$DHIL
DIAMOND HILL INVESTMENT GROUP INC Stock $dhil

$dhil Overview Financials Valuation SEC Filings Company Website

2016 Q1 Form 10-Q Financial Statement

#000090910816000157 Filed on April 27, 2016

Income Statement

Concept	2016 Q1	2015 Q1
Revenue	$30.46M	$29.32M
YoY Change	3.89%	26.43%
Cost Of Revenue	$880.0K	$740.0K
YoY Change	18.92%	10.45%
Gross Profit	$29.58M	$28.58M
YoY Change	3.5%	26.91%
Gross Profit Margin	97.12%	97.48%
Selling, General & Admin	$3.478M	$2.603M
YoY Change	33.61%	25.56%
% of Gross Profit	11.76%	9.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$162.4K	$106.5K
YoY Change	52.52%	39.89%
% of Gross Profit	0.55%	0.37%
Operating Expenses	$16.75M	$16.12M
YoY Change	3.9%	10.31%
Operating Profit	$13.70M	$13.19M
YoY Change	3.87%	53.92%
Interest Expense	$750.0K	$1.340M
YoY Change	-44.03%	157.69%
% of Operating Profit	5.47%	10.16%
Other Income/Expense, Net
YoY Change
Pretax Income	$14.45M	$14.54M
YoY Change	-0.6%	59.97%
Income Tax	$5.200M	$5.026M
% Of Pretax Income	35.98%	34.57%
Net Earnings	$9.266M	$9.513M
YoY Change	-2.6%	65.45%
Net Earnings / Revenue	30.42%	32.45%
Basic Earnings Per Share	$2.73	$2.96
Diluted Earnings Per Share	$2.73	$2.89
COMMON SHARES
Basic Shares Outstanding	3.389M shares	3.218M shares
Diluted Shares Outstanding	3.393M shares	3.296M shares

Balance Sheet

Concept	2016 Q1	2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$49.30M	$31.50M
YoY Change	56.51%	178.76%
Cash & Equivalents	$49.34M	$31.50M
Short-Term Investments
Other Short-Term Assets	$1.900M	$2.000M
YoY Change	-5.0%	33.33%
Inventory
Prepaid Expenses
Receivables	$16.70M	$16.70M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$67.90M	$50.20M
YoY Change	35.26%	91.6%
LONG-TERM ASSETS
Property, Plant & Equipment	$4.243M	$4.247M
YoY Change	-0.11%	349.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments	$17.85M	$49.70M
YoY Change	-64.09%	43.64%
Other Assets	$9.400M	$5.700M
YoY Change	64.91%	1.79%
Total Long-Term Assets	$75.52M	$60.28M
YoY Change	25.28%	35.42%
TOTAL ASSETS
Total Short-Term Assets	$67.90M	$50.20M
Total Long-Term Assets	$75.52M	$60.28M
Total Assets	$143.4M	$110.5M
YoY Change	29.81%	56.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$5.000M	$5.900M
YoY Change	-15.25%	84.38%
Accrued Expenses	$4.600M	$6.400M
YoY Change	-28.13%	4.92%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$9.600M	$12.30M
YoY Change	-21.95%	32.26%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00
YoY Change
Other Long-Term Liabilities	$12.50M	$10.10M
YoY Change	23.76%	94.23%
Total Long-Term Liabilities	$12.50M	$10.10M
YoY Change	23.76%	94.23%
TOTAL LIABILITIES
Total Short-Term Liabilities	$9.600M	$12.30M
Total Long-Term Liabilities	$12.50M	$10.10M
Total Liabilities	$22.14M	$22.40M
YoY Change	-1.16%	54.57%
SHAREHOLDERS EQUITY
Retained Earnings	$31.34M	$11.54M
YoY Change	171.51%	-209.38%
Common Stock	$107.4M	$95.20M
YoY Change	12.86%	20.25%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$117.0M	$88.08M
YoY Change
Total Liabilities & Shareholders Equity	$143.4M	$110.5M
YoY Change	29.81%	56.23%

Cashflow Statement

Concept	2016 Q1	2015 Q1
OPERATING ACTIVITIES
Net Income	$9.266M	$9.513M
YoY Change	-2.6%	65.45%
Depreciation, Depletion And Amortization	$162.4K	$106.5K
YoY Change	52.52%	39.89%
Cash From Operating Activities	-$4.026M	$2.125M
YoY Change	-289.44%	-133.58%
INVESTING ACTIVITIES
Capital Expenditures	$106.7K	$565.1K
YoY Change	-81.13%	899.26%
Acquisitions
YoY Change
Other Investing Activities	$370.0K	-$4.290M
YoY Change	-108.62%	-71.98%
Cash From Investing Activities	$259.5K	-$4.857M
YoY Change	-105.34%	-68.39%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	-$4.370M	-$1.548M
YoY Change	182.32%	945.13%
NET CHANGE
Cash From Operating Activities	-$4.026M	$2.125M
Cash From Investing Activities	$259.5K	-$4.857M
Cash From Financing Activities	-$4.370M	-$1.548M
Net Change In Cash	-$8.137M	-$4.280M
YoY Change	90.11%	-80.4%
FREE CASH FLOW
Cash From Operating Activities	-$4.026M	$2.125M
Capital Expenditures	$106.7K	$565.1K
Free Cash Flow	-$4.133M	$1.560M
YoY Change	-364.9%	-124.43%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2016Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2016Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2016
CY2016Q1	dei	Document Period End Date DocumentPeriodEndDate	2016-03-31
CY2016Q1	dei	Document Type DocumentType	10-Q
CY2016Q1	dei	Entity Central Index Key EntityCentralIndexKey	0000909108
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CY2016Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2016Q1	dei	Entity Registrant Name EntityRegistrantName	DIAMOND HILL INVESTMENT GROUP INC
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CY2015Q4	dhil	Book Value Per Share BookValuePerShare	30.84
CY2016Q1	dhil	Book Value Per Share BookValuePerShare	34.31
CY2015Q1	dhil	Broker Commission Advance Repayments BrokerCommissionAdvanceRepayments	251360	USD
CY2016Q1	dhil	Broker Commission Advance Repayments BrokerCommissionAdvanceRepayments	193310	USD
CY2015Q1	dhil	Broker Commission Amortization BrokerCommissionAmortization	244943	USD
CY2016Q1	dhil	Broker Commission Amortization BrokerCommissionAmortization	212313	USD
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CY2016Q1	dhil	Fund Related Expense FundRelatedExpense	3268063	USD
CY2015Q1	dhil	Income Tax Benefit From Dividends Paid On Restricted Stock Financing Activities IncomeTaxBenefitFromDividendsPaidOnRestrictedStockFinancingActivities	0	USD
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CY2016Q1	us-gaap	Operating Leases Future Minimum Payments Due In Two Years OperatingLeasesFutureMinimumPaymentsDueInTwoYears	696198	USD
CY2016Q1	us-gaap	Operating Leases Future Minimum Payments Due Thereafter OperatingLeasesFutureMinimumPaymentsDueThereafter	2341000	USD
CY2016Q1	us-gaap	Operating Leases Future Minimum Payments Remainder Of Fiscal Year OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear	522148	USD
CY2015Q1	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	228464	USD
CY2016Q1	us-gaap	Operating Leases Rent Expense Net OperatingLeasesRentExpenseNet	227349	USD
CY2015Q1	us-gaap	Other Tax Expense Benefit OtherTaxExpenseBenefit	200000	USD
CY2016Q1	us-gaap	Other Tax Expense Benefit OtherTaxExpenseBenefit	100000	USD
CY2015Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	2891523	USD
CY2016Q1	us-gaap	Payments Related To Tax Withholding For Share Based Compensation PaymentsRelatedToTaxWithholdingForShareBasedCompensation	8774006	USD
CY2015Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	4292263	USD
CY2016Q1	us-gaap	Payments To Acquire Investments PaymentsToAcquireInvestments	6133800	USD
CY2015Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	565144	USD
CY2016Q1	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	106654	USD
CY2015Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2016Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	1000000	shares
CY2015Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued		shares
CY2016Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued		shares
CY2015Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding		shares
CY2016Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding		shares
CY2015Q4	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2016Q1	us-gaap	Preferred Stock Value PreferredStockValue	0	USD
CY2015Q4	us-gaap	Prepaid Expense Current And Noncurrent PrepaidExpenseCurrentAndNoncurrent	1780105	USD
CY2016Q1	us-gaap	Prepaid Expense Current And Noncurrent PrepaidExpenseCurrentAndNoncurrent	1880449	USD
CY2015Q1	us-gaap	Proceeds From Payments To Minority Shareholders ProceedsFromPaymentsToMinorityShareholders	0	USD
CY2016Q1	us-gaap	Proceeds From Payments To Minority Shareholders ProceedsFromPaymentsToMinorityShareholders	-825060	USD
CY2015Q1	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	0	USD
CY2016Q1	us-gaap	Proceeds From Sale Maturity And Collections Of Investments ProceedsFromSaleMaturityAndCollectionsOfInvestments	6500000	USD
CY2015Q1	us-gaap	Profit Loss ProfitLoss	9512622	USD
CY2016Q1	us-gaap	Profit Loss ProfitLoss	9279879	USD
CY2015Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	4253361	USD
CY2016Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	4242557	USD
CY2016Q1	us-gaap	Property Subject To Or Available For Operating Lease Number Of Units PropertySubjectToOrAvailableForOperatingLeaseNumberOfUnits	2	Location
CY2015Q4	us-gaap	Redeemable Noncontrolling Interest Equity Common Fair Value RedeemableNoncontrollingInterestEquityCommonFairValue	0	USD
CY2016Q1	us-gaap	Redeemable Noncontrolling Interest Equity Common Fair Value RedeemableNoncontrollingInterestEquityCommonFairValue	4294098	USD
CY2015Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	22072271	USD
CY2016Q1	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	31337934	USD
CY2015Q1	us-gaap	Revenues Revenues	29318407	USD
CY2016Q1	us-gaap	Revenues Revenues	30457490	USD
CY2015Q1	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	609700	USD
CY2016Q1	us-gaap	Selling And Marketing Expense SellingAndMarketingExpense	993122	USD
CY2015Q1	us-gaap	Share Based Compensation ShareBasedCompensation	1968572	USD
CY2016Q1	us-gaap	Share Based Compensation ShareBasedCompensation	2067099	USD
CY2015Q4	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	310356	shares
CY2016Q1	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber	218823	shares
CY2015Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	3826458	USD
CY2016Q1	us-gaap	Stock Issued During Period Value Share Based Compensation StockIssuedDuringPeriodValueShareBasedCompensation	3879431	USD
CY2015Q4	us-gaap	Stockholders Equity StockholdersEquity	105314014	USD
CY2016Q1	us-gaap	Stockholders Equity StockholdersEquity	116980822	USD
CY2015Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3296168	shares
CY2016Q1	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	3393396	shares
CY2015Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3218154	shares
CY2016Q1	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	3388743	shares
CY2016Q1	us-gaap	Prior Period Reclassification Adjustment Description PriorPeriodReclassificationAdjustmentDescription	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Reclassification</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain prior period amounts and disclosures may have been reclassified to conform to the current period's financial presentation.</font></div></div>
CY2016Q1	us-gaap	Revenue Recognition Accounting Policy Gross And Net Revenue Disclosure RevenueRecognitionAccountingPolicyGrossAndNetRevenueDisclosure	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Revenue Recognition – Mutual Fund Administration</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">DHCM has an administrative and transfer agency services agreement with the Funds under which DHCM performs certain services for each Fund. These services include mutual fund administration, fund accounting, transfer agency and other related functions. For performing these services each Fund pays DHCM a fee, which is calculated using an annual rate times the average daily net assets of each respective share class. For the first quarter of 2016 and the entire fiscal year 2015, the annual rate was </font><font style="font-family:inherit;font-size:10pt;">0.24%</font><font style="font-family:inherit;font-size:10pt;"> for Class A and C shares and </font><font style="font-family:inherit;font-size:10pt;">0.10%</font><font style="font-family:inherit;font-size:10pt;"> for Class Y shares. For the first quarter of 2016, the annual rate was </font><font style="font-family:inherit;font-size:10pt;">0.20%</font><font style="font-family:inherit;font-size:10pt;"> for Class I shares. In 2015, the rate for Class I shares was </font><font style="font-family:inherit;font-size:10pt;">0.21%</font><font style="font-family:inherit;font-size:10pt;"> beginning July 1, 2015 and </font><font style="font-family:inherit;font-size:10pt;">0.24%</font><font style="font-family:inherit;font-size:10pt;"> prior to July 1, 2015. </font></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Funds have selected and contractually engaged certain vendors to fulfill various services to benefit the Funds’ shareholders or to satisfy regulatory requirements of the Funds. These services include, among others, required shareholder mailings, federal and state registrations, and legal and audit services. DHCM, in fulfilling a portion of its role under the administration agreement with the Funds, acts as agent to pay these obligations of the Funds. Each vendor is independently responsible for fulfillment of the services it has been engaged to provide and negotiates fees and terms with the management and board of trustees of the Funds. The fee that each Fund pays to DHCM is reviewed annually by the Funds’ board of trustees and specifically takes into account the contractual expenses that DHCM pays on behalf of the Funds. As a result, DHCM is not involved in the delivery or pricing of these services and bears no risk related to these services. Revenue has been recorded net of these Fund related expenses, in accordance with FASB ASC 605-45, </font><font style="font-family:inherit;font-size:10pt;font-style:italic;">Revenue Recognition – Principal Agent Considerations</font><font style="font-family:inherit;font-size:10pt;">. In addition, DHCM advances the upfront commissions that are paid to brokers who sell Class C shares of the Funds. These advances are capitalized and amortized over </font><font style="font-family:inherit;font-size:10pt;">12 months</font><font style="font-family:inherit;font-size:10pt;"> to correspond with the repayments DHCM receives from the principal underwriter to recoup this commission advancement.</font></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Beacon Hill has underwriting and administrative service agreements with certain clients, including registered mutual funds. The fee arrangements vary from client to client based upon services provided and are recorded as revenue under mutual fund administration on the Consolidated Statements of Income. Part of Beacon Hill’s role as underwriter is to act as an agent on behalf of its mutual fund clients to receive 12b-1/service fees and commission revenue and facilitate the payment of those fees and commissions to third parties who provide services to the funds and their shareholders. The majority of 12b-1/service fees are paid to independent third parties and the remainder are retained by the Company as reimbursement for expenses the Company has incurred. The amount of 12b-1/service fees and commissions are determined by each mutual fund client, and Beacon Hill bears no financial risk related to these services. As a result, 12b-1/service fees and commission revenue has been recorded net of the expense payments to third parties, in accordance with the appropriate accounting treatment for this agency relationship.</font></div></div>
CY2016Q1	us-gaap	Revenue Recognition Services Management Fees RevenueRecognitionServicesManagementFees	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Revenue Recognition – Variable Incentive Fees</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company manages certain client accounts that provide for variable incentive fees. These fees are calculated based on client investment results over rolling </font><font style="font-family:inherit;font-size:10pt;">five</font><font style="font-family:inherit;font-size:10pt;">-year periods. The Company records variable incentive fees at the end of the contract measurement period. No variable incentive fees were earned during the </font><font style="font-family:inherit;font-size:10pt;">three</font><font style="font-family:inherit;font-size:10pt;"> months ended </font><font style="font-family:inherit;font-size:10pt;">March 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;">. The table below shows AUM subject to variable incentive fees and the amount of variable incentive fees that would be recognized if the contracts were terminated as of </font><font style="font-family:inherit;font-size:10pt;">March 31, 2016</font><font style="font-family:inherit;font-size:10pt;">:</font></div><div style="line-height:120%;padding-top:16px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:84%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">As of March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2016</font></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">AUM subject to variable incentive fees</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">548,408,661</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;border-collapse:collapse;text-align:left;"><tr><td colspan="4" rowspan="1"></td></tr><tr><td style="width:84%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td><td style="width:14%;" rowspan="1" colspan="1"></td><td style="width:1%;" rowspan="1" colspan="1"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">As of March 31,</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;"> </font></div></td><td colspan="3" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="text-align:center;font-size:8pt;"><font style="font-family:inherit;font-size:8pt;">2016</font></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Contractual Period Ends:</font></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"> </font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Quarter Ended June 30, 2017</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Quarter Ended December 31, 2018</font></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">341,001</font></div></td><td style="vertical-align:bottom;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Quarter Ended September 30, 2019</font></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">422,339</font></div></td><td style="vertical-align:bottom;background-color:#cceeff;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;padding-left:28px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Quarter Ended March 31, 2020</font></div></td><td colspan="2" style="vertical-align:bottom;border-bottom:1px solid #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;" rowspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">—</font></div></td><td style="vertical-align:bottom;border-bottom:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr><tr><td style="vertical-align:top;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Total variable incentive fees that would be recognized if contract terminated</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">$</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">763,340</font></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;background-color:#cceeff;border-top:1px solid #000000;" rowspan="1" colspan="1"><div style="text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></td></tr></table></div><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The contractual end dates highlight the time remaining until the variable incentive fees are scheduled to be earned. The amount of variable incentive fees that would be recognized if the contracts were terminated as of </font><font style="font-family:inherit;font-size:10pt;">March 31, 2016</font><font style="font-family:inherit;font-size:10pt;"> or </font><font style="font-family:inherit;font-size:10pt;">2015</font><font style="font-family:inherit;font-size:10pt;"> will increase or decrease based on future client investment results through the contractual period end. There can be no assurance that the above amounts will ultimately be earned.</font></div></div>
CY2016Q1	us-gaap	Use Of Estimates UseOfEstimates	<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management of the Company to make estimates and assumptions related to the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the period. Actual results could differ from those estimates.</font></div></div>

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0000909108-16-000157-index-headers.html	Edgar Link	pending
0000909108-16-000157-index.html	Edgar Link	pending
0000909108-16-000157.txt	Edgar Link	pending
0000909108-16-000157-xbrl.zip	Edgar Link	pending
dhil-20160331.xml	Edgar Link	completed
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dhil-20160331_cal.xml	Edgar Link	unprocessable
dhil-20160331_def.xml	Edgar Link	unprocessable
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$DHIL
DIAMOND HILL INVESTMENT GROUP INC Stock $dhil

2016 Q1 Form 10-Q Financial Statement

#000090910816000157 Filed on April 27, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$DHIL DIAMOND HILL INVESTMENT GROUP INC Stock $dhil

2016 Q1 Form 10-Q Financial Statement

#000090910816000157 Filed on April 27, 2016

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$DHIL
DIAMOND HILL INVESTMENT GROUP INC Stock $dhil