Artisan Partners Asset Management Inc. APAM Income Statement

Artisan partners asset management inc. (APAM)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Revenues
Total revenues
202,836	208,302	202,961	200,727	186,962	191,543	212,788	212,296	212,008	210,721	204,556	196,273	184,074	181,481	184,081	180,768	174,529	192,008	198,313	211,573	203,575	206,016	212,406	208,487	201,792	197,593	178,092	161,933	148,223	137,036	128,083	120,786	119,673
Operating Expenses
Compensation and benefits
Salaries, incentive compensation and benefits
-	-	-	-	-	-	-	-	-	102,002	98,525	96,426	93,249	90,759	89,585	88,011	87,480	88,873	91,159	93,708	98,427	88,409	90,743	85,295	85,855	87,762	79,470	69,251	72,680	61,603	56,401	53,561	55,693
Pre-offering related compensation - share-based awards
-	-	-	-	-	-	-	-	-	0	0	6,339	6,339	6,339	6,786	7,136	7,819	10,475	10,532	10,650	10,414	12,430	12,431	16,166	23,637	23,637	23,441	23,851	333,231	15,775	56,023	-4,931	34,815
Pre-offering related compensation - other
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	143,035	193	32,065	13,747	8,148
Compensation and benefits
104,717	99,841	99,847	101,486	99,282	98,457	102,741	106,744	105,224	102,002	98,525	102,765	99,588	97,098	96,371	95,147	95,299	99,348	101,691	104,358	108,841	100,839	103,174	101,461	109,492	111,399	102,911	93,102	548,946	77,571	144,489	62,377	98,656
Distribution, servicing and marketing
5,548	6,002	5,929	5,836	5,403	6,139	6,566	6,847	7,009	7,351	7,603	7,292	7,374	7,874	8,080	8,404	8,158	9,616	10,612	11,736	11,662	12,784	13,281	11,893	11,174	11,282	10,093	8,847	8,176	7,566	7,216	7,111	7,097
Occupancy
5,189	5,197	5,214	5,341	7,567	5,136	5,337	4,302	3,925	3,745	3,579	3,660	3,506	3,388	3,321	3,186	3,181	3,425	3,113	2,954	3,012	2,990	2,811	2,768	2,686	2,695	2,609	2,556	2,616	2,442	2,294	2,207	2,308
Communication and technology
9,205	10,014	9,788	10,269	9,428	9,982	9,556	8,966	8,660	8,869	8,180	8,601	8,423	8,198	8,230	8,480	7,217	7,494	6,339	6,441	5,213	5,308	5,735	5,483	4,476	4,117	3,464	3,515	3,330	3,365	3,456	3,499	2,920
General and administrative
7,217	7,931	6,635	6,937	7,550	7,588	6,751	6,560	7,204	7,508	6,039	7,452	7,151	6,336	6,170	6,538	5,949	6,437	6,003	7,771	7,018	6,185	6,389	6,057	6,812	9,734	5,655	5,529	6,469	6,659	8,846	4,085	4,327
Total operating expenses
131,876	128,985	127,413	129,869	129,230	127,302	130,951	133,419	132,022	129,475	123,926	129,770	126,042	122,894	122,172	121,755	119,804	126,320	127,758	133,260	135,746	128,106	131,390	127,662	134,640	139,227	124,732	113,549	569,537	97,603	166,301	79,279	115,308
Total operating income
70,960	79,317	75,548	70,858	57,732	64,241	81,837	78,877	79,986	81,246	80,630	66,503	58,032	58,587	61,909	59,013	54,725	65,688	70,555	78,313	67,829	77,910	81,016	80,825	67,152	58,366	53,360	48,384	-421,314	39,433	-38,218	41,507	4,365
Non-operating income (expense)
Interest expense
2,685	2,692	2,760	2,827	2,775	2,778	2,823	2,846	2,776	2,778	2,870	2,920	2,881	2,890	2,924	2,934	2,905	2,878	2,971	2,978	2,879	2,882	2,905	2,902	2,883	2,883	2,885	2,891	3,210	3,296	2,914	2,552	2,680
Net investment gain (loss) of consolidated investment products
-12,924	5,076	619	2,043	2,346	-3,743	238	2,941	6,285	2,674	1,549	18	0	-	0	0	-	-	-	-	-	-	-557	-884	-598	1,555	5,499	-1,210	4,779	343	6,935	-955	2,494
Other net investment gain (loss)
-2,257	1,991	1,007	1,383	1,957	-402	1,386	660	454	852	178	0	93	345	862	31	15	-	14	416	-	-	405	0	-	-	-	-	-	-	-	-	-
Loss on interest rate swap
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17	250	-302
Loss on debt extinguishment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-827	-	-
Net gain on the valuation of contingent value rights
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,210	6,940	8,620	24,800	0	0	0	0
Net gain (loss) on the tax receivable agreements
-	-	19,557	-	-	-	-251	-	-	-	-501	-	-	-	-650	-	-	0	5,820	0	6,427	0	-284	4,471	0	-	0	0	-	-	-	-	-
Other non-operating income (expense)
-	-	-	-	-	-	-	-	-	-	-	173	60	-	-	-	-	-	-	4	5	-	217	5	-276	0	0	0	0	-	-682	-	-
Total non-operating income (expense)
-17,866	4,375	-20,691	599	1,528	-6,923	-948	755	3,963	290,933	-642	-2,729	-2,728	-2,545	-1,412	-2,903	-2,890	-2,872	-8,777	-2,558	-9,301	-795	-2,556	-8,252	-3,757	13,020	9,554	4,519	26,369	-2,213	2,495	-3,257	-488
Income before income taxes
53,094	83,692	54,857	71,457	59,260	57,318	80,889	79,632	83,949	372,179	79,988	63,774	55,304	56,042	60,497	56,110	51,835	62,816	61,778	75,755	58,528	77,115	78,460	72,573	63,395	71,386	62,914	52,903	-394,945	37,220	-35,723	38,250	3,877
Provision for income taxes
9,451	14,238	-7,355	11,484	9,442	9,154	14,172	11,987	12,285	371,339	21,479	14,941	12,749	12,222	15,110	12,634	11,517	13,562	11,630	16,497	5,082	13,636	15,335	8,650	11,208	9,244	6,824	5,873	4,449	225	243	247	332
Net income before noncontrolling interests
43,643	69,454	62,212	59,973	49,818	48,164	66,717	67,645	71,664	840	58,509	48,833	42,555	43,820	45,387	43,476	40,318	49,254	50,148	59,258	53,446	63,479	63,125	63,923	52,187	27,194	56,090	81,978	-399,394	36,995	-35,966	38,003	3,545
Net Income (Loss) Attributable to Noncontrolling Interest
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings
16,112	-	20,556	19,795	17,309	-	24,021	23,307	26,052	-	27,234	22,197	22,760	24,521	26,301	25,092	24,057	29,177	31,674	35,522	33,932	40,146	43,243	45,547	44,149	50,505	44,614	42,442	-407,123	36,652	-42,901	38,958	1,051
Less: Net income (loss) attributable to noncontrolling interests - consolidated investment products
-7,294	-	400	990	970	-	178	2,332	4,338	-	610	4	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Less: Net income (loss) attributable to noncontrolling interests - Launch Equity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-557	-884	-598	1,555	5,499	-1,210	4,779	343	6,935	-955	2,494
Net income attributable to Artisan Partners Asset Management Inc.
34,825	44,553	41,256	39,188	31,539	32,511	42,518	42,006	41,274	-27,493	30,665	26,632	19,795	19,299	19,086	18,384	16,261	20,077	18,474	23,736	19,514	21,294	20,439	19,260	8,636	7,132	5,977	8,748	2,950	0	0	0	0
Earnings (loss) per share
Basic and diluted earnings per share (in dollars per share)
0.53	0.81	0.71	0.66	0.47	0.60	0.77	0.72	0.75	-0.68	0.61	0.45	0.37	0.43	0.41	0.38	0.35	0.00	0.44	0.50	0.43	0.00	0.57	0.42	-2.29	-	0.42	0.57	-	-	-	-	-
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.35	0.57	-	-	-	-	-
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract]
Basic and diluted weighted average number of common share outstanding (in shares)
53,265	51,674	51,448	51,242	50,145	-	49,399	49,041	-	46,438	45,890	45,241	41,019	38,910	38,646	38,023	36,970	36,737	36,430	35,992	32,633	31,636	30,370	27,836	20,214	-	12,728	12,728	-	-	-	-	-
Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	15,294	15,294	-	-	-	-	-
Dividends declared per Class A common share (in dollars per share)
1.28	0.65	0.60	0.55	1.59	0.60	0.60	0.60	1.39	0.60	0.60	0.60	0.96	0.60	0.60	0.60	1.00	0.60	0.60	0.60	1.55	0.55	0.55	0.55	2.18	-	0.43	0.00	-	-	-	-	-
Management fees
Total revenues
199,904	208,268	202,806	196,400	186,864	190,946	212,738	210,029	211,966	210,711	204,540	195,951	184,074	181,256	184,006	180,138	174,378	191,813	198,233	210,426	203,229	205,301	212,225	208,333	201,792	195,100	178,092	161,916	148,214	135,763	128,044	120,770	119,377
Performance fees
Total revenues
2,932	34	155	4,327	98	597	50	2,267	42	10	16	322	0	225	75	630	151	195	80	1,147	346	715	181	154	0	2,493	0	17	9	1,273	39	16	296