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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Sep. 30, 2011
Revenues:        
Investment management fees $ 138,364 $ 133,495 $ 407,477 $ 404,123
Underwriting and distribution fees 122,819 115,786 367,659 353,928
Shareholder service fees 32,182 31,060 95,786 91,920
Total 293,365 280,341 870,922 849,971
Operating expenses:        
Underwriting and distribution 147,408 138,111 439,961 419,628
Compensation and related costs (including share-based compensation of $12,299, $11,473, $36,217 and $33,676, respectively) 42,343 36,105 128,432 116,618
General and administrative 15,774 20,979 57,172 54,920
Subadvisory fees 4,921 7,291 16,400 23,684
Depreciation 3,188 3,866 9,876 11,074
Total 213,634 206,352 651,841 625,924
Operating income 79,731 73,989 219,081 224,047
Investment and other income 2,632 (4,178) 7,906 (771)
Interest expense (2,826) (2,837) (8,477) (8,569)
Income from continuing operations before provision for income taxes 79,537 66,974 218,510 214,707
Provision for income taxes 27,421 27,603 78,332 81,871
Income from continuing operations 52,116 39,371 140,178 132,836
Income (loss) from discontinued operations, net of tax expense of $473, $358, $1,278 and $1,966, respectively (43,590) 463 (42,547) 2,601
Net income $ 8,526 $ 39,834 $ 97,631 $ 135,437
Net income per share, basic and diluted:        
Income from continuing operations (in dollars per share) $ 0.61 $ 0.46 $ 1.63 $ 1.55
Income (loss) from discontinued operations (in dollars per share) $ (0.51)   $ (0.49) $ 0.03
Net income (in dollars per share) $ 0.10 $ 0.46 $ 1.14 $ 1.58
Weighted average shares outstanding:        
Basic (in shares) 85,753 85,776 85,817 85,951
Diluted (in shares) 85,755 85,782 85,819 85,964