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v3.22.2.2

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021
Operating Revenues: |  |  |  |
Total revenues | $ 72,414 | $ 78,112 | $ 228,035 | $ 225,143
Operating Expenses: |  |  |  |
Compensation and benefits | 23,714 | 22,027 | 73,066 | 64,985
Fund management and administration | 16,285 | 15,181 | 47,855 | 43,495
Marketing and advertising | 3,145 | 2,925 | 11,062 | 9,525
Sales and business development | 2,724 | 2,935 | 8,464 | 7,239
Contractual gold payments (Note 9) | 4,105 | 4,250 | 13,001 | 12,834
Professional fees | 2,367 | 1,583 | 11,134 | 5,517
Occupancy, communications and equipment | 986 | 1,163 | 2,788 | 3,904
Depreciation and amortization | 58 | 185 | 158 | 693
Third-party distribution fees | 1,833 | 1,873 | 5,863 | 5,346
Other | 2,324 | 1,787 | 6,278 | 5,110
Total operating expenses | 57,541 | 53,909 | 179,669 | 158,648
Operating income | 14,873 | 24,203 | 48,366 | 66,495
Other Income/(Expenses): |  |  |  |
Interest expense | (3,734) | (3,729) | (11,199) | (8,592)
Gain on revaluation of deferred consideration—gold payments (Note 9) | 77,895 | 1,737 | 63,188 | 5,066
Interest income | 811 | 689 | 2,375 | 1,145
Impairments (Notes 8, 12 and 23) | 0 | (15,853) | 0 | (16,156)
Other losses, net | (5,289) | (714) | (34,470) | (6,558)
Income before income taxes | 84,556 | 6,333 | 68,260 | 41,400
Income tax expense/(benefit) | 3,327 | 500 | (10,713) | 2,790
Net income | $ 81,229 | $ 5,833 | $ 78,973 | $ 38,610
Earnings per share—basic | $ 0.5 | $ 0.04 | $ 0.49 | $ 0.24
Earnings per share—diluted | $ 0.5 | $ 0.04 | $ 0.49 | $ 0.24
Weighted-average common shares—basic | 143,120 | 142,070 | 142,984 | 144,445
Weighted-average common shares—diluted | 158,953 | 159,213 | 158,741 | 161,706
Cash dividends declared per common share | $ 0.03 | $ 0.03 | $ 0.09 | $ 0.09
Advisory Fees [Member] |  |  |  |
Operating Revenues: |  |  |  |
Total revenues | $ 70,616 | $ 76,400 | $ 222,719 | $ 220,611
Other Income [Member] |  |  |  |
Operating Revenues: |  |  |  |
Total revenues | $ 1,798 | $ 1,712 | $ 5,316 | $ 4,532

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