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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue        
Total revenue $ 188,656 $ 214,980 $ 574,963 $ 393,819
Expenses        
Personnel compensation and benefits 47,375 55,556 144,051 125,599
Distribution and other asset-based expenses 39,123 57,202 135,613 89,151
General and administrative 13,196 17,654 38,373 31,828
Depreciation and amortization 3,936 7,768 12,152 18,253
Change in value of consideration payable for acquisition of business 2,000   1,800 (14)
Acquisition-related costs 1,148 16,386 1,056 21,950
Restructuring and integration costs 1,285 4,841 4,888 6,629
Total operating expenses 108,063 159,407 337,933 293,396
Income from operations 80,593 55,573 237,030 100,423
Other (expense) income        
Interest income and other (expense) income 1,120 2,742 (86) 5,231
Interest expense and other financing costs (8,187) (16,856) (29,305) (26,000)
Loss on debt extinguishment (758) (7,409) (1,675) (7,409)
Total other expense, net (7,825) (21,523) (31,066) (28,178)
Income before income taxes 72,768 34,050 205,964 72,245
Income tax expense (17,027) (8,058) (48,337) (17,343)
Net income $ 55,741 $ 25,992 $ 157,627 $ 54,902
Earnings per share of common stock        
Basic $ 0.82 $ 0.38 $ 2.33 $ 0.81
Diluted $ 0.76 $ 0.35 $ 2.14 $ 0.75
Weighted average number of shares outstanding        
Basic 67,743 67,724 67,785 67,610
Diluted 73,437 73,671 73,703 73,300
Dividends declared per share of common stock $ 0.06 $ 0.05 $ 0.16 $ 0.05
Investment Management Fees        
Revenue        
Total revenue $ 137,240 $ 155,406 $ 414,153 $ 307,859
Fund Administration and Distribution Fees        
Revenue        
Total revenue $ 51,416 $ 59,574 $ 160,810 $ 85,960