,722 814,751 726,134
Operating Expenses        
Compensation and benefits 149,034 130,648 445,704 392,593
Distribution, servicing and marketing 6,363 6,153 19,149 17,786
Occupancy 8,208 7,244 23,010 21,506
Communication and technology 13,053 12,974 39,661 38,395
General and administrative 9,744 9,548 29,759 28,690
Total operating expenses 186,402 166,567 557,283 498,970
Total operating income 93,180 82,155 257,468 227,164
Interest Expense, Nonoperating 2,199 2,297 6,454 6,520
Non-operating income (expense)        
Interest income on cash and cash equivalents and other 2,769 2,089 6,619 3,773
Net gain (loss) on the tax receivable agreements (504) 505 (504) 505
Total non-operating income (expense) 35,609 5,843 69,976 43,503
Income before income taxes 128,789 87,998 327,444 270,667
Provision for income taxes 24,604 14,570 65,307 51,663
Net income before noncontrolling interests 104,185 73,428 262,137 219,004
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings 14,584 11,319 38,938 35,493
Less: Net income (loss) attributable to noncontrolling interests - consolidated investment products 16,611 8,954 33,154 25,978
Net income attributable to Artisan Partners Asset Management Inc. $ 72,990 $ 53,155 $ 190,045 $ 157,533
Basic earnings per share (in dollars per share) $ 1.03 $ 0.76 $ 2.68 $ 2.27
Diluted earnings per share (in dollars per share) $ 1.03 $ 0.76 $ 2.68 $ 2.27
Basic weighted average number of common shares outstanding (in shares) 65,123,054 63,520,402 64,802,431 63,419,587
Diluted weighted average number of common shares outstanding (in shares) 65,162,898 63,563,044 64,840,056 63,449,804
Dividends declared per Class A common share (in dollars per share) $ 0.71 $ 0.61 $ 2.34 $ 2.01
Variable Interest Entity, Primary Beneficiary        
Non-operating income (expense)        
Net investment gain (loss) $ 23,165 $ 9,787 $ 45,636 $ 38,189
Consolidated Entity Excluding Variable Interest Entities (VIE)        
Non-operating income (expense)        
Net investment gain (loss) 12,378 (4,241) 24,679 7,556
Management fees        
Revenue from contract with customers 279,546 248,691 814,665 725,980
Performance fees        
Revenue from contract with customers $ 36 $ 31 $ 86 $ 154