$VCTR
Victory Capital Holdings, Inc.

2022 Q4 Form 10-Q Financial Statement

#000095017022022332 Filed on November 07, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3
Revenue $201.5M $207.3M
YoY Change -12.05% -8.41%
Cost Of Revenue $37.63M $39.02M
YoY Change -16.74% -13.02%
Gross Profit $163.9M $168.2M
YoY Change -10.9% -7.27%
Gross Profit Margin 81.32% 81.17%
Selling, General & Admin $72.24M $69.17M
YoY Change -4.24% -0.66%
% of Gross Profit 44.08% 41.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $11.15M $10.69M
YoY Change 107.1% 144.14%
% of Gross Profit 6.8% 6.35%
Operating Expenses $83.39M $108.6M
YoY Change 3.18% -14.67%
Operating Profit $80.50M $98.64M
YoY Change -21.93% -0.36%
Interest Expense -$10.57M -$12.80M
YoY Change 151.1% 117.76%
% of Operating Profit -13.14% -12.98%
Other Income/Expense, Net -$120.0K -$13.29M
YoY Change 33.33% 100.18%
Pretax Income $69.15M $85.35M
YoY Change -19.15% -7.59%
Income Tax $16.88M $12.60M
% Of Pretax Income 24.41% 14.76%
Net Earnings $52.27M $72.76M
YoY Change -25.05% -1.9%
Net Earnings / Revenue 25.94% 35.11%
Basic Earnings Per Share $1.06
Diluted Earnings Per Share $0.74 $1.01
COMMON SHARES
Basic Shares Outstanding 68.51M 68.45M
Diluted Shares Outstanding 71.88M

Balance Sheet

Concept 2022 Q4 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $38.17M $66.67M
YoY Change -45.1% 2.98%
Cash & Equivalents $38.17M $66.67M
Short-Term Investments
Other Short-Term Assets $8.443M $7.321M
YoY Change 26.89% 31.46%
Inventory
Prepaid Expenses
Receivables $82.73M $82.31M
Other Receivables $1.747M $5.221M
Total Short-Term Assets $131.1M $161.5M
YoY Change -27.37% -6.9%
LONG-TERM ASSETS
Property, Plant & Equipment $21.15M $23.12M
YoY Change -16.4% -2.37%
Goodwill $981.8M $981.8M
YoY Change 0.0%
Intangibles $1.315B $1.324B
YoY Change -2.6%
Long-Term Investments $27.27M $28.91M
YoY Change -14.05% -3.0%
Other Assets
YoY Change
Total Long-Term Assets $2.410B $2.428B
YoY Change 0.44% 50.08%
TOTAL ASSETS
Total Short-Term Assets $131.1M $161.5M
Total Long-Term Assets $2.410B $2.428B
Total Assets $2.541B $2.589B
YoY Change -1.51% 44.56%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $50.86M $50.15M
YoY Change -18.1% -7.24%
Accrued Expenses $58.46M $52.95M
YoY Change 8.45% 18.89%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $339.7M $371.0M
YoY Change -20.14% 83.94%
LONG-TERM LIABILITIES
Long-Term Debt $985.5M $999.8M
YoY Change -12.63% 57.73%
Other Long-Term Liabilities $42.12M $47.88M
YoY Change 26.14% 55.17%
Total Long-Term Liabilities $1.028B $1.048B
YoY Change -11.51% 57.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $339.7M $371.0M
Total Long-Term Liabilities $1.028B $1.048B
Total Liabilities $1.475B $1.522B
YoY Change -10.57% 64.84%
SHAREHOLDERS EQUITY
Retained Earnings $609.1M $573.7M
YoY Change 51.22% 66.42%
Common Stock $706.3M $700.0M
YoY Change 4.73% 5.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $285.4M $243.9M
YoY Change 86.31%
Treasury Stock Shares $13.20M $11.81M
Shareholders Equity $1.065B $1.067B
YoY Change
Total Liabilities & Shareholders Equity $2.541B $2.589B
YoY Change -1.51% 44.56%

Cashflow Statement

Concept 2022 Q4 2022 Q3
OPERATING ACTIVITIES
Net Income $52.27M $72.76M
YoY Change -25.05% -1.9%
Depreciation, Depletion And Amortization $11.15M $10.69M
YoY Change 107.1% 144.14%
Cash From Operating Activities $67.09M $103.1M
YoY Change -40.17% 3.18%
INVESTING ACTIVITIES
Capital Expenditures $959.0K -$496.0K
YoY Change -125.3% -84.05%
Acquisitions
YoY Change
Other Investing Activities $2.299M -$9.000K
YoY Change -100.42% -98.51%
Cash From Investing Activities $1.340M -$505.0K
YoY Change -100.25% -86.41%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -97.11M -78.49M
YoY Change -122.16% 24.56%
NET CHANGE
Cash From Operating Activities 67.09M 103.1M
Cash From Investing Activities 1.340M -505.0K
Cash From Financing Activities -97.11M -78.49M
Net Change In Cash -28.68M 24.07M
YoY Change -699.79% -27.42%
FREE CASH FLOW
Cash From Operating Activities $67.09M $103.1M
Capital Expenditures $959.0K -$496.0K
Free Cash Flow $66.13M $103.6M
YoY Change -42.95% 0.54%

Facts In Submission

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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);text-transform:uppercase;color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">NOTE 1. ORGANIZATION AND NATURE OF BUSINESS</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Victory Capital Holdings, Inc., a Delaware corporation (along with its wholly-owned subsidiaries, collectively referred to as the “Company,” “Victory,” or in the first-person notations of “we,” “us,” and “our”), was formed on February 13, 2013 for the purpose of acquiring Victory Capital Management Inc. (“VCM”) and Victory Capital Services, Inc. (“VCS”), formerly known as Victory Capital Advisers, Inc., which occurred on August 1, 2013. On February 12, 2018, the Company completed the initial public offering (the “IPO”) of its Class A common stock, which trades on the NASDAQ under the symbol “VCTR.”</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On and effective July 1, 2019, the Company completed the acquisition (the “USAA AMCO Acquisition” or “USAA AMCO”) of USAA Asset Management Company (“USAA Adviser”) and Victory Capital Transfer Agency, Inc. (“VCTA”), formerly known as the USAA Transfer Agency Company d/b/a USAA Shareholder Account Services. The USAA AMCO Acquisition includes USAA’s mutual fund and exchange traded fund (“ETF”) businesses and its 529 Education Savings Plan. Refer to Note 4, Acquisitions, for further details on the acquisition.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">VCM is a registered investment adviser managing assets through mutual funds, institutional separate accounts, separately managed account products, unified managed account products, third-party ETF model strategies, collective trust funds, private funds, undertakings for the collective investment in transferrable securities, other pooled vehicles and ETFs. VCM also provides mutual fund administrative services for the Victory Portfolios, Victory Variable Insurance Funds and the mutual fund series of the Victory Portfolios II (collectively, the “Victory Funds”), a family of open-end mutual funds, the VictoryShares (the Company’s ETF brand) and the USAA Mutual Fund Trust, a family of open-end mutual funds (the “USAA Funds”). Additionally, VCM employs all of the Company’s United States investment professionals across its Franchises and Solutions, which are not separate legal entities. VCM’s wholly-owned subsidiaries include RS Investment Management (Singapore) Pte. Ltd., RS Investments (Hong Kong) Limited, RS Investments (UK) Limited, Victory Capital Digital Assets, LLC and NEC Pipeline LLC. VCS is registered with the SEC as an introducing broker-dealer and serves as distributor and underwriter for the Victory Funds, the USAA Funds and the USAA 529 Education Savings Plan as well as placement agent for certain private funds managed by VCM. VCTA is registered with the SEC as a transfer agent for the USAA Funds.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On March 1, 2021, the Company completed the acquisition of THB Asset Management (“THB”), resulting in THB becoming the Company’s tenth investment franchise. THB manages responsible investment portfolios in the micro-cap, small-cap and mid-cap asset classes, including U.S., global and international strategies. At March 1, 2021, the THB AUM that was acquired totaled $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">547</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million. Refer to Note 4, Acquisitions, for further details on the acquisition.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On November 1, 2021, the Company completed the acquisition of New Energy Capital Partners (“NEC”), resulting in NEC becoming the Company’s eleventh investment franchise. Founded in 2004 and based in Hanover, New Hampshire, NEC is an alternative asset management firm focused on debt and equity investments in clean energy infrastructure projects and companies. At November 1, 2021, the NEC AUM that was acquired totaled $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">795</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million. Refer to Note 4, Acquisitions, for further details on the acquisition.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On December 31, 2021, the Company completed the acquisition of WestEnd Advisors, LLC (“WestEnd”), resulting in WestEnd becoming the Company’s twelfth investment franchise. Founded in 2004, and headquartered in Charlotte, North Carolina, WestEnd is an ETF strategist advisor that provides financial advisors with a turnkey, core model allocation strategy for either a holistic solution or complementary source of alpha. The firm offers four primary ETF strategies and one large cap core strategy, all in tax efficient Separately Managed Account (SMA) structures. At December 31, 2021, the WestEnd AUM that was acquired totaled $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">19.3</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> billion. WestEnd is a wholly-owned subsidiary of Victory Capital Holdings, Inc. and is the Company’s second registered investment adviser. Refer to Note 4, Acquisitions, for further details on the acquisition.</span></p>
us-gaap Use Of Estimates
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<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates and Assumptions</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of the unaudited condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements and the notes. Actual results may ultimately differ materially from those estimates.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;line-height:1.15;font-family:Times New Roman;margin-bottom:6.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On March 11, 2020, the World Health Organization declared the outbreak of COVID-19 a pandemic. The global spread of COVID-19 has created significant volatility, uncertainty and economic disruption. While COVID-19 did not have a material adverse effect on our business, operations and financial results, the extent to which the pandemic impacts our business, operations and financial results going forward will depend on numerous evolving factors that we may not be able to accurately predict, including: the duration and scope of the pandemic; governmental, business and individuals’ actions that have been and continue to be taken in response to the pandemic; the impact of the pandemic on economic activity and actions taken in response; and the effect on our ability to sell and provide our services.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
661143000
CY2022Q3 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
82313000
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
97757000
CY2022Q3 us-gaap Nontrade Receivables
NontradeReceivables
5221000
CY2021Q4 us-gaap Nontrade Receivables
NontradeReceivables
6548000
CY2022Q3 us-gaap Accounts Receivable Net
AccountsReceivableNet
87534000
CY2021Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
104305000
CY2022Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
189000
CY2021Q3 us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
6007000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
449000
us-gaap Business Combination Acquisition Related Costs
BusinessCombinationAcquisitionRelatedCosts
6265000
CY2021Q2 us-gaap Restructuring Reserve
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800000
CY2021Q4 us-gaap Restructuring Reserve
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300000
CY2020Q4 us-gaap Restructuring Reserve
RestructuringReserve
1000000.0
us-gaap Restructuring Charges
RestructuringCharges
1800000
CY2022Q3 us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
100000
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
100000
us-gaap Business Combination Integration Related Costs
BusinessCombinationIntegrationRelatedCosts
700000
CY2022Q3 us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
100000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
100000
us-gaap Restructuring And Related Cost Incurred Cost
RestructuringAndRelatedCostIncurredCost
2500000
CY2022Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
100000
CY2021Q3 us-gaap Payments For Restructuring
PaymentsForRestructuring
300000
us-gaap Payments For Restructuring
PaymentsForRestructuring
400000
us-gaap Payments For Restructuring
PaymentsForRestructuring
3000000.0
CY2022Q3 us-gaap Restructuring Reserve
RestructuringReserve
0
CY2021Q3 us-gaap Restructuring Reserve
RestructuringReserve
500000
CY2021Q3 us-gaap Restructuring Reserve
RestructuringReserve
500000
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
309400000
CY2021Q4 vctr Fair Value Assets Transfer Between Levels Amount
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0
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12600000
CY2021Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18200000
CY2022Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.147
CY2021Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.197
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
57600000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
56500000
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.205
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2021Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2022Q3 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
12113000
CY2021Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
16436000
CY2022Q3 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
5283000
CY2021Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
6879000
CY2022Q3 us-gaap Long Term Debt
LongTermDebt
999843000
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LongTermDebt
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CY2022Q3 us-gaap Interest Expense Debt
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CY2021Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
4002000
us-gaap Interest Expense Debt
InterestExpenseDebt
27465000
us-gaap Interest Expense Debt
InterestExpenseDebt
13279000
CY2022Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
784000
CY2021Q3 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
554000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
2434000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1801000
CY2022Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
314000
CY2021Q3 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
257000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
960000
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
854000
CY2022Q3 vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
1459000
CY2021Q3 vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
-947000
vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
558000
vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
-2639000
CY2022Q3 us-gaap Interest Expense Other
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123000
CY2021Q3 us-gaap Interest Expense Other
InterestExpenseOther
93000
us-gaap Interest Expense Other
InterestExpenseOther
336000
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InterestExpenseOther
280000
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InterestAndDebtExpense
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InterestAndDebtExpense
5853000
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InterestAndDebtExpense
30637000
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InterestAndDebtExpense
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CY2022Q3 vctr Share Based Compensation Arrangement By Share Based Payment Employee Stock Option Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentEmployeeStockOptionExercisePrices
9300000
vctr Share Based Compensation Arrangement By Share Based Payment Employee Stock Option Exercise Prices
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52300000
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51500000
vctr Cash Bonuses And Dividends
CashBonusesAndDividends
800000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4400000
CY2021Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4000000.0
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13300000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
13900000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
72764000
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
74175000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
223242000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
208647000
CY2022Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
68609000
CY2021Q3 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
67980000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
68625000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
67840000
CY2022Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
3268000
CY2021Q3 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
6073000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
4172000
us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
6322000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
71877000
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74053000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
72797000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
74162000
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.06
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.09
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.08
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.01
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.07
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.81
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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200000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000
CY2022Q3 us-gaap Long Term Debt Average Amount Outstanding
LongTermDebtAverageAmountOutstanding
450000
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
17664000
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4872000
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
14727000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
19599000
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y8M12D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.040
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1318000
us-gaap Operating Lease Cost
OperatingLeaseCost
3983000
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
63000
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
460000
us-gaap Variable Lease Cost
VariableLeaseCost
1344000
CY2022Q3 vctr Gross Lease Cost
GrossLeaseCost
1799000
vctr Gross Lease Cost
GrossLeaseCost
5390000
CY2022Q3 us-gaap Sublease Income
SubleaseIncome
206000
us-gaap Sublease Income
SubleaseIncome
621000
CY2022Q3 us-gaap Lease Cost
LeaseCost
1593000
us-gaap Lease Cost
LeaseCost
4769000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
1251000
us-gaap Operating Lease Payments
OperatingLeasePayments
3720000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1303000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5586000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4603000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3980000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
3193000
CY2022Q3 vctr Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
2828000
CY2022Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
21493000
CY2022Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1894000
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
19599000

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