Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
|||
| Revenue | ||||||
| Total revenue | $ 435,361 | $ 351,212 | $ 823,350 | $ 570,814 | ||
| Expenses | ||||||
| Personnel compensation and benefits | 125,500 | 108,918 | 231,355 | 165,054 | ||
| Distribution and other asset-based expenses | 68,590 | 62,039 | 136,000 | 97,516 | ||
| General and administrative | 22,915 | 23,381 | 43,530 | 37,709 | ||
| Depreciation and amortization | 20,585 | 21,794 | 41,161 | 29,226 | ||
| Change in value of consideration payable for acquisition of business | 2,041 | 1,092 | 5,578 | 4,498 | ||
| Acquisition-related costs | (653) | 25,780 | 7,005 | 34,530 | ||
| Restructuring and integration costs | 2,634 | 13,994 | 5,787 | 15,159 | ||
| Total operating expenses | 241,612 | 256,998 | 470,416 | 383,692 | ||
| Income from operations | 193,749 | 94,214 | 352,934 | 187,122 | ||
| Other income (expense) | ||||||
| Interest income and other income | 7,721 | 6,006 | 10,477 | 6,710 | ||
| Interest expense and other financing costs | (12,192) | (13,234) | (26,273) | (26,445) | ||
| Loss on debt extinguishment | (2,028) | 0 | (2,028) | 0 | ||
| Total other income (expense), net | (6,499) | (7,228) | (17,824) | (19,735) | ||
| Income before income taxes | 187,250 | 86,986 | 335,110 | 167,387 | ||
| Income tax expense | (47,846) | (28,252) | (83,566) | (46,678) | ||
| Net income | 139,404 | 58,734 | 251,544 | 120,709 | ||
| Preferred stock dividends | (10,018) | (9,673) | (19,788) | (9,673) | ||
| Net income attributable to preferred stockholders | (23,969) | (2,985) | (40,743) | (5,334) | ||
| Net income attributable to common stockholders | [1] | $ 105,417 | $ 46,076 | $ 191,013 | $ 105,702 | |
| Earnings per share of common stock | ||||||
| Basic | $ 1.7 | $ 0.69 | $ 3.04 | $ 1.61 | ||
| Diluted | $ 1.68 | $ 0.68 | $ 3.01 | $ 1.59 | ||
| Weighted average number of shares outstanding | ||||||
| Basic | 62,151 | 67,239 | 62,889 | 65,484 | ||
| Diluted | 62,782 | 67,980 | 63,593 | 66,358 | ||
| Dividends declared per share of common stock | $ 0.5 | $ 0.49 | $ 0.99 | $ 0.96 | ||
| Investment Management Fees | ||||||
| Revenue | ||||||
| Total revenue | $ 362,243 | $ 282,306 | $ 678,612 | $ 455,607 | ||
| Fund Administration and Distribution Fees | ||||||
| Revenue | ||||||
| Total revenue | $ 73,118 | $ 68,906 | $ 144,738 | $ 115,207 | ||
| ||||||
| X | ||||||||||
- Definition Amount of expense for acquisition-related cost incurred to effect business combination. Includes, but is not limited to, finder's fee; advisory, legal, accounting, valuation, and other professional and consulting fees; and general administrative cost, including cost of maintaining internal acquisition department. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Expense related to distribution, servicing and underwriting fees. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition This element represents interest incurred for borrowed money which was used to produce goods or render services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Discloses the amount charged against the accrued restructuring reserves, or earnings if not previously accrued, during the period for the specified type of restructuring cost. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Amount of expense for salary and wage arising from service rendered by nonofficer and officer employees. Excludes allocated cost, labor-related nonsalary expense, and direct and overhead labor cost included in cost of good and service sold. No definition available.
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Represents the change in value of consideration payable for acquisition of business. No definition available.
|
| X | ||||||||||
- Definition Net income attributable to preferred stockholders. No definition available.
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|