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v3.4.0.3

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended
--- | ---
Mar. 31, 2016 | Mar. 31, 2015
Revenues |  |
Investment management fees | $ 57,644 | $ 70,496
Distribution and service fees | 12,478 | 19,598
Administration and transfer agent fees | 9,998 | 13,042
Other income and fees | 175 | 695
Total revenues | 80,295 | 103,831
Operating Expenses |  |
Employment expenses | 35,977 | 35,622
Distribution and other asset-based expenses | 18,101 | 24,507
Other operating expenses | 10,765 | 16,726
Depreciation and other amortization | 862 | 779
Amortization expense | 651 | 837
Total operating expenses | 67,545 | 79,289
Operating Income | 12,750 | 24,542
Other Income (Expense) |  |
Realized and unrealized (loss) gain on investments, net | (658) | 545
Other income, net | 228 | 435
Total other income, net | 2,100 | 3,570
Interest Income (Expense) |  |
Interest expense | (132) | (123)
Interest and dividend income | 273 | 280
Total interest income, net | 4,576 | 2,481
Income Before Income Taxes | 19,426 | 30,593
Income tax expense | 7,556 | 10,868
Net Income | 11,870 | 19,725
Noncontrolling interests | 493 | (383)
Net Income Attributable to Common Stockholders | $ 12,363 | $ 19,342
Earnings per share—Basic (in $ per share) | $ 1.48 | $ 2.16
Earnings per Share—Diluted (in $ per share) | 1.45 | 2.11
Cash Dividends Declared per Share (in $ per share) | $ 0.45 | $ 0.45
Weighted Average Shares Outstanding—Basic (in shares) | 8,344 | 8,964
Weighted Average Shares Outstanding—Diluted (in shares) | 8,506 | 9,151
Consolidated Sponsored Investment Products [Member] |  |
Operating Expenses |  |
Other operating expenses | $ 1,133 | $ 818
Other Income (Expense) |  |
Realized and unrealized (loss) gain on investments, net | 295 | 2,590
Interest Income (Expense) |  |
Interest and dividend income | 2,961 | 2,324
Consolidated Investment Product [Member] |  |
Operating Expenses |  |
Other operating expenses | 56 | 0
Other Income (Expense) |  |
Realized and unrealized (loss) gain on investments, net | 2,235 | 0
Interest Income (Expense) |  |
Interest and dividend income | $ 1,474 | $ 0

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