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CONDENSED CONSOLIDATED STATEMENTS OF INCOME UNAUDITED - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Total revenues $ 57,559 $ 76,407 $ 127,126 $ 150,743
Expenses:        
Compensation 25,516 30,216 54,766 60,563
Management fee 2,060 4,709 3,725 6,158
Distribution costs 6,634 8,605 14,264 17,275
Other operating expenses 4,586 6,117 10,288 11,374
Total expenses 38,796 49,647 83,043 95,370
Operating income 18,763 26,760 44,083 55,373
Non-operating income / (loss)        
Gain / (loss) from investments, net 309 5,264 (9,928) 3,369
Interest and dividend income 115 715 659 1,439
Interest expense (647) (655) (1,294) (1,310)
Total non-operating income / (loss) (223) 5,324 (10,563) 3,498
Income before income taxes 18,540 32,084 33,520 58,871
Provision for income taxes 7,250 8,067 10,985 14,962
Net income $ 11,290 $ 24,017 $ 22,535 $ 43,909
Earnings per share:        
Basic (in dollars per share) $ 0.42 $ 0.88 $ 0.85 $ 1.57
Diluted (in dollars per share) $ 0.42 $ 0.88 $ 0.84 $ 1.57
Weighted average shares outstanding:        
Basic (in shares) 26,629 27,357 26,658 27,929
Diluted (in shares) 26,656 27,413 26,713 27,973
Investment Advisory and Incentive Fees [Member]        
Revenues:        
Total revenues $ 51,470 $ 67,990 $ 113,743 $ 133,878
Distribution Fees and Other Income [Member]        
Revenues:        
Total revenues $ 6,089 $ 8,417 $ 13,383 $ 16,865