Consolidated Statements Of Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | ||
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Revenues: | |||
Asset management, administration and distribution fees | $ 948,932us-gaap_InvestmentAdvisoryManagementAndAdministrativeFees | $ 831,720us-gaap_InvestmentAdvisoryManagementAndAdministrativeFees | $ 723,630us-gaap_InvestmentAdvisoryManagementAndAdministrativeFees |
Information processing and software servicing fees | 285,463seic_InformationProcessingAndSoftwareServiceFees | 261,691seic_InformationProcessingAndSoftwareServiceFees | 236,190seic_InformationProcessingAndSoftwareServiceFees |
Transaction-based and trade execution fees | 31,610seic_TransactionBasedAndTradeExecutionFees | 32,721seic_TransactionBasedAndTradeExecutionFees | 32,702seic_TransactionBasedAndTradeExecutionFees |
Total revenues | 1,266,005us-gaap_Revenues | 1,126,132us-gaap_Revenues | 992,522us-gaap_Revenues |
Expenses: | |||
Subadvisory, distribution and other asset management costs | 149,791seic_SubadvisoryDistributionandOtherAssetManagementCosts | 121,989seic_SubadvisoryDistributionandOtherAssetManagementCosts | 106,048seic_SubadvisoryDistributionandOtherAssetManagementCosts |
Software royalties and other information processing costs | 33,522seic_SoftwareRoyaltiesandOtherInformationProcessingCosts | 31,255seic_SoftwareRoyaltiesandOtherInformationProcessingCosts | 26,722seic_SoftwareRoyaltiesandOtherInformationProcessingCosts |
Brokerage commissions | 23,002seic_BrokerageCommissions | 24,649seic_BrokerageCommissions | 23,889seic_BrokerageCommissions |
Compensation, benefits and other personnel | 376,873seic_CompensationBenefitsandOtherPersonnel | 357,453seic_CompensationBenefitsandOtherPersonnel | 335,296seic_CompensationBenefitsandOtherPersonnel |
Stock-based compensation | 13,463us-gaap_AllocatedShareBasedCompensationExpense | 37,865us-gaap_AllocatedShareBasedCompensationExpense | 15,736us-gaap_AllocatedShareBasedCompensationExpense |
Consulting, outsourcing and professional fees | 136,818us-gaap_ProfessionalFees | 131,399us-gaap_ProfessionalFees | 109,828us-gaap_ProfessionalFees |
Data processing and computer related | 52,512us-gaap_InformationTechnologyAndDataProcessing | 51,401us-gaap_InformationTechnologyAndDataProcessing | 46,617us-gaap_InformationTechnologyAndDataProcessing |
Facilities, supplies and other costs | 66,113us-gaap_OccupancyNet | 64,613us-gaap_OccupancyNet | 60,976us-gaap_OccupancyNet |
Amortization | 38,679us-gaap_AmortizationOfIntangibleAssets | 34,602us-gaap_AmortizationOfIntangibleAssets | 33,258us-gaap_AmortizationOfIntangibleAssets |
Depreciation | 22,448us-gaap_DepreciationNonproduction | 22,497us-gaap_DepreciationNonproduction | 22,586us-gaap_DepreciationNonproduction |
Total expenses | 913,221us-gaap_CostsAndExpenses | 877,723us-gaap_CostsAndExpenses | 780,956us-gaap_CostsAndExpenses |
Income from operations | 352,784us-gaap_OperatingIncomeLoss | 248,409us-gaap_OperatingIncomeLoss | 211,566us-gaap_OperatingIncomeLoss |
Net gain from investments | 614us-gaap_GainLossOnInvestments | 659us-gaap_GainLossOnInvestments | 14,067us-gaap_GainLossOnInvestments |
Interest and dividend income | 3,354us-gaap_InvestmentIncomeInterestAndDividend | 3,248us-gaap_InvestmentIncomeInterestAndDividend | 5,696us-gaap_InvestmentIncomeInterestAndDividend |
Interest expense | (458)us-gaap_InterestExpense | (535)us-gaap_InterestExpense | (504)us-gaap_InterestExpense |
Equity in earnings of unconsolidated affiliates | 127,786us-gaap_IncomeLossFromEquityMethodInvestments | 118,076us-gaap_IncomeLossFromEquityMethodInvestments | 98,671us-gaap_IncomeLossFromEquityMethodInvestments |
Gain on sale of subsidiary | 5,582us-gaap_GainOrLossOnSaleOfStockInSubsidiary | 22,112us-gaap_GainOrLossOnSaleOfStockInSubsidiary | 0us-gaap_GainOrLossOnSaleOfStockInSubsidiary |
Other income | 0us-gaap_OtherNonoperatingIncomeExpense | 43,429us-gaap_OtherNonoperatingIncomeExpense | 0us-gaap_OtherNonoperatingIncomeExpense |
Income before income taxes | 489,662us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 435,398us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest | 329,496us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest |
Income taxes | 170,949us-gaap_IncomeTaxExpenseBenefit | 146,924us-gaap_IncomeTaxExpenseBenefit | 121,462us-gaap_IncomeTaxExpenseBenefit |
Net income | 318,713us-gaap_ProfitLoss | 288,474us-gaap_ProfitLoss | 208,034us-gaap_ProfitLoss |
Less: Net income attributable to the noncontrolling interest | 0us-gaap_NetIncomeLossAttributableToNoncontrollingInterest | (350)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest | (1,186)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest |
Net income attributable to SEI Investments Company | $ 318,713us-gaap_NetIncomeLoss | $ 288,124us-gaap_NetIncomeLoss | $ 206,848us-gaap_NetIncomeLoss |
Basic earnings per common share | $ 1.89us-gaap_EarningsPerShareBasic | $ 1.68us-gaap_EarningsPerShareBasic | $ 1.19us-gaap_EarningsPerShareBasic |
Shares used to compute basic earnings per share | 168,246us-gaap_WeightedAverageNumberOfSharesIssuedBasic | 171,561us-gaap_WeightedAverageNumberOfSharesIssuedBasic | 174,295us-gaap_WeightedAverageNumberOfSharesIssuedBasic |
Diluted earnings per common share | $ 1.85us-gaap_EarningsPerShareDiluted | $ 1.64us-gaap_EarningsPerShareDiluted | $ 1.18us-gaap_EarningsPerShareDiluted |
Shares used to compute diluted earnings per share | 172,565us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 175,718us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding | 175,872us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
Dividends declared per common share | $ 0.46us-gaap_CommonStockDividendsPerShareDeclared | $ 0.42us-gaap_CommonStockDividendsPerShareDeclared | $ 0.63us-gaap_CommonStockDividendsPerShareDeclared |
X | ||||||||||
- Definition
Fees for transaction-based trade execution commissions and soft dollar commissions. No definition available.
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- Definition
The aggregate amount of expenditures for salaries, wages, incentive compensation, and other employee benefits such as postretirement benefit expense. Excludes stock-based compensation expense. No definition available.
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- Definition
Revenue recognized in the period from application and business process outsourcing services and transaction-based services delivered to banks, trust institutions and other wealth management firms, such as investment advisors, utilizing the company's proprietary software systems. Revenues are earned as monthly fees from contracted services including software licenses, information processing, and investment operations. Investment processing revenues may also be earned as a percentage of assets under management and administration or from contracted, project-oriented services related to client implementations. No definition available.
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- Definition
Costs for royalty fees paid to pricing vendors and software providers for systems used in the company's operations. These costs are either based upon the types of securities in client accounts or based upon other contractual terms for usage of the software. No definition available.
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- Definition
Sub-advisory fees for mutual funds. Sub-advisory fees that the fund's adviser pays for out of the management fee, which it receives from the fund. Also includes distribution fees paid to brokers and other related investment management costs associated with the company's other types of investment products. No definition available.
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- Definition
Revenue recognized from trade execution services provided to clients who are invested in the company's investment products (i.e. mutual funds, hedge funds, separate accounts, etc.). No definition available.
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- Definition
Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The expense recognized in the current period that allocates the cost of nonproduction tangible assets over their useful lives. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the net total realized and unrealized gain (loss) included in earnings for the period as a result of selling or holding marketable securities categorized as trading, available-for-sale, or held-to-maturity, including the unrealized holding gain (loss) of held-to-maturity securities transferred to the trading security category and the cumulative unrealized gain (loss) which was included in other comprehensive income (a separate component of shareholders' equity) for available-for-sale securities transferred to trading securities during the period. Additionally, this item would include any gains (losses) realized during the period from the sale of investments accounted for under the cost method of accounting and losses recognized for other than temporary impairments (OTTI) of the subject investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of gain (loss) on sale or disposal of equity in securities of subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the income or loss from continuing operations attributable to the economic entity which may also be defined as revenue less expenses from ongoing operations, after income or loss from equity method investments, but before income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expenses incurred in the period for information technology and data processing products and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue from providing investment advisory, asset management and administrative services, including, but not limited to, distribution and shareholder services, accounting, tax, legal, regulatory filing, share registration, and shareholder correspondence activities. No definition available.
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- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income and dividend income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding. Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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