2019 Q4 Form 10-Q Financial Statement

#000116500219000066 Filed on October 30, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $18.62M $19.89M $29.85M
YoY Change -28.73% -33.37% -10.86%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $16.71M $2.823M $2.980M
YoY Change -10.5% -5.27% -17.61%
% of Gross Profit
Research & Development $2.150M $2.017M $2.332M
YoY Change -8.51% -13.51% 25.71%
% of Gross Profit
Depreciation & Amortization $690.0K $670.0K $640.0K
YoY Change 9.52% 4.69% -9.86%
% of Gross Profit
Operating Expenses $18.86M $4.840M $5.312M
YoY Change -10.28% -8.89% -2.92%
Operating Profit $1.526M $7.151M
YoY Change -78.66% 24.32%
Interest Expense $3.900M $400.0K
YoY Change 39.78%
% of Operating Profit 26.21%
Other Income/Expense, Net $30.00K $30.00K
YoY Change
Pretax Income $3.691M $1.559M $7.151M
YoY Change -53.21% -78.2% 24.32%
Income Tax $1.150M $442.0K $1.783M
% Of Pretax Income 31.16% 28.35% 24.93%
Net Earnings $2.541M $1.117M $5.368M
YoY Change -53.06% -79.19% 29.91%
Net Earnings / Revenue 13.65% 5.62% 17.98%
Basic Earnings Per Share $0.30 $0.13 $0.64
Diluted Earnings Per Share $0.30 $0.13 $0.62
COMMON SHARES
Basic Shares Outstanding 8.864M shares 8.433M shares 8.403M shares
Diluted Shares Outstanding 8.471M shares 8.598M shares

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.1M $101.2M $119.1M
YoY Change -15.31% -15.03% 19.7%
Cash & Equivalents $49.77M $58.37M $48.09M
Short-Term Investments $50.30M $42.80M $71.00M
Other Short-Term Assets $2.544M $2.657M $2.308M
YoY Change -6.85% 15.12% -63.14%
Inventory
Prepaid Expenses
Receivables $13.18M $12.87M $19.83M
Other Receivables $0.00 $0.00 $600.0K
Total Short-Term Assets $117.0M $117.7M $141.8M
YoY Change -16.3% -17.03% 8.51%
LONG-TERM ASSETS
Property, Plant & Equipment $4.152M $4.311M $4.120M
YoY Change -6.78% 4.64% 0.41%
Goodwill $19.80M $19.80M $19.80M
YoY Change 0.0% 0.0% -27.04%
Intangibles
YoY Change
Long-Term Investments $12.40M $8.400M $5.400M
YoY Change 129.63% 55.56%
Other Assets $364.0K $3.500M $5.100M
YoY Change -92.86% -31.37% -46.32%
Total Long-Term Assets $61.75M $59.65M $50.81M
YoY Change 3.87% 17.41% -16.25%
TOTAL ASSETS
Total Short-Term Assets $117.0M $117.7M $141.8M
Total Long-Term Assets $61.75M $59.65M $50.81M
Total Assets $178.7M $177.3M $192.6M
YoY Change -10.28% -7.95% 0.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.100M $2.000M $2.500M
YoY Change -16.0% -20.0% -13.79%
Accrued Expenses $11.60M $8.400M $12.70M
YoY Change -29.7% -33.86% -42.53%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00
YoY Change
Total Short-Term Liabilities $21.36M $18.00M $24.74M
YoY Change -21.28% -27.26% -23.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.100M $9.300M $3.200M
YoY Change -16.51% 190.63% -11.11%
Total Long-Term Liabilities $9.065M $9.300M $3.200M
YoY Change -16.89% 190.63% -11.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $21.36M $18.00M $24.74M
Total Long-Term Liabilities $9.065M $9.300M $3.200M
Total Liabilities $30.42M $27.25M $27.96M
YoY Change -20.02% -2.51% -22.2%
SHAREHOLDERS EQUITY
Retained Earnings $10.97M $14.81M $31.55M
YoY Change -64.07% -53.05% -0.66%
Common Stock $203.5M $202.4M $191.2M
YoY Change 4.8% 5.87% 8.35%
Preferred Stock
YoY Change
Treasury Stock (at cost) $63.28M $63.34M $55.22M
YoY Change 7.78% 14.71% 8.46%
Treasury Stock Shares 1.278M shares 1.408M shares 1.178M shares
Shareholders Equity $130.7K $150.1K $164.7M
YoY Change
Total Liabilities & Shareholders Equity $178.7M $177.3M $192.6M
YoY Change -10.28% -7.95% 0.66%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income $2.541M $1.117M $5.368M
YoY Change -53.06% -79.19% 29.91%
Depreciation, Depletion And Amortization $690.0K $670.0K $640.0K
YoY Change 9.52% 4.69% -9.86%
Cash From Operating Activities -$1.440M $12.55M $6.670M
YoY Change -108.78% 88.16% -47.19%
INVESTING ACTIVITIES
Capital Expenditures -$80.00K -$700.0K -$250.0K
YoY Change -74.19% 180.0% -13.79%
Acquisitions
YoY Change
Other Investing Activities -$650.0K -$2.770M -$420.0K
YoY Change 559.52%
Cash From Investing Activities -$730.0K -$3.470M -$680.0K
YoY Change 135.48% 410.29% 134.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -7.270M -6.570M -5.760M
YoY Change -26.34% 14.06% 11.84%
NET CHANGE
Cash From Operating Activities -1.440M 12.55M 6.670M
Cash From Investing Activities -730.0K -3.470M -680.0K
Cash From Financing Activities -7.270M -6.570M -5.760M
Net Change In Cash -9.440M 2.510M 230.0K
YoY Change -251.52% 991.3% -96.8%
FREE CASH FLOW
Cash From Operating Activities -$1.440M $12.55M $6.670M
Capital Expenditures -$80.00K -$700.0K -$250.0K
Free Cash Flow -$1.360M $13.25M $6.920M
YoY Change -108.13% 91.47% -46.44%

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us-gaap Nature Of Operations
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DESCRIPTION OF THE BUSINESS <div style="line-height:120%;padding-top:12px;text-align:left;text-indent:37px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Westwood Holdings Group, Inc. (“Westwood”, the “Company”, “we”, “us” or “our”) was incorporated under the laws of the State of Delaware on </span><span style="font-family:inherit;font-size:10pt;"><span><span style="white-space:nowrap">December 12, 2001</span></span></span><span style="font-family:inherit;font-size:10pt;">. Westwood provides investment management services to institutional investors, high net worth individuals and financial intermediaries through its subsidiaries, Westwood Management Corp. and Westwood Advisors, L.L.C. (together “Westwood Management”), Westwood Trust, and Westwood International Advisors Inc. (“Westwood International”). Revenue is largely dependent on the total value and composition of assets under management (“AUM”). Accordingly, fluctuations in financial markets and in the composition of AUM impact revenues and results of operations. </span></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;font-weight:bold;">Divestiture of our Omaha Operations</span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:37px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">On September 6, 2017, we entered into an agreement to sell the Omaha-based component of our Wealth Management business. The sale closed on January 12, 2018. We received proceeds of </span><span style="font-family:inherit;font-size:10pt;font-style:normal;"><span>$10.0 million</span></span><span style="font-family:inherit;font-size:10pt;">, net of working capital requirements, and recorded a </span><span style="font-family:inherit;font-size:10pt;"><span>$524,000</span></span><span style="font-family:inherit;font-size:10pt;"> gain on the sale, which is included as “Gain on sale of operations” on our Condensed Consolidated Statements of Comprehensive Income. The sale reduced goodwill and intangible assets but did not have a material impact on our Condensed Consolidated Balance Sheet. The following table presents cash proceeds received and net assets sold (in thousands):</span></div><div style="line-height:120%;padding-top:12px;text-align:center;text-indent:37px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;margin-left:auto;margin-right:auto;width:54.32098765432099%;border-collapse:collapse;text-align:left;"><tr><td colspan="4"/></tr><tr><td style="width:66%;"/><td style="width:1%;"/><td style="width:32%;"/><td style="width:1%;"/></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Cash Proceeds</span></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>10,013</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Net assets sold:</span></div></td><td colspan="3" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"> </span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts receivable</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>99</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other current assets</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>112</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Goodwill</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>7,340</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Intangible assets, net</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>2,170</span></span></div></td><td style="vertical-align:bottom;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Property and equipment, net</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>18</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Accounts payable and accrued liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(241</span></span></div></td><td style="vertical-align:bottom;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Other liabilities</span></div></td><td colspan="2" style="vertical-align:bottom;background-color:#cceeff;padding-left:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>(9</span></span></div></td><td style="vertical-align:bottom;background-color:#cceeff;padding-right:2px;padding-top:2px;padding-bottom:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">)</span></div></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">Gain on sale of operations</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-left:2px;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">$</span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;padding-top:2px;padding-bottom:2px;border-top:1px solid #000000;"><div style="text-align:right;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><span>524</span></span></div></td><td style="vertical-align:bottom;border-bottom:3px double #000000;border-top:1px solid #000000;"><div style="text-align:left;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;"><br/></span></div></td></tr></table></div><span style="font-family:inherit;font-size:10pt;"><br/></span></div><div style="line-height:120%;padding-top:12px;text-align:left;text-indent:37px;font-size:10pt;"><span style="font-family:inherit;font-size:10pt;">The component is reported within both our Advisory and Trust segments. The sale did not represent a major strategic shift in our business and did not qualify for discontinued operations reporting.</span></div>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2001-12-12
CY2018Q1 us-gaap Proceeds From Divestiture Of Businesses
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10000000.0 USD
CY2018Q1 us-gaap Disposal Group Not Discontinued Operation Gain Loss On Disposal
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524000 USD
whg Incremental Common Shares Attributable To Nonvested Restricted Shares
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202830 shares
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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8470673 shares
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
8598230 shares
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
1117000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
5368000 USD
us-gaap Net Income Loss
NetIncomeLoss
3370000 USD
us-gaap Net Income Loss
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21338000 USD
CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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8432598 shares
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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8402697 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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8414317 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
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8359088 shares
CY2019Q3 whg Incremental Common Shares Attributable To Nonvested Restricted Shares
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38075 shares
CY2018Q3 whg Incremental Common Shares Attributable To Nonvested Restricted Shares
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195533 shares
whg Incremental Common Shares Attributable To Nonvested Restricted Shares
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53506 shares
CY2019Q3 us-gaap Earnings Per Share Basic
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0.13
CY2018Q3 us-gaap Earnings Per Share Basic
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0.64
us-gaap Earnings Per Share Basic
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2.55
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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8467823 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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8561918 shares
us-gaap Earnings Per Share Basic
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0.40
CY2019Q3 us-gaap Earnings Per Share Diluted
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0.13
CY2018Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.40
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.49
CY2018Q2 us-gaap Long Term Investments
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5400000 USD
dei Document Period End Date
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2019-09-30
CY2019Q1 whg Investmentinprivatefund
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250000 USD
CY2019Q3 whg Investmentin Private Equity
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2800000 USD
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42437000 USD
us-gaap Trading Securities Unrealized Holding Gain
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425000 USD
us-gaap Trading Securities Unrealized Holding Loss
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18000 USD
CY2019Q3 us-gaap Short Term Investments
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42844000 USD
CY2019Q3 whg Investmentscarriedatfairvaluecost
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45457000 USD
whg Investmentscarriedatfairvalueunrealizedgain
Investmentscarriedatfairvalueunrealizedgain
425000 USD
whg Investmentscarriedatfairvalueunrealizedloss
Investmentscarriedatfairvalueunrealizedloss
18000 USD
CY2019Q3 us-gaap Trading Securities
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45864000 USD
CY2018Q4 us-gaap Trading Securities Cost
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65875000 USD
CY2018 us-gaap Trading Securities Unrealized Holding Gain
TradingSecuritiesUnrealizedHoldingGain
232000 USD
CY2018 us-gaap Trading Securities Unrealized Holding Loss
TradingSecuritiesUnrealizedHoldingLoss
326000 USD
CY2018Q4 us-gaap Short Term Investments
ShortTermInvestments
65781000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q3 us-gaap Short Term Investments
ShortTermInvestments
42844000 USD
CY2019Q3 us-gaap Alternative Investment
AlternativeInvestment
-250000 USD
CY2019Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
45864000 USD
CY2018Q4 us-gaap Trading Securities
TradingSecurities
65781000 USD
CY2018Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
65781000 USD
CY2019Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
CY2017Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
2770000 USD
CY2018Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
CY2018Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-4883000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-3799000 USD
CY2015Q4 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
10000000.0 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
2770000 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Purchases
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPurchases
0 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Earnings1
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInEarnings1
0 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetPeriodIncreaseDecrease
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 USD
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Gain Loss Included In Other Comprehensive Income Loss
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetGainLossIncludedInOtherComprehensiveIncomeLoss
0 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
2770000 USD
CY2019Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
2770000 USD
CY2018Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Value
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue
0 USD
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 USD
us-gaap Impairment Of Intangible Assets Excluding Goodwill
ImpairmentOfIntangibleAssetsExcludingGoodwill
0 USD
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-4883000 USD
CY2019Q3 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-3799000 USD
CY2016Q3 whg Additional Sharesavailablefor Repurchase
AdditionalSharesavailableforRepurchase
5000000.0 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19892000 USD
CY2018Q3 us-gaap Variable Interest Entity Activity Between Vie And Entity Revenues
VariableInterestEntityActivityBetweenVIEAndEntityRevenues
11700000 USD
us-gaap Variable Interest Entity Activity Between Vie And Entity Revenues
VariableInterestEntityActivityBetweenVIEAndEntityRevenues
24300000 USD
CY2019Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4100000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
43388 shares
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
28.99
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1300000 USD
CY2019Q3 us-gaap Variable Interest Entity Activity Between Vie And Entity Revenues
VariableInterestEntityActivityBetweenVIEAndEntityRevenues
7200000 USD
us-gaap Variable Interest Entity Activity Between Vie And Entity Revenues
VariableInterestEntityActivityBetweenVIEAndEntityRevenues
36300000 USD
CY2019Q3 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
14986000000 USD
CY2019Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
19892000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29854000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
65463000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
96181000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
65463000 USD
CY2018Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
29854000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
96181000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y4M24D
CY2019Q3 whg Mutual Fund Incentive Award Liability
MutualFundIncentiveAwardLiability
67000 USD
CY2018Q4 whg Mutual Fund Incentive Award Liability
MutualFundIncentiveAwardLiability
635000 USD
CY2019Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.284
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.249
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.410
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.253
whg Discretetaxexpensefromstockbasedcompensation
Discretetaxexpensefromstockbasedcompensation
638000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
us-gaap Operating Lease Payments
OperatingLeasePayments
1415000 USD
CY2019Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
CY2018Q3 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
569000 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 USD
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1010000 USD
CY2019Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7851000 USD
CY2018Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
8698000 USD
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
dei Document Period End Date
DocumentPeriodEndDate
2019-09-30
CY2019Q1 whg Officeequipmentleaseterm
Officeequipmentleaseterm
P2Y
whg Sublease Term
SubleaseTerm
P7Y
CY2019Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
449000 USD
CY2018Q3 us-gaap Operating Lease Expense
OperatingLeaseExpense
426000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
1346000 USD
us-gaap Operating Lease Expense
OperatingLeaseExpense
1279000 USD
CY2019Q3 us-gaap Sublease Income
SubleaseIncome
33000 USD
CY2018Q3 us-gaap Sublease Income
SubleaseIncome
0 USD
us-gaap Sublease Income
SubleaseIncome
110000 USD
us-gaap Sublease Income
SubleaseIncome
0 USD
CY2019Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
524000 USD
CY2018Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
475000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
1568000 USD
CY2019Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1554000 USD
CY2018Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1432000 USD
CY2018Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
9331000 USD
CY2019Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8158000 USD
CY2018Q3 whg Revenue From External Sources
RevenueFromExternalSources
29214000 USD
CY2018Q3 whg Net Intersegment Revenues
NetIntersegmentRevenues
0 USD
CY2019Q3 whg Net Intersegment Revenues
NetIntersegmentRevenues
0 USD
CY2019Q3 us-gaap Investment Income Net
InvestmentIncomeNet
251000 USD
CY2019Q3 whg Otherrevenue
Otherrevenue
42000 USD
CY2018Q3 us-gaap Investment Income Net
InvestmentIncomeNet
239000 USD
CY2019Q3 us-gaap Revenues
Revenues
19892000 USD
CY2019Q3 whg Economic Earnings Losses
EconomicEarningsLosses
3871000 USD
CY2019Q3 whg Revenue From External Sources
RevenueFromExternalSources
19599000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
9712000 USD
CY2018Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
10763000 USD
CY2019Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2018Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y7M6D
CY2019Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2018Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.050
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
524000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2117000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2081000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1717000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1719000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1550000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
1852000 USD
CY2019Q3 whg Total Lease Payment
TotalLeasePayment
11560000 USD
CY2019Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1848000 USD
CY2019Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
9712000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
445000 USD
CY2019Q3 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
60000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
1117000 USD
CY2019Q3 us-gaap Assets
Assets
177313000 USD
CY2019Q3 us-gaap Goodwill
Goodwill
19804000 USD
CY2018Q3 whg Economic Earnings Losses
EconomicEarningsLosses
9541000 USD
CY2018Q3 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
59000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
5368000 USD
CY2018Q3 us-gaap Assets
Assets
192627000 USD
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
419000 USD
CY2018Q3 whg Otherrevenue
Otherrevenue
401000 USD
CY2018Q3 us-gaap Revenues
Revenues
29854000 USD
CY2018Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
419000 USD
CY2018Q3 us-gaap Goodwill
Goodwill
19804000 USD
whg Revenue From External Sources
RevenueFromExternalSources
63983000 USD
whg Net Intersegment Revenues
NetIntersegmentRevenues
0 USD
us-gaap Investment Income Net
InvestmentIncomeNet
846000 USD
whg Otherrevenue
Otherrevenue
634000 USD
us-gaap Revenues
Revenues
65463000 USD
whg Economic Earnings Losses
EconomicEarningsLosses
12761000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1281000 USD
us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
178000 USD
us-gaap Net Income Loss
NetIncomeLoss
3370000 USD
whg Revenue From External Sources
RevenueFromExternalSources
95228000 USD
whg Net Intersegment Revenues
NetIntersegmentRevenues
0 USD
us-gaap Investment Income Net
InvestmentIncomeNet
616000 USD
whg Otherrevenue
Otherrevenue
337000 USD
us-gaap Revenues
Revenues
96181000 USD
whg Economic Earnings Losses
EconomicEarningsLosses
34428000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1255000 USD
us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
177000 USD
us-gaap Net Income Loss
NetIncomeLoss
21338000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
1117000 USD
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
5368000 USD
us-gaap Net Income Loss
NetIncomeLoss
3370000 USD
us-gaap Net Income Loss
NetIncomeLoss
21338000 USD
CY2019Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
445000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1281000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1255000 USD
CY2019Q3 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
60000 USD
CY2018Q3 us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
59000 USD
us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
178000 USD
us-gaap Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
177000 USD
CY2019Q3 whg Economic Earnings Losses
EconomicEarningsLosses
3871000 USD
CY2018Q3 whg Economic Earnings Losses
EconomicEarningsLosses
9541000 USD
whg Economic Earnings Losses
EconomicEarningsLosses
12761000 USD
whg Economic Earnings Losses
EconomicEarningsLosses
34428000 USD

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