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v3.10.0.1

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017
Revenues |  |  |  |
Revenues | $ 152,210 | $ 123,675 | $ 414,170 | $ 297,583
Operating Expenses |  |  |  |
Employment expenses | 63,269 | 54,159 | 178,833 | 136,792
Distribution and other asset-based expenses | 25,386 | 20,552 | 71,398 | 51,639
Other operating expenses | 20,350 | 17,733 | 56,340 | 51,195
Restructuring and severance | 0 | 1,584 | 0 | 10,478
Depreciation and other amortization | 1,189 | 1,038 | 3,304 | 2,478
Amortization expense | 7,541 | 5,063 | 17,601 | 7,109
Total operating expenses | 118,264 | 106,886 | 330,299 | 267,563
Operating Income (Loss) | 33,946 | 16,789 | 83,871 | 30,020
Other Income (Expense) |  |  |  |
Other income (expense), net | 549 | 436 | 2,323 | 1,129
Total other income (expense), net | (4,560) | 15,268 | (908) | 20,565
Interest Income (Expense) |  |  |  |
Total interest income (expense), net | 5,198 | (1,908) | 14,665 | (350)
Income (Loss) Before Income Taxes | 34,584 | 30,149 | 97,628 | 50,235
Income tax expense (benefit) | 6,653 | 9,626 | 22,641 | 15,939
Net Income (Loss) | 27,931 | 20,523 | 74,987 | 34,296
Noncontrolling interests | (933) | (1,731) | (1,619) | (2,782)
Net Income (Loss) Attributable to Stockholders | 26,998 | 18,792 | 73,368 | 31,514
Preferred stockholder dividends | (2,085) | (2,084) | (6,253) | (6,252)
Net Income (Loss) Attributable to Common Stockholders | $ 24,913 | $ 16,708 | $ 67,115 | $ 25,262
Earnings (Loss) per share—Basic (in $ per share) | $ 3.47 | $ 2.32 | $ 9.33 | $ 3.64
Earnings (Loss) per Share—Diluted (in $ per share) | 3.19 | 2.21 | 8.67 | 3.52
Cash Dividends Declared per Preferred Share (in $ per share) | 1.81 | 1.81 | 5.44 | 5.44
Cash Dividends Declared per Common Share (in $ per share) | $ 0.55 | $ 0.45 | $ 1.45 | $ 1.35
Weighted Average Shares Outstanding—Basic (in shares) | 7,175 | 7,212 | 7,195 | 6,942
Weighted Average Shares Outstanding—Diluted (in shares) | 8,456 | 8,492 | 8,463 | 7,168
Consolidated investment products |  |  |  |
Operating Expenses |  |  |  |
Total operating expenses | $ 529 | $ 6,757 | $ 2,823 | $ 7,872
Other Income (Expense) |  |  |  |
Realized and unrealized gain (loss) on investments, net | (4,735) | 13,465 | (4,255) | 16,485
Interest Income (Expense) |  |  |  |
Interest expense | (16,959) | (16,249) | (46,786) | (22,101)
Interest and dividend income | 26,596 | 17,778 | 71,678 | 28,536
Consolidated entity excluding consolidated investment products |  |  |  |
Other Income (Expense) |  |  |  |
Realized and unrealized gain (loss) on investments, net | (374) | 1,367 | 1,024 | 2,951
Interest Income (Expense) |  |  |  |
Interest expense | (5,155) | (4,116) | (13,482) | (8,098)
Interest and dividend income | 716 | 679 | 3,255 | 1,313
Investment management fees |  |  |  |
Revenues |  |  |  |
Revenues | 121,713 | 97,295 | 325,357 | 230,628
Distribution and service fees |  |  |  |
Revenues |  |  |  |
Revenues | 13,730 | 11,482 | 39,886 | 32,704
Administration and shareholder service fees |  |  |  |
Revenues |  |  |  |
Revenues | 16,567 | 14,699 | 48,272 | 33,156
Other income and fees |  |  |  |
Revenues |  |  |  |
Revenues | $ 200 | $ 199 | $ 655 | $ 1,095

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