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Consolidation | 12 Months Ended
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Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Consolidation | Consolidation As of December 31, 2015, 13 products were consolidated by the Company including, 12 consolidated sponsored investment products and one consolidated investment product. As of December 31, 2014, 12 products were consolidated by the Company, comprised entirely of sponsored investment products. The following tables reflect the impact of the consolidated sponsored investment products and consolidated investment product in the Consolidated Balance Sheets as of December 31, 2015 and December 31, 2014, respectively:
As of December 31, 2015 |  |  |  |  |  |  |  |  |
| Balance Before Consolidation of Investment Products |  | Consolidated Sponsored Investment Products |  | Consolidated Investment Products |  | Eliminations and Adjustments (a) |  | Balances as Reported in Consolidated Balance Sheet
($ in thousands) |  |  |  |  |  |  |  |  |
Total cash | $ | 87,574 |  |  | $ | 11,866 |  |  | $ | 8,297 |  |  | $ | — |  |  | $ | 107,737 |
Total investments | 349,147 |  |  | 323,335 |  |  | 199,485 |  |  | (292,409 | ) |  | 579,558 |
All other assets | 162,673 |  |  | 8,549 |  |  | 1,467 |  |  | (255 | ) |  | 172,434 |
Total assets | $ | 599,394 |  |  | $ | 343,750 |  |  | $ | 209,249 |  |  | $ | (292,664 | ) |  | $ | 859,729 |
Total liabilities | $ | 89,937 |  |  | $ | 15,642 |  |  | $ | 171,084 |  |  | $ | (255 | ) |  | $ | 276,408 |
Redeemable noncontrolling interest | — |  |  | — |  |  | — |  |  | 73,864 |  |  | 73,864 |
Equity attributable to stockholders of the Company | 509,624 |  |  | 328,108 |  |  | 38,165 |  |  | (366,273 | ) |  | 509,624 |
Non-redeemable noncontrolling interest | (167 | ) |  | — |  |  | — |  |  | — |  |  | (167 | )
Total liabilities and equity | $ | 599,394 |  |  | $ | 343,750 |  |  | $ | 209,249 |  |  | $ | (292,664 | ) |  | $ | 859,729 |
As of December 31, 2014 |  |  |  |  |  |  |  |  |
| Balance Before Consolidation of Investment Products |  | Consolidated Sponsored Investment Products |  | Consolidated Investment Products |  | Eliminations and Adjustments (a) |  | Balances as Reported in Consolidated Balance Sheet
($ in thousands) |  |  |  |  |  |  |  |  |
Total cash | $ | 202,847 |  |  | $ | 8,687 |  |  | $ | — |  |  | $ | — |  |  | $ | 211,534 |
Total investments | 279,863 |  |  | 236,652 |  |  | — |  |  | (216,415 | ) |  | 300,100 |
All other assets | 180,436 |  |  | 6,960 |  |  | — |  |  | (257 | ) |  | 187,139 |
Total assets | $ | 663,146 |  |  | $ | 252,299 |  |  | $ | — |  |  | $ | (216,672 | ) |  | $ | 698,773 |
Total liabilities | $ | 99,794 |  |  | $ | 12,813 |  |  | $ | — |  |  | $ | (257 | ) |  | $ | 112,350 |
Redeemable noncontrolling interest | — |  |  | — |  |  | — |  |  | 23,071 |  |  | 23,071 |
Equity attributable to stockholders of the Company | 563,542 |  |  | 239,486 |  |  | — |  |  | (239,486 | ) |  | 563,542 |
Non-redeemable noncontrolling interest | (190 | ) |  | — |  |  | — |  |  | — |  |  | (190 | )
Total liabilities and equity | $ | 663,146 |  |  | $ | 252,299 |  |  | $ | — |  |  | $ | (216,672 | ) |  | $ | 698,773 |
(a) | Adjustments include the elimination of intercompany transactions between the Company, its consolidated sponsored investment products and consolidated investment product, primarily the elimination of the investments, consolidated sponsored investment product equity, consolidated investment product equity and recording of any noncontrolling interest.
The following table reflects the impact of the consolidated sponsored investment products in the Consolidated Statement of Operations for the years ended December 31, 2015, 2014 and 2013, respectively:
For the Year Ended December 31, 2015 |  |  |  |  |  |  |  |  |
| Balance Before Consolidation of Investment Products |  | Consolidated Sponsored Investment Products |  | Consolidated Investment Products |  | Eliminations and Adjustments (a) |  | Balances as Reported in Consolidated Statement of Operations
($ in thousands) |  |  |  |  |  |  |  |  |
Total operating revenues | $ | 383,581 |  |  | $ | — |  |  | $ | — |  |  | $ | (1,604 | ) |  | $ | 381,977 |
Total operating expenses | 297,465 |  |  | 5,738 |  |  | — |  |  | (1,604 | ) |  | 301,599 |
Operating income (loss) | 86,116 |  |  | (5,738 | ) |  | — |  |  | — |  |  | 80,378 |
Total other non-operating expense | (14,214 | ) |  | (11,677 | ) |  | (1,832 | ) |  | 14,988 |  |  | (12,735 | )
Income (loss) before income tax expense | 71,902 |  |  | (17,415 | ) |  | (1,832 | ) |  | 14,988 |  |  | 67,643 |
Income tax expense | 36,972 |  |  | — |  |  | — |  |  | — |  |  | 36,972 |
Net income (loss) | 34,930 |  |  | (17,415 | ) |  | (1,832 | ) |  | 14,988 |  |  | 30,671 |
Noncontrolling interests | 176 |  |  | — |  |  | — |  |  | 4,259 |  |  | 4,435 |
Net income (loss) attributable to common stockholders | $ | 35,106 |  |  | $ | (17,415 | ) |  | $ | (1,832 | ) |  | $ | 19,247 |  |  | $ | 35,106 |
For the Year Ended December 31, 2014 |  |  |  |  |  |  |  |  |
| Balance Before Consolidation of Investment Products |  | Consolidated Sponsored Investment Products |  | Consolidated Investment Products |  | Eliminations and Adjustments (a) |  | Balances as Reported in Consolidated Statement of Operations
($ in thousands) |  |  |  |  |  |  |  |  |
Total operating revenues | $ | 451,259 |  |  | $ | — |  |  | $ | — |  |  | $ | (661 | ) |  | $ | 450,598 |
Total operating expenses | 316,840 |  |  | 3,699 |  |  | — |  |  | (661 | ) |  | 319,878 |
Operating income (loss) | 134,419 |  |  | (3,699 | ) |  | — |  |  | — |  |  | 130,720 |
Total other non-operating income (expense) | 2,502 |  |  | 2,619 |  |  | — |  |  | 473 |  |  | 5,594 |
Income (loss) before income tax expense | 136,921 |  |  | (1,080 | ) |  | — |  |  | 473 |  |  | 136,314 |
Income taxes | 39,349 |  |  | — |  |  | — |  |  | — |  |  | 39,349 |
Net income (loss) | 97,572 |  |  | (1,080 | ) |  | — |  |  | 473 |  |  | 96,965 |
Noncontrolling interests | 128 |  |  | — |  |  | — |  |  | 607 |  |  | 735 |
Net income (loss) attributable to common stockholders | $ | 97,700 |  |  | $ | (1,080 | ) |  | $ | — |  |  | $ | 1,080 |  |  | $ | 97,700 |
For the Year Ended December 31, 2013 |  |  |  |  |  |  |  |  |
| Balance Before Consolidation of Investment Products |  | Consolidated Sponsored Investment Products |  | Consolidated Investment Products |  | Eliminations and Adjustments (a) |  | Balances as Reported in Consolidated Statement of Operations
($ in thousands) |  |  |  |  |  |  |  |  |
Total operating revenues | $ | 389,202 |  |  | $ | — |  |  | $ | — |  |  | $ | 13 |  |  | $ | 389,215 |
Total operating expenses | 274,913 |  |  | 785 |  |  | — |  |  | 13 |  |  | 275,711 |
Operating income (loss) | 114,289 |  |  | (785 | ) |  | — |  |  | — |  |  | 113,504 |
Total other non-operating income | 5,620 |  |  | 6,098 |  |  | — |  |  | (3,314 | ) |  | 8,404 |
Income (loss) before income tax expense | 119,909 |  |  | 5,313 |  |  | — |  |  | (3,314 | ) |  | 121,908 |
Income tax expense | 44,778 |  |  | — |  |  | — |  |  | — |  |  | 44,778 |
Net income (loss) | 75,131 |  |  | 5,313 |  |  | — |  |  | (3,314 | ) |  | 77,130 |
Noncontrolling interests | 59 |  |  | — |  |  | — |  |  | (1,999 | ) |  | (1,940 | )
Net income (loss) attributable to common stockholders | $ | 75,190 |  |  | $ | 5,313 |  |  | $ | — |  |  | $ | (5,313 | ) |  | $ | 75,190 |
(a) | Adjustments include the elimination of intercompany transactions between the Company, its consolidated sponsored investment products and consolidated investment product, primarily the elimination of the investments, consolidated sponsored investment product equity, consolidated investment product equity and recording of any noncontrolling interest.

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- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
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