XML 97 R84.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Consolidation - Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended
--- | --- | ---
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues | $ 86,115 | $ 92,375 | $ 99,656 | $ 103,831 | $ 112,137 | $ 117,841 | $ 112,749 | $ 107,871 | $ 381,977 | $ 450,598 | $ 389,215
Total operating expenses |  |  |  |  |  |  |  |  | 301,599 | 319,878 | 275,711
Operating Income | 16,506 | 23,122 | 16,208 | 24,542 | 36,665 | 38,927 | 22,502 | 32,626 | 80,378 | 130,720 | 113,504
Total other non-operating expense |  |  |  |  |  |  |  |  | (12,735) | 5,594 | 8,404
Income Before Income Taxes |  |  |  |  |  |  |  |  | 67,643 | 136,314 | 121,908
Income tax expense |  |  |  |  |  |  |  |  | 36,972 | 39,349 | 44,778
Net Income |  |  |  |  |  |  |  |  | 30,671 | 96,965 | 77,130
Noncontrolling interests |  |  |  |  |  |  |  |  | 4,435 | 735 | (1,940)
Net Income Attributable to Common Stockholders | $ 6,636 | $ (649) | $ 9,777 | $ 19,342 | $ 18,879 | $ 37,340 | $ 19,543 | $ 21,938 | 35,106 | 97,700 | 75,190
Reportable Legal Entities [Member] | Balance Before Consolidation of Investment Products [Member] |  |  |  |  |  |  |  |  |  |  |
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  |  |  |  |  |  |  |  | 383,581 | 451,259 | 389,202
Total operating expenses |  |  |  |  |  |  |  |  | 297,465 | 316,840 | 274,913
Operating Income |  |  |  |  |  |  |  |  | 86,116 | 134,419 | 114,289
Total other non-operating expense |  |  |  |  |  |  |  |  | (14,214) | 2,502 | 5,620
Income Before Income Taxes |  |  |  |  |  |  |  |  | 71,902 | 136,921 | 119,909
Income tax expense |  |  |  |  |  |  |  |  | 36,972 | 39,349 | 44,778
Net Income |  |  |  |  |  |  |  |  | 34,930 | 97,572 | 75,131
Noncontrolling interests |  |  |  |  |  |  |  |  | 176 | 128 | 59
Net Income Attributable to Common Stockholders |  |  |  |  |  |  |  |  | 35,106 | 97,700 | 75,190
Reportable Legal Entities [Member] | Consolidated Sponsored Investment Products [Member] |  |  |  |  |  |  |  |  |  |  |
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  |  |  |  |  |  |  |  | 0 | 0 | 0
Total operating expenses |  |  |  |  |  |  |  |  | 5,738 | 3,699 | 785
Operating Income |  |  |  |  |  |  |  |  | (5,738) | (3,699) | (785)
Total other non-operating expense |  |  |  |  |  |  |  |  | (11,677) | 2,619 | 6,098
Income Before Income Taxes |  |  |  |  |  |  |  |  | (17,415) | (1,080) | 5,313
Income tax expense |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net Income |  |  |  |  |  |  |  |  | (17,415) | (1,080) | 5,313
Noncontrolling interests |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net Income Attributable to Common Stockholders |  |  |  |  |  |  |  |  | (17,415) | (1,080) | 5,313
Reportable Legal Entities [Member] | Consolidated Investment Product [Member] |  |  |  |  |  |  |  |  |  |  |
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  |  |  |  |  |  |  |  | 0 | 0 | 0
Total operating expenses |  |  |  |  |  |  |  |  | 0 | 0 | 0
Operating Income |  |  |  |  |  |  |  |  | 0 | 0 | 0
Total other non-operating expense |  |  |  |  |  |  |  |  | (1,832) | 0 | 0
Income Before Income Taxes |  |  |  |  |  |  |  |  | (1,832) | 0 | 0
Income tax expense |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net Income |  |  |  |  |  |  |  |  | (1,832) | 0 | 0
Noncontrolling interests |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net Income Attributable to Common Stockholders |  |  |  |  |  |  |  |  | (1,832) | 0 | 0
Eliminations and Adjustments [Member] |  |  |  |  |  |  |  |  |  |  |
Condensed Income Statements, Captions [Line Items] |  |  |  |  |  |  |  |  |  |  |
Total operating revenues |  |  |  |  |  |  |  |  | (1,604) | (661) | 13
Total operating expenses |  |  |  |  |  |  |  |  | (1,604) | (661) | 13
Operating Income |  |  |  |  |  |  |  |  | 0 | 0 | 0
Total other non-operating expense |  |  |  |  |  |  |  |  | 14,988 | 473 | (3,314)
Income Before Income Taxes |  |  |  |  |  |  |  |  | 14,988 | 473 | (3,314)
Income tax expense |  |  |  |  |  |  |  |  | 0 | 0 | 0
Net Income |  |  |  |  |  |  |  |  | 14,988 | 473 | (3,314)
Noncontrolling interests |  |  |  |  |  |  |  |  | 4,259 | 607 | (1,999)
Net Income Attributable to Common Stockholders |  |  |  |  |  |  |  |  | $ 19,247 | $ 1,080 | $ (5,313)

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + 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=51664549&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=51664549&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 FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 20 -Section 25 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51673353&loc=d3e41242-110953 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 3: 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 740 -SubTopic 10 -Section 50 -Paragraph 9 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 Reference 2: 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 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 + Details
Name: | us-gaap_IncomeTaxExpenseBenefit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
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 consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. + 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=51664549&loc=SL4569616-111683 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4K -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591552-111686 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1A -Subparagraph (a),(c) -URI http://asc.fasb.org/extlink&oid=18733093&loc=SL4573702-111684 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 55 -Paragraph 4J -URI http://asc.fasb.org/extlink&oid=35736750&loc=SL4591551-111686 + Details
Name: | us-gaap_ProfitLoss
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
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 + 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

X
- Details
Name: | us-gaap_ConsolidationItemsAxis=us-gaap_ReportableLegalEntitiesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=us-gaap_ParentCompanyMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=us-gaap_SubsidiariesMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=us-gaap_VariableInterestEntityPrimaryBeneficiaryAggregatedDisclosureMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_ConsolidationItemsAxis=us-gaap_ConsolidationEliminationsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |