Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands |
12 Months Ended |
Dec. 31, 2019 |
Dec. 31, 2018 |
Dec. 31, 2017 |
| Revenue |
|
|
|
| Total revenue |
$ 612,373
|
$ 413,412
|
$ 409,629
|
| Expenses |
|
|
|
| Personnel compensation and benefits |
179,809
|
145,880
|
144,111
|
| Distribution and other asset-based expenses |
146,622
|
94,680
|
103,439
|
| General and administrative |
46,568
|
30,005
|
33,996
|
| Depreciation and amortization |
23,873
|
23,277
|
29,910
|
| Change in value of consideration payable for acquisition of business |
19,886
|
(37)
|
(294)
|
| Acquisition-related costs |
22,317
|
4,346
|
2,094
|
| Restructuring and integration costs |
8,678
|
742
|
6,205
|
| Total operating expenses |
447,753
|
298,893
|
319,461
|
| Income from operations |
164,620
|
114,519
|
90,168
|
| Other income (expense) |
|
|
|
| Interest income and other income (expense) |
6,829
|
(2,856)
|
(2,913)
|
| Interest expense and other financing costs |
(40,901)
|
(20,694)
|
(48,467)
|
| Loss on debt extinguishment |
(9,860)
|
(6,058)
|
(330)
|
| Total other expense, net |
(43,932)
|
(29,608)
|
(51,710)
|
| Income before income taxes |
120,688
|
84,911
|
38,458
|
| Income tax expense |
(28,197)
|
(21,207)
|
(12,632)
|
| Net income |
$ 92,491
|
$ 63,704
|
$ 25,826
|
| Earnings per share of common stock |
|
|
|
| Basic |
$ 1.37
|
$ 0.96
|
$ 0.47
|
| Diluted |
$ 1.26
|
$ 0.90
|
$ 0.43
|
| Weighted average number of shares outstanding |
|
|
|
| Basic |
67,616
|
66,295
|
54,931
|
| Diluted |
73,466
|
70,511
|
59,577
|
| Dividends declared per share of common stock |
$ 0.10
|
|
$ 2.42
|
| Investment Management Fees |
|
|
|
| Revenue |
|
|
|
| Total revenue |
$ 466,802
|
$ 352,683
|
$ 343,811
|
| Fund Administration and Distribution Fees |
|
|
|
| Revenue |
|
|
|
| Total revenue |
$ 145,571
|
$ 60,729
|
$ 65,818
|