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v3.5.0.2

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015
Revenues |  |  |  |
Investment management fees | $ 58,192 | $ 68,867 | $ 115,836 | $ 139,363
Distribution and service fees | 12,167 | 17,635 | 24,645 | 37,233
Administration and transfer agent fees | 9,499 | 12,577 | 19,497 | 25,619
Other income and fees | 227 | 577 | 402 | 1,272
Total revenues | 80,085 | 99,656 | 160,380 | 203,487
Operating Expenses |  |  |  |
Employment expenses | 33,065 | 33,593 | 69,042 | 69,215
Distribution and other asset-based expenses | 17,432 | 23,676 | 35,533 | 48,183
Other operating expenses | 12,457 | 23,512 | 23,222 | 40,238
Restructuring and severance | 2,391 | 0 | 2,391 | 0
Depreciation and other amortization | 776 | 873 | 1,638 | 1,652
Amortization expense | 603 | 837 | 1,254 | 1,674
Total operating expenses | 71,342 | 83,448 | 138,887 | 162,737
Operating Income | 8,743 | 16,208 | 21,493 | 40,750
Other Income (Expense) |  |  |  |
Realized and unrealized gain on investments, net | 3,281 | 343 | 2,623 | 888
Other (expense) income, net | (15) | 247 | 213 | 682
Total other income (expense), net | 6,944 | (2,652) | 9,044 | 918
Interest Income (Expense) |  |  |  |
Interest and dividend income | 619 | 302 | 892 | 582
Total interest (expense) income, net | (900) | 3,279 | 3,676 | 5,760
Income Before Income Taxes | 14,787 | 16,835 | 34,213 | 47,428
Income tax expense | 6,087 | 7,823 | 13,643 | 18,691
Net Income | 8,700 | 9,012 | 20,570 | 28,737
Noncontrolling interests | (612) | 765 | (119) | 382
Net Income Attributable to Common Stockholders | $ 8,088 | $ 9,777 | $ 20,451 | $ 29,119
Earnings per share—Basic (in $ per share) | $ 0.99 | $ 1.10 | $ 2.48 | $ 3.26
Earnings per Share—Diluted (in $ per share) | 0.97 | 1.08 | 2.43 | 3.20
Cash Dividends Declared per Share (in $ per share) | $ 0.45 | $ 0.45 | $ 0.90 | $ 0.9
Weighted Average Shares Outstanding—Basic (in shares) | 8,170 | 8,889 | 8,257 | 8,927
Weighted Average Shares Outstanding—Diluted (in shares) | 8,314 | 9,037 | 8,410 | 9,094
Parent [Member] |  |  |  |
Interest Income (Expense) |  |  |  |
Interest expense | $ (129) | $ (121) | $ (261) | $ (244)
Consolidated Sponsored Investment Products [Member] |  |  |  |
Operating Expenses |  |  |  |
Other operating expenses | 777 | 957 | 1,910 | 1,775
Other Income (Expense) |  |  |  |
Realized and unrealized gain on investments, net | 3,097 | (3,242) | 3,392 | (652)
Interest Income (Expense) |  |  |  |
Interest and dividend income | 1,696 | 3,098 | 4,657 | 5,422
Consolidated Investment Product [Member] |  |  |  |
Operating Expenses |  |  |  |
Other operating expenses | 3,841 | 0 | 3,897 | 0
Other Income (Expense) |  |  |  |
Realized and unrealized gain on investments, net | 581 | 0 | 2,816 | 0
Interest Income (Expense) |  |  |  |
Interest expense | (5,668) | 0 | (6,400) | 0
Interest and dividend income | $ 2,582 | $ 0 | $ 4,788 | $ 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=63488584&loc=d3e20235-122688 + Details
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