Final CNS AR 2020 - Flipbook - Page 34
Item 6. Selected Financial Data
The selected consolidated financial data, together with other information presented below, should be read in conjunction
with our consolidated financial statements and the notes to those statements and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” included in this Annual Report on Form 10-K.
Selected Consolidated Financial and Other Data
(in thousands, except per share data)
As of and For the Years Ended December 31,
2020
Consolidated Statements of Operations
Total revenue . . . . . . . . . . . . . . . . . . . . . . . . . . $ 427,536
Total expenses . . . . . . . . . . . . . . . . . . . . . . . . . . 332,479
Operating income . . . . . . . . . . . . . . . . . . . . . . . .
95,057
Total non-operating income (loss) . . . . . . . . . .
(1,670)
Income before provision for income taxes . . . . . .
93,387
Provision for income taxes . . . . . . . . . . . . . . . . . .
18,222
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
75,165
Less: Net (income) loss attributable to
redeemable noncontrolling interests . . . . . . . . .
1,419
Net income attributable to common
stockholders . . . . . . . . . . . . . . . . . . . . . . . . . $ 76,584
Earnings per share attributable to common
stockholders
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
1.60
1.57
Cash dividends declared per share
Quarterly . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
1.56
Special . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
1.00
Consolidated Statements of Financial Condition
Cash and cash equivalents . . . . . . . . . . . . . . . . $ 41,232
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . 154,978
Total assets . . . . . . . . . . . . . . . . . . . . . . . . . .
348,453
Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . 123,549
Redeemable noncontrolling interests . . . . . .
50,665
Total stockholders’ equity . . . . . . . . . . . . . . . 174,239
Other Data (in millions)
Assets under management (AUM) by investment vehicle: (3)
Institutional accounts . . . . . . . . . . . . . . . . . . . . $ 33,255
Open-end funds . . . . . . . . . . . . . . . . . . . . . . . . .
35,160
Closed-end funds . . . . . . . . . . . . . . . . . . . . . . .
11,493
Total AUM . . . . . . . . . . . . . . . . . . . . . . . . . . $ 79,908
2019
2018
2017
$ 410,830
250,696
160,134
27,415
187,549
40,565
146,984
$ 381,111
234,073
147,038
(3,259)
143,779
34,257
109,522
$ 378,696
223,950
154,746
5,654
160,400
67,914
92,486
(12,363)
4,374
2016
(1)
(1)
(2)
$ 351,497
215,986
135,511
7,892
143,403
50,593
92,810
(547)
(1)
(1)
(2)
126
$ 134,621
$ 113,896
$ 91,939
$ 92,936
$
$
2.85
2.79
$
$
2.43
2.40
$
$
1.98
1.96
$
$
2.02
2.00
$
$
1.44
2.00
$
$
1.32
2.50
$
$
1.12
1.00
$
$
1.04
0.50
$ 101,352
155,213
402,419
135,304
53,412
213,703
$ 92,733
224,932
481,039
144,201
114,192
222,646
$ 193,452
108,106
410,125
86,794
47,795
275,536
$ 183,234
54,544
333,728
67,061
853
265,814
$ 31,813
30,725
9,644
$ 72,182
$ 27,148
22,295
8,410
$ 57,853
$ 30,896
25,188
9,406
$ 65,490
$ 29,848
21,177
8,963
$ 59,988
_________________________
(1) Amounts have been recast to reflect the Company’s adoption of the revenue recognition accounting standard on January 1, 2018.
(2) Amounts for 2017 and 2016 reflect the higher U.S. federal statutory rate before it was lowered to 21.0% due to the Tax Cuts and Jobs
Act.
(3) Amounts prior to 2019 have been recast to include model-based portfolios which were previously classified as assets under advisement.
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