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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue        
Total revenue $ 225,628 $ 209,688 $ 661,106 $ 615,234
Expenses        
Personnel compensation and benefits 43,243 54,501 158,357 167,043
Distribution and other asset-based expenses 36,828 38,160 109,565 113,158
General and administrative 14,029 13,947 42,426 39,585
Depreciation and amortization 7,510 12,333 22,662 33,663
Change in value of consideration payable for acquisition of business (1,600) 10,336 2,400 19,236
Acquisition-related costs 5,075 116 9,150 134
Restructuring and integration costs 180 246 777 275
Total operating expenses 105,265 129,639 345,337 373,094
Income from operations 120,363 80,049 315,769 242,140
Other income (expense)        
Interest income and other income 3,551 1,452 8,673 4,967
Interest expense and other financing costs (16,414) (15,580) (49,179) (44,721)
Loss on debt extinguishment 0 0 (100) 0
Total other expense, net (12,863) (14,128) (40,606) (39,754)
Income before income taxes 107,500 65,921 275,163 202,386
Income tax expense (25,517) (13,914) (63,238) (44,435)
Net income $ 81,983 $ 52,007 $ 211,925 $ 157,951
Earnings per share of common stock        
Basic $ 1.26 $ 0.79 $ 3.28 $ 2.38
Diluted $ 1.24 $ 0.77 $ 3.21 $ 2.30
Weighted average number of shares outstanding        
Basic 64,875 65,774 64,667 66,504
Diluted 66,057 67,676 66,044 68,636
Dividends declared per share of common stock $ 0.41 $ 0.32 $ 1.115 $ 0.96
Investment Management Fees        
Revenue        
Total revenue $ 177,809 $ 163,953 $ 520,757 $ 480,199
Fund Administration and Distribution Fees        
Revenue        
Total revenue $ 47,819 $ 45,735 $ 140,349 $ 135,035