$VCTR
Victory Capital Holdings, Inc.

2023 Q2 Form 10-Q Financial Statement

#000095017023018481 Filed on May 08, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $204.2M $201.3M $201.5M
YoY Change -5.45% -12.48% -12.05%
Cost Of Revenue $37.30M $37.65M $37.63M
YoY Change -8.73% -13.61% -16.74%
Gross Profit $166.9M $163.7M $163.9M
YoY Change -4.7% -12.21% -10.9%
Gross Profit Margin 81.72% 81.3% 81.32%
Selling, General & Admin $68.20M $69.99M $72.24M
YoY Change -4.62% -9.88% -4.24%
% of Gross Profit 40.86% 42.76% 44.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.650M $11.68M $11.15M
YoY Change -10.3% 10.12% 107.1%
% of Gross Profit 5.78% 7.14% 6.8%
Operating Expenses $116.7M $126.8M $83.39M
YoY Change 20.71% -1.34% 3.18%
Operating Profit $87.53M $74.57M $80.50M
YoY Change -26.65% -26.57% -21.93%
Interest Expense -$12.80M -$12.57M -$10.57M
YoY Change -3.38% 34.51% 151.1%
% of Operating Profit -14.62% -16.86% -13.14%
Other Income/Expense, Net -$12.93M -$12.70M -$120.0K
YoY Change -9.77% 15.46% 33.33%
Pretax Income $74.60M $61.87M $69.15M
YoY Change -28.95% -31.67% -19.15%
Income Tax $17.90M $12.60M $16.88M
% Of Pretax Income 24.0% 20.37% 24.41%
Net Earnings $56.67M $49.27M $52.27M
YoY Change -28.45% -30.87% -25.05%
Net Earnings / Revenue 27.75% 24.47% 25.94%
Basic Earnings Per Share $0.85 $0.73
Diluted Earnings Per Share $0.83 $0.71 $0.74
COMMON SHARES
Basic Shares Outstanding 66.89M 67.58M 68.51M
Diluted Shares Outstanding 68.50M 69.73M

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $43.80M $38.34M $38.17M
YoY Change 2.53% -0.56% -45.1%
Cash & Equivalents $43.78M $38.34M $38.17M
Short-Term Investments
Other Short-Term Assets $7.000M $11.56M $8.443M
YoY Change -9.79% 46.08% 26.89%
Inventory
Prepaid Expenses
Receivables $85.30M $84.88M $82.73M
Other Receivables $7.700M $491.0K $1.747M
Total Short-Term Assets $143.8M $135.3M $131.1M
YoY Change 1.71% -3.5% -27.37%
LONG-TERM ASSETS
Property, Plant & Equipment $22.49M $19.65M $21.15M
YoY Change -8.63% -20.65% -16.4%
Goodwill $981.8M $981.8M $981.8M
YoY Change 0.0% 0.0%
Intangibles $1.298B $1.305B $1.315B
YoY Change -2.62% -2.6%
Long-Term Investments $30.00M $28.87M $27.27M
YoY Change 1.7% -10.87% -14.05%
Other Assets
YoY Change
Total Long-Term Assets $2.395B $2.393B $2.410B
YoY Change -1.3% -2.59% 0.44%
TOTAL ASSETS
Total Short-Term Assets $143.8M $135.3M $131.1M
Total Long-Term Assets $2.395B $2.393B $2.410B
Total Assets $2.538B $2.528B $2.541B
YoY Change -1.14% -2.64% -1.51%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $57.40M $58.82M $50.86M
YoY Change 25.5% 23.61% -18.1%
Accrued Expenses $58.90M $42.98M $58.46M
YoY Change 21.93% -0.95% 8.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $355.6M $339.6M $339.7M
YoY Change -4.52% -14.36% -20.14%
LONG-TERM LIABILITIES
Long-Term Debt $987.4M $986.4M $985.5M
YoY Change -2.96% -6.99% -12.63%
Other Long-Term Liabilities $29.50M $42.45M $42.12M
YoY Change -39.22% -20.03% 26.14%
Total Long-Term Liabilities $1.017B $1.029B $1.028B
YoY Change -4.61% -7.61% -11.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $355.6M $339.6M $339.7M
Total Long-Term Liabilities $1.017B $1.029B $1.028B
Total Liabilities $1.492B $1.480B $1.475B
YoY Change -2.42% -11.23% -10.57%
SHAREHOLDERS EQUITY
Retained Earnings $671.5M $635.9M $609.1M
YoY Change 29.53% 51.22%
Common Stock $718.0M $712.3M $706.3M
YoY Change 4.62% 4.73%
Preferred Stock
YoY Change
Treasury Stock (at cost) $377.7M $330.0M $285.4M
YoY Change 94.98% 86.31%
Treasury Stock Shares $14.62M $13.20M
Shareholders Equity $1.046B $1.049B $1.065B
YoY Change
Total Liabilities & Shareholders Equity $2.538B $2.528B $2.541B
YoY Change -1.14% -2.64% -1.51%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $56.67M $49.27M $52.27M
YoY Change -28.45% -30.87% -25.05%
Depreciation, Depletion And Amortization $9.650M $11.68M $11.15M
YoY Change -10.3% 10.12% 107.1%
Cash From Operating Activities $77.40M $64.16M $67.09M
YoY Change -14.23% -14.24% -40.17%
INVESTING ACTIVITIES
Capital Expenditures $2.000M $572.0K $959.0K
YoY Change -187.45% -51.36% -125.3%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities -$400.0K -$974.0K $2.299M
YoY Change -46.38% -62.77% -100.42%
Cash From Investing Activities -$2.400M -$1.546M $1.340M
YoY Change -20.87% -62.47% -100.25%
FINANCING ACTIVITIES
Cash Dividend Paid $22.11M
YoY Change 27.21%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -69.50M -62.47M -97.11M
YoY Change -16.2% -38.54% -122.16%
NET CHANGE
Cash From Operating Activities 77.40M 64.16M 67.09M
Cash From Investing Activities -2.400M -1.546M 1.340M
Cash From Financing Activities -69.50M -62.47M -97.11M
Net Change In Cash 5.500M 164.0K -28.68M
YoY Change 28.84% -100.53% -699.79%
FREE CASH FLOW
Cash From Operating Activities $77.40M $64.16M $67.09M
Capital Expenditures $2.000M $572.0K $959.0K
Free Cash Flow $75.40M $63.58M $66.13M
YoY Change -18.51% -13.65% -42.95%

Facts In Submission

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CY2023Q1 us-gaap Increase Decrease In Trading Securities
IncreaseDecreaseInTradingSecurities
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CY2022Q1 us-gaap Increase Decrease In Trading Securities
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CY2022Q1 vctr Noncash Lease Expense
NoncashLeaseExpense
94000
CY2023Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
0
CY2022Q1 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
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CY2023Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2023Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
IncreaseDecreaseInAccountsReceivableAndOtherOperatingAssets
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CY2022Q1 us-gaap Increase Decrease In Accounts Receivable And Other Operating Assets
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CY2023Q1 us-gaap Increase Decrease In Prepaid Expense
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3118000
CY2022Q1 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1260000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
783000
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
80000
CY2023Q1 vctr Increase Decrease In Accounts Payable And Accrued Expenses Excluding Employee Benefits
IncreaseDecreaseInAccountsPayableAndAccruedExpensesExcludingEmployeeBenefits
8484000
CY2022Q1 vctr Increase Decrease In Accounts Payable And Accrued Expenses Excluding Employee Benefits
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-8819000
CY2023Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-18173000
CY2022Q1 us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-13487000
CY2023Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
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-68000
CY2022Q1 us-gaap Increase Decrease In Other Noncurrent Liabilities
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-146000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
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64156000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
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74813000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
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572000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2023Q1 us-gaap Payments To Acquire Investments
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CY2022Q1 us-gaap Payments To Acquire Investments
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CY2023Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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1971000
CY2022Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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1249000
CY2022Q1 vctr Proceeds From Payments In Equity Method Investment
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CY2023Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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CY2022Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
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327000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
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-1546000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2023Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2023Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
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CY2022Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
5373000
CY2023Q1 us-gaap Repayments Of Senior Debt
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0
CY2022Q1 us-gaap Repayments Of Senior Debt
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70000000
CY2023Q1 us-gaap Payments Of Dividends
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22110000
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
17381000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
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-101645000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23000
CY2022Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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-32000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
164000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-30983000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38171000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
69533000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38335000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
38550000
CY2023Q1 us-gaap Interest Paid Net
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15314000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
7074000
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
995000
CY2022Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1012000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
CY2022Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2991000
CY2023Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:0.0pt;font-family:Times New Roman;margin-bottom:12.0pt;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;Arial&quot;, sans-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:6.0pt;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;Arial&quot;, sans-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 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:6.0pt;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;Arial&quot;, sans-serif;min-width:fit-content;">On July 1, 2019, the Company completed the acquisition (the “USAA AMCO Acquisition” or “USAA AMCO”) of USAA Asset Management Company 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 included 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;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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;Arial&quot;, sans-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.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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;Arial&quot;, sans-serif;min-width:fit-content;">VCM also provides mutual fund administrative services for the Victory Portfolios, Victory Variable Insurance Funds, the mutual fund series of the Victory Portfolios II and the USAA Mutual Fund Trust, which was renamed as the Victory Portfolios III on April 24, 2023 (collectively, the “Victory Funds”), a family of open-end mutual funds, and the VictoryShares (the Company’s ETF brand). 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.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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;Arial&quot;, sans-serif;min-width:fit-content;">VCS is registered with the SEC as an introducing broker-dealer and serves as distributor and underwriter for the Victory Funds, which includes the mutual funds of the Victory Portfolios III (the “Victory Funds III”), referred to as t he USAA Funds prior to April 24, 2023, and the USAA 529 Education Savings Plan. VCS is also the placement agent for certain private funds managed by VCM. VCTA is registered with the SEC as a transfer agent for the Victory Funds III.</span></p>
CY2023Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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;Arial&quot;, sans-serif;min-width:fit-content;">Use of Estimates and Assumptions</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;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;Arial&quot;, sans-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;Arial&quot;, sans-serif;min-width:fit-content;"> </span></p>
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
201320000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
230019000
CY2023Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
84877000
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
82726000
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NontradeReceivables
491000
CY2022Q4 us-gaap Nontrade Receivables
NontradeReceivables
1747000
CY2023Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
85368000
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
84473000
CY2022Q4 vctr Fair Value Assets Transfer Between Levels Amount
FairValueAssetsTransferBetweenLevelsAmount
0
CY2023Q1 vctr Fair Value Assets Transfer Between Levels Amount
FairValueAssetsTransferBetweenLevelsAmount
0
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
12600000
CY2022Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19300000
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.204
CY2022Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.213
CY2023Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2022Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
0
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
10671000
CY2022Q4 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
11299000
CY2023Q1 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4597000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount
DebtInstrumentUnamortizedDiscount
4895000
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
986440000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
985514000
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
17277000
CY2022Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
7120000
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
748000
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
843000
CY2023Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
298000
CY2022Q1 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
328000
CY2023Q1 vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
4206000
CY2022Q1 vctr Interest Rate Swap Income Expense
InterestRateSwapIncomeExpense
-849000
CY2023Q1 us-gaap Interest Expense Other
InterestExpenseOther
122000
CY2022Q1 us-gaap Interest Expense Other
InterestExpenseOther
93000
CY2023Q1 us-gaap Interest And Debt Expense
InterestAndDebtExpense
14239000
CY2022Q1 us-gaap Interest And Debt Expense
InterestAndDebtExpense
9233000
CY2023Q1 us-gaap Stock Repurchase Program Authorized Amount1
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100000000.0
CY2023Q1 us-gaap Treasury Stock Shares Acquired
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1000000.0
CY2023Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
32900000
CY2023Q1 vctr Treasury Stock Value Excise Taxes Payable On Shares
TreasuryStockValueExciseTaxesPayableOnShares
200000
CY2023Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
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31.88
CY2022Q1 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
300000
CY2022Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
9400000
CY2022Q1 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
32.26
CY2023Q1 vctr Share Based Compensation Arrangement By Share Based Payment Employee Stock Option Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentEmployeeStockOptionExercisePrices
1700000
CY2022Q1 vctr Share Based Compensation Arrangement By Share Based Payment Employee Stock Option Exercise Prices
ShareBasedCompensationArrangementByShareBasedPaymentEmployeeStockOptionExercisePrices
1200000
CY2023Q1 us-gaap Dividends Common Stock
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22500000
CY2023Q1 us-gaap Dividends Common Stock Cash
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21400000
CY2023Q1 vctr Cash Bonuses And Dividends
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1100000
CY2022Q1 us-gaap Dividends Common Stock
DividendsCommonStock
17600000
CY2022Q1 us-gaap Dividends Common Stock Cash
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17200000
CY2022Q1 vctr Cash Bonuses And Dividends
CashBonusesAndDividends
400000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4300000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3900000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
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49273000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
71273000
CY2023Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
67288000
CY2022Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
68747000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
2439000
CY2022Q1 us-gaap Incremental Common Shares Attributable To Nonvested Shares With Forfeitable Dividends
IncrementalCommonSharesAttributableToNonvestedSharesWithForfeitableDividends
4905000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
69727000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73652000
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.73
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.97
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
CY2022Q3 us-gaap Long Term Debt Average Amount Outstanding
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450000000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12234000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
13396000
CY2023Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
4901000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
5056000
CY2023Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9135000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10227000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
14036000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
15283000
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M18D
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.046
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1304000
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
1365000
CY2023Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
0
CY2022Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
21000
CY2023Q1 us-gaap Variable Lease Cost
VariableLeaseCost
492000
CY2022Q1 us-gaap Variable Lease Cost
VariableLeaseCost
498000
CY2023Q1 vctr Gross Lease Cost
GrossLeaseCost
1796000
CY2022Q1 vctr Gross Lease Cost
GrossLeaseCost
1884000
CY2023Q1 us-gaap Sublease Income
SubleaseIncome
203000
CY2022Q1 us-gaap Sublease Income
SubleaseIncome
209000
CY2023Q1 us-gaap Lease Cost
LeaseCost
1593000
CY2022Q1 us-gaap Lease Cost
LeaseCost
1675000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1395000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
1277000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4196000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4112000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2415000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1623000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1069000
CY2023Q1 vctr Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
1951000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
15366000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1330000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
14036000

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