PRO-FORMA CONSOLIDATED STATEMENTS OF OPERATIONS
Published on March 22, 2010
Exhibit 99.1
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| First Quarter 2009 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 169,364 | $ | 40,190 | $ | 129,174 | ||||||
| Information processing & software servicing fees |
62,217 | | 62,217 | |||||||||
| Transaction-based & trade execution fees |
17,030 | | 17,030 | |||||||||
| Total revenues |
248,611 | 40,190 | 208,421 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
19,823 | | 19,823 | |||||||||
| Brokerage commissions and royalties |
17,730 | | 17,730 | |||||||||
| Compensation, benefits & other personnel |
76,868 | 4,837 | 72,031 | |||||||||
| Consulting, outsourcing & professional fees |
21,150 | 685 | 20,465 | |||||||||
| Data processing and computer related |
11,515 | 878 | 10,637 | |||||||||
| Facilities, supplies and other costs |
15,433 | 975 | 14,458 | |||||||||
| Amortization |
7,053 | 1,929 | 5,124 | |||||||||
| Depreciation |
5,509 | 100 | 5,409 | |||||||||
| Total expenses |
175,081 | 9,404 | 165,677 | |||||||||
| Income from operations |
73,530 | 30,786 | 42,744 | |||||||||
| Net loss from investments |
(14,450 | ) | | (14,450 | ) | |||||||
| Interest and dividend income |
1,711 | 10 | 1,701 | |||||||||
| Interest expense |
(799 | ) | (416 | ) | (383 | ) | ||||||
| Net income before taxes |
59,992 | 30,380 | 29,612 | |||||||||
| Income taxes |
8,929 | | 8,929 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 13,754 | 13,754 | |||||||||
| Net income |
51,063 | 16,626 | 34,437 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(16,863 | ) | (16,626 | ) | (237 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 34,200 | $ | | $ | 34,200 | ||||||
| Diluted earnings per common share |
$ | 0.18 | $ | 0.18 | ||||||||
| Shares used to calculate diluted earnings per common share |
191,409 | 191,409 | ||||||||||
| Basic earnings per common share |
$ | 0.18 | $ | 0.18 | ||||||||
| Shares used to calculate basic earnings per common share |
191,084 | 191,084 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Second Quarter 2009 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 183,209 | $ | 49,078 | $ | 134,131 | ||||||
| Information processing & software servicing fees |
54,694 | | 54,694 | |||||||||
| Transaction-based & trade execution fees |
14,106 | | 14,106 | |||||||||
| Total revenues |
252,009 | 49,078 | 202,931 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
20,645 | | 20,645 | |||||||||
| Brokerage commissions and royalties |
15,494 | | 15,494 | |||||||||
| Compensation, benefits & other personnel |
67,031 | 5,160 | 61,871 | |||||||||
| Consulting, outsourcing & professional fees |
18,711 | 547 | 18,164 | |||||||||
| Data processing and computer related |
11,177 | 841 | 10,336 | |||||||||
| Facilities, supplies and other costs |
16,203 | 523 | 15,680 | |||||||||
| Amortization |
7,398 | 1,929 | 5,469 | |||||||||
| Depreciation |
5,364 | 100 | 5,264 | |||||||||
| Total expenses |
162,023 | 9,100 | 152,923 | |||||||||
| Income from operations |
89,986 | 39,978 | 50,008 | |||||||||
| Net loss from investments |
(2,533 | ) | | (2,533 | ) | |||||||
| Interest and dividend income |
1,937 | 6 | 1,931 | |||||||||
| Interest expense |
(1,051 | ) | (378 | ) | (673 | ) | ||||||
| Net income before taxes |
88,339 | 39,606 | 48,733 | |||||||||
| Income taxes |
24,212 | | 24,212 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 17,376 | 17,376 | |||||||||
| Net income |
64,127 | 22,230 | 41,897 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(22,556 | ) | (22,230 | ) | (326 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 41,571 | $ | | $ | 41,571 | ||||||
| Diluted earnings per common share |
$ | 0.22 | $ | 0.22 | ||||||||
| Shares used to calculate diluted earnings per common share |
191,933 | 191,933 | ||||||||||
| Basic earnings per common share |
$ | 0.22 | $ | 0.22 | ||||||||
| Shares used to calculate basic earnings per common share |
191,023 | 191,023 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Third Quarter 2009 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 206,235 | $ | 60,160 | $ | 146,075 | ||||||
| Information processing & software servicing fees |
56,241 | | 56,241 | |||||||||
| Transaction-based & trade execution fees |
13,457 | | 13,457 | |||||||||
| Total revenues |
275,933 | 60,160 | 215,773 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
21,998 | | 21,998 | |||||||||
| Brokerage commissions and royalties |
14,421 | | 14,421 | |||||||||
| Compensation, benefits & other personnel |
73,622 | 5,557 | 68,065 | |||||||||
| Consulting, outsourcing & professional fees |
20,173 | 736 | 19,437 | |||||||||
| Data processing and computer related |
11,235 | 911 | 10,324 | |||||||||
| Facilities, supplies and other costs |
18,817 | 1,701 | 17,116 | |||||||||
| Amortization |
15,042 | 1,932 | 13,110 | |||||||||
| Depreciation |
5,322 | 99 | 5,223 | |||||||||
| Total expenses |
180,630 | 10,936 | 169,694 | |||||||||
| Income from operations |
95,303 | 49,224 | 46,079 | |||||||||
| Net gain from investments |
15,616 | | 15,616 | |||||||||
| Interest and dividend income |
1,897 | 8 | 1,889 | |||||||||
| Interest expense |
(1,034 | ) | (364 | ) | (670 | ) | ||||||
| Net income before taxes |
111,782 | 48,868 | 62,914 | |||||||||
| Income taxes |
31,109 | | 31,109 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 21,240 | 21,240 | |||||||||
| Net income |
80,673 | 27,628 | 53,045 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(27,946 | ) | (27,628 | ) | (318 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 52,727 | $ | | $ | 52,727 | ||||||
| Diluted earnings per common share |
$ | 0.27 | $ | 0.27 | ||||||||
| Shares used to calculate diluted earnings per common share |
192,325 | 192,325 | ||||||||||
| Basic earnings per common share |
$ | 0.28 | $ | 0.28 | ||||||||
| Shares used to calculate basic earnings per common share |
190,850 | 190,850 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Fourth Quarter 2009 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 214,378 | $ | 62,533 | $ | 151,845 | ||||||
| Information processing & software servicing fees |
58,655 | | 58,655 | |||||||||
| Transaction-based & trade execution fees |
10,962 | | 10,962 | |||||||||
| Total revenues |
283,995 | 62,533 | 221,462 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
23,344 | | 23,344 | |||||||||
| Brokerage commissions and royalties |
14,090 | | 14,090 | |||||||||
| Compensation, benefits & other personnel |
71,657 | 5,230 | 66,427 | |||||||||
| Consulting, outsourcing & professional fees |
21,660 | 670 | 20,990 | |||||||||
| Data processing and computer related |
11,476 | 962 | 10,514 | |||||||||
| Facilities, supplies and other costs |
16,429 | 81 | 16,348 | |||||||||
| Amortization |
15,115 | 1,929 | 13,186 | |||||||||
| Depreciation |
5,336 | 95 | 5,241 | |||||||||
| Total expenses |
179,107 | 8,967 | 170,140 | |||||||||
| Income from operations |
104,888 | 53,566 | 51,322 | |||||||||
| Net loss from investments |
(3,559 | ) | | (3,559 | ) | |||||||
| Interest and dividend income |
1,736 | 9 | 1,727 | |||||||||
| Interest expense |
(860 | ) | (351 | ) | (509 | ) | ||||||
| Net income before taxes |
102,205 | 53,224 | 48,981 | |||||||||
| Income taxes |
25,636 | | 25,636 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 23,045 | 23,045 | |||||||||
| Net income |
76,569 | 30,179 | 46,390 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(30,732 | ) | (30,179 | ) | (553 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 45,837 | $ | | $ | 45,837 | ||||||
| Diluted earnings per common share |
$ | 0.24 | $ | 0.24 | ||||||||
| Shares used to calculate diluted earnings per common share |
191,414 | 191,414 | ||||||||||
| Basic earnings per common share |
$ | 0.24 | $ | 0.24 | ||||||||
| Shares used to calculate basic earnings per common share |
190,329 | 190,329 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Full Year 2009 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 773,186 | $ | 211,961 | $ | 561,225 | ||||||
| Information processing & software servicing fees |
231,807 | | 231,807 | |||||||||
| Transaction-based & trade execution fees |
55,555 | | 55,555 | |||||||||
| Total revenues |
1,060,548 | 211,961 | 848,587 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
85,810 | | 85,810 | |||||||||
| Brokerage commissions and royalties |
61,735 | | 61,735 | |||||||||
| Compensation, benefits & other personnel |
289,178 | 20,784 | 268,394 | |||||||||
| Consulting, outsourcing & professional fees |
81,694 | 2,638 | 79,056 | |||||||||
| Data processing and computer related |
45,403 | 3,592 | 41,811 | |||||||||
| Facilities, supplies and other costs |
66,882 | 3,280 | 63,602 | |||||||||
| Amortization |
44,608 | 7,719 | 36,889 | |||||||||
| Depreciation |
21,531 | 394 | 21,137 | |||||||||
| Total expenses |
696,841 | 38,407 | 658,434 | |||||||||
| Income from operations |
363,707 | 173,554 | 190,153 | |||||||||
| Net loss from investments |
(4,926 | ) | | (4,926 | ) | |||||||
| Interest and dividend income |
7,281 | 33 | 7,248 | |||||||||
| Interest expense |
(3,744 | ) | (1,509 | ) | (2,235 | ) | ||||||
| Net income before taxes |
362,318 | 172,078 | 190,240 | |||||||||
| Income taxes |
89,886 | | 89,886 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 75,415 | 75,415 | |||||||||
| Net income |
272,432 | 96,663 | 175,769 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(98,097 | ) | (96,663 | ) | (1,434 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 174,335 | $ | | $ | 174,335 | ||||||
| Diluted earnings per common share |
$ | 0.91 | $ | 0.91 | ||||||||
| Shares used to calculate diluted earnings per common share |
191,783 | 191,783 | ||||||||||
| Basic earnings per common share |
$ | 0.91 | $ | 0.91 | ||||||||
| Shares used to calculate basic earnings per common share |
190,821 | 190,821 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| First Quarter 2008 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 260,059 | $ | 77,319 | $ | 182,740 | ||||||
| Information processing & software servicing fees |
60,139 | | 60,139 | |||||||||
| Transaction-based & trade execution fees |
13,710 | | 13,710 | |||||||||
| Total revenues |
333,908 | 77,319 | 256,589 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
28,515 | | 28,515 | |||||||||
| Brokerage commissions and royalties |
16,780 | | 16,780 | |||||||||
| Compensation, benefits & other personnel |
83,892 | 4,181 | 79,711 | |||||||||
| Consulting, outsourcing & professional fees |
26,757 | 437 | 26,320 | |||||||||
| Data processing and computer related |
10,548 | 863 | 9,685 | |||||||||
| Facilities, supplies and other costs |
17,385 | 432 | 16,953 | |||||||||
| Amortization |
6,159 | 1,929 | 4,230 | |||||||||
| Depreciation |
5,361 | 96 | 5,265 | |||||||||
| Total expenses |
195,397 | 7,938 | 187,459 | |||||||||
| Income from operations |
138,511 | 69,381 | 69,130 | |||||||||
| Net loss from investments |
(24,046 | ) | | (24,046 | ) | |||||||
| Interest and dividend income |
4,138 | 238 | 3,900 | |||||||||
| Interest expense |
(967 | ) | (732 | ) | (235 | ) | ||||||
| Net income before taxes |
117,636 | 68,887 | 48,749 | |||||||||
| Income taxes |
29,175 | | 29,175 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 30,201 | 30,201 | |||||||||
| Net income |
88,461 | 38,686 | 49,775 | |||||||||
| Less Net Income attributable to the noncontrolling interest |
(39,515 | ) | (38,686 | ) | (829 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 48,946 | $ | | $ | 48,946 | ||||||
| Diluted earnings per common share |
$ | 0.25 | $ | 0.25 | ||||||||
| Shares used to calculate diluted earnings per common share |
198,211 | 198,211 | ||||||||||
| Basic earnings per common share |
$ | 0.25 | $ | 0.25 | ||||||||
| Shares used to calculate basic earnings per common share |
193,629 | 193,629 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Second Quarter 2008 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 260,931 | $ | 73,602 | $ | 187,329 | ||||||
| Information processing & software servicing fees |
57,088 | | 57,088 | |||||||||
| Transaction-based & trade execution fees |
11,504 | | 11,504 | |||||||||
| Total revenues |
329,523 | 73,602 | 255,921 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
28,594 | | 28,594 | |||||||||
| Brokerage commissions and royalties |
14,451 | | 14,451 | |||||||||
| Compensation, benefits & other personnel |
83,529 | 5,314 | 78,215 | |||||||||
| Consulting, outsourcing & professional fees |
26,611 | 423 | 26,188 | |||||||||
| Data processing and computer related |
11,229 | 801 | 10,428 | |||||||||
| Facilities, supplies and other costs |
18,417 | 1,023 | 17,394 | |||||||||
| Amortization |
6,200 | 1,930 | 4,270 | |||||||||
| Depreciation |
5,298 | 96 | 5,202 | |||||||||
| Total expenses |
194,329 | 9,587 | 184,742 | |||||||||
| Income from operations |
135,194 | 64,015 | 71,179 | |||||||||
| Net loss from investments |
(27,294 | ) | | (27,294 | ) | |||||||
| Interest and dividend income |
3,223 | 110 | 3,113 | |||||||||
| Interest expense |
(808 | ) | (532 | ) | (276 | ) | ||||||
| Net income before taxes |
110,315 | 63,593 | 46,722 | |||||||||
| Income taxes |
27,572 | | 27,572 | |||||||||
| Equity in earnings of unconsoldiated affiliate |
| 27,872 | 27,872 | |||||||||
| Net income |
82,743 | 35,721 | 47,022 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(36,579 | ) | (35,721 | ) | (858 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 46,164 | $ | | $ | 46,164 | ||||||
| Diluted earnings per common share |
$ | 0.24 | $ | 0.24 | ||||||||
| Shares used to calculate diluted earnings per common share |
195,992 | 195,992 | ||||||||||
| Basic earnings per common share |
$ | 0.24 | $ | 0.24 | ||||||||
| Shares used to calculate basic earings per common share |
192,187 | 192,187 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Third Quarter 2008 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 243,162 | $ | 64,588 | $ | 178,574 | ||||||
| Information processing & software servicing fees |
56,577 | | 56,577 | |||||||||
| Transaction-based & trade execution fees |
16,347 | | 16,347 | |||||||||
| Total revenues |
316,086 | 64,588 | 251,498 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
26,080 | | 26,080 | |||||||||
| Brokerage commissions and royalties |
16,256 | | 16,256 | |||||||||
| Compensation, benefits & other personnel |
80,932 | 5,746 | 75,186 | |||||||||
| Consulting, outsourcing & professional fees |
26,213 | 518 | 25,695 | |||||||||
| Data processing and computer related |
11,325 | 851 | 10,474 | |||||||||
| Facilities, supplies and other costs |
18,656 | 695 | 17,961 | |||||||||
| Amortization |
6,234 | 1,929 | 4,305 | |||||||||
| Depreciation |
5,441 | 94 | 5,347 | |||||||||
| Total expenses |
191,137 | 9,833 | 181,304 | |||||||||
| Income from operations |
124,949 | 54,755 | 70,194 | |||||||||
| Net loss from investments |
(42,047 | ) | | (42,047 | ) | |||||||
| Interest and dividend income |
3,384 | 121 | 3,263 | |||||||||
| Interest expense |
(903 | ) | (577 | ) | (326 | ) | ||||||
| Other income |
| | | |||||||||
| Net income before taxes |
85,383 | 54,299 | 31,084 | |||||||||
| Income taxes |
19,995 | | 19,995 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 23,955 | 23,955 | |||||||||
| Net income |
65,388 | 30,344 | 35,044 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(30,893 | ) | (30,344 | ) | (549 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 34,495 | $ | | $ | 34,495 | ||||||
| Diluted earnings per common share |
$ | 0.18 | $ | 0.18 | ||||||||
| Shares used to calculate diluted earnings per common share |
194,696 | 194,696 | ||||||||||
| Basic earnings per common share |
$ | 0.18 | $ | 0.18 | ||||||||
| Shares used to calculate basic earnings per common share |
191,554 | 191,554 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Fourth Quarter 2008 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 191,247 | $ | 47,759 | $ | 143,488 | ||||||
| Information processing & software servicing fees |
56,003 | | 56,003 | |||||||||
| Transaction-based & trade execution fees |
21,152 | | 21,152 | |||||||||
| Total revenues |
268,402 | 47,759 | 220,643 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
21,245 | | 21,245 | |||||||||
| Brokerage commissions and royalties |
20,051 | | 20,051 | |||||||||
| Compensation, benefits & other personnel |
61,517 | 4,694 | 56,823 | |||||||||
| Consulting, outsourcing & professional fees |
24,208 | 1,227 | 22,981 | |||||||||
| Data processing and computer related |
11,500 | 952 | 10,548 | |||||||||
| Facilities, supplies and other costs |
19,920 | 554 | 19,366 | |||||||||
| Amortization |
6,334 | 1,931 | 4,403 | |||||||||
| Depreciation |
5,932 | 96 | 5,836 | |||||||||
| Total expenses |
170,707 | 9,454 | 161,253 | |||||||||
| Income from operations |
97,695 | 38,305 | 59,390 | |||||||||
| Net loss from investments |
(64,631 | ) | | (64,631 | ) | |||||||
| Interest and dividend income |
2,995 | 17 | 2,978 | |||||||||
| Interest expense |
(740 | ) | (444 | ) | (296 | ) | ||||||
| Other income |
5,577 | | 5,577 | |||||||||
| Net income before taxes |
40,896 | 37,878 | 3,018 | |||||||||
| Income taxes |
9,961 | | 9,961 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 16,943 | 16,943 | |||||||||
| Net income |
30,935 | 20,935 | 10,000 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(21,286 | ) | (20,935 | ) | (351 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 9,649 | $ | | $ | 9,649 | ||||||
| Diluted earnings per common share |
$ | 0.05 | $ | 0.05 | ||||||||
| Shares used to calculate diluted earnings per common share |
192,030 | 192,030 | ||||||||||
| Basic earnings per common share |
$ | 0.05 | $ | 0.05 | ||||||||
| Shares used to calculate basic earnings per common share |
190,858 | 190,858 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Full Year 2008 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 955,399 | $ | 263,268 | $ | 692,131 | ||||||
| Information processing & software servicing fees |
229,807 | | 229,807 | |||||||||
| Transaction-based & trade execution fees |
62,713 | | 62,713 | |||||||||
| Total revenues |
1,247,919 | 263,268 | 984,651 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
104,434 | | 104,434 | |||||||||
| Brokerage commissions and royalties |
67,538 | | 67,538 | |||||||||
| Compensation, benefits & other personnel |
309,870 | 19,935 | 289,935 | |||||||||
| Consulting, outsourcing & professional fees |
103,789 | 2,605 | 101,184 | |||||||||
| Data processing and computer related |
44,602 | 3,467 | 41,135 | |||||||||
| Facilities, supplies and other costs |
74,378 | 2,704 | 71,674 | |||||||||
| Amortization |
24,927 | 7,719 | 17,208 | |||||||||
| Depreciation |
22,032 | 382 | 21,650 | |||||||||
| Total expenses |
751,570 | 36,812 | 714,758 | |||||||||
| Income from operations |
496,349 | 226,456 | 269,893 | |||||||||
| Net loss from investments |
(158,018 | ) | | (158,018 | ) | |||||||
| Interest and dividend income |
13,740 | 486 | 13,254 | |||||||||
| Interest expense |
(3,418 | ) | (2,285 | ) | (1,133 | ) | ||||||
| Other income |
5,577 | | 5,577 | |||||||||
| Net income before taxes |
354,230 | 224,657 | 129,573 | |||||||||
| Income taxes |
86,703 | | 86,703 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 98,971 | 98,971 | |||||||||
| Net income |
267,527 | 125,686 | 141,841 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(128,273 | ) | (125,686 | ) | (2,587 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 139,254 | $ | | $ | 139,254 | ||||||
| Diluted earnings per common share |
$ | 0.71 | $ | 0.71 | ||||||||
| Shares used to calculate diluted earnings per common share |
195,233 | 195,233 | ||||||||||
| Basic earnings per common share |
$ | 0.73 | $ | 0.73 | ||||||||
| Shares used to calculate basic earnings per common share |
192,057 | 192,057 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| First Quarter 2007 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 256,398 | $ | 81,171 | $ | 175,227 | ||||||
| Information processing & software servicing fees |
54,232 | | 54,232 | |||||||||
| Transaction-based & trade execution fees |
12,095 | | 12,095 | |||||||||
| Total revenues |
322,725 | 81,171 | 241,554 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
26,992 | | 26,992 | |||||||||
| Brokerage commissions and royalties |
15,645 | | 15,645 | |||||||||
| Compensation, benefits & other personnel |
84,278 | 5,286 | 78,992 | |||||||||
| Consulting, outsourcing & professional fees |
20,879 | 248 | 20,631 | |||||||||
| Data processing and computer related |
10,767 | 1,024 | 9,743 | |||||||||
| Facilities, supplies and other costs |
17,560 | 456 | 17,104 | |||||||||
| Amortization |
2,741 | 1,929 | 812 | |||||||||
| Depreciation |
4,684 | 102 | 4,582 | |||||||||
| Total expenses |
183,546 | 9,045 | 174,501 | |||||||||
| Income from operations |
139,179 | 72,126 | 67,053 | |||||||||
| Net loss from investments |
(316 | ) | | (316 | ) | |||||||
| Interest and dividend income |
4,051 | 407 | 3,644 | |||||||||
| Interest expense |
(1,261 | ) | (1,051 | ) | (210 | ) | ||||||
| Net income before taxes |
141,653 | 71,482 | 70,171 | |||||||||
| Income taxes |
37,781 | | 37,781 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 31,667 | 31,667 | |||||||||
| Net income |
103,872 | 39,815 | 64,057 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(40,495 | ) | (39,815 | ) | (680 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 63,377 | $ | | $ | 63,377 | ||||||
| Diluted earnings per common share |
$ | 0.31 | $ | 0.31 | ||||||||
| Shares used to calculate diluted earnings per common share |
204,702 | 204,702 | ||||||||||
| Basic earnings per common share |
$ | 0.32 | $ | 0.32 | ||||||||
| Shares used to calculate basic earnings per common share |
197,914 | 197,914 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Second Quarter 2007 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 276,653 | $ | 91,682 | $ | 184,971 | ||||||
| Information processing & software servicing fees |
55,414 | | 55,414 | |||||||||
| Transaction-based & trade execution fees |
11,191 | | 11,191 | |||||||||
| Total revenues |
343,258 | 91,682 | 251,576 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
27,866 | | 27,866 | |||||||||
| Brokerage commissions and royalties |
15,170 | | 15,170 | |||||||||
| Compensation, benefits & other personnel |
88,552 | 5,685 | 82,867 | |||||||||
| Consulting, outsourcing & professional fees |
22,617 | 292 | 22,325 | |||||||||
| Data processing and computer related |
10,227 | 834 | 9,393 | |||||||||
| Facilities, supplies and other costs |
17,700 | 399 | 17,301 | |||||||||
| Amortization |
2,741 | 1,929 | 812 | |||||||||
| Depreciation |
4,710 | 82 | 4,628 | |||||||||
| Total expenses |
189,583 | 9,221 | 180,362 | |||||||||
| Income from operations |
153,675 | 82,461 | 71,214 | |||||||||
| Net loss from investments |
(997 | ) | | (997 | ) | |||||||
| Interest and dividend income |
4,882 | 400 | 4,482 | |||||||||
| Interest expense |
(1,168 | ) | (988 | ) | (180 | ) | ||||||
| Other income |
2,952 | | 2,952 | |||||||||
| Net income before taxes |
159,344 | 81,873 | 77,471 | |||||||||
| Income taxes |
42,938 | | 42,938 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 35,803 | 35,803 | |||||||||
| Net income |
116,406 | 46,070 | 70,336 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(46,905 | ) | (46,070 | ) | (835 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 69,501 | $ | | $ | 69,501 | ||||||
| Diluted earnings per common share |
$ | 0.34 | $ | 0.34 | ||||||||
| Shares used to calculate diluted earnings per common share |
203,604 | 203,604 | ||||||||||
| Basic earnings per common share |
$ | 0.35 | $ | 0.35 | ||||||||
| Shares used to calculate basic earnings per common share |
197,314 | 197,314 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Third Quarter 2007 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 280,287 | $ | 90,641 | $ | 189,646 | ||||||
| Information processing & software servicing fees |
58,485 | | 58,485 | |||||||||
| Transaction-based & trade execution fees |
10,864 | | 10,864 | |||||||||
| Total revenues |
349,636 | 90,641 | 258,995 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
29,345 | | 29,345 | |||||||||
| Brokerage commissions and royalties |
14,839 | | 14,839 | |||||||||
| Compensation, benefits & other personnel |
88,463 | 5,561 | 82,902 | |||||||||
| Consulting, outsourcing & professional fees |
23,703 | 886 | 22,817 | |||||||||
| Data processing and computer related |
10,410 | 1,068 | 9,342 | |||||||||
| Facilities, supplies and other costs |
16,607 | 791 | 15,816 | |||||||||
| Amortization |
5,968 | 1,929 | 4,039 | |||||||||
| Depreciation |
5,023 | 166 | 4,857 | |||||||||
| Total expenses |
194,358 | 10,401 | 183,957 | |||||||||
| Income from operations |
155,278 | 80,240 | 75,038 | |||||||||
| Net loss from investments |
(202 | ) | | (202 | ) | |||||||
| Interest and dividend income |
4,381 | 554 | 3,827 | |||||||||
| Interest expense |
(1,267 | ) | (923 | ) | (344 | ) | ||||||
| Net income before taxes |
158,190 | 79,871 | 78,319 | |||||||||
| Income taxes |
38,846 | | 38,846 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 34,929 | 34,929 | |||||||||
| Net income |
119,344 | 44,942 | 74,402 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(46,045 | ) | (44,942 | ) | (1,103 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 73,299 | $ | | $ | 73,299 | ||||||
| Diluted earnings per common share |
$ | 0.37 | $ | 0.37 | ||||||||
| Shares used to calculate diluted earnings per common share |
200,321 | 200,321 | ||||||||||
| Basic earnings per common share |
$ | 0.38 | $ | 0.38 | ||||||||
| Shares used to calculate basic earnings per common share |
194,930 | 194,930 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Fourth Quarter 2007 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 278,086 | $ | 82,151 | $ | 195,935 | ||||||
| Information processing & software servicing fees |
62,170 | | 62,170 | |||||||||
| Transaction-based & trade execution fees |
13,153 | | 13,153 | |||||||||
| Total revenues |
353,409 | 82,151 | 271,258 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
30,416 | | 30,416 | |||||||||
| Brokerage commissions and royalties |
16,250 | | 16,250 | |||||||||
| Compensation, benefits & other personnel |
88,857 | 5,885 | 82,972 | |||||||||
| Consulting, outsourcing & professional fees |
27,443 | 474 | 26,969 | |||||||||
| Data processing and computer related |
10,785 | 844 | 9,941 | |||||||||
| Facilities, supplies and other costs |
22,546 | 1,720 | 20,826 | |||||||||
| Amortization |
6,139 | 1,931 | 4,208 | |||||||||
| Depreciation |
5,130 | 96 | 5,034 | |||||||||
| Total expenses |
207,566 | 10,950 | 196,616 | |||||||||
| Income from operations |
145,843 | 71,201 | 74,642 | |||||||||
| Net loss from investments |
(23,880 | ) | | (23,880 | ) | |||||||
| Interest and dividend income |
5,282 | 415 | 4,867 | |||||||||
| Interest expense |
(1,013 | ) | (799 | ) | (214 | ) | ||||||
| Net income before taxes |
126,232 | 70,817 | 55,415 | |||||||||
| Income taxes |
31,617 | | 31,617 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 31,044 | 31,044 | |||||||||
| Net income |
94,615 | 39,773 | 54,842 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(40,983 | ) | (39,773 | ) | (1,210 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 53,632 | $ | | $ | 53,632 | ||||||
| Diluted earnings per common share |
$ | 0.27 | $ | 0.27 | ||||||||
| Shares used to calculate diluted earnings per common share |
200,297 | 200,297 | ||||||||||
| Basic earnings per common share |
$ | 0.28 | $ | 0.28 | ||||||||
| Shares used to calculate basic earnings per common share |
194,321 | 194,321 | ||||||||||
SEI Investments Company
Pro-forma Consolidated Statements of Operations
| Full Year 2007 | ||||||||||||
| SEI Consolidated As Reported |
LSV & LSVEG |
SEI Deconsolidated LSV & LSVEG Pro-Forma |
||||||||||
| Asset management, administration & distribution fees |
$ | 1,091,424 | $ | 345,645 | $ | 745,779 | ||||||
| Information processing & software servicing fees |
230,301 | | 230,301 | |||||||||
| Transaction-based & trade execution fees |
47,303 | | 47,303 | |||||||||
| Total revenues |
1,369,028 | 345,645 | 1,023,383 | |||||||||
| Subadvisory, distribution and other asset mgmt. costs |
114,619 | | 114,619 | |||||||||
| Brokerage commissions and royalties |
61,904 | | 61,904 | |||||||||
| Compensation, benefits & other personnel |
350,150 | 22,417 | 327,733 | |||||||||
| Consulting, outsourcing & professional fees |
94,642 | 1,900 | 92,742 | |||||||||
| Data processing and computer related |
42,189 | 3,770 | 38,419 | |||||||||
| Facilities, supplies and other costs |
74,413 | 3,366 | 71,047 | |||||||||
| Amortization |
17,589 | 7,718 | 9,871 | |||||||||
| Depreciation |
19,547 | 446 | 19,101 | |||||||||
| Total expenses |
775,053 | 39,617 | 735,436 | |||||||||
| Income from operations |
593,975 | 306,028 | 287,947 | |||||||||
| Net loss from investments |
(25,395 | ) | | (25,395 | ) | |||||||
| Interest and dividend income |
18,596 | 1,776 | 16,820 | |||||||||
| Interest expense |
(4,709 | ) | (3,761 | ) | (948 | ) | ||||||
| Other income |
2,952 | | 2,952 | |||||||||
| Net income before taxes |
585,419 | 304,043 | 281,376 | |||||||||
| Income taxes |
151,182 | | 151,182 | |||||||||
| Equity in earnings of unconsolidated affiliate |
| 133,443 | 133,443 | |||||||||
| Net income |
434,237 | 170,600 | 263,637 | |||||||||
| Less: Net Income attributable to the noncontrolling interest |
(174,428 | ) | (170,600 | ) | (3,828 | ) | ||||||
| Net income attributable to SEI Investments Company |
$ | 259,809 | $ | | $ | 259,809 | ||||||
| Diluted earnings per common share |
$ | 1.28 | $ | 1.28 | ||||||||
| Shares used to calculate diluted earnings per common share |
202,231 | 202,231 | ||||||||||
| Basic earnings per common share |
$ | 1.32 | $ | 1.32 | ||||||||
| Shares used to calculate basic earnings per common share |
196,120 | 196,120 | ||||||||||