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v3.3.0.814

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014
Revenues |  |  |  |
Investment management fees | $ 64,891 | $ 78,960 | $ 204,254 | $ 225,289
Distribution and service fees | 15,587 | 23,671 | 52,820 | 70,049
Administration and transfer agent fees | 11,614 | 14,804 | 37,233 | 41,819
Other income and fees | 283 | 406 | 1,555 | 1,304
Total revenues | 92,375 | 117,841 | 295,862 | 338,461
Operating Expenses |  |  |  |
Employment expenses | 33,504 | 35,246 | 102,719 | 105,756
Distribution and other asset-based expenses | 21,717 | 29,180 | 69,900 | 96,139
Other operating expenses | 11,165 | 11,288 | 51,403 | 34,952
Restructuring and severance | 0 | 294 | 0 | 294
Depreciation and other amortization | 910 | 713 | 2,562 | 2,040
Amortization expense | 837 | 947 | 2,511 | 2,851
Total operating expenses | 69,253 | 78,914 | 231,990 | 244,406
Operating Income | 23,122 | 38,927 | 63,872 | 94,055
Other Income (Expense) |  |  |  |
Realized and unrealized (loss) gain on investments, net | (2,082) | (1,039) | (1,194) | 1,712
Other income, net | 141 | 233 | 823 | 573
Total other (expense) income, net | (20,281) | (6,136) | (19,363) | 3,435
Interest Income (Expense) |  |  |  |
Interest expense | (138) | (149) | (382) | (412)
Interest and dividend income | 324 | 326 | 906 | 1,053
Total interest income, net | 3,125 | 2,399 | 8,885 | 5,375
Income Before Income Taxes | 5,966 | 35,190 | 53,394 | 102,865
Income tax expense (benefit) | 9,669 | (1,805) | 28,360 | 24,311
Net (Loss) Income | (3,703) | 36,995 | 25,034 | 78,554
Noncontrolling interests | 3,054 | 345 | 3,436 | 267
Net (Loss) Income Attributable to Common Stockholders | $ (649) | $ 37,340 | $ 28,470 | $ 78,821
(Loss) Earnings per share—Basic (in $ per share) | $ (0.07) | $ 4.10 | $ 3.21 | $ 8.65
(Loss) Earnings per Share—Diluted (in $ per share) | (0.07) | 4.02 | 3.15 | 8.46
Cash Dividends Declared per Share (in $ per share) | $ 0.45 | $ 0.45 | $ 1.35 | $ 0.90
Weighted Average Shares Outstanding—Basic (in shares) | 8,775 | 9,096 | 8,876 | 9,115
Weighted Average Shares Outstanding—Diluted (in shares) | 8,775 | 9,279 | 9,039 | 9,322
Consolidated Sponsored Investment Products [Member] |  |  |  |
Operating Expenses |  |  |  |
Other operating expenses | $ 1,120 | $ 1,246 | $ 2,895 | $ 2,374
Other Income (Expense) |  |  |  |
Realized and unrealized (loss) gain on investments, net | (17,619) | (5,330) | (18,271) | 1,150
Interest Income (Expense) |  |  |  |
Interest and dividend income | 2,898 | 2,222 | 8,320 | 4,734
Consolidated Investment Product [Member] |  |  |  |
Other Income (Expense) |  |  |  |
Realized and unrealized (loss) gain on investments, net | (764) | 0 | (764) | 0
Other income, net | 43 | 0 | 43 | 0
Interest Income (Expense) |  |  |  |
Interest and dividend income | $ 41 | $ 0 | $ 41 | $ 0

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- 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 + Details
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in 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 16 -URI http://asc.fasb.org/extlink&oid=7655603&loc=d3e1505-109256 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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