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Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Revenues:        
Revenues $ 409,586 $ 404,830 $ 810,406 $ 810,428
Expenses:        
Subadvisory, distribution and other asset management costs 46,177 45,209 89,982 90,414
Software royalties and other information processing costs 7,393 7,977 15,521 16,695
Compensation, benefits and other personnel 125,999 127,375 256,334 251,652
Stock-based compensation 5,064 5,323 10,102 10,518
Consulting, outsourcing and professional fees 45,330 50,441 95,536 99,148
Data processing and computer related 22,184 21,133 43,176 41,724
Facilities, supplies and other costs 17,100 17,783 35,845 35,396
Amortization 12,781 12,161 25,460 24,015
Depreciation 7,422 7,138 14,753 14,260
Total expenses 289,450 294,540 586,709 583,822
Income from operations 120,136 110,290 223,697 226,606
Net gain (loss) from investments 231 (139) 1,510 (549)
Interest and dividend income 4,313 3,162 8,570 5,664
Interest expense (166) (132) (323) (389)
Equity in earnings of unconsolidated affiliate 37,832 41,073 75,149 81,680
Income before income taxes 162,346 154,254 308,603 313,012
Income taxes 35,806 32,577 68,082 51,497
Net income $ 126,540 $ 121,677 $ 240,521 $ 261,515
Basic earnings per common share (in USD per share) $ 0.83 $ 0.77 $ 1.58 $ 1.66
Shares used to compute basic earnings per share (in shares) 151,863 157,542 152,587 157,488
Diluted earnings per common share (in USD per share) $ 0.82 $ 0.75 $ 1.54 $ 1.61
Shares used to compute diluted earnings per share (in shares) 155,165 162,225 155,853 162,825
Dividends declared per common share (in USD per share) $ 0.33 $ 0.30 $ 0.33 $ 0.30
Asset management, administration and distribution fees        
Revenues:        
Revenues $ 324,925 $ 316,508 $ 638,869 $ 632,717
Information processing and software servicing fees        
Revenues:        
Revenues $ 84,661 $ 88,322 $ 171,537 $ 177,711