XML 31 R81.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Consolidated Sponsored Investment Products - Consolidated Statements of Income (Detail) (USD $) In Thousands, unless otherwise specified | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues | $ 106,498 | $ 100,409 | $ 96,140 | $ 86,168 | $ 78,919 | $ 71,951 | $ 66,818 | $ 62,398 | $ 389,215 | $ 280,086 | $ 204,652
Total operating expenses |  |  |  |  |  |  |  |  | 275,711 | 219,641 | 190,749
Operating income (loss) | 33,892 | 31,630 | 26,882 | 21,100 | 20,472 | 17,767 | 14,253 | 7,953 | 113,504 | 60,445 | 13,903
Total other non-operating income (expense) |  |  |  |  |  |  |  |  | 8,404 | 4,358 |
Income Before Income Taxes |  |  |  |  |  |  |  |  | 121,908 | 64,803 | 12,992
Income tax expense |  |  |  |  |  |  |  |  | 44,778 | 27,030 | (132,428)
Net income (loss) |  |  |  |  |  |  |  |  | 77,130 | 37,773 | 145,420
Noncontrolling interests |  |  |  |  |  |  |  |  | (1,940) | (101) |
Allocation of earnings to preferred stockholders |  |  |  |  |  |  |  |  |  | (64) | (24,260)
Net Income Attributable to Common Stockholders | 24,756 | 21,089 | 15,385 | 13,960 | 12,213 | 11,642 | 8,367 | 5,386 | 75,190 | 37,608 | 111,678
Reportable Legal Entities [Member] | Balance Before Consolidation of Investment Products [Member] |  |  |  |  |  |  |  |  |  |  |
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  |  |  |  |  |  |  |  | 389,202 | 279,919 |
Total operating expenses |  |  |  |  |  |  |  |  | 274,913 | 219,326 |
Operating income (loss) |  |  |  |  |  |  |  |  | 114,289 | 60,593 |
Total other non-operating income (expense) |  |  |  |  |  |  |  |  | 5,620 | 4,106 |
Income Before Income Taxes |  |  |  |  |  |  |  |  | 119,909 | 64,699 |
Income tax expense |  |  |  |  |  |  |  |  | 44,778 | 27,030 |
Net income (loss) |  |  |  |  |  |  |  |  | 75,131 | 37,669 |
Noncontrolling interests |  |  |  |  |  |  |  |  | 59 | 3 |
Allocation of earnings to preferred stockholders |  |  |  |  |  |  |  |  |  | (64) |
Net Income Attributable to Common Stockholders |  |  |  |  |  |  |  |  | 75,190 | 37,608 |
Reportable Legal Entities [Member] | Consolidated Sponsored Investment Products [Member] |  |  |  |  |  |  |  |  |  |  |
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  |  |  |  |  |  |  |  |  |  |
Total operating expenses |  |  |  |  |  |  |  |  | 785 | 148 |
Operating income (loss) |  |  |  |  |  |  |  |  | (785) | (148) |
Total other non-operating income (expense) |  |  |  |  |  |  |  |  | 6,098 | 2,649 |
Income Before Income Taxes |  |  |  |  |  |  |  |  | 5,313 | 2,501 |
Income tax expense |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  |  |  |  |  |  |  |  | 5,313 | 2,501 |
Noncontrolling interests |  |  |  |  |  |  |  |  |  |  |
Allocation of earnings to preferred stockholders |  |  |  |  |  |  |  |  |  |  |
Net Income Attributable to Common Stockholders |  |  |  |  |  |  |  |  | 5,313 | 2,501 |
Consolidation, Eliminations [Member] |  |  |  |  |  |  |  |  |  |  |
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  |  |  |  |  |  |  |  | 13 | 167 |
Total operating expenses |  |  |  |  |  |  |  |  | 13 | 167 |
Operating income (loss) |  |  |  |  |  |  |  |  |  |  |
Total other non-operating income (expense) |  |  |  |  |  |  |  |  | (3,314) | (2,397) |
Income Before Income Taxes |  |  |  |  |  |  |  |  | (3,314) | (2,397) |
Income tax expense |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  |  |  |  |  |  |  |  | (3,314) | (2,397) |
Noncontrolling interests |  |  |  |  |  |  |  |  | (1,999) | (104) |
Allocation of earnings to preferred stockholders |  |  |  |  |  |  |  |  |  |  |
Net Income Attributable to Common Stockholders |  |  |  |  |  |  |  |  | $ (5,313) | $ (2,501) |

X
- Details
Name: | us-gaap_CondensedIncomeStatementsCaptionsLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of income (loss) from continuing operations attributable to the noncontrolling interest. Also defined as revenue less expenses and taxes from ongoing operations before extraordinary items but after deduction of those portions of income or loss from continuing operations that are allocable to noncontrolling interests. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4568447-111683 + Details
Name: | us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 10 -Article 5 + Details
Name: | us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(h)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 08 -Paragraph h -Article 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Income Tax Expense (or Benefit) -URI http://asc.fasb.org/extlink&oid=6515339 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
Name: | us-gaap_IncomeTaxExpenseBenefit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Other Comprehensive Income -URI http://asc.fasb.org/extlink&oid=6519514 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Net Income -URI http://asc.fasb.org/extlink&oid=6518256 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.19) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.18) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 225 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04.22) -URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5 + Details
Name: | us-gaap_NetIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Net income after adjustments for dividends on preferred stock (declared in the period) and/or cumulative preferred stock (accumulated for the period). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1377-109256 + Details
Name: | us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. + References No definition available. + Details
Name: | us-gaap_OperatingExpenses
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The net result for the period of deducting operating expenses from operating revenues. + References No definition available. + Details
Name: | us-gaap_OperatingIncomeLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The aggregate value of preferred stock dividends and other adjustments necessary to derive net income apportioned to common stockholders. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1377-109256 + Details
Name: | us-gaap_PreferredStockDividendsAndOtherAdjustments
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 225 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 1 -Article 5 + Details
Name: | us-gaap_Revenues
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition Other Non-operating Income Expenses + References No definition available. + Details
Name: | vrts_OtherNonoperatingIncomeExpenses
Namespace Prefix: | vrts_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration