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v3.3.1.900

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
Revenues: |  |  |
ETF advisory fees | $ 297,944 | $ 182,816 | $ 148,594
Other income | 998 | 946 | 874
Total revenues | 298,942 | 183,762 | 149,468
Expenses: |  |  |
Compensation and benefits | 73,228 | 40,995 | 36,210
Fund management and administration | 42,782 | 34,383 | 35,076
Marketing and advertising | 13,371 | 11,514 | 8,309
Sales and business development | 9,189 | 6,221 | 6,474
Professional and consulting fees | 7,067 | 7,578 | 2,748
Occupancy, communications, and equipment | 4,299 | 3,578 | 2,784
Depreciation and amortization | 1,006 | 821 | 439
Third party sharing arrangements | 2,443 | 594 | 1,368
Acquisition contingent payment | 2,185 |  |
Other | 6,187 | 4,530 | 4,523
Total expenses | 161,757 | 110,214 | 97,931
Income before taxes | 137,185 | 73,548 | 51,537
Income tax expense | 57,133 | 12,497 |
Net income | $ 80,052 | $ 61,051 | $ 51,537
Net income per share - basic | $ 0.58 | $ 0.46 | $ 0.41
Net income per share - diluted | $ 0.58 | $ 0.44 | $ 0.37
Weighted-average common shares - basic | 137,242 | 131,770 | 126,651
Weighted-average common shares - diluted | 138,825 | 138,551 | 139,797
Cash dividends declared per common share | $ 0.57 | $ 0.08 |

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