XML 47 R28.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Income Taxes (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2015
Income Tax Disclosure [Abstract] |
Components of Current and Deferred Income Tax Expense | The components of current and deferred income tax expense included in the Consolidated Statement of Operations for years ended December 31, 2015, 2014 and 2013 as determined in accordance with ASC 740, Income Taxes (“ASC 740”), are as follows:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Current: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 1,598 |  |  | $ | — |  |  | $ | — |
State and local |  |  | 2,431 |  |  |  | 94 |  |  |  | — |
Foreign |  |  | 210 |  |  |  | — |  |  |  | — |
|  |  | 4,239 |  |  |  | 94 |  |  |  | — |
Deferred: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 46,784 |  |  |  | 10,739 |  |  |  | — |
State and local |  |  | 6,233 |  |  |  | 1,664 |  |  |  | — |
Foreign |  |  | (123 | ) |  |  | — |  |  |  | — |
|  |  | 52,894 |  |  |  | 12,403 |  |  |  | — |
Income tax expense from operations |  | $ | 57,133 |  |  | $ | 12,497 |  |  | $ | — |
Schedule of Net Operating Losses for Tax Purposes | The Company has generated net operating losses for tax purposes (“NOLs”) during the year ended December 31, 2013 and prior periods which may be used to minimize income taxes. The following table provides a summary of the NOL activity for the years indicated:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Beginning NOLs |  | $ | (109,839 | ) |  | $ | (140,959 | ) |  | $ | (136,515 | )
2014 return to provision adjustment |  |  | 3,906 |  |  |  | — |  |  |  | — |
U.S. GAAP income |  |  | 143,665 |  |  |  | 77,609 |  |  |  | 51,537 |
Tax differences: |  |  |  |  |  |  |  |  |  |  |  |
Temporary |  |  | 11,804 |  |  |  | (1,425 | ) |  |  | 5,580 |
Permanent |  |  | (73,175 | ) |  |  | (45,064 | ) |  |  | (61,561 | )
State taxes |  |  | (2,431 | ) |  |  | — |  |  |  | — |
Ending NOLs |  | $ | (26,070 | ) |  | $ | (109,839 | ) |  | $ | (140,959 | )
Schedule of Net Operating Loss Expiration | Prior to the consideration of any limitations imposed due to ownership changes, the Company’s available NOLs will expire as follows:
Year Ending December 31: |
2019 |  | $ | 5,078 |
2021 |  |  | 579 |
2023 |  |  | 608 |
2024 |  |  | 1,942 |
2032 |  |  | 13,419 |
2033 |  |  | 4,444 |
|  | $ | 26,070 |
Schedule of Annual Limitations for Net Operating Losses | The amounts summarized above are subject to the following annual limitations as indicated by the years such NOLs were incurred:
NOLs generated between |  | Total |  |  | Annual Prospective Limitation |  |  | Amount Deemed Worthless |
1998 — 2004 |  | $ | 8,207 |  |  | $ | 524 |  |  | $ | 3,487 |
2005 — 2013 |  |  | 17,863 |  |  |  | — |  |  |  | — |
NOLs |  | $ | 26,070 |  |  | $ | 524 |  |  | $ | 3,487 |
Schedule of Reconciliation of Gross Net Operating Loss | A reconciliation of the NOLs presented above and the amount utilized in calculating the deferred tax asset at December 31, 2015 and 2014, respectively, is as follows:
|  | December 31, |
|  | 2015 |  |  | 2014 |
NOLs |  | $ | 26,070 |  |  | $ | 109,839 |
NOLs deemed worthless |  |  | (3,487 | ) |  |  | (3,487 | )
Unrecognized stock-based compensation |  |  | (17,863 | ) |  |  | (101,108 | )
Gross NOLs available for deferred tax asset |  |  | 4,720 |  |  |  | 5,244 |
Tax rate |  |  | 38.74 | % |  |  | 38.38 | %
Tax affected |  | $ | 1,828 |  |  | $ | 2,013 |
Deferred Tax Assets | At December 31, 2015 and 2014, the composition of the deferred tax asset is summarized as follows:
|  | December 31, |
|  | 2015 |  |  | 2014 |
Deferred tax assets: |  |  |  |  |  |  |  |
NOLs |  | $ | 1,828 |  |  | $ | 2,013 |
Foreign NOLs |  |  | 2,051 |  |  |  | 816 |
Stock-based compensation |  |  | 4,868 |  |  |  | 6,046 |
Accrued expenses |  |  | 10,197 |  |  |  | 5,236 |
Deferred rent liability |  |  | 2,116 |  |  |  | 2,170 |
Other |  |  | 82 |  |  |  | 82 |
Deferred tax assets |  |  | 21,142 |  |  |  | 16,363 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Incentive compensation |  |  | 2,753 |  |  |  | 4,092 |
Fixed assets |  |  | 2,272 |  |  |  | 1,965 |
Unrealized gains |  |  | (5 | ) |  |  | — |
Deferred tax liabilities |  |  | 5,020 |  |  |  | 6,057 |
Total deferred tax assets less deferred tax liabilities |  |  | 16,122 |  |  |  | 10,306 |
Less: valuation allowance |  |  | (2,051 | ) |  |  | (816 | )
Net deferred tax assets and liabilities |  | $ | 14,071 |  |  | $ | 9,490 |
Reconciliation of Statutory Federal Income Tax Rate and Company's Effective Rate | A reconciliation of the statutory federal income tax rate of 35% and the Company’s effective rate is as follows:
|  | December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
Federal statutory rate |  |  | 35.00 | % |  |  | 35.00 | % |  |  | 35.00 | %
Permanent differences |  |  | 0.69 | % |  |  | 0.69 | % |  |  | 0.09 | %
State income tax rate, net of federal benefit |  |  | 4.11 | % |  |  | 1.55 | % |  |  | 10.06 | %
Foreign tax differential |  |  | 0.82 | % |  |  | 0.82 | % |  |  | — |
Change in valuation allowance |  |  | 0.90 | % |  |  | (27.74 | %) |  |  | (45.13 | %)
Change in effective state rate |  |  | (0.06 | %) |  |  | 6.86 | % |  |  | — |
Other differences, net |  |  | 0.19 | % |  |  | (0.19 | %) |  |  | (0.02 | %)
Effective rate |  |  | 41.65 | % |  |  | 16.99 | % |  |  | 0.00 | %

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Deferred Tax Assets Table [Text Block] + References No definition available. + Details
Name: | wetf_ScheduleOfDeferredTaxAssetsTableTextBlock
Namespace Prefix: | wetf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Operating Loss Carryforward Expiration Table [Text Block] + References No definition available. + Details
Name: | wetf_ScheduleOfOperatingLossCarryforwardExpirationTableTextBlock
Namespace Prefix: | wetf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Other Operating Loss Income Net Table [Text Block] + References No definition available. + Details
Name: | wetf_ScheduleOfOtherOperatingLossIncomeNetTableTextBlock
Namespace Prefix: | wetf_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration