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Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified | 12 Months Ended
--- | ---
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011
Revenues |  |  |
Investment management fees | $ 260,557 | $ 187,875 | $ 135,063
Distribution and service fees | 78,965 | 56,866 | 43,792
Administration and transfer agent fees | 48,185 | 33,779 | 23,878
Other income and fees | 1,508 | 1,566 | 1,919
Total revenues | 389,215 | 280,086 | 204,652
Operating Expenses |  |  |
Employment expenses | 131,768 | 105,571 | 92,543
Distribution and administration expenses | 97,786 | 72,210 | 60,176
Other operating expenses | 38,321 | 34,017 | 30,157
Other operating expenses of consolidated sponsored investment products | 798 | 315 |
Restructuring and severance | 203 | 1,597 | 2,008
Depreciation expense | 2,422 | 1,810 | 1,847
Amortization expense | 4,413 | 4,121 | 4,018
Total operating expenses | 275,711 | 219,641 | 190,749
Operating Income | 113,504 | 60,445 | 13,903
Other Income (Expense) |  |  |
Realized and unrealized gain (loss) on investments, net | 2,350 | 1,891 | (256)
Realized and unrealized gain on investments of consolidated sponsored investment products, net | 3,515 | 2,072 |
Other income (expense), net | 74 | (38) | (194)
Total other income (expense), net | 5,939 | 3,925 | (450)
Interest Income (Expense) |  |  |
Interest expense | (782) | (854) | (782)
Interest and dividend income | 664 | 710 | 321
Interest and dividend income of investments of consolidated sponsored investment products | 2,583 | 577 |
Total interest income (expense), net | 2,465 | 433 | (461)
Income Before Income Taxes | 121,908 | 64,803 | 12,992
Income tax expense (benefit) | 44,778 | 27,030 | (132,428)
Net Income | 77,130 | 37,773 | 145,420
Noncontrolling interests | (1,940) | (101) |
Preferred stockholder dividends |  |  | (9,482)
Allocation of earnings to preferred stockholders |  | (64) | (24,260)
Net Income Attributable to Common Stockholders | $ 75,190 | $ 37,608 | $ 111,678
Earnings per share-Basic | $ 9.18 | $ 4.87 | $ 17.98
Earnings per share-Diluted | $ 8.92 | $ 4.66 | $ 16.34
Weighted Average Shares Outstanding-Basic (in thousands) | 8,188 | 7,727 | 6,211
Weighted Average Shares Outstanding-Diluted (in thousands) | 8,433 | 8,073 | 6,834

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