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Consolidated Statements of Income - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Investment management fees $ 185,914 $ 193,624 $ 368,019 $ 381,661
Underwriting and distribution fees 171,508 169,001 338,486 334,268
Shareholder service fees 36,568 38,009 72,943 75,121
Total 393,990 400,634 779,448 791,050
Operating expenses:        
Underwriting and distribution 195,762 195,608 391,182 390,559
Compensation and related costs (including share-based compensation of $11,333, $14,593, $23,806 and $27,679, respectively) 52,829 48,589 106,324 98,598
General and administrative 27,897 27,183 53,575 50,939
Subadvisory fees 2,394 2,069 4,781 3,946
Depreciation 4,064 3,541 8,098 6,790
Total 282,946 276,990 563,960 550,832
Operating income 111,044 123,644 215,488 240,218
Investment and other income 9 6,100 3,981 10,000
Interest expense (2,765) (2,755) (5,531) (5,510)
Income before provision for income taxes 108,288 126,989 213,938 244,708
Provision for income taxes 40,843 44,001 79,380 86,856
Net income $ 67,445 $ 82,988 $ 134,558 $ 157,852
Net income per share, basic and diluted:        
Net income per share, basic and diluted (in dollars per share) $ 0.80 $ 0.98 $ 1.61 $ 1.86
Weighted average shares outstanding, basic and diluted:        
Weighted average shares outstanding, basic and diluted (in shares) 84,079 85,073 83,831 85,046