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Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Revenues $ 563,246 $ 552,235 $ 425,607
Operating Expenses      
Employment expenses 240,521 238,501 191,394
Distribution and other asset-based expenses 82,099 92,441 71,987
Restructuring and severance 2,302 87 10,580
Depreciation expense 4,992 4,597 3,497
Amortization expense 30,244 25,142 12,173
Total operating expenses 438,536 439,136 367,572
Operating Income (Loss) 124,710 113,099 58,035
Other Income (Expense)      
Other income (expense), net 2,411 3,289 1,635
Total other income (expense), net 8,253 (23,180) 18,161
Interest Income (Expense)      
Total interest income (expense), net 7,722 19,122 4,233
Income (Loss) Before Income Taxes 140,685 109,041 80,429
Income tax expense (benefit) 35,177 32,961 40,490
Net Income (Loss) 105,508 76,080 39,939
Noncontrolling interests (9,859) (551) (2,927)
Net Income (Loss) Attributable to Stockholders 95,649 75,529 37,012
Preferred stockholder dividends (8,337) (8,337) (8,336)
Net Income (Loss) Attributable to Common Stockholders $ 87,312 $ 67,192 $ 28,676
Earnings (Loss) per Share—Basic (in $ per share) $ 12.54 $ 9.37 $ 4.09
Earnings (Loss) per Share—Diluted (in $ per share) $ 11.74 $ 8.86 $ 3.96
Weighted Average Shares Outstanding—Basic (in shares) 6,963 7,174 7,013
Weighted Average Shares Outstanding—Diluted (in shares) 8,149 8,527 7,247
Consolidated entity excluding consolidated investment products      
Operating Expenses      
Other operating expenses $ 74,363 $ 74,853 $ 69,410
Other Income (Expense)      
Realized and unrealized gain (loss) on investments, net 7,044 (5,217) 2,973
Interest Income (Expense)      
Interest expense (19,473) (19,445) (12,007)
Interest and dividend income 3,844 4,999 2,160
Consolidated investment products      
Operating Expenses      
Other operating expenses 4,015 3,515 8,531
Other Income (Expense)      
Realized and unrealized gain (loss) on investments, net (1,202) (21,252) 13,553
Interest Income (Expense)      
Interest expense (92,005) (64,788) (35,243)
Interest and dividend income 115,356 98,356 49,323
Total investment management fees      
Revenues      
Revenues 461,477 437,021 331,075
Distribution and service fees      
Revenues      
Revenues 40,898 50,715 44,322
Administration and shareholder service fees      
Revenues      
Revenues 59,884 63,614 48,996
Other income and fees      
Revenues      
Revenues $ 987 $ 885 $ 1,214