XML 20 R4.htm IDEA: XBRL DOCUMENT v3.21.2
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Operating Revenues:        
Total revenues $ 78,112 $ 63,749 $ 225,143 $ 184,260
Operating Expenses:        
Compensation and benefits 22,027 19,098 64,985 53,848
Fund management and administration 15,181 14,328 43,495 41,785
Marketing and advertising 2,925 2,996 9,525 7,413
Sales and business development 2,935 2,386 7,239 7,984
Contractual gold payments (Note 9) 4,250 4,539 12,834 12,362
Professional fees 1,583 950 5,517 3,580
Occupancy, communications and equipment 1,163 1,611 3,904 4,805
Depreciation and amortization 185 253 693 760
Third-party distribution fees 1,873 1,233 5,346 3,928
Acquisition and disposition-related costs       416
Other 1,787 1,611 5,110 5,204
Total operating expenses 53,909 49,005 158,648 142,085
Operating income 24,203 14,744 66,495 42,175
Other Income/(Expenses):        
Interest expense (3,729) (2,511) (8,592) (6,974)
Gain/(loss) on revaluation of deferred consideration – gold payments (Note 9) 1,737 (8,870) 5,066 (34,436)
Interest income 689 111 1,145 393
Impairments (Note 13 and 24) (15,853) (3,080) (16,156) (22,752)
Loss on extinguishment of debt (Note 10)       (2,387)
Other losses and gains, net (714) 744 (6,558) 56
Income/(loss) before income taxes 6,333 1,138 41,400 (23,925)
Income tax expense/(benefit) 500 1,408 2,790 (1,767)
Net income/(loss) $ 5,833 $ (270) $ 38,610 $ (22,158)
Earnings/(loss) per share—basic $ 0.04 $ (0.01) $ 0.24 $ (0.16)
Earnings/(loss) per share—diluted $ 0.04 $ (0.01) $ 0.24 $ (0.16)
Weighted-average common shares—basic 142,070 145,564 144,445 149,886
Weighted-average common shares—diluted 159,213 145,564 [1] 161,706 149,886 [1]
Cash dividends declared per common share $ 0.03 $ 0.03 $ 0.09 $ 0.09
Advisory Fees [Member]        
Operating Revenues:        
Total revenues $ 76,400 $ 63,028 $ 220,611 $ 181,697
Other Income [Member]        
Operating Revenues:        
Total revenues $ 1,712 $ 721 $ 4,532 $ 2,563
[1] Excludes 15,307 participating securities and 5 potentially dilutive common stock equivalents for the three months ended September 30, 2020 and 14,997 participating securities and 5 potentially dilutive common stock equivalents for the nine months ended September 30, 2020, as the Company reported a net loss for the period (shares herein are reported in thousands).