v3.26.1
Consolidated Statements of Operations (unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Revenues:    
Total revenue $ 622,183 $ 551,344
Expenses:    
Subadvisory, distribution and other asset management costs 56,746 47,532
Software royalties and other information processing costs 9,932 9,081
Compensation, benefits and other personnel 206,315 190,784
Stock-based compensation 14,496 14,138
Consulting, outsourcing and professional fees 54,403 56,001
Data processing and computer related 44,873 39,319
Facilities, supplies and other costs 20,322 18,755
Amortization 18,354 10,710
Depreciation 7,256 7,927
Total expenses 432,697 394,247
Income from operations 189,486 157,097
Net (loss) gain from investments (369) 493
Interest and dividend income 7,162 10,221
Interest expense (473) (185)
Other income 450 0
Equity in earnings of unconsolidated affiliates 32,476 28,747
Net gain from consolidated variable interest entities 2,079 0
Income before income taxes 230,811 196,373
Income taxes 54,024 44,856
Net income 176,787 151,517
Less: Net income attributable to non-controlling interests 2,300 0
Net income $ 174,487 $ 151,517
Basic earnings per common share (in USD per share) $ 1.43 $ 1.20
Shares used to compute basic earnings per share (in shares) 121,659 126,561
Diluted earnings per common share (in USD per share) $ 1.40 $ 1.17
Shares used to compute diluted earnings per share (in shares) 124,494 129,450
Asset management, administration and distribution fees    
Revenues:    
Total revenue $ 497,984 $ 432,143
Information processing and software servicing fees    
Revenues:    
Total revenue $ 124,199 $ 119,201