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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenues:        
Investment management fees $ 134,213 $ 138,985 $ 269,113 $ 270,629
Underwriting and distribution fees 139,944 137,354 277,434 270,117
Shareholder service fees 34,051 33,606 68,279 65,773
Total 308,208 309,945 614,826 606,519
Operating expenses:        
Underwriting and distribution 163,032 157,219 322,507 309,223
Compensation and related costs (including share-based compensation of $12,293, $12,960, $24,565 and $22,828, respectively) 42,973 42,092 88,376 82,567
General and administrative 25,095 19,500 44,419 37,131
Subadvisory fees 5,208 8,313 11,479 16,393
Depreciation 3,428 3,842 6,900 7,446
Total 239,736 230,966 473,681 452,760
Operating income 68,472 78,979 141,145 153,759
Investment and other income 1,272 2,452 5,328 3,455
Interest expense (2,825) (2,835) (5,652) (5,735)
Income before provision for income taxes 66,919 78,596 140,821 151,479
Provision for income taxes 25,201 28,626 51,716 55,876
Net income $ 41,718 $ 49,970 $ 89,105 $ 95,603
Net income per share:        
Basic (in dollars per share) $ 0.48 $ 0.58 $ 1.04 $ 1.11
Diluted (in dollars per share) $ 0.48 $ 0.58 $ 1.04 $ 1.11
Weighted average shares outstanding:        
Basic (in shares) 86,093 86,264 85,848 86,040
Diluted (in shares) 86,095 86,275 85,851 86,057