CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands |
12 Months Ended |
Dec. 31, 2021 |
Dec. 31, 2020 |
| Revenues: |
|
|
| Total revenues |
$ 301,126
|
$ 259,726
|
| Expenses: |
|
|
| Compensation |
118,186
|
102,347
|
| Management fee |
5,552
|
5,376
|
| Distribution costs |
30,276
|
28,474
|
| Other operating expenses |
29,692
|
23,920
|
| Total expenses |
183,706
|
160,117
|
| Operating income |
117,420
|
99,609
|
| Non-operating income / (loss) |
|
|
| Gain/(Loss) from investments, net |
269
|
(8,695)
|
| Interest and dividend income |
550
|
826
|
| Interest expense |
(2,919)
|
(2,620)
|
| Shareholder-designated charitable contribution |
(11,279)
|
(5,436)
|
| Total non-operating loss |
(13,379)
|
(15,925)
|
| Income before income taxes |
104,041
|
83,684
|
| Provision for income taxes |
30,842
|
24,991
|
| Net income |
$ 73,199
|
$ 58,693
|
| Earning per share: |
|
|
| Basic (in dollars per share) |
$ 2.79
|
$ 2.21
|
| Diluted (in dollars per share) |
$ 2.73
|
$ 2.20
|
| Weighted average shares outstanding: |
|
|
| Basic (in shares) |
26,267
|
26,571
|
| Diluted (in shares) |
26,809
|
26,680
|
| Investment Advisory and Incentive Fees [Member] |
|
|
| Revenues: |
|
|
| Total revenues |
$ 274,531
|
$ 233,628
|
| Distribution Fees and Other Income [Member] |
|
|
| Revenues: |
|
|
| Total revenues |
$ 26,595
|
$ 26,098
|