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v2.4.1.9

Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012
Cash Flows from Operating Activities: |  |  |
Net Income | $ 96,965 us-gaap_NetIncomeLoss | $ 77,130 us-gaap_NetIncomeLoss | $ 37,773 us-gaap_NetIncomeLoss
Adjustments to reconcile net income to net cash (used in) provided by operating activities: |  |  |
Depreciation expense, intangible asset and other amortization | 6,759 us-gaap_DepreciationDepletionAndAmortization | 7,046 us-gaap_DepreciationDepletionAndAmortization | 6,198 us-gaap_DepreciationDepletionAndAmortization
Stock-based compensation | 9,778 us-gaap_ShareBasedCompensation | 7,960 us-gaap_ShareBasedCompensation | 6,927 us-gaap_ShareBasedCompensation
Excess tax benefit from stock-based compensation | (24,805)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities | (478)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities | (89)us-gaap_ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
Amortization of deferred commissions | 17,907 us-gaap_AmortizationOfDeferredSalesCommissions | 14,453 us-gaap_AmortizationOfDeferredSalesCommissions | 10,715 us-gaap_AmortizationOfDeferredSalesCommissions
Payments of deferred commissions | (13,796)us-gaap_PaymentsForCommissions | (18,912)us-gaap_PaymentsForCommissions | (10,868)us-gaap_PaymentsForCommissions
Equity in earnings of equity method investments | (488)us-gaap_IncomeLossFromEquityMethodInvestments | (161)us-gaap_IncomeLossFromEquityMethodInvestments |
Realized and unrealized gains on trading securities | (914)us-gaap_GainLossOnInvestments | (2,350)us-gaap_GainLossOnInvestments | (1,891)us-gaap_GainLossOnInvestments
Realized and unrealized losses (gains) on investments of consolidated sponsored investment products | 4,671 vrts_RealizedAndUnrealizedGainLossOnInvestmentsOfConsolidatedSponsoredInvestmentProductsNetAndDerivatives | (3,515)vrts_RealizedAndUnrealizedGainLossOnInvestmentsOfConsolidatedSponsoredInvestmentProductsNetAndDerivatives | (2,072)vrts_RealizedAndUnrealizedGainLossOnInvestmentsOfConsolidatedSponsoredInvestmentProductsNetAndDerivatives
Sales (purchases) of trading securities, net | 26,742 us-gaap_ProceedsFromPaymentsForTradingSecurities | (2,701)us-gaap_ProceedsFromPaymentsForTradingSecurities | 2,025 us-gaap_ProceedsFromPaymentsForTradingSecurities
Purchases of investments by consolidated sponsored investment products, net | (195,683)vrts_PurchaseOfInvestmentsByConsolidatedSponsoredInvestmentProductsNet | (100,499)vrts_PurchaseOfInvestmentsByConsolidatedSponsoredInvestmentProductsNet | (41,155)vrts_PurchaseOfInvestmentsByConsolidatedSponsoredInvestmentProductsNet
Sales of securities sold short by consolidated sponsored investment products, net | 8,071 vrts_SaleOfSecuritiesSoldShortByConsolidatedSponsoredInvestmentProductsNet |  |
Deferred taxes, net | 4,394 us-gaap_DeferredIncomeTaxExpenseBenefit | 32,596 us-gaap_DeferredIncomeTaxExpenseBenefit | 26,689 us-gaap_DeferredIncomeTaxExpenseBenefit
Changes in operating assets and liabilities: |  |  |
Cash pledged or on deposit of consolidated sponsored investment products | (10,785)vrts_IncreaseDecreaseInCashPledgedOrOnDepositOfConsolidatedSponsoredInvestmentProducts |  |
Accounts receivable, net and other assets | (4,157)us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets | (13,416)us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets | (10,047)us-gaap_IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
Other assets of consolidated sponsored investment products | 1,082 vrts_IncreaseDecreaseInOtherCurrentAssetsOfConsolidatedSponsoredInvestmentProducts | (6,043)vrts_IncreaseDecreaseInOtherCurrentAssetsOfConsolidatedSponsoredInvestmentProducts | (683)vrts_IncreaseDecreaseInOtherCurrentAssetsOfConsolidatedSponsoredInvestmentProducts
Accrued compensation and benefits, accounts payable, accrued liabilities and other liabilities | 17,754 us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 37,575 us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities | 15,919 us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Liabilities of consolidated sponsored investment products | (2,366)vrts_IncreaseDecreaseInAccruedLiabilitiesOfConsolidatedSponsoredInvestmentProducts | 152 vrts_IncreaseDecreaseInAccruedLiabilitiesOfConsolidatedSponsoredInvestmentProducts | 377 vrts_IncreaseDecreaseInAccruedLiabilitiesOfConsolidatedSponsoredInvestmentProducts
Net cash (used in) provided by operating activities | (58,871)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 28,837 us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | 39,818 us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Cash Flows from Investing Activities: |  |  |
Capital expenditures | (2,432)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (2,009)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment | (3,782)us-gaap_PaymentsToAcquirePropertyPlantAndEquipment
Change in cash and cash equivalents of consolidated sponsored investment products due to deconsolidation | (436)us-gaap_CashDivestedFromDeconsolidation | (662)us-gaap_CashDivestedFromDeconsolidation |
Asset acquisitions and purchases of other investments | (5,000)vrts_PaymentsToAcquireAssetsAndOtherInvestments | (3,364)vrts_PaymentsToAcquireAssetsAndOtherInvestments | (1,006)vrts_PaymentsToAcquireAssetsAndOtherInvestments
Purchase of available-for-sale securities | (313)us-gaap_PaymentsToAcquireAvailableForSaleSecurities | (196)us-gaap_PaymentsToAcquireAvailableForSaleSecurities | (379)us-gaap_PaymentsToAcquireAvailableForSaleSecurities
Net cash used in investing activities | (8,181)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (6,231)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | (5,167)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Cash Flows from Financing Activities: |  |  |
Contingent consideration paid for acquired investment management contracts | 0 vrts_ContingentConsiderationPaidForAcquiredInvestmentManagementContracts | (630)vrts_ContingentConsiderationPaidForAcquiredInvestmentManagementContracts | (665)vrts_ContingentConsiderationPaidForAcquiredInvestmentManagementContracts
Borrowings of proceeds from short sales by consolidated sponsored investment products | 2,555 vrts_ProceedsFromBorrowingsFromShortSalesByConsolidatedSponsoredInvestmentProducts |  |
Repurchase of common shares | (40,261)us-gaap_PaymentsForRepurchaseOfCommonStock | (19,704)us-gaap_PaymentsForRepurchaseOfCommonStock | (8,940)us-gaap_PaymentsForRepurchaseOfCommonStock
Dividends paid | (8,182)us-gaap_PaymentsOfDividends |  |
Proceeds from exercise of stock options | 753 us-gaap_ProceedsFromStockOptionsExercised | 570 us-gaap_ProceedsFromStockOptionsExercised | 2,636 us-gaap_ProceedsFromStockOptionsExercised
Taxes paid related to net share settlement of restricted stock units | (9,512)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation | (7,513)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation | (11,951)us-gaap_PaymentsRelatedToTaxWithholdingForShareBasedCompensation
Proceeds from issuance of common stock, net of issuance costs | 0 us-gaap_ProceedsFromIssuanceOfCommonStock | 191,771 us-gaap_ProceedsFromIssuanceOfCommonStock |
Excess tax benefits from stock-based compensation | 24,805 us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities | 478 us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities | 89 us-gaap_ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
Payment of debt and deferred financing costs | 0 vrts_PaymentOnDebtAndDeferredFinancingCosts | (15,026)vrts_PaymentOnDebtAndDeferredFinancingCosts | (700)vrts_PaymentOnDebtAndDeferredFinancingCosts
Contributions of noncontrolling interests, net | 28,653 us-gaap_ProceedsFromPaymentsToMinorityShareholders | 35,547 us-gaap_ProceedsFromPaymentsToMinorityShareholders | 3,059 us-gaap_ProceedsFromPaymentsToMinorityShareholders
Net cash (used in) provided by financing activities | (1,189)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 185,493 us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | (16,472)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Net (decrease) increase in cash and cash equivalents | (68,241)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 208,099 us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 18,179 us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of year | 271,545 us-gaap_CashAndCashEquivalentsAtCarryingValue | 63,446 us-gaap_CashAndCashEquivalentsAtCarryingValue | 45,267 us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and Cash Equivalents, end of year | 203,304 us-gaap_CashAndCashEquivalentsAtCarryingValue | 271,545 us-gaap_CashAndCashEquivalentsAtCarryingValue | 63,446 us-gaap_CashAndCashEquivalentsAtCarryingValue
Supplemental Cash Flow Information: |  |  |
Interest paid | 266 us-gaap_InterestPaid | 393 us-gaap_InterestPaid | 415 us-gaap_InterestPaid
Income taxes paid, net | 23,274 us-gaap_IncomeTaxesPaidNet | 1,697 us-gaap_IncomeTaxesPaidNet | 74 us-gaap_IncomeTaxesPaidNet
Non-Cash Investing Activities: |  |  |
Purchase of investment management contracts | 0 vrts_PurchaseOfInvestmentManagementContracts |  | 435 vrts_PurchaseOfInvestmentManagementContracts
Non-cash activity related to rabbi trust | (843)us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired1 | (1,250)us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired1 | (144)us-gaap_NoncashOrPartNoncashAcquisitionInvestmentsAcquired1
Non-Cash Financing Activities: |  |  |
Dividends payable | 4,270 us-gaap_DividendsPayableCurrentAndNoncurrent |  |
(Decrease) increase to noncontrolling interest due to (deconsolidation) consolidation of sponsored investment products, net | (47,165)us-gaap_MinorityInterestPeriodIncreaseDecrease | 1,477 us-gaap_MinorityInterestPeriodIncreaseDecrease |
Preferred stock conversion | $ 0 vrts_ConvertiblePreferredStockSharesIssuedUponConversionValue |  | $ 35,217 vrts_ConvertiblePreferredStockSharesIssuedUponConversionValue

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- Definition Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3521-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3574-108585 + Details
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- Definition Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 24 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3521-108585 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3574-108585 + Details
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- 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 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 2: 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 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 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 6: 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 7: 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 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 19 -Article 5 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph 20 -Article 9 + Details
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- Definition The amount of cash paid for commissions during the current period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 25 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3536-108585 + Details
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