XML 68 R57.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Debt (Details) |  | 3 Months Ended | 6 Months Ended
--- | --- | --- | ---
Jun. 01, 2017 USD ($) | Jun. 30, 2017 USD ($) | May 31, 2017 USD ($) | Jun. 30, 2017 USD ($)
Credit Facility |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Leverage ratio |  | 2.5 |  | 2.5
Leverage ratio, scheduled to be reduced to over next 18 months |  | 1.75 |  | 1.75
Credit Facility | LIBOR |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate |  |  |  | 3.75%
Credit Facility | Alternate base rate |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate |  |  |  | 2.75%
Credit Facility | Minimum | LIBOR |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate |  |  |  | 3.50%
Credit Facility | Minimum | Alternate base rate |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate |  |  |  | 2.50%
Credit Facility | Maximum | LIBOR |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate |  |  |  | 3.75%
Credit Facility | Maximum | Alternate base rate |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate |  |  |  | 2.75%
Credit Facility | Term loan |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Borrowing capacity | $ 260,000,000.0 |  |  |
Debt term | 7 years |  |  |
Delayed draw fee |  |  | $ 1,200,000 |
Amount outstanding |  | $ 260,000,000 |  | $ 260,000,000
Annual principal payment, percentage of principal |  |  |  | 1.00%
Amount required to be prepaid, percentage of excess cash flow |  |  |  | 50.00%
Premium due in connection with a prepayment in connection with a repricing transaction within the six-month period following the closing of the Credit Agreement |  |  |  | 1.00%
Credit Facility | Term loan | Leverage ratio below 1.00 to 1.00 |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Amount required to be prepaid, percentage of excess cash flow |  |  |  | 25.00%
Credit Facility | Term loan | Leverage ratio below 0.50 to 1.00 |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Amount required to be prepaid, percentage of excess cash flow |  |  |  | 0.00%
Credit Facility | Term loan | LIBOR |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate, floor | 0.75% |  |  | 0.75%
Basis spread on variable interest rate | 3.75% |  |  |
Credit Facility | Term loan | LIBOR | Net leverage levels of less than 1.0 |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate | 3.50% |  |  |
Credit Facility | Revolving credit facility |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Borrowing capacity | $ 100,000,000.0 |  |  |
Debt term | 5 years |  |  |
Amount outstanding |  | 0 |  | $ 0
Potential additional borrowing capacity | $ 75,000,000.0 |  |  |
Pro forma leverage ratio used for calculation of potential increase in borrowing capacity | 1.75 |  |  |
Commitment fee percentage |  |  |  | 0.50%
Credit Facility | Revolving credit facility | LIBOR |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Basis spread on variable interest rate, floor | 0.00% |  |  | 0.00%
Basis spread on variable interest rate | 3.75% |  |  |
Credit Facility | Revolving credit facility | Minimum |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Commitment fee percentage |  |  |  | 0.375%
Credit Facility | Revolving credit facility | Maximum |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Commitment fee percentage |  |  |  | 0.50%
Previous Credit Facility | Revolving credit facility |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Write off of unamortized deferred financing costs |  | $ 1,100,000 |  |
RidgeWorth | Credit Facility | Term loan |  |  |  |
Line of Credit Facility [Line Items] |  |  |  |
Proceeds from line of credit | $ 260,000,000 |  |  |

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

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_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The fee, expressed as a percentage of the line of credit facility, for available but unused credit capacity under the credit facility. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityUnusedCapacityCommitmentFeePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 14 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=98514028&loc=d3e3255-108585 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.(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
Name: | us-gaap_ProceedsFromLinesOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. + 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 210.5-03.8) -URI http://asc.fasb.org/extlink&oid=63488584&loc=d3e20235-122688 + Details
Name: | us-gaap_WriteOffOfDeferredDebtIssuanceCost
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Debt Instrument, Amount Required To Be Prepaid, Percent of Excess Cash Flow + References No definition available. + Details
Name: | vrts_DebtInstrumentAmountRequiredToBePrepaidPercentofExcessCashFlow
Namespace Prefix: | vrts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Annual Principal Payment, Percentage of Principal + References No definition available. + Details
Name: | vrts_DebtInstrumentAnnualPrincipalPaymentPercentageofPrincipal
Namespace Prefix: | vrts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Basis Spread on Variable Rate, Floor + References No definition available. + Details
Name: | vrts_DebtInstrumentBasisSpreadonVariableRateFloor
Namespace Prefix: | vrts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Debt Instrument, Delayed Draw Fee + References No definition available. + Details
Name: | vrts_DebtInstrumentDelayedDrawFee
Namespace Prefix: | vrts_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Debt Instrument, Premium Due If Prepaid In Connection With Repricing Transaction Within Six Months Of Credit Agreement Closing + References No definition available. + Details
Name: | vrts_DebtInstrumentPremiumDueIfPrepaidInConnectionWithRepricingTransactionWithinSixMonthsOfCreditAgreementClosing
Namespace Prefix: | vrts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line Of Credit Facility, Potential Additional Borrowing Capacity + References No definition available. + Details
Name: | vrts_LineOfCreditFacilityPotentialAdditionalBorrowingCapacity
Namespace Prefix: | vrts_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Line Of Credit Facility, Potential Increase In Borrowing Capacity, Pro Forma Leverage Ratio Used For Calculation + References No definition available. + Details
Name: | vrts_LineOfCreditFacilityPotentialIncreaseInBorrowingCapacityProFormaLeverageRatioUsedForCalculation
Namespace Prefix: | vrts_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line of Credit Facility, Covenant Terms, Leverage Ratio + References No definition available. + Details
Name: | vrts_LineofCreditFacilityCovenantTermsLeverageRatio
Namespace Prefix: | vrts_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line of Credit Facility, Covenant Terms, Leverage Ratio Scheduled To Reduce To Over Next 18 Months + References No definition available. + Details
Name: | vrts_LineofCreditFacilityCovenantTermsLeverageRatioScheduledToReduceToOverNext18Months
Namespace Prefix: | vrts_
Data Type: | xbrli:pureItemType
Balance Type: | na
Period Type: | instant

X
- Details
Name: | us-gaap_DebtInstrumentAxis=vrts_CreditFacility2017Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_BaseRateMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=vrts_TermLoanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | vrts_LeverageRatioScenarioAxis=vrts_LeverageRatioBelow1.00Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | vrts_LeverageRatioScenarioAxis=vrts_LeverageRatioBelow0.50Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | vrts_InterestRateScenarioAxis=vrts_InterestRateScenarioOneMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_CreditFacilityAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=vrts_SeniorUnsecuredRevolvingCreditFacility2016Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_BusinessAcquisitionAxis=vrts_RidgeWorthCapitalManagementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |