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v2.4.1.9

Consolidated Statements of Operations (USD $) In Thousands, except Per Share data, unless otherwise specified | 12 Months Ended
--- | ---
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012
Revenues |  |  |
Investment management fees | $ 300,663 us-gaap_InvestmentAdvisoryFees | $ 260,557 us-gaap_InvestmentAdvisoryFees | $ 187,875 us-gaap_InvestmentAdvisoryFees
Distribution and service fees | 91,950 us-gaap_DistributionAndServicingFees | 78,965 us-gaap_DistributionAndServicingFees | 56,866 us-gaap_DistributionAndServicingFees
Administration and transfer agent fees | 56,016 us-gaap_FeesAndCommissionsTransferAgent | 48,185 us-gaap_FeesAndCommissionsTransferAgent | 33,779 us-gaap_FeesAndCommissionsTransferAgent
Other income and fees | 1,969 us-gaap_RevenueOtherFinancialServices | 1,508 us-gaap_RevenueOtherFinancialServices | 1,566 us-gaap_RevenueOtherFinancialServices
Total revenues | 450,598 us-gaap_Revenues | 389,215 us-gaap_Revenues | 280,086 us-gaap_Revenues
Operating Expenses |  |  |
Employment expenses | 139,809 us-gaap_LaborAndRelatedExpense | 131,768 us-gaap_LaborAndRelatedExpense | 105,571 us-gaap_LaborAndRelatedExpense
Distribution and administration expenses | 123,665 us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees | 97,786 us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees | 72,210 us-gaap_ExpenseRelatedToDistributionOrServicingAndUnderwritingFees
Other operating expenses | 46,531 us-gaap_OtherCostAndExpenseOperating | 38,321 us-gaap_OtherCostAndExpenseOperating | 34,017 us-gaap_OtherCostAndExpenseOperating
Other operating expenses of consolidated sponsored investment products | 3,038 vrts_OtherOperatingExpensesOfConsolidatedSponsoredInvestmentProducts | 798 vrts_OtherOperatingExpensesOfConsolidatedSponsoredInvestmentProducts | 315 vrts_OtherOperatingExpensesOfConsolidatedSponsoredInvestmentProducts
Restructuring and severance | 294 us-gaap_RestructuringCharges | 203 us-gaap_RestructuringCharges | 1,597 us-gaap_RestructuringCharges
Depreciation and other amortization | 2,763 us-gaap_Depreciation | 2,422 us-gaap_Depreciation | 1,810 us-gaap_Depreciation
Amortization expense | 3,778 vrts_AmortizationOfIntangibleAssetsAndContingentAmortization | 4,413 vrts_AmortizationOfIntangibleAssetsAndContingentAmortization | 4,121 vrts_AmortizationOfIntangibleAssetsAndContingentAmortization
Total operating expenses | 319,878 us-gaap_OperatingExpenses | 275,711 us-gaap_OperatingExpenses | 219,641 us-gaap_OperatingExpenses
Operating Income | 130,720 us-gaap_OperatingIncomeLoss | 113,504 us-gaap_OperatingIncomeLoss | 60,445 us-gaap_OperatingIncomeLoss
Other Income (Expense) |  |  |
Realized and unrealized gain on investments, net | 914 us-gaap_GainLossOnInvestments | 2,350 us-gaap_GainLossOnInvestments | 1,891 us-gaap_GainLossOnInvestments
Realized and unrealized (loss) gain on investments of consolidated sponsored investment products, net | (4,648)vrts_RealizedAndUnrealizedGainLossOnInvestmentsOfConsolidatedSponsoredInvestmentProductsNet | 3,515 vrts_RealizedAndUnrealizedGainLossOnInvestmentsOfConsolidatedSponsoredInvestmentProductsNet | 2,072 vrts_RealizedAndUnrealizedGainLossOnInvestmentsOfConsolidatedSponsoredInvestmentProductsNet
Other income (expense), net | 891 us-gaap_OtherNonoperatingIncomeExpense | 74 us-gaap_OtherNonoperatingIncomeExpense | (38)us-gaap_OtherNonoperatingIncomeExpense
Total other (expense) income, net | (2,843)us-gaap_NonoperatingIncomeExpense | 5,939 us-gaap_NonoperatingIncomeExpense | 3,925 us-gaap_NonoperatingIncomeExpense
Interest Income (Expense) |  |  |
Interest expense | (537)us-gaap_InterestExpense | (782)us-gaap_InterestExpense | (854)us-gaap_InterestExpense
Interest and dividend income | 1,706 us-gaap_InvestmentIncomeInterestAndDividend | 664 us-gaap_InvestmentIncomeInterestAndDividend | 710 us-gaap_InvestmentIncomeInterestAndDividend
Interest and dividend income of investments of consolidated sponsored investment products | 7,268 vrts_InterestDividendIncomeOfInvestmentsOfConsolidatedSponsoredInvestmentProducts | 2,583 vrts_InterestDividendIncomeOfInvestmentsOfConsolidatedSponsoredInvestmentProducts | 577 vrts_InterestDividendIncomeOfInvestmentsOfConsolidatedSponsoredInvestmentProducts
Total interest income, net | 8,437 us-gaap_InterestIncomeExpenseNet | 2,465 us-gaap_InterestIncomeExpenseNet | 433 us-gaap_InterestIncomeExpenseNet
Income Before Income Taxes | 136,314 us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 121,908 us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 64,803 us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Income tax expense | 39,349 us-gaap_IncomeTaxExpenseBenefit | 44,778 us-gaap_IncomeTaxExpenseBenefit | 27,030 us-gaap_IncomeTaxExpenseBenefit
Net Income | 96,965 us-gaap_NetIncomeLoss | 77,130 us-gaap_NetIncomeLoss | 37,773 us-gaap_NetIncomeLoss
Noncontrolling interests | 735 us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity | (1,940)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity | (101)us-gaap_IncomeLossFromContinuingOperationsAttributableToNoncontrollingEntity
Allocation of earnings to preferred stockholders | 0 us-gaap_PreferredStockDividendsAndOtherAdjustments |  | (64)us-gaap_PreferredStockDividendsAndOtherAdjustments
Net Income Attributable to Common Stockholders | $ 97,700 us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic | $ 75,190 us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic | $ 37,608 us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic
Earnings per share-Basic | $ 10.75 us-gaap_EarningsPerShareBasic | $ 9.18 us-gaap_EarningsPerShareBasic | $ 4.87 us-gaap_EarningsPerShareBasic
Earnings per share-Diluted | $ 10.51 us-gaap_EarningsPerShareDiluted | $ 8.92 us-gaap_EarningsPerShareDiluted | $ 4.66 us-gaap_EarningsPerShareDiluted
Cash dividends declared per share | $ 1.35 us-gaap_CommonStockDividendsPerShareDeclared |  |
Weighted Average Shares Outstanding-Basic (in thousands) | 9,091 us-gaap_WeightedAverageNumberOfSharesOutstandingBasic | 8,188 us-gaap_WeightedAverageNumberOfSharesOutstandingBasic | 7,727 us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Weighted Average Shares Outstanding-Diluted (in thousands) | 9,292 us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 8,433 us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 8,073 us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding

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