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v3.3.1.900

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013
Revenues |  |  |
Investment management fees | $ 264,865 | $ 300,663 | $ 260,557
Distribution and service fees | 67,066 | 91,950 | 78,965
Administration and transfer agent fees | 48,247 | 56,016 | 48,185
Other income and fees | 1,799 | 1,969 | 1,508
Total revenues | 381,977 | 450,598 | 389,215
Operating Expenses |  |  |
Employment expenses | 137,095 | 139,809 | 131,768
Distribution and other asset-based expenses | 89,731 | 123,665 | 97,786
Other operating expenses | 63,901 | 46,531 | 38,321
Restructuring and severance | 0 | 294 | 203
Depreciation and other amortization | 3,443 | 2,763 | 2,422
Amortization expense | 3,295 | 3,778 | 4,413
Total operating expenses | 301,599 | 319,878 | 275,711
Operating Income | 80,378 | 130,720 | 113,504
Other Income (Expense) |  |  |
Realized and unrealized (loss) gain on investments, net | (862) | 914 | 2,350
Other income, net | 898 | 891 | 74
Total other (expense) income, net | (26,650) | (2,843) | 5,939
Interest Income (Expense) |  |  |
Interest expense | (523) | (537) | (782)
Interest and dividend income | 1,261 | 1,706 | 664
Total interest income, net | 13,915 | 8,437 | 2,465
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 | $ 35,106 | $ 97,700 | $ 75,190
Earnings per share—Basic (in $ per share) | $ 3.99 | $ 10.75 | $ 9.18
Earnings per Share—Diluted (in $ per share) | 3.92 | 10.51 | 8.92
Cash Dividends Declared per Share (in $ per share) | $ 1.8 | $ 1.35 | $ 0
Weighted Average Shares Outstanding—Basic (in shares) | 8,797 | 9,091 | 8,188
Weighted Average Shares Outstanding—Diluted (in shares) | 8,960 | 9,292 | 8,433
Consolidated Sponsored Investment Products [Member] |  |  |
Operating Expenses |  |  |
Other operating expenses | $ 4,134 | $ 3,038 | $ 798
Other Income (Expense) |  |  |
Realized and unrealized (loss) gain on investments, net | (23,181) | (4,648) | 3,515
Interest Income (Expense) |  |  |
Interest and dividend income | 11,504 | 7,268 | 2,583
Consolidated Investment Product [Member] |  |  |
Other Income (Expense) |  |  |
Realized and unrealized (loss) gain on investments, net | (3,505) | 0 | 0
Interest Income (Expense) |  |  |
Interest and dividend income | $ 1,673 | $ 0 | $ 0

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