GAMCO Investors (GAMI) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 31, 2015
Entity Information [Line Items]
Entity Registrant Name	GAMCO INVESTORS, INC. ET AL
Entity Central Index Key	1,060,349
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		6,247,452
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,196,792

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Investment advisory and incentive fees	$ 82,182	$ 92,591	$ 257,563	$ 270,544
Distribution fees and other income	12,301	15,727	39,402	46,367
Institutional research services	2,063	2,540	6,130	6,720
Total revenues	96,546	110,858	303,095	323,631
Expenses
Compensation	39,731	43,316	127,627	131,258
Management fee	2,682	3,756	11,360	13,628
Distribution costs	12,344	15,101	39,747	44,087
Other operating expenses	5,593	5,099	19,271	17,036
Total expenses	60,350	67,272	198,005	206,009
Operating income	36,196	43,586	105,090	117,622
Other income (expense)
Net gain from investments	(11,467)	(9,086)	(614)	7,468
Interest and dividend income	884	1,084	3,227	3,557
Interest expense	(1,917)	(1,987)	(5,899)	(6,000)
Total other income, net	(12,500)	(9,989)	(3,286)	5,025
Income before income taxes	23,696	33,597	101,804	122,647
Income tax provision	9,245	13,045	38,547	44,796
Net income	14,451	20,552	63,257	77,851
Net income attributable to noncontrolling interests	(518)	(3,113)	(589)	(2,718)
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 14,969	$ 23,665	$ 63,846	$ 80,569
Net income attributable to GAMCO Investors, Inc.'s shareholders
Basic (in dollars per share)	$ 0.60	$ 0.94	$ 2.55	$ 3.17
Diluted (in dollars per share)	$ 0.59	$ 0.93	$ 2.52	$ 3.15
Weighted average shares outstanding:
Basic (in shares)	24,947	25,296	25,047	25,385
Diluted (in shares)	25,241	25,517	25,337	25,595
Dividends declared: (in dollars per share)	$ 0.07	$ 0.06	$ 0.21	$ 0.18

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Comprehensive Income [Abstract]
Net income	$ 14,451	$ 20,552	$ 63,257	$ 77,851
Other comprehensive income, net of tax
Foreign currency translation	(35)	(45)	(22)	(15)
Net unrealized gains on securities available for sale, net of tax	(6,696)	(2,407)	(7,418)	(6,832)
Other comprehensive income	(6,731)	(2,452)	(7,440)	(6,847)
Comprehensive income	7,720	18,100	55,817	71,004
Less: Comprehensive income attributable to noncontrolling interests	518	3,113	589	2,718
Comprehensive income attributable to GAMCO Investors, Inc.	$ 8,238	$ 21,213	$ 56,406	$ 73,722

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Comprehensive Income [Abstract]
Net unrealized gains on securities available for sale, income tax	$ (3,932)	$ (1,414)	$ (4,356)	$ (4,013)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION UNAUDITED - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
ASSETS
Cash and cash equivalents	$ 425,616	$ 298,224	$ 358,421
Investment in Securities, Fair Value	126,917	259,537	254,630
Investments in sponsored registered investment companies	115,046	39,537	39,520
Investments in partnerships	101,025	107,637	107,434
Receivable from brokers	52,918	76,079	79,885
Investment advisory fees receivable	28,629	41,872	31,155
Income tax receivable	2,409	2,477	2,433
Other assets	20,109	41,067	25,282
Total assets	872,669	866,430	898,760
Liabilities and Equity
Payable to brokers	49,074	43,409	46,790
Income taxes payable and deferred tax liabilities	10,529	27,939	27,412
Capital lease obligation	5,191	5,253	5,272
Compensation payable	88,747	39,983	93,535
Securities sold, not yet purchased	5,577	10,595	14,180
Mandatorily redeemable noncontrolling interests	1,257	1,302	1,304
Accrued expenses and other liabilities	34,246	29,657	31,007
Sub-total	194,621	158,138	219,500
5.875% Senior notes (due June 1, 2021)	100,000	100,000	100,000
Zero coupon subordinated debentures, Face value: $6.9 million at June 30, 2015, $13.1 million at December 31, 2014 and $13.2 million at June 30, 2014 (due December 31, 2015)	6,750	12,163	11,941
Total liabilities	301,371	270,301	331,441
Redeemable noncontrolling interests	$ 6,018	$ 68,334	$ 56,086
Commitments and contingencies (Note J)
GAMCO Investors, Inc. stockholders' equity
Preferred Stock
Additional paid-in capital	$ 299,769	$ 291,681	$ 289,664
Retained earnings	661,415	602,950	582,357
Accumulated other comprehensive income	17,575	25,014	23,392
Total GAMCO Investors, Inc. stockholders' equity	562,645	525,061	508,494
Noncontrolling interests	2,635	2,734	2,739
Total equity	565,280	527,795	511,233
Total liabilities and equity	872,669	866,430	898,760
Class A [Member]
GAMCO Investors, Inc. stockholders' equity
Common Stock	14	14	14
Treasury stock, at cost (8,118,237, 8,081,561 and 7,167,981 shares, respectively)	(416,147)	(394,617)	(386,952)
Class B [Member]
GAMCO Investors, Inc. stockholders' equity
Common Stock	$ 19	$ 19	$ 19

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION UNAUDITED (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Liabilities and Equity
Zero coupon subordinated debentures, face value	$ 6.9	$ 13.1	$ 13.1
GAMCO Investors, Inc. stockholders equity
Preferred Stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Preferred Stock, shares authorized (in shares)	10,000,000	10,000,000	10,000,000
Common Stock, outstanding (in shares)	25,500,000	25,900,000	25,900,000
Class A [Member]
GAMCO Investors, Inc. stockholders equity
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common Stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common Stock, issued (in shares)	15,387,701	15,341,433	15,230,433
Common Stock, outstanding (in shares)	6,340,992	6,616,212	6,599,982
Treasury stock, shares (in shares)	9,046,709	8,725,221	8,630,451
Class B [Member]
GAMCO Investors, Inc. stockholders equity
Common Stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common Stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common Stock, issued (in shares)	24,000,000	24,000,000	24,000,000
Common Stock, outstanding (in shares)	19,196,792	19,239,260	19,279,260

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED - USD ($) $ in Thousands	Noncontrolling Interests [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Comprehensive Income [Member]	Treasury Stock [Member]	Total	Redeemable Noncontrolling Interests [Member]
Balance at Dec. 31, 2013	$ 2,851	$ 33	$ 282,496	$ 506,441	$ 30,239	$ (361,878)	$ 460,182	$ 6,751
Redemptions of redeemable noncontrolling interests	0	0	0	0	0	0	0	(1,666)
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	0	53,607
Net income	(112)	0	0	80,569	0	0	80,457	(2,606)
Net unrealized gains on securities available for sale, net of tax	0	0	0	0	(2,371)	0	(2,371)	0
Amount reclassed out of accumulated other comprehensve income, net of income tax benefit	0	0	0	0	(4,461)	0	(4,461)	0
Foreign currency translation	0	0	0	0	(15)	0	(15)	0
Dividends declared	0	0	0	(4,653)	0	0	(4,653)	0
Stock based compensation expense	0	0	5,182	0	0	0	5,182	0
Exercise of stock options including tax benefit	0	0	1,986	0	0	0	1,986	0
Purchase of treasury stock	0	0	0	0	0	(25,074)	(25,074)	0
Balance at Sep. 30, 2014	2,739	33	289,664	582,357	23,392	(386,952)	511,233	56,086
Balance at Dec. 31, 2014	2,734	33	291,681	602,950	25,014	(394,617)	527,795	68,334
Redemptions of redeemable noncontrolling interests	0	0	0	0	0	0	0	(600)
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	0	1,036
Noncontrolling Interest, Increase from Consolidation of Consolidated Feeder Fund	0	0	0	0	0	0	0	996
Noncontrolling Interest, Decrease from Deconsolidation of Offshore Fund	0	0	0	0	0	0	0	(63,256)
Net income	(99)	0	0	63,846	0	0	63,747	(490)
Net unrealized gains on securities available for sale, net of tax	0	0	0	0	(7,392)	0	(7,392)	0
Amount reclassed out of accumulated other comprehensve income, net of income tax benefit	0	0	0	0	(25)	0	(25)	0
Foreign currency translation	0	0	0	0	(22)	0	(22)	0
Dividends declared	0	0	0	(5,381)	0	0	(5,381)	0
Stock based compensation expense	0	0	6,819	0	0	0	6,819	0
Exercise of stock options including tax benefit	0	0	1,269	0	0	0	1,269	0
Purchase of treasury stock	0	0	0	0	0	(21,530)	(21,530)	0
Balance at Sep. 30, 2015	$ 2,635	$ 33	$ 299,769	$ 661,415	$ 17,575	$ (416,147)	$ 565,280	$ 6,020

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Consolidated Statements of Equity [Abstract]
Net unrealized gains on securities available for sale, income tax	$ (4,341)	$ (1,393)
Amounts reclassed from accumulated other comprehensive income, income tax benefit	$ 15	$ (2,620)
Dividends declared (in dollars per share)	$ 0.21	$ 0.18

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating activities
Net income	$ 63,257,000	$ 77,851,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net gains from partnerships	(681,000)	(572,000)
Depreciation and amortization	475,000	507,000
Stock based compensation expense	6,819,000	5,182,000
Deferred income taxes	(8,033,000)	(3,472,000)
Tax benefit from exercise of stock options	102,000	349,000
Foreign currency translation gain/(loss)	(22,000)	(15,000)
Other-than-temporary loss on available for sale securities	150,000	69,000
Fair value of donated securities	104,000	1,502,000
Gains on sales of available for sale securities	(30,000)	(3,511,000)
Accretion of zero coupon debentures	502,000	661,000
Loss on extinguishment of debt	310,000	84,000
(Increase) decrease in assets:
Investments in trading securities	29,096,000	(22,376,000)
Investments in partnerships:
Contributions to partnerships	(15,170,000)	(15,698,000)
Distributions from partnerships	22,800,000	4,828,000
Receivable from brokers	(24,745,000)	(30,424,000)
Investment advisory fees receivable	13,046,000	20,351,000
Income tax receivable and deferred tax assets	68,000	(1,988,000)
Other assets	20,402,000	563,000
Increase (decrease) in liabilities:
Payable to brokers	42,930,000	36,026,000
Income taxes payable and deferred tax liabilities	(5,019,000)	(4,950,000)
Compensation payable	48,768,000	58,873,000
Mandatorily redeemable noncontrolling interests	(45,000)	(51,000)
Accrued expenses and other liabilities	5,092,000	(1,639,000)
Total adjustments	136,919,000	44,299,000
Net cash provided by operating activities	200,176,000	122,150,000
Investing activities
Purchases of available for sale securities	(43,030,000)	(6,252,000)
Proceeds from sales of available for sale securities	1,064,000	8,018,000
Return of capital on available for sale securities	554,000	827,000
Net cash provided by investing activities	(41,412,000)	2,593,000
Financing activities
Contributions from redeemable noncontrolling interests	1,036,000	53,607,000
Redemptions of redeemable noncontrolling interests	(602,000)	(1,666,000)
Payments to Noncontrolling Interests	0	0
Proceeds from exercise of stock options	1,169,000	1,637,000
Repurchase of zero coupon subordinated debentures	(6,224,000)	(715,000)
Dividends paid	(5,252,000)	(4,567,000)
Purchase of treasury stock	(21,530,000)	(25,074,000)
Net cash provided used in financing activities	(31,403,000)	23,222,000
Effect of exchange rates on cash and cash equivalents	8,000	5,000
Net increase in cash and cash equivalents	127,369,000	147,970,000
Cash and cash equivalents at beginning of period	298,224,000	210,451,000
Increase in cash from consolidation	10,000	0
Increase in cash from deconsolidation	13,000	0
Cash and cash equivalents at end of period	425,616,000	358,421,000
Supplemental disclosures of cash flow information:
Cash paid for interest	3,897,000	3,847,000
Cash paid for taxes	$ 49,590,000	$ 52,956,000

CONDENSED CONSOLIDATED STATEM10

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Thousands	Apr. 01, 2015	Jan. 01, 2015	Sep. 30, 2015	Sep. 30, 2014
Non-cash activity:
Accrued restricted stock award dividends			$ 129	$ 86
Decrease in net assets from deconsolidation		$ (63,280)
Decrease in redeemable noncontrolling interests from deconsolidation		$ (63,267)
Increase in net assets from deconsolidation	$ 986
Increase in redeemable noncontrolling interests from deconsolidation	$ 996

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Significant Accounting Policies [Abstract]
Significant Accounting Policies	A. Significant Accounting Policies Basis of Presentation Unless we have indicated otherwise, or the context otherwise requires, references in this report to "GAMCO Investors, Inc.," "GAMCO," "the Company," "GBL," "we," "us" and "our" or similar terms are to GAMCO Investors, Inc., its predecessors and its subsidiaries. The unaudited interim condensed consolidated financial statements of GAMCO included herein have been prepared in conformity with generally accepted accounting principles ("GAAP") in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP in the United States for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair presentation of financial position, results of operations and cash flows of GAMCO for the interim periods presented and are not necessarily indicative of a full year's results. The interim condensed consolidated financial statements include the accounts of GAMCO and its subsidiaries. Intercompany accounts and transactions are eliminated. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 from which the accompanying condensed consolidated financial statements were derived. Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported on the interim condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Recent Accounting Developments In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in the Accounting Standards Codification ("Codification") Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the Codification. The core principle of the new ASU No. 2014-09 is for companies to recognize revenue from the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods and is to be retrospectively applied. Early adoption is not permitted. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In June 2014, the FASB issued an accounting update clarifying that entities should treat performance targets that could be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date) for an award where transfer to the employee is contingent upon satisfaction of the performance target until it becomes probable that the performance target will be met. The guidance is effective for the Company beginning January 1, 2016. Early adoption is permitted. This guidance is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued an accounting update amending the consolidation requirements under GAAP. This guidance is effective for the Company beginning January 1, 2016. Early adoption is permitted. The Company is continuing to analyze the impact, if any, that this update may have on its consolidated financial statements. In May 2015, the FASB issued new guidance amending the current disclosure requirements for investments in certain entities that calculate net asset value per share. The guidance requires investments for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy. Instead, those investment amounts shall be provided as a separate item to permit reconciliation of the fair value of investments included in the fair value hierarchy to the line items presented in the statement of financial condition. This new guidance will be effective for the Company's first quarter of 2016. The Company is currently evaluating the potential impact on its consolidated financial statements and related disclosures.

Investment in Securities

Investment in Securities	9 Months Ended
	Sep. 30, 2015
Investment in Securities [Abstract]
Investment in Securities	B. Investment in Securities Investments in securities at September 30, 2015, December 31, 2014 and September 30, 2014 consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ - $ - $ 18,994 $ 18,996 $ 20,995 $ 20,999 Common stocks 78,025 87,745 170,977 195,029 167,714 190,939 Mutual funds 2,504 3,180 2,432 3,498 2,416 3,373 Other investments 505 723 743 1,704 753 1,550 Total trading securities 81,034 91,648 193,146 219,227 191,878 216,861 Available for sale securities: Common stocks 13,561 34,095 13,637 38,942 14,228 36,380 Mutual funds 627 1,174 681 1,368 681 1,389 Total available for sale securities 14,188 35,269 14,318 40,310 14,909 37,769 Total investments in securities $ 95,222 $ 126,917 $ 207,464 $ 259,537 $ 206,787 $ 254,630 Securities sold, not yet purchased at September 30, 2015, December 31, 2014 and September 30, 2014 consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Proceeds Fair Value Proceeds Fair Value Proceeds Fair Value Trading securities: (In thousands) Common stocks $ 6,123 $ 5,482 $ 9,835 $ 9,960 $ 11,699 $ 13,514 Other investments 8 95 1 635 71 666 Total securities sold, not yet purchased $ 6,131 $ 5,577 $ 9,836 $ 10,595 $ 11,770 $ 14,180 Investments in sponsored registered investment companies at September 30, 2015, December 31,2014 and September 30, 2014 consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,097 $ 41,820 $ 1 $ 1 $ 1 $ 1 Total trading securities 40,097 41,820 1 1 1 1 Available for sale securities: Closed-end funds 63,068 70,349 21,962 36,323 21,819 36,142 Mutual funds 1,883 2,877 1,898 3,213 1,922 3,377 Total available for sale securities 64,951 73,226 23,860 39,536 23,741 39,519 Total investments in sponsored registered investment companies $ 105,048 $ 115,046 $ 23,861 $ 39,537 $ 23,742 $ 39,520 Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designation as of the date of each consolidated statement of financial condition. Investments in United States Treasury Bills and Notes with maturities of greater than three months at the time of purchase are classified as investments in securities, and those with maturities of three months or less at the time of purchase are classified as cash equivalents. The portion of investments in securities held for resale in anticipation of short-term market movements are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings. Available for sale ("AFS") investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of equity except for losses deemed to be other than temporary ("OTT") which are recorded as realized losses in the condensed consolidated statements of income. The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") into income for the three and nine months ended September 30, 2015 and 2014 (in thousands): Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Three months ended September 30, 2015 2014 $ - $ 348 Net gain/(loss) from investments Realized gain on sale of AFS securities 45 - Other operating expenses/net gain from investments Realized gain on donation of AFS securities (150 ) - Net gain/(loss) from investments OTT impairment of AFS securities (105 ) 348 Income before income taxes 39 (129 ) Income tax provision $ (66 ) $ 219 Net income Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Nine months ended September 30, 2015 2014 $ 30 $ 3,511 Net gain/(loss) from investments Realized gain on sale of AFS securities 80 3,639 Other operating expenses/net gain from investments Realized gain on donation of AFS securities (150 ) (69 ) Net gain/(loss) from investments OTT impairment of AFS securities (40 ) 7,081 Income before income taxes 15 (2,620 ) Income tax provision $ (25 ) $ 4,461 Net income The Company recognizes all derivatives as either assets or liabilities measured at fair value and includes them in either investments in securities or securities sold, not yet purchased on the condensed consolidated statements of financial condition. From time to time, the Company and/or the partnerships and offshore funds that the Company consolidates will enter into hedging transactions to manage their exposure to foreign currencies and equity prices related to their proprietary investments. At September 30, 2015, December 31, 2014 and September 30, 2014, we held derivative contracts on 170,000 equity shares, 3.8 million equity shares and 2.3 million equity shares, respectively, that are included in investments in securities or securities sold, not yet purchased on the condensed consolidated statements of financial condition. We had two, one and one foreign exchange contracts outstanding at September 30, 2015, December 31, 2014 and September 30, 2014, respectively, that are included in receivable from brokers or payable to brokers on the condensed consolidated statements of financial condition. Aside from one foreign exchange contract, these transactions are not designated as hedges for accounting purposes, and therefore changes in fair values of these derivatives are included in net gain/(loss) from investments on the condensed consolidated statements of income. The one foreign exchange contract that is designated as a hedge was for a short of British Pounds to hedge the long investment that we have in our London Stock Exchange listed Gabelli Value Plus+ Trust Ltd. closed-end fund which is denominated in British Pounds. As the underlying investment that is being hedged is an available for sale security, the portion of the change in value of the closed-end fund that is currency related is recorded in net gain/(loss) from investments on the condensed consolidated statements of income and not in accumulated comprehensive income. The following tables identify the fair values and gains and losses of all derivatives held by the Company (in thousands): Asset Derivatives Fair Value Liability Derivatives Fair Value Balance Sheet Location September 30, 2015 December 31, 2014 September 30, 2014 Balance Sheet Location September 30, 2015 December 31, 2014 September 30, 2014 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ - $ - $ - Payable to brokers $ 36,354 $ - $ - Sub total $ - $ - $ - $ 36,354 $ - $ - Derivatives Not Designated As Hedging Instruments Under Fasb Asc 815-20 Investments in Securities sold, Equity contracts securities $ 143 $ 896 $ 800 not yet purchased $ 95 $ 635 $ 666 Foreign exchange contracts Receivable from brokers - - - Payable to brokers 5,172 5,470 6,343 Sub total $ 143 $ 896 $ 800 $ 5,267 $ 6,105 $ 7,009 Total derivatives $ 143 $ 896 $ 800 $ 41,621 $ 6,105 $ 7,009 Type of Derivative Income Statement Location Three Months ended September 30, Nine Months ended September 30, 2015 2014 2015 2014 Foreign exchange contracts Net gain/(loss) from investments $ 1,985 $ 482 $ 1,885 $ 541 Equity contracts Net gain/(loss) from investments 27 758 199 591 Total $ 2,012 $ 1,240 $ 2,084 $ 1,132 The Company is a party to enforceable master netting arrangements for swaps entered into as part of the investment strategy of the Company's proprietary portfolio. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, major U.S. financial institutions, are shown gross in assets and liabilities on the condensed consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Assets Presented Recognized Statements of in the Statements of Financial Cash Collateral Assets Financial Condition Financial Condition Instruments Received Net Amount Swaps: (in thousands) September 30, 2015 $ 143 $ - $ 143 $ (89 ) $ - $ 54 December 31, 2014 896 - 896 (634 ) - 262 September 30, 2014 $ 800 $ - $ 800 $ (657 ) $ - $ 143 Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Liabilities Presented Recognized Statements of in the Statements of Financial Cash Collateral Liabilities Financial Condition Financial Condition Instruments Pledged Net Amount Swaps: (in thousands) September 30, 2015 $ 89 $ - $ 89 $ (89 ) $ - $ - December 31, 2014 634 - 634 (634 ) - - September 30, 2014 $ 657 $ - $ 657 $ (657 ) $ - $ - The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available for sale investments as of September 30, 2015, December 31, 2014 and September 30, 2014: September 30, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,561 $ 20,534 $ - $ 34,095 Closed-end Funds 63,068 10,128 (2,847 ) 70,349 Mutual funds 2,510 1,620 (79 ) 4,051 Total available for sale securities $ 79,139 $ 32,282 $ (2,926 ) $ 108,495 December 31, 2014 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,637 $ 25,305 $ - $ 38,942 Closed-end Funds 21,962 14,398 (37 ) 36,323 Mutual funds 2,579 2,030 (28 ) 4,581 Total available for sale securities $ 38,178 $ 41,733 $ (65 ) $ 79,846 September 30, 2014 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 14,228 $ 22,152 $ - $ 36,380 Closed-end Funds 21,819 14,325 (2 ) 36,142 Mutual funds 2,603 2,163 - 4,766 Total available for sale securities $ 38,650 $ 38,640 $ (2 ) $ 77,288 Changes in net unrealized losses, net of taxes, for the three months ended September 30, 2015 and September 30, 2014 of ($6.7) million in losses and ($2.4) million in losses, respectively, have been included in other comprehensive income, a component of equity, at September 30, 2015 and September 30, 2014. Return of capital on available for sale securities was $0.3 million and $0.3 million for the three months ended September 30, 2015 and September 30, 2014, respectively. During the three months ended September 30, 2015, there were no proceeds from the sales of investments available for sale and no gross gains on the sale of investments available for sale. Proceeds from sales of investments available for sale were approximately $1.5 million for the three months ended September 30, 2014. For the three months ended September 30, 2014, gross gains on the sale of investments available for sale amounted to $0.3 million and were reclassified from other comprehensive income into net gain from investments in the condensed consolidated statements of income. There were no losses on the sale of investments available for sale for the three months ended September 30, 2015 or September 30, 2014. Changes in net unrealized losses, net of taxes, for the nine months ended September 30, 2015 and September 30, 2014 of $(7.4) million in losses and $(6.8) million in losses, respectively, have been included in other comprehensive income, a component of equity, at September 30, 2015 and September 30, 2014. Return of capital on available for sale securities was $0.6 million and $0.8 million for the nine months ended September 30, 2015 and September 30, 2014, respectively. Proceeds from sales of investments available for sale were approximately $1.1 million and $8.0 million for the nine months ended September 30, 2015 and September 30, 2014, respectively. For the nine months ended September 30, 2015 and September 30, 2014, gross gains on the sale of investments available for sale amounted to $30,000 and $3.5 million, respectively, and were reclassified from other comprehensive income into net gain from investments in the condensed consolidated statements of income. There were no losses on the sale of investments available for sale for the nine months ended September 30, 2015 or September 30, 2014. The basis on which the cost of a security sold is determined using specific identification. Investments classified as available for sale that are in an unrealized loss position for which other-than-temporary impairment has not been recognized consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Unrealized Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value Cost Losses Fair Value (in thousands) Cosed-end funds $ 40,537 $ (2,847 ) $ 37,690 $ 812 $ (37 ) $ 775 $ 79 $ (2 ) $ 77 Mutual Funds 303 (79 ) 224 303 (28 ) 275 - - - Total available for sale securities $ 40,840 $ (2,926 ) $ 37,914 $ 1,115 $ (65 ) $ 1,050 $ 79 $ (2 ) $ 77 At September 30, 2015, there were four holdings in loss positions which were not deemed to be other-than-temporarily impaired due to the length of time that they had been in a loss position and because they passed scrutiny in our evaluation of issuer-specific and industry-specific considerations. In these specific instances, the investments at September 30, 2015 were mutual funds and closed-end funds with diversified holdings across multiple companies and across multiple industries. One holding was impaired for two months, one holding was impaired for three months, one holding was impaired for seven months and one holding was impaired for eight months at September 30, 2015. The value of these holdings at September 30, 2015 was $37.9 million. At December 31, 2014, there were four holdings in loss positions which were not deemed to be other-than-temporarily impaired due to the length of time that they had been in a loss position and because they passed scrutiny in our evaluation of issuer-specific and industry-specific considerations. In these specific instances, the investments at December 31, 2014 were mutual funds and closed-end funds with diversified holdings across multiple companies and across multiple industries. One holding was impaired for one month, one for three months and two for four months at December 31, 2014. The value of these holdings at December 31, 2014 was $1.1 million. At September 30, 2014, there was one holding in a loss position which was not deemed to be other-than-temporarily impaired due to the length of time that it had been in a loss position and because it passed scrutiny in our evaluation of issuer-specific and industry-specific considerations. In this specific instance, the investment at September 30, 2014 was a closed-end fund with diversified holdings across multiple companies and across multiple industries. The one holding was impaired for one month at September 30, 2014. The value of this holding at September 30, 2014 was $0.1 million. For the three months ended September 30, 2015 there were $150,000 of losses on available for sale securities deemed to be other than temporary and a loss has been recorded in net gain from investments. There were no losses recognized on AFS securities for the three months ended September 30, 2014. For the nine months ended September 30, 2015 and September 30, 2014, there were $150,000 and $69,000, respectively, of losses on available for sale securities deemed to be other than temporary and a loss has been recorded in net gain from investments.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2015
Fair Value [Abstract]
Fair Value	C. Fair Value The following tables present information about the Company's assets and liabilities by major categories measured at fair value on a recurring basis as of September 30, 2015, December 31, 2014 and September 30, 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of September 30, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable September 30, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2015 Cash equivalents $ 425,392 $ - $ - $ 425,392 Investments in partnerships - 14,319 - 14,319 Investments in securities: AFS - Common stocks 34,095 - - 34,095 AFS - Mutual funds 1,174 - - 1,174 Trading - Common stocks 86,970 - 775 87,745 Trading - Mutual funds 3,180 - - 3,180 Trading - Other 263 143 317 723 Total investments in securities 125,682 143 1,092 126,917 Investments in sponsored registered investment companies: AFS - Closed-end Funds 70,349 - - 70,349 AFS - Mutual Funds 2,877 - - 2,877 Trading - Mutual funds 41,820 - - 41,820 Total investments in sponsored registered investment companies 115,046 - - 115,046 Total investments 240,728 14,462 1,092 256,282 Total assets at fair value $ 666,120 $ 14,462 $ 1,092 $ 681,674 Liabilities Trading - Common stocks $ 5,482 $ - $ - $ 5,482 Trading - Other - 95 - 95 Securities sold, not yet purchased $ 5,482 $ 95 $ - $ 5,577 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2014 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2014 Cash equivalents $ 297,971 $ - $ - $ 297,971 Investments in partnerships - 23,803 - 23,803 Investments in securities: AFS - Common stocks 38,942 - - 38,942 AFS - Mutual funds 1,368 - - 1,368 Trading - Gov't obligations 18,996 - - 18,996 Trading - Common stocks 193,735 1 1,293 195,029 Trading - Mutual funds 3,498 - - 3,498 Trading - Other 513 897 294 1,704 Total investments in securities 257,052 898 1,587 259,537 Investments in sponsored registered investment companies: AFS - Closed-end Funds 36,323 - - 36,323 AFS - Mutual Funds 3,213 - - 3,213 Trading - Mutual funds 1 - - 1 Total investments in sponsored registered investment companies 39,537 - - 39,537 Total investments 296,589 24,701 1,587 322,877 Total assets at fair value $ 594,560 $ 24,701 $ 1,587 $ 620,848 Liabilities Trading - Common stocks $ 9,960 $ - $ - $ 9,960 Trading - Other - 635 - 635 Securities sold, not yet purchased $ 9,960 $ 635 $ - $ 10,595 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of September 30, 2014 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable September 30, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2014 Cash equivalents $ 358,210 $ - $ - $ 358,210 Investments in partnerships - 24,094 - 24,094 Investments in securities: AFS - Common stocks 36,380 - - 36,380 AFS - Mutual funds 1,389 - - 1,389 Trading - Gov't obligations 20,999 - - 20,999 Trading - Common stocks 190,215 - 724 190,939 Trading - Mutual funds 3,373 - - 3,373 Trading - Other 453 803 294 1,550 Total investments in securities 252,809 803 1,018 254,630 Investments in sponsored registered investment companies: AFS - Closed-end Funds 36,142 - - 36,142 AFS - Mutual Funds 3,377 - - 3,377 Trading - Mutual funds 1 - - 1 Total investments in sponsored registered investment companies 39,520 - - 39,520 Total investments 292,329 24,897 1,018 318,244 Total assets at fair value $ 650,539 $ 24,897 $ 1,018 $ 676,454 Liabilities Trading - Common stocks $ 13,514 $ - $ - $ 13,514 Trading - Other - 666 - 666 Securities sold, not yet purchased $ 13,514 $ 666 $ - $ 14,180 The following tables present additional information about assets by major categories measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended September 30, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized June Unrealized Gains or Included in and Transfers 30, 2015 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 920 $ (145 ) $ - $ - $ (145 ) $ - $ - $ - $ 775 Trading - Other 298 19 - - 19 - - - 317 Total $ 1,218 $ (126 ) $ - $ - $ (126 ) - $ - $ - $ 1,092 There were no transfers between any Levels during the three months ended September 30, 2015. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended September 30, 2014 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized June Unrealized Gains or Included in and Transfers 30, 2014 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 716 $ 8 $ - $ - $ 8 $ - $ - $ - $ 724 Trading - Other 294 - - - - - - - 294 Total $ 1,010 $ 8 $ - $ - $ 8 $ - $ - $ - $ 1,018 There were no transfers between any Levels during the three months ended September 30, 2014. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Nine Months Ended September 30, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2014 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 1,293 $ (166 ) $ - $ - $ (166 ) $ 6 $ (358 ) $ - $ 775 Trading - Other 294 102 - - 102 5 (84 ) - 317 Total $ 1,587 $ (64 ) $ - $ - $ (64 ) 11 $ (442 ) $ - $ 1,092 There were securities with a value of $0.4 million that were transferred out of Level 3 as a result of the deconsolidation of an offshore fund during the first quarter of 2015 which are reflected in sales above. There were no transfers between Levels 1 or 2 during the nine months ended September 30, 2015. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Nine Months Ended September 30, 2014 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2013 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 700 $ 24 $ - $ - $ 24 $ - $ - $ - $ 724 Trading - Other 284 - - - - 10 - - 294 Total $ 984 $ 24 $ - $ - $ 24 $ 10 $ - $ - $ 1,018 There were no transfers between any Levels during the nine months ended September 30, 2014.

Investments in Partnerships, Of

Investments in Partnerships, Offshore Funds and Variable Interest Entities	9 Months Ended
	Sep. 30, 2015
Investments in Partnerships, Offshore Funds and Variable Interests [Abstract]
Investments in Partnerships, Offshore Funds and Variable Interests	D. Investments in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs") The Company is general partner or co-general partner of various affiliated entities in which the Company has investments totaling $87.2 million, $94.2 million and $93.2 million at September 30, 2015, December 31, 2014 and September 30, 2014, respectively, and whose underlying assets consist primarily of marketable securities (the "affiliated entities"). We also have investments in unaffiliated entities of $13.8 million, $13.4 million and $14.2 million at September 30, 2015, December 31, 2014 and September 30, 2014, respectively (the "unaffiliated entities"). On a quarterly basis, we evaluate each entity for the appropriate accounting treatment and disclosure. Certain of the affiliated entities, and none of the unaffiliated entities, are consolidated. For those entities where consolidation is not deemed to be appropriate, we report them in our condensed consolidated statement of financial condition under the caption "Investments in partnerships". This caption includes those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting, as well as certain investments that the feeder funds hold that are carried at fair value, as described in Note C. The Company reflects the equity in earnings of these equity method investees and the change in fair value of the consolidated feeder funds ("CFFs") under the caption Net gain/(loss) from investments on the condensed consolidated statements of income. The following table highlights the number of entities, including voting interest entities ("VOEs"), that we consolidate as well as under which accounting guidance they are consolidated, including CFFs, which retain their specialized investment company accounting in consolidation, partnerships and offshore funds. Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs Entities consolidated at December 31, 2013 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at September 30, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - 1 - 1 1 - 1 2 Deconsolidated entities - (1) - - - (1) - (2) Entities consolidated at September 30, 2015 1 2 - 2 1 - 2 4 At and for the nine months ended September 30, 2015, the one CFF VIE is consolidated, as the Company has been determined to be the primary beneficiary because it has an equity interest and absorbs the majority of the expected losses and/or expected gains. At and for the nine months ended September 30, 2015, the one CFF VOE and one Partnership VOE are consolidated because the unaffiliated partners or shareholders lack substantive kick-out rights, and the Company, as either the general partner or investment manager, is deemed to have control. During the three months ended June 30, 2015, it was determined that an additional Partnership VOE should be consolidated when the Partnership was created on April 1, 2015 without unaffiliated capital and an Offshore Fund VIE should be consolidated as the last unaffiliated investor withdrew during the second quarter. Additionally, during the three months ended March 31, 2015, an Offshore Fund VOE was deconsolidated as the Company's ownership percentage fell below 50%, a CFF VOE was deconsolidated when it was closed and a different CFF VOE was consolidated as the last unaffiliated investor withdrew on March 31, 2015. At and for the nine months ended September 30, 2014 and at December 31, 2014, one CFF VIE is consolidated, as the Company has been determined to be the primary beneficiary because it has an equity interest and absorbs the majority of the expected losses and/or expected gains. At and for the nine months ended September 30, 2014 and at December 31, 2014, two CFF VOEs, one Partnership VOE and one Offshore Fund VOE are consolidated because the unaffiliated partners or shareholders lack substantive rights, and the Company, as either the general partner or investment manager, is deemed to have control. The following table breaks down the investments in partnerships line by accounting method, either fair value or equity method, and investment type (in thousands): September 30, 2015 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 14,317 $ - $ - $ - $ - $ 14,317 Equity Method - 38,318 34,552 6,286 7,552 86,708 Total $ 14,317 $ 38,318 $ 34,552 $ 6,286 $ 7,552 $ 101,025 December 31, 2014 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 23,803 $ - $ - $ - $ - $ 23,803 Equity Method - 34,385 36,033 6,552 6,864 83,834 Total $ 23,803 $ 34,385 $ 36,033 $ 6,552 $ 6,864 $ 107,637 September 30, 2014 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 24,094 $ - $ - $ - $ - $ 24,094 Equity Method - 34,967 34,185 6,611 7,577 83,340 Total $ 24,094 $ 34,967 $ 34,185 $ 6,611 $ 7,577 $ 107,434 The following table includes the net impact by line item on the condensed consolidated statements of financial condition for each category of entity consolidated (in thousands): September 30, 2015 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 425,549 $ 2 $ 52 $ 13 $ 425,616 Investments in securities 118,401 - 7,807 709 126,917 Investments in sponsored investment companies 115,046 - - - 115,046 Investments in partnerships 105,097 4,817 (8,504) (385) 101,025 Receivable from brokers 50,960 - 1,933 25 52,918 Investment advisory fees receivable 28,615 5 9 - 28,629 Other assets 22,363 16 137 2 22,518 Total assets $ 866,031 $ 4,840 $ 1,434 $ 364 $ 872,669 Liabilities and equity Securities sold, not yet purchased $ 5,231 $ - $ 140 $ 206 $ 5,577 Accrued expenses and other liabilities 188,770 38 155 81 189,044 Total debt 106,750 - - - 106,750 Redeemable noncontrolling interests - 4,802 1,139 77 6,018 Total equity 565,280 - - - 565,280 Total liabilities and equity $ 866,031 $ 4,840 $ 1,434 $ 364 $ 872,669 December 31, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 298,149 $ (11) $ 86 $ - $ 298,224 Investments in securities 200,443 - 7,801 51,293 259,537 Investments in sponsored investment companies 39,537 - - - 39,537 Investments in partnerships 111,380 4,438 (8,181) - 107,637 Receivable from brokers 24,301 - 623 51,155 76,079 Investment advisory fees receivable 42,102 (6) (2) (222) 41,872 Other assets 43,393 - - 151 43,544 Total assets $ 759,305 $ 4,421 $ 327 $ 102,377 $ 866,430 Liabilities and equity Securities sold, not yet purchased $ 9,991 $ - $ - $ 604 $ 10,595 Accrued expenses and other liabilities 109,356 22 24 38,141 147,543 Total debt 112,163 - - - 112,163 Redeemable noncontrolling interests - 4,399 303 63,632 68,334 Total equity 527,795 - - - 527,795 Total liabilities and equity $ 759,305 $ 4,421 $ 327 $ 102,377 $ 866,430 September 30, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 358,316 $ 7 $ 98 $ - $ 358,421 Investments in securities 203,280 - 8,836 42,514 254,630 Investments in sponsored investment companies 39,520 - - - 39,520 Investments in partnerships 110,679 4,684 (7,929) - 107,434 Receivable from brokers 31,388 - 306 48,191 79,885 Investment advisory fees receivable 31,221 17 (1) (82) 31,155 Other assets 28,528 24 (1,000) 163 27,715 Total assets $ 802,932 $ 4,732 $ 310 $ 90,786 $ 898,760 Liabilities and equity Securities sold, not yet purchased $ 13,549 $ - $ - $ 631 $ 14,180 Accrued expenses and other liabilities 166,209 71 31 39,009 205,320 Total debt 111,941 - - - 111,941 Redeemable noncontrolling interests - 4,661 279 51,146 56,086 Total equity 511,233 - - - 511,233 Total liabilities and equity $ 802,932 $ 4,732 $ 310 $ 90,786 $ The following table includes the net impact by line item on the condensed consolidated statements of income for each category of entity consolidated (in thousands): Three Months Ended September 30, 2015 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 96,558 $ (10) $ (2) $ - $ 96,546 Total expenses 60,304 23 20 3 60,350 Operating income 36,254 (33) (22) (3) 36,196 Total other income/(expense), net (12,093) (268) (120) (19) (12,500) Income before income taxes 24,161 (301) (142) (22) 23,696 Income tax provision 9,245 - - - 9,245 Net income 14,916 (301) (142) (22) 14,451 Net loss attributable to noncontrolling interests (53) (301) (142) (22) (518) Net income attributable to GAMCO $ 14,969 $ - $ - $ - $ 14,969 Three Months Ended September 30, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 111,073 $ (7) $ - $ (208) $ 110,858 Total expenses 66,980 20 12 260 67,272 Operating income 44,093 (27) (12) (468) 43,586 Total other income, net (7,462) (186) (18) (2,323) (9,989) Income before income taxes 36,631 (213) (30) (2,791) 33,597 Income tax provision 13,045 - - - 13,045 Net income 23,586 (213) (30) (2,791) 20,552 Net income attributable to noncontrolling interests (79) (213) (30) (2,791) (3,113) Net income attributable to GAMCO $ 23,665 $ - $ - $ - $ 23,665 Nine Months Ended September 30, 2015 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 303,139 $ (26) $ (4) $ (14) $ 303,095 Total expenses 197,828 95 50 32 198,005 Operating income 105,311 (121) (54) (46) 105,090 Total other income/(expense), net (3,016) (177) (102) 9 (3,286) Income before income taxes 102,295 (298) (156) (37) 101,804 Income tax provision 38,547 - - - 38,547 Net income 63,748 (298) (156) (37) 63,257 Net loss attributable to noncontrolling interests (98) (298) (156) (37) (589) Net income attributable to GAMCO $ 63,846 $ - $ - $ - $ 63,846 Nine Months Ended September 30, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 324,287 $ (21) $ (2) $ (633) $ 323,631 Total expenses 205,207 34 38 730 206,009 Operating income 119,080 (55) (40) (1,363) 117,622 Total other income, net 6,172 20 19 (1,186) 5,025 Income before income taxes 125,252 (35) (21) (2,549) 122,647 Income tax provision 44,796 - - - 44,796 Net income 80,456 (35) (21) (2,549) 77,851 Net income/(loss) attributable to noncontrolling interests (113) (35) (21) (2,549) (2,718) Net income attributable to GAMCO $ 80,569 $ - $ - $ - $ 80,569 Variable Interest Entities We sponsor a number of investment vehicles where we are the general partner or investment manager. Certain of these vehicles are VIEs, but we are not the primary beneficiary, in all but two cases, because we do not absorb a majority of the entities' expected losses and/or expected returns, and they are, therefore, not consolidated. We consolidate the two VIEs where we are the primary beneficiary. The Company has not provided any financial or other support to those VIEs where we are not the primary beneficiary. The total net assets of these non-consolidated VIEs at September 30, 2015, December 31, 2014 and September 30, 2014 were $65.8 million, $71.6 million and $59.8 million, respectively. On September 30, 2015, the maximum exposure to loss as a result of our involvement with the non-consolidated VIEs is limited to the investment in one VIE of $9.6 million and the deferred carried interest that we have in another of $38,000 which was included in investments in partnerships on the condensed consolidated statements of financial condition. On December 31, 2014 and September 30, 2014, our maximum exposure to loss as a result of our involvement with the non-consolidated VIEs is limited to the investment in two VIEs of $10.6 million and $8.6 million, respectively, and the deferred carried interest that we have in another of $43,000 and $44,000, respectively, which was included in investments in partnerships on the condensed consolidated statements of financial condition. Additionally, as the general partner or investment manager to these VIEs the Company earns fees in relation to these roles, which given a decline in AUMs of the VIEs would result in lower fee revenues earned by the Company which would be reflected on the condensed consolidated statement of income, condensed consolidated statement of financial condition and condensed consolidated statement of cash flows. The assets of these VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to the VIEs that are consolidated and are included on the condensed consolidated statements of financial condition as well as GAMCO's net interest in the VIEs. There are two VIEs consolidated at September 30, 2015 and one VIE consolidated at December 31, 2014 and September 30, 2014: September 30, 2015 December 31, 2014 September 30, 2014 (In thousands) Cash and cash equivalents $ 13 $ - $ 1 Investments in securities 709 - - Investments in partnerships 5,116 13,434 13,618 Receivable from brokers 25 - - Other assets 3 - - Payable to brokers (62) - - Securities sold, not yet purchased (206) - - Accrued expenses and other liabilities (27) (12) (15) Redeemable noncontrolling interests (615) (794) (962) GAMCO's net interests in consolidated VIE $ 4,956 $ 12,628 $ 12,642

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Taxes [Abstract]
Income Taxes	E. Income Taxes The effective tax rate ("ETR) for the three months ended September 30, 2015 and September 30, 2014 was 39.0% and 38.8%, respectively. The effective tax rate for the nine months ended September 30, 2015 was 37.9% compared to 36.5% for the prior year nine month period. During the nine month period ended September 30, 2014 we benefitted from the donation of appreciated securities used to fund our shareholder designated charitable contribution program.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share	F. Earnings Per Share The Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2015 2014 2015 2014 Basic: Net income attributable to GAMCO Investors, Inc.'s shareholders $ 14,969 $ 23,665 $ 63,846 $ 80,569 Weighted average shares outstanding 24,947 25,296 25,047 25,385 Basic net income attributable to GAMCO Investors, Inc.'s shareholders per share $ 0.60 $ 0.94 $ 2.55 $ 3.17 Diluted: Net income attributable to GAMCO Investors, Inc.'s shareholders $ 14,969 $ 23,665 $ 63,846 $ 80,569 Weighted average share outstanding 24,947 25,296 25,047 25,385 Dilutive stock options and restricted stock awards 294 221 290 210 Total 25,241 25,517 25,337 25,595 Diluted net income attributable to GAMCO Investors, Inc.'s shareholders per share $ 0.59 $ 0.93 $ 2.52 $ 3.15

Debt

Debt	9 Months Ended
	Sep. 30, 2015
Debt [Abstract]
Debt	G. Debt Debt consists of the following: September 30, 2015 December 31, 2014 September 30, 2014 Carrying Fair Value Carrying Fair Value Carrying Fair Value Value Level 2 Value Level 2 Value Level 2 (In thousands) 5.875% Senior notes $ 100,000 $ 106,625 $ 100,000 $ 110,123 $ 100,000 $ 108,200 0% Subordinated debentures 6,750 6,800 12,163 13,000 11,941 12,775 Total $ 106,750 $ 113,425 $ 112,163 $ 123,123 $ 111,941 $ 120,975 5.875% Senior notes On May 31, 2011, the Company issued 10-year, $100 million senior notes. The notes mature on June 1, 2021 and bear interest at 5.875% per annum, payable semi-annually on June 1 and December 1 of each year and commenced on December 1, 2011. Upon the occurrence of a change of control triggering event, as defined in the indenture, the Company would be required to offer to repurchase the notes at 101% of their principal amount. Zero coupon Subordinated debentures due December 31, 2015 On December 31, 2010, the Company issued $86.4 million in par value of five year zero coupon subordinated debentures due December 31, 2015 ("Debentures") to its shareholders of record on December 15, 2010 through the declaration of a special dividend of $3.20 per share. The Debentures have a par value of $100 and are callable at the option of the Company, in whole or in part, at any time or from time to time, at a redemption price equal to 100% of the principal amount of the Debentures to be redeemed. During the three month period ended September 30, 2015 and September 30, 2014 the Company repurchased 16 Debentures and 1,032 Debentures, respectively, having a face value of $1,600 and $0.1 million, respectively. The redemptions were accounted for as extinguishments of debt and resulted in losses of less than $1,000 and $10,000, respectively, which were included in net gain from investments on the condensed consolidated statements of income. During the nine month periods ended September 30, 2015 and September 30, 2014, the Company repurchased 62,242 Debentures and 7,165 Debentures, respectively, having a face value of $6.2 million and $0.7 million, respectively. The redemptions were accounted for as extinguishments of debt and resulted in losses of $310,000 and $84,000, respectively. The debt is being accreted to its face value using the effective rate on the date of issuance of 7.45%. At September 30, 2015, December 31, 2014 and September 30, 2014, the debt was recorded at its accreted value of $6.8 million, $12.2 million and $11.9 million, respectively. The fair value of the Company's debt, which is a Level 2 valuation, is estimated based on either quoted market prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities or using market standard models. Inputs in these standard models include credit rating, maturity and interest rate. On May 4, 2015, the Securities and Exchange Commission ("SEC") declared effective the "shelf" registration statement filed by the Company. The "shelf" provides the Company with the flexibility of issuing any combination of senior and subordinated debt securities, convertible securities and common and preferred securities up to a total amount of $500 million and replaced the existing shelf registration which expired in May 2015. As of September 30, 2015, $500 million is available on the shelf.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity [Abstract]
Stockholders' Equity	H. Stockholders' Equity Shares outstanding were 25.5 million, 25.9 million and 25.9 million on September 30, 2015, December 31, 2014 and September 30, 2014, respectively. Dividends Payment Record Date Date Amount Three months ended March 31, 2015 March 31, 2015 March 17, 2015 $ 0.07 Three months ended June 30, 2015 June 30, 2015 June 16, 2015 0.07 Three months ended September 30, 2015 September 29, 2015 September 15, 2015 0.07 Nine months ended September 30, 2015 $ 0.21 Three months ended March 31, 2014 March 25, 2014 March 11, 2014 $ 0.06 Three months ended June 30, 2014 June 24, 2014 June 10, 2014 0.06 Three months ended September 30, 2014 September 30, 2014 September 16, 2014 0.06 Nine months ended September 30, 2014 $ 0.18 Voting Rights The holders of Class A Common stock ("Class A Stock") and Class B Common stock ("Class B Stock") have identical rights except that (i) holders of Class A Stock are entitled to one vote per share, while holders of Class B Stock are entitled to ten votes per share on all matters to be voted on by shareholders in general, and (ii) holders of Class A Stock are not eligible to vote on matters relating exclusively to Class B Stock and vice versa. Stock Award and Incentive Plan The Company maintains two Plans approved by the shareholders, which are designed to provide incentives which will attract and retain individuals key to the success of GBL through direct or indirect ownership of our common stock. Benefits under the Plans may be granted in any one or a combination of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents and other stock or cash based awards. A maximum of 3.5 million shares of Class A Stock have been reserved for issuance under the Plans by a committee of the Board of Directors responsible for administering the Plans ("Compensation Committee"). Under the Plans, the committee may grant RSAs and either incentive or nonqualified stock options with a term not to exceed ten years from the grant date and at an exercise price that the committee may determine. On December 23, 2014, September 15, 2014 and January 9, 2014, the Company approved the granting of 73,000 RSA shares, 83,500 RSA shares and 2,100 RSA shares, respectively, at a grant date fair value of $87.99 per share, $73.41 per share and $81.99 per share, respectively. As of September 30, 2015, December 31, 2014 and September 30, 2014, there were 688,550 RSA shares, 710,750 RSA shares and 639,750 RSA shares outstanding, respectively, that were previously issued at an average weighted grant price of $67.34, $67.45 and $65.12, respectively. All grants of the RSA shares were recommended by the Company's Chairman, who did not receive a RSA, and approved by the Compensation Committee. This expense, net of estimated forfeitures, is recognized over the vesting period for these awards which is either (1) 30% over three years from the date of grant and 70% over five years from the date of grant or (2) 30% over three years from the date of grant and 10% each year over years four through ten from the date of grant. During the vesting period, dividends to RSA holders are held for them until the RSA vesting dates and are forfeited if the grantee is no longer employed by the Company on the vesting dates. Dividends declared on these RSAs, less estimated forfeitures, are charged to retained earnings on the declaration date. For the three months ended September 30, 2015 and September 30, 2014, we recognized stock-based compensation expense of $2.3 million and $1.8 million, respectively. For the nine months ended September 30, 2015 and September 30, 2014, we recognized stock-based compensation expense of $6.8 million and $5.2 million, respectively. Actual and projected stock-based compensation expense for RSA shares and options for the years ended December 31, 2015 through December 31, 2024 (based on awards currently issued or granted) is as follows (in thousands): 2014 2015 2016 2017 2018 2019 Q1 $ 1,700 $ 2,277 $ 1,681 $ 1,143 $ 770 $ 612 Q2 1,697 2,267 1,681 1,143 748 612 Q3 1,785 2,275 1,327 1,013 669 547 Q4 2,017 7,981 1,150 883 613 501 Full Year $ 7,199 $ 14,800 $ 5,839 $ 4,182 $ 2,800 $ 2,272 2020 2021 2022 2023 2024 Q1 $ 350 $ 227 $ 146 $ 76 $ 12 Q2 319 227 146 76 12 Q3 264 179 104 38 9 Q4 227 145 76 11 - Full Year $ 1,160 $ 778 $ 472 $ 201 $ 33 The total compensation cost related to non-vested options not yet recognized is approximately $25.7 million as of September 30, 2015. There were no options exercised for the three months ended September 30, 2015 or September 30, 2014. For the nine months ended September 30, 2015 and September 30, 2014, proceeds from the exercise of 26,000 stock options and 40,000 stock options, respectively, were $1.2 million and $1.6 million, respectively, resulting in a tax benefit to GAMCO of $0.1 million and $0.3 million, respectively. Stock Repurchase Program In March 1999, GAMCO's Board of Directors established the Stock Repurchase Program to grant management the authority to repurchase shares of our Class A Common Stock. On August 4, 2015, our Board of Directors authorized an incremental 500,000 shares to be added to the current buyback authorization. For the three months ended September 30, 2015 and September 30, 2014, the Company repurchased 172,007 shares and 94,942 shares, respectively, at an average price per share of $61.11 and $77.67, respectively. For the nine months ended September 30, 2015 and September 30, 2014, the Company repurchased 321,488 shares and 319,662 shares, respectively, at an average price per share of $66.96 and $78.43, respectively. From the inception of the program through September 30, 2015, 9,447,513 shares have been repurchased at an average price of $44.70 per share. At September 30, 2015, the total shares available under the program to be repurchased in the future were 687,295.

Goodwill and Identifiable Intan

Goodwill and Identifiable Intangible Assets	9 Months Ended
	Sep. 30, 2015
Goodwill and Identifiable Intangible Assets [Abstract]
Goodwill and Identifiable Intangible Assets	I. Goodwill and Identifiable Intangible Assets At September 30, 2015, $3.5 million of goodwill is reflected within other assets on the condensed consolidated statements of financial condition with $3.3 million related to a 94%-owned subsidiary, Gabelli Securities, Inc. and $0.2 million related to G.distributors, LLC. The Company assesses the recoverability of goodwill at least annually, or more often should events warrant, using a qualitative assessment of whether it is more likely than not that an impairment has occurred to determine if a quantitative analysis is required. There were no indicators of impairment for the three months ended September 30, 2015 or September 30, 2014, and as such there was no impairment analysis performed or charge recorded. As a result of becoming the advisor to the Gabelli Enterprise Mergers and Acquisitions Fund and the associated consideration paid, the Company maintains an identifiable intangible asset of $1.9 million within other assets on the condensed consolidated statements of financial condition at September 30, 2015, December 31, 2014 and September 30, 2014. The investment advisory agreement is subject to annual renewal by the fund's Board of Directors, which the Company expects to be renewed, and the Company does not expect to incur additional expense as a result, which is consistent with other investment advisory agreements entered into by the Company. The advisory contract is next up for renewal in February 2016. The Company assesses the recoverability of this intangible asset at least annually, or more often should events warrant. There were no indicators of impairment for the three months ended September 30, 2015 or September 30, 2014, and as such there was no impairment analysis performed or charge recorded.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies	J. Commitments and Contingencies From time to time, the Company may be named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. The Company is also subject to governmental or regulatory examinations or investigations. The examinations or investigations could result in adverse judgments, settlements, fines, injunctions, restitutions or other relief. For any such matters, the condensed consolidated financial statements include the necessary provisions for losses that the Company believes are probable and estimable. Furthermore, the Company evaluates whether there exist losses which may be reasonably possible and will, if material, make the necessary disclosures. However, management believes such amounts, both those that are probable and those that are reasonably possible, are not material to the Company's financial condition, operations or cash flows at September 30, 2015. The Company indemnifies the clearing brokers of G.research, Inc., our broker-dealer subsidiary, for losses they may sustain from the customer accounts that trade on margin introduced by it. At September 30, 2015, the total amount of customer balances subject to indemnification (i.e. unsecured margin debits) was immaterial. The Company also has entered into arrangements with various other third parties many of which provide for indemnification of the third parties against losses, costs, claims and liabilities arising from the performance of obligations under the agreements. The Company has had no claims or payments pursuant to these or prior agreements and believes the likelihood of a claim being made is remote. The Company's estimate of the value of such agreements is de minimis, and therefore an accrual has not been made on the condensed consolidated financial statements.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events	K. Subsequent Events From October 1, 2015 to November 4, 2015, the Company repurchased 91,740 shares at $57.53 per share. On October 12, 2015, the Board of Directors accelerated the lapse of restrictions on the November 2013 grant of restricted stock awards ("RSAs") effective on October 19, 2015. There were 130,650 RSAs outstanding relating to this grant. As a result of the acceleration, GAMCO will incur a fourth quarter non-cash charge of $5.7 million or $0.13 per diluted share (after management fee and tax benefit). 557,900 RSAs will still remain outstanding after the acceleration of the November 2013 grant. On October 13, 2015 GAMCO announced that it had again adopted a Shareholder Designated Charitable Contribution program for all registered Class A and Class B shareholders. Based on the approximately 21 million shares currently registered in shareholders' names, the total contribution GAMCO is expected to make will be $5.3 million. If all shares outstanding are registered in their shareholders' name at the record date, the total contribution would increase to $6.4 million. On November 2, 2015, GAMCO announced that its Board of Directors had approved the spin-off of Associated Capital Group, Inc. (“AC”), which will include GAMCO’s alternative investment management business, its institutional research services business and financial assets. The distribution is expected to occur at 11:59 p.m. on November 30, 2015 with GAMCO shareholders receiving one share of Associated Capital Group class A common stock for each share of GAMCO class A common stock held on November 12, 2015, the record date, and one share of Associated Capital Group class B common stock for each share of GAMCO class B common stock held on the record date. On November 4, 2015, the Board of Directors declared its regular quarterly dividend of $0.07 per share to all of its shareholders, payable on December 29, 2015 to shareholders of record on December 15, 2015. GAMCO has received a commitment from a related party whereby it will provide to GAMCO a single purpose $100 million line of credit to be drawn upon only to prepay any or all of the outstanding 5.875% Senior Notes (due June 1, 2021). This line of credit will be available for drawdown during a 90 day period to commence on a date to be determined.

Significant Accounting Polici22

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Unless we have indicated otherwise, or the context otherwise requires, references in this report to "GAMCO Investors, Inc.," "GAMCO," "the Company," "GBL," "we," "us" and "our" or similar terms are to GAMCO Investors, Inc., its predecessors and its subsidiaries. The unaudited interim condensed consolidated financial statements of GAMCO included herein have been prepared in conformity with generally accepted accounting principles ("GAAP") in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by U.S. GAAP in the United States for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair presentation of financial position, results of operations and cash flows of GAMCO for the interim periods presented and are not necessarily indicative of a full year's results. The interim condensed consolidated financial statements include the accounts of GAMCO and its subsidiaries. Intercompany accounts and transactions are eliminated. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2014 from which the accompanying condensed consolidated financial statements were derived.
Use of Estimates	Use of Estimates The preparation of the interim condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported on the interim condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Recent Accounting Developments	Recent Accounting Developments In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in the Accounting Standards Codification ("Codification") Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the Codification. The core principle of the new ASU No. 2014-09 is for companies to recognize revenue from the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods and is to be retrospectively applied. Early adoption is not permitted. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In June 2014, the FASB issued an accounting update clarifying that entities should treat performance targets that could be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. Therefore, an entity would not record compensation expense (measured as of the grant date) for an award where transfer to the employee is contingent upon satisfaction of the performance target until it becomes probable that the performance target will be met. The guidance is effective for the Company beginning January 1, 2016. Early adoption is permitted. This guidance is not expected to have a material impact on the Company's consolidated financial statements. In February 2015, the FASB issued an accounting update amending the consolidation requirements under GAAP. This guidance is effective for the Company beginning January 1, 2016. Early adoption is permitted. The Company is continuing to analyze the impact, if any, that this update may have on its consolidated financial statements. In May 2015, the FASB issued new guidance amending the current disclosure requirements for investments in certain entities that calculate net asset value per share. The guidance requires investments for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy. Instead, those investment amounts shall be provided as a separate item to permit reconciliation of the fair value of investments included in the fair value hierarchy to the line items presented in the statement of financial condition. This new guidance will be effective for the Company's first quarter of 2016. The Company is currently evaluating the potential impact on its consolidated financial statements and related disclosures.

Investment in Securities (Table

Investment in Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Investment in Securities [Abstract]
Investments in securities	Investments in securities at September 30, 2015, December 31, 2014 and September 30, 2014 consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ - $ - $ 18,994 $ 18,996 $ 20,995 $ 20,999 Common stocks 78,025 87,745 170,977 195,029 167,714 190,939 Mutual funds 2,504 3,180 2,432 3,498 2,416 3,373 Other investments 505 723 743 1,704 753 1,550 Total trading securities 81,034 91,648 193,146 219,227 191,878 216,861 Available for sale securities: Common stocks 13,561 34,095 13,637 38,942 14,228 36,380 Mutual funds 627 1,174 681 1,368 681 1,389 Total available for sale securities 14,188 35,269 14,318 40,310 14,909 37,769 Total investments in securities $ 95,222 $ 126,917 $ 207,464 $ 259,537 $ 206,787 $ 254,630
Securities sold, not yet purchased	Securities sold, not yet purchased at September 30, 2015, December 31, 2014 and September 30, 2014 consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Proceeds Fair Value Proceeds Fair Value Proceeds Fair Value Trading securities: (In thousands) Common stocks $ 6,123 $ 5,482 $ 9,835 $ 9,960 $ 11,699 $ 13,514 Other investments 8 95 1 635 71 666 Total securities sold, not yet purchased $ 6,131 $ 5,577 $ 9,836 $ 10,595 $ 11,770 $ 14,180
Investments in sponsored registered investment companies	Investments in sponsored registered investment companies at September 30, 2015, December 31,2014 and September 30, 2014 consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,097 $ 41,820 $ 1 $ 1 $ 1 $ 1 Total trading securities 40,097 41,820 1 1 1 1 Available for sale securities: Closed-end funds 63,068 70,349 21,962 36,323 21,819 36,142 Mutual funds 1,883 2,877 1,898 3,213 1,922 3,377 Total available for sale securities 64,951 73,226 23,860 39,536 23,741 39,519 Total investments in sponsored registered investment companies $ 105,048 $ 115,046 $ 23,861 $ 39,537 $ 23,742 $ 39,520
Reclassifications out of accumulated other comprehensive income	The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") into income for the three and nine months ended September 30, 2015 and 2014 (in thousands): Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Three months ended September 30, 2015 2014 $ - $ 348 Net gain/(loss) from investments Realized gain on sale of AFS securities 45 - Other operating expenses/net gain from investments Realized gain on donation of AFS securities (150 ) - Net gain/(loss) from investments OTT impairment of AFS securities (105 ) 348 Income before income taxes 39 (129 ) Income tax provision $ (66 ) $ 219 Net income Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Nine months ended September 30, 2015 2014 $ 30 $ 3,511 Net gain/(loss) from investments Realized gain on sale of AFS securities 80 3,639 Other operating expenses/net gain from investments Realized gain on donation of AFS securities (150 ) (69 ) Net gain/(loss) from investments OTT impairment of AFS securities (40 ) 7,081 Income before income taxes 15 (2,620 ) Income tax provision $ (25 ) $ 4,461 Net income
Schedule of derivative instruments in statement of financial position, fair value	Asset Derivatives Fair Value Liability Derivatives Fair Value Balance Sheet Location September 30, 2015 December 31, 2014 September 30, 2014 Balance Sheet Location September 30, 2015 December 31, 2014 September 30, 2014 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ - $ - $ - Payable to brokers $ 36,354 $ - $ - Sub total $ - $ - $ - $ 36,354 $ - $ - Derivatives Not Designated As Hedging Instruments Under Fasb Asc 815-20 Investments in Securities sold, Equity contracts securities $ 143 $ 896 $ 800 not yet purchased $ 95 $ 635 $ 666 Foreign exchange contracts Receivable from brokers - - - Payable to brokers 5,172 5,470 6,343 Sub total $ 143 $ 896 $ 800 $ 5,267 $ 6,105 $ 7,009 Total derivatives $ 143 $ 896 $ 800 $ 41,621 $ 6,105 $ 7,009
Schedule of derivative instruments, gain (loss)	Type of Derivative Income Statement Location Three Months ended September 30, Nine Months ended September 30, 2015 2014 2015 2014 Foreign exchange contracts Net gain/(loss) from investments $ 1,985 $ 482 $ 1,885 $ 541 Equity contracts Net gain/(loss) from investments 27 758 199 591 Total $ 2,012 $ 1,240 $ 2,084 $ 1,132
Master netting arrangements for swaps	The Company is a party to enforceable master netting arrangements for swaps entered into as part of the investment strategy of the Company's proprietary portfolio. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, major U.S. financial institutions, are shown gross in assets and liabilities on the condensed consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Assets Presented Recognized Statements of in the Statements of Financial Cash Collateral Assets Financial Condition Financial Condition Instruments Received Net Amount Swaps: (in thousands) September 30, 2015 $ 143 $ - $ 143 $ (89 ) $ - $ 54 December 31, 2014 896 - 896 (634 ) - 262 September 30, 2014 $ 800 $ - $ 800 $ (657 ) $ - $ 143 Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Liabilities Presented Recognized Statements of in the Statements of Financial Cash Collateral Liabilities Financial Condition Financial Condition Instruments Pledged Net Amount Swaps: (in thousands) September 30, 2015 $ 89 $ - $ 89 $ (89 ) $ - $ - December 31, 2014 634 - 634 (634 ) - - September 30, 2014 $ 657 $ - $ 657 $ (657 ) $ - $ -
Summary of Available-for-sale Securities	The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available for sale investments as of September 30, 2015, December 31, 2014 and September 30, 2014: September 30, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,561 $ 20,534 $ - $ 34,095 Closed-end Funds 63,068 10,128 (2,847 ) 70,349 Mutual funds 2,510 1,620 (79 ) 4,051 Total available for sale securities $ 79,139 $ 32,282 $ (2,926 ) $ 108,495 December 31, 2014 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,637 $ 25,305 $ - $ 38,942 Closed-end Funds 21,962 14,398 (37 ) 36,323 Mutual funds 2,579 2,030 (28 ) 4,581 Total available for sale securities $ 38,178 $ 41,733 $ (65 ) $ 79,846 September 30, 2014 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 14,228 $ 22,152 $ - $ 36,380 Closed-end Funds 21,819 14,325 (2 ) 36,142 Mutual funds 2,603 2,163 - 4,766 Total available for sale securities $ 38,650 $ 38,640 $ (2 ) $ 77,288
Investments classified as available for sale unrealized loss position	Investments classified as available for sale that are in an unrealized loss position for which other-than-temporary impairment has not been recognized consisted of the following: September 30, 2015 December 31, 2014 September 30, 2014 Unrealized Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value Cost Losses Fair Value (in thousands) Cosed-end funds $ 40,537 $ (2,847 ) $ 37,690 $ 812 $ (37 ) $ 775 $ 79 $ (2 ) $ 77 Mutual Funds 303 (79 ) 224 303 (28 ) 275 - - - Total available for sale securities $ 40,840 $ (2,926 ) $ 37,914 $ 1,115 $ (65 ) $ 1,050 $ 79 $ (2 ) $ 77

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present information about the Company's assets and liabilities by major categories measured at fair value on a recurring basis as of September 30, 2015, December 31, 2014 and September 30, 2014 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of September 30, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable September 30, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2015 Cash equivalents $ 425,392 $ - $ - $ 425,392 Investments in partnerships - 14,319 - 14,319 Investments in securities: AFS - Common stocks 34,095 - - 34,095 AFS - Mutual funds 1,174 - - 1,174 Trading - Common stocks 86,970 - 775 87,745 Trading - Mutual funds 3,180 - - 3,180 Trading - Other 263 143 317 723 Total investments in securities 125,682 143 1,092 126,917 Investments in sponsored registered investment companies: AFS - Closed-end Funds 70,349 - - 70,349 AFS - Mutual Funds 2,877 - - 2,877 Trading - Mutual funds 41,820 - - 41,820 Total investments in sponsored registered investment companies 115,046 - - 115,046 Total investments 240,728 14,462 1,092 256,282 Total assets at fair value $ 666,120 $ 14,462 $ 1,092 $ 681,674 Liabilities Trading - Common stocks $ 5,482 $ - $ - $ 5,482 Trading - Other - 95 - 95 Securities sold, not yet purchased $ 5,482 $ 95 $ - $ 5,577 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2014 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2014 Cash equivalents $ 297,971 $ - $ - $ 297,971 Investments in partnerships - 23,803 - 23,803 Investments in securities: AFS - Common stocks 38,942 - - 38,942 AFS - Mutual funds 1,368 - - 1,368 Trading - Gov't obligations 18,996 - - 18,996 Trading - Common stocks 193,735 1 1,293 195,029 Trading - Mutual funds 3,498 - - 3,498 Trading - Other 513 897 294 1,704 Total investments in securities 257,052 898 1,587 259,537 Investments in sponsored registered investment companies: AFS - Closed-end Funds 36,323 - - 36,323 AFS - Mutual Funds 3,213 - - 3,213 Trading - Mutual funds 1 - - 1 Total investments in sponsored registered investment companies 39,537 - - 39,537 Total investments 296,589 24,701 1,587 322,877 Total assets at fair value $ 594,560 $ 24,701 $ 1,587 $ 620,848 Liabilities Trading - Common stocks $ 9,960 $ - $ - $ 9,960 Trading - Other - 635 - 635 Securities sold, not yet purchased $ 9,960 $ 635 $ - $ 10,595 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of September 30, 2014 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable September 30, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2014 Cash equivalents $ 358,210 $ - $ - $ 358,210 Investments in partnerships - 24,094 - 24,094 Investments in securities: AFS - Common stocks 36,380 - - 36,380 AFS - Mutual funds 1,389 - - 1,389 Trading - Gov't obligations 20,999 - - 20,999 Trading - Common stocks 190,215 - 724 190,939 Trading - Mutual funds 3,373 - - 3,373 Trading - Other 453 803 294 1,550 Total investments in securities 252,809 803 1,018 254,630 Investments in sponsored registered investment companies: AFS - Closed-end Funds 36,142 - - 36,142 AFS - Mutual Funds 3,377 - - 3,377 Trading - Mutual funds 1 - - 1 Total investments in sponsored registered investment companies 39,520 - - 39,520 Total investments 292,329 24,897 1,018 318,244 Total assets at fair value $ 650,539 $ 24,897 $ 1,018 $ 676,454 Liabilities Trading - Common stocks $ 13,514 $ - $ - $ 13,514 Trading - Other - 666 - 666 Securities sold, not yet purchased $ 13,514 $ 666 $ - $ 14,180
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present additional information about assets by major categories measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended September 30, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized June Unrealized Gains or Included in and Transfers 30, 2015 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 920 $ (145 ) $ - $ - $ (145 ) $ - $ - $ - $ 775 Trading - Other 298 19 - - 19 - - - 317 Total $ 1,218 $ (126 ) $ - $ - $ (126 ) - $ - $ - $ 1,092 There were no transfers between any Levels during the three months ended September 30, 2015. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended September 30, 2014 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized June Unrealized Gains or Included in and Transfers 30, 2014 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 716 $ 8 $ - $ - $ 8 $ - $ - $ - $ 724 Trading - Other 294 - - - - - - - 294 Total $ 1,010 $ 8 $ - $ - $ 8 $ - $ - $ - $ 1,018 There were no transfers between any Levels during the three months ended September 30, 2014. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Nine Months Ended September 30, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2014 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 1,293 $ (166 ) $ - $ - $ (166 ) $ 6 $ (358 ) $ - $ 775 Trading - Other 294 102 - - 102 5 (84 ) - 317 Total $ 1,587 $ (64 ) $ - $ - $ (64 ) 11 $ (442 ) $ - $ 1,092 There were securities with a value of $0.4 million that were transferred out of Level 3 as a result of the deconsolidation of an offshore fund during the first quarter of 2015 which are reflected in sales above. There were no transfers between Levels 1 or 2 during the nine months ended September 30, 2015. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Nine Months Ended September 30, 2014 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2013 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 700 $ 24 $ - $ - $ 24 $ - $ - $ - $ 724 Trading - Other 284 - - - - 10 - - 294 Total $ 984 $ 24 $ - $ - $ 24 $ 10 $ - $ - $ 1,018 There were no transfers between any Levels during the nine months ended September 30, 2014.

Investments in Partnerships, 25

Investments in Partnerships, Offshore Funds and Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2015
Investments in Partnerships, Offshore Funds and Variable Interests [Abstract]
Schedule of Number of Entities Consolidated	The following table highlights the number of entities, including voting interest entities ("VOEs"), that we consolidate as well as under which accounting guidance they are consolidated, including CFFs, which retain their specialized investment company accounting in consolidation, partnerships and offshore funds. Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs Entities consolidated at December 31, 2013 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at September 30, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - 1 - 1 1 - 1 2 Deconsolidated entities - (1) - - - (1) - (2) Entities consolidated at September 30, 2015 1 2 - 2 1 - 2 4
Investments in Partnerships by Accounting Method	The following table breaks down the investments in partnerships line by accounting method, either fair value or equity method, and investment type (in thousands): September 30, 2015 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 14,317 $ - $ - $ - $ - $ 14,317 Equity Method - 38,318 34,552 6,286 7,552 86,708 Total $ 14,317 $ 38,318 $ 34,552 $ 6,286 $ 7,552 $ 101,025 December 31, 2014 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 23,803 $ - $ - $ - $ - $ 23,803 Equity Method - 34,385 36,033 6,552 6,864 83,834 Total $ 23,803 $ 34,385 $ 36,033 $ 6,552 $ 6,864 $ 107,637 September 30, 2014 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 24,094 $ - $ - $ - $ - $ 24,094 Equity Method - 34,967 34,185 6,611 7,577 83,340 Total $ 24,094 $ 34,967 $ 34,185 $ 6,611 $ 7,577 $ 107,434
Condensed Consolidated Statements Of Financial Condition By Entity Consolidated	The following table includes the net impact by line item on the condensed consolidated statements of financial condition for each category of entity consolidated (in thousands): September 30, 2015 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 425,549 $ 2 $ 52 $ 13 $ 425,616 Investments in securities 118,401 - 7,807 709 126,917 Investments in sponsored investment companies 115,046 - - - 115,046 Investments in partnerships 105,097 4,817 (8,504) (385) 101,025 Receivable from brokers 50,960 - 1,933 25 52,918 Investment advisory fees receivable 28,615 5 9 - 28,629 Other assets 22,363 16 137 2 22,518 Total assets $ 866,031 $ 4,840 $ 1,434 $ 364 $ 872,669 Liabilities and equity Securities sold, not yet purchased $ 5,231 $ - $ 140 $ 206 $ 5,577 Accrued expenses and other liabilities 188,770 38 155 81 189,044 Total debt 106,750 - - - 106,750 Redeemable noncontrolling interests - 4,802 1,139 77 6,018 Total equity 565,280 - - - 565,280 Total liabilities and equity $ 866,031 $ 4,840 $ 1,434 $ 364 $ 872,669 December 31, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 298,149 $ (11) $ 86 $ - $ 298,224 Investments in securities 200,443 - 7,801 51,293 259,537 Investments in sponsored investment companies 39,537 - - - 39,537 Investments in partnerships 111,380 4,438 (8,181) - 107,637 Receivable from brokers 24,301 - 623 51,155 76,079 Investment advisory fees receivable 42,102 (6) (2) (222) 41,872 Other assets 43,393 - - 151 43,544 Total assets $ 759,305 $ 4,421 $ 327 $ 102,377 $ 866,430 Liabilities and equity Securities sold, not yet purchased $ 9,991 $ - $ - $ 604 $ 10,595 Accrued expenses and other liabilities 109,356 22 24 38,141 147,543 Total debt 112,163 - - - 112,163 Redeemable noncontrolling interests - 4,399 303 63,632 68,334 Total equity 527,795 - - - 527,795 Total liabilities and equity $ 759,305 $ 4,421 $ 327 $ 102,377 $ 866,430 September 30, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 358,316 $ 7 $ 98 $ - $ 358,421 Investments in securities 203,280 - 8,836 42,514 254,630 Investments in sponsored investment companies 39,520 - - - 39,520 Investments in partnerships 110,679 4,684 (7,929) - 107,434 Receivable from brokers 31,388 - 306 48,191 79,885 Investment advisory fees receivable 31,221 17 (1) (82) 31,155 Other assets 28,528 24 (1,000) 163 27,715 Total assets $ 802,932 $ 4,732 $ 310 $ 90,786 $ 898,760 Liabilities and equity Securities sold, not yet purchased $ 13,549 $ - $ - $ 631 $ 14,180 Accrued expenses and other liabilities 166,209 71 31 39,009 205,320 Total debt 111,941 - - - 111,941 Redeemable noncontrolling interests - 4,661 279 51,146 56,086 Total equity 511,233 - - - 511,233 Total liabilities and equity $ 802,932 $ 4,732 $ 310 $ 90,786 $
Condensed Consolidated Statements Of Income By Entity Consolidated	The following table includes the net impact by line item on the condensed consolidated statements of income for each category of entity consolidated (in thousands): Three Months Ended September 30, 2015 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 96,558 $ (10) $ (2) $ - $ 96,546 Total expenses 60,304 23 20 3 60,350 Operating income 36,254 (33) (22) (3) 36,196 Total other income/(expense), net (12,093) (268) (120) (19) (12,500) Income before income taxes 24,161 (301) (142) (22) 23,696 Income tax provision 9,245 - - - 9,245 Net income 14,916 (301) (142) (22) 14,451 Net loss attributable to noncontrolling interests (53) (301) (142) (22) (518) Net income attributable to GAMCO $ 14,969 $ - $ - $ - $ 14,969 Three Months Ended September 30, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 111,073 $ (7) $ - $ (208) $ 110,858 Total expenses 66,980 20 12 260 67,272 Operating income 44,093 (27) (12) (468) 43,586 Total other income, net (7,462) (186) (18) (2,323) (9,989) Income before income taxes 36,631 (213) (30) (2,791) 33,597 Income tax provision 13,045 - - - 13,045 Net income 23,586 (213) (30) (2,791) 20,552 Net income attributable to noncontrolling interests (79) (213) (30) (2,791) (3,113) Net income attributable to GAMCO $ 23,665 $ - $ - $ - $ 23,665 Nine Months Ended September 30, 2015 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 303,139 $ (26) $ (4) $ (14) $ 303,095 Total expenses 197,828 95 50 32 198,005 Operating income 105,311 (121) (54) (46) 105,090 Total other income/(expense), net (3,016) (177) (102) 9 (3,286) Income before income taxes 102,295 (298) (156) (37) 101,804 Income tax provision 38,547 - - - 38,547 Net income 63,748 (298) (156) (37) 63,257 Net loss attributable to noncontrolling interests (98) (298) (156) (37) (589) Net income attributable to GAMCO $ 63,846 $ - $ - $ - $ 63,846 Nine Months Ended September 30, 2014 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 324,287 $ (21) $ (2) $ (633) $ 323,631 Total expenses 205,207 34 38 730 206,009 Operating income 119,080 (55) (40) (1,363) 117,622 Total other income, net 6,172 20 19 (1,186) 5,025 Income before income taxes 125,252 (35) (21) (2,549) 122,647 Income tax provision 44,796 - - - 44,796 Net income 80,456 (35) (21) (2,549) 77,851 Net income/(loss) attributable to noncontrolling interests (113) (35) (21) (2,549) (2,718) Net income attributable to GAMCO $ 80,569 $ - $ - $ - $ 80,569
GAMCO's Net Interest in Consolidated VIEs	The assets of these VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to the VIEs that are consolidated and are included on the condensed consolidated statements of financial condition as well as GAMCO's net interest in the VIEs. There are two VIEs consolidated at September 30, 2015 and one VIE consolidated at December 31, 2014 and September 30, 2014: September 30, 2015 December 31, 2014 September 30, 2014 (In thousands) Cash and cash equivalents $ 13 $ - $ 1 Investments in securities 709 - - Investments in partnerships 5,116 13,434 13,618 Receivable from brokers 25 - - Other assets 3 - - Payable to brokers (62) - - Securities sold, not yet purchased (206) - - Accrued expenses and other liabilities (27) (12) (15) Redeemable noncontrolling interests (615) (794) (962) GAMCO's net interests in consolidated VIE $ 4,956 $ 12,628 $ 12,642

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Computations of basic and diluted net income per share	The Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2015 2014 2015 2014 Basic: Net income attributable to GAMCO Investors, Inc.'s shareholders $ 14,969 $ 23,665 $ 63,846 $ 80,569 Weighted average shares outstanding 24,947 25,296 25,047 25,385 Basic net income attributable to GAMCO Investors, Inc.'s shareholders per share $ 0.60 $ 0.94 $ 2.55 $ 3.17 Diluted: Net income attributable to GAMCO Investors, Inc.'s shareholders $ 14,969 $ 23,665 $ 63,846 $ 80,569 Weighted average share outstanding 24,947 25,296 25,047 25,385 Dilutive stock options and restricted stock awards 294 221 290 210 Total 25,241 25,517 25,337 25,595 Diluted net income attributable to GAMCO Investors, Inc.'s shareholders per share $ 0.59 $ 0.93 $ 2.52 $ 3.15

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2015
Debt [Abstract]
Schedule of Debt	Debt consists of the following: September 30, 2015 December 31, 2014 September 30, 2014 Carrying Fair Value Carrying Fair Value Carrying Fair Value Value Level 2 Value Level 2 Value Level 2 (In thousands) 5.875% Senior notes $ 100,000 $ 106,625 $ 100,000 $ 110,123 $ 100,000 $ 108,200 0% Subordinated debentures 6,750 6,800 12,163 13,000 11,941 12,775 Total $ 106,750 $ 113,425 $ 112,163 $ 123,123 $ 111,941 $ 120,975

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity [Abstract]
Dividends	Dividends Payment Record Date Date Amount Three months ended March 31, 2015 March 31, 2015 March 17, 2015 $ 0.07 Three months ended June 30, 2015 June 30, 2015 June 16, 2015 0.07 Three months ended September 30, 2015 September 29, 2015 September 15, 2015 0.07 Nine months ended September 30, 2015 $ 0.21 Three months ended March 31, 2014 March 25, 2014 March 11, 2014 $ 0.06 Three months ended June 30, 2014 June 24, 2014 June 10, 2014 0.06 Three months ended September 30, 2014 September 30, 2014 September 16, 2014 0.06 Nine months ended September 30, 2014 $ 0.18
Actual and projected stock-based compensation expense for RSA shares and options	For the three months ended September 30, 2015 and September 30, 2014, we recognized stock-based compensation expense of $2.3 million and $1.8 million, respectively. For the nine months ended September 30, 2015 and September 30, 2014, we recognized stock-based compensation expense of $6.8 million and $5.2 million, respectively. Actual and projected stock-based compensation expense for RSA shares and options for the years ended December 31, 2015 through December 31, 2024 (based on awards currently issued or granted) is as follows (in thousands): 2014 2015 2016 2017 2018 2019 Q1 $ 1,700 $ 2,277 $ 1,681 $ 1,143 $ 770 $ 612 Q2 1,697 2,267 1,681 1,143 748 612 Q3 1,785 2,275 1,327 1,013 669 547 Q4 2,017 7,981 1,150 883 613 501 Full Year $ 7,199 $ 14,800 $ 5,839 $ 4,182 $ 2,800 $ 2,272 2020 2021 2022 2023 2024 Q1 $ 350 $ 227 $ 146 $ 76 $ 12 Q2 319 227 146 76 12 Q3 264 179 104 38 9 Q4 227 145 76 11 - Full Year $ 1,160 $ 778 $ 472 $ 201 $ 33

Investment in Securities, Inves

Investment in Securities, Investment in Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Available for sale securities:
Available for sale Securities, Cost	$ 79,139	$ 38,178	$ 38,650
Available for sale Securities, Fair Value	108,495	79,846	77,288
Investment in Securities, Fair Value	126,917	259,537	254,630
Investment in Securities [Member]
Available for sale securities:
Investment in Securities, Cost	95,222	207,464	206,787
Investment in Securities, Fair Value	126,917	259,537	254,630
Investment in Securities [Member] | Trading Securities [Member]
Trading securities:
Trading Securities, Cost	81,034	193,146	191,878
Trading Securities, Fair Value	91,648	219,227	216,861
Investment in Securities [Member] | Trading Securities [Member] | Government obligations [Member]
Trading securities:
Trading Securities, Cost	0	18,994	20,995
Trading Securities, Fair Value	0	18,996	20,999
Investment in Securities [Member] | Trading Securities [Member] | Common Stock [Member]
Trading securities:
Trading Securities, Cost	78,025	170,977	167,714
Trading Securities, Fair Value	87,745	195,029	190,939
Investment in Securities [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities:
Trading Securities, Cost	2,504	2,432	2,416
Trading Securities, Fair Value	3,180	3,498	3,373
Investment in Securities [Member] | Trading Securities [Member] | Other Investments [Member]
Trading securities:
Trading Securities, Cost	505	743	753
Trading Securities, Fair Value	723	1,704	1,550
Investment in Securities [Member] | Available-for-sale Securities [Member]
Available for sale securities:
Available for sale Securities, Cost	14,188	14,318	14,909
Available for sale Securities, Fair Value	35,269	40,310	37,769
Investment in Securities [Member] | Available-for-sale Securities [Member] | Common Stock [Member]
Available for sale securities:
Available for sale Securities, Cost	13,561	13,637	14,228
Available for sale Securities, Fair Value	34,095	38,942	36,380
Investment in Securities [Member] | Available-for-sale Securities [Member] | Mutual Funds [Member]
Available for sale securities:
Available for sale Securities, Cost	627	681	681
Available for sale Securities, Fair Value	$ 1,174	$ 1,368	$ 1,389

Investment in Securities, Secur

Investment in Securities, Securities Sold, Not Yet Purchased (Details) - Investment in Securities [Member] - Trading Securities [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Trading Securities:
Cost	$ 6,131	$ 9,836	$ 11,770
Fair Value	5,577	10,595	14,180
Common Stock [Member]
Trading Securities:
Cost	6,123	9,835	11,699
Fair Value	5,482	9,960	13,514
Other Investments [Member]
Trading Securities:
Cost	8	1	71
Fair Value	$ 95	$ 635	$ 666

Investment in Securities, Inv31

Investment in Securities, Investment in Sponsored Registered Investment Companies (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Available for sale securities:
Available for sale Securities, Cost	$ 79,139	$ 38,178	$ 38,650
Available for sale Securities, Fair Value	108,495	79,846	77,288
Investment in Securities, Fair Value	126,917	259,537	254,630
Investment in Sponsored Registered Investment Companies [Member]
Available for sale securities:
Investment in Securities, Cost	105,048	23,861	23,742
Investment in Securities, Fair Value	115,046	39,537	39,520
Investment in Sponsored Registered Investment Companies [Member] | Trading Securities [Member]
Trading securities:
Trading Securities, Cost	40,097	1	1
Trading Securities, Fair Value	41,820	1	1
Investment in Sponsored Registered Investment Companies [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities:
Trading Securities, Cost	40,097	1	1
Trading Securities, Fair Value	41,820	1	1
Investment in Sponsored Registered Investment Companies [Member] | Available-for-sale Securities [Member]
Available for sale securities:
Available for sale Securities, Cost	64,951	23,860	23,741
Available for sale Securities, Fair Value	73,226	39,536	39,519
Investment in Sponsored Registered Investment Companies [Member] | Available-for-sale Securities [Member] | Mutual Funds [Member]
Available for sale securities:
Available for sale Securities, Cost	1,883	1,898	1,922
Available for sale Securities, Fair Value	2,877	3,213	3,377
Investment in Sponsored Registered Investment Companies [Member] | Available-for-sale Securities [Member] | Closed end Funds [Member]
Available for sale securities:
Available for sale Securities, Cost	63,068	21,962	21,819
Available for sale Securities, Fair Value	$ 70,349	$ 36,323	$ 36,142

Investment in Securities, Recla

Investment in Securities, Reclassifications Out of Accumulated Other Comprehensive Income ("AOCI") into Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Amount Reclassified from AOCI [Abstract]
Net gain from investments - Realized gain / (loss) on sale of securities	$ 0	$ 348	$ 30	$ 3,511
Other operating expenses	45	0	80	3,639
Other Comprehensive Income (Loss), Reclassification Adjustment for Write-down of Securities Included in Net Income, before Tax	(150)	0	(150)	(69)
Income before income taxes	(105)	348	(40)	7,081
Income tax provision	39	(129)	15	(2,620)
Net income	$ (66)	$ 219	$ (25)	$ 4,461
Shares under derivative contract (in shares)	170,000	2,300,000	170,000	2,300,000	3,800,000

Investment in Securities, Fair

Investment in Securities, Fair Values and Gains and Losses of All Derivatives Held (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	$ 143	$ 800	$ 143	$ 800	$ 896
Liability derivatives fair value	41,621	7,009	41,621	7,009	6,105
Derivative Instruments, Gain (Loss) [Line Items]
Net gain/(loss) on derivative	2,012	1,240	2,084	1,132
Net Gain/(Loss) From Investments [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain/(loss) on derivative	1,985	482	1,885	541
Net Gain/(Loss) From Investments [Member] | Equity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain/(loss) on derivative	27	758	199	591
Derivatives Designated As Hedging Instruments Under FASB ASC 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0	0	0	0
Liability derivatives fair value	36,354	0	36,354	0	0
Derivatives Designated As Hedging Instruments Under FASB ASC 815-20 [Member] | Receivable From Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0	0	0	0
Derivatives Designated As Hedging Instruments Under FASB ASC 815-20 [Member] | Payable To Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	36,354	0	36,354	0	0
Derivatives Not Designated As Hedging Instruments Under Fasb Asc 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	143	800	143	800	896
Liability derivatives fair value	5,267	7,009	5,267	7,009	6,105
Derivatives Not Designated As Hedging Instruments Under Fasb Asc 815-20 [Member] | Receivable From Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0	0	0	0
Derivatives Not Designated As Hedging Instruments Under Fasb Asc 815-20 [Member] | Payable To Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	5,172	6,343	5,172	6,343	5,470
Derivatives Not Designated As Hedging Instruments Under Fasb Asc 815-20 [Member] | Investments In Securities [Member] | Equity Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	143	800	143	800	896
Derivatives Not Designated As Hedging Instruments Under Fasb Asc 815-20 [Member] | Securities Sold, Not yet Purchased [Member] | Equity Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	$ 95	$ 666	$ 95	$ 666	$ 635

Investment in Securities, Maste

Investment in Securities, Master Netting Arrangements for Swaps (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Offsetting Derivative Assets [Abstract]
Gross amounts of recognized assets	$ 143	$ 896	$ 800
Swaps [Member]
Offsetting Derivative Assets [Abstract]
Gross amounts of recognized assets	143	896	800
Gross amounts offset in the Statements of Financial Position	0	0	0
Net Amounts of Assets Presented in the Statements of Financial Position	143	896	800
Gross Amounts Not Offset in the Statements of Financial Position, Assets [Abstract]
Financial Instruments	(89)	(634)	(657)
Cash collateral received	0	0	0
Net amount	54	262	143
Offsetting Derivative Liabilities [Abstract]
Gross amounts of recognized liabilities	89	634	657
Gross amounts offset in the Statements of Financial Position	0	0	0
Net Amounts of Assets Presented in the Statements of Financial Position	89	634	657
Gross Amounts Not Offset in the Statements of Financial Position, Liabilities [Abstract]
Financial Instruments	(89)	(634)	(657)
Cash collateral received	0	0	0
Net amount	$ 0	$ 0	$ 0

Investment in Securities, Summa

Investment in Securities, Summary of Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value I (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Available for Sale Securities, Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value [Abstract]
Cost	$ 79,139	$ 38,178	$ 38,650
Gross unrealized gains	32,282	41,733	38,640
Gross unrealized losses	(2,926)	(65)	(2)
Total available for sale securities	108,495	79,846	77,288
Common Stock [Member]
Available for Sale Securities, Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value [Abstract]
Cost	13,561	13,637	14,228
Gross unrealized gains	20,534	25,305	22,152
Gross unrealized losses	0	0	0
Total available for sale securities	34,095	38,942	36,380
Closed-end Funds [Member]
Available for Sale Securities, Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value [Abstract]
Cost	63,068	21,962	21,819
Gross unrealized gains	10,128	14,398	14,325
Gross unrealized losses	(2,847)	(37)	(2)
Total available for sale securities	70,349	36,323	36,142
Mutual Funds [Member]
Available for Sale Securities, Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value [Abstract]
Cost	2,510	2,579	2,603
Gross unrealized gains	1,620	2,030	2,163
Gross unrealized losses	(79)	(28)	0
Total available for sale securities	$ 4,051	$ 4,581	$ 4,766

Investment in Securities, Inv36

Investment in Securities, Investments Classified as Available for Sale in Unrealized Loss Position (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)InvestmentHoldinginLossPosition	Sep. 30, 2014USD ($)InvestmentHoldinginLossPosition	Sep. 30, 2015USD ($)InvestmentHoldinginLossPosition	Sep. 30, 2014USD ($)InvestmentHoldinginLossPosition	Dec. 31, 2014USD ($)InvestmentHoldinginLossPosition
Schedule of Available-for-sale Securities [Line Items]
Unrealized changes to fair value net of taxes included in other comprehensive income	$ (6,696,000)	$ (2,407,000)	$ (7,418,000)	$ (6,832,000)
Return of capital on available for sale securities	302,000	266,000	554,000	827,000
Proceeds from sale of investment available for sale	0	1,500,000	1,064,000	8,018,000
Gross realized gains on sale of investment available for sale	0	300,000	30,000	3,500,000
Investments classified as available for sale unrealized loss position [Abstract]
Cost	40,840,000	79,000	40,840,000	79,000	$ 1,115,000
Unrealized Losses			(2,926,000)	(2,000)	(65,000)
Fair Value	$ 37,914,000	$ 77,000	$ 37,914,000	$ 77,000	$ 1,050,000
Number of investment holding in loss positions | InvestmentHoldinginLossPosition	4	1	4	1	4
Investment holding impairment period (in months)	8 months				4 months
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities	$ 150,000	$ 0	$ 150,000	$ 69,000
Closed-end Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	40,537,000	79,000	40,537,000	79,000	$ 812,000
Unrealized Losses			(2,847,000)	(2,000)	(37,000)
Fair Value	37,690,000	77,000	37,690,000	77,000	775,000
Mutual Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	303,000	0	303,000	0	303,000
Unrealized Losses			(79,000)	0	(28,000)
Fair Value	$ 224,000	$ 0	$ 224,000	$ 0	$ 275,000

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Assets
Investments in partnerships	$ 14,317	$ 24,094	$ 14,317	$ 24,094	$ 23,803
Liabilities
Securities sold, not yet purchased	5,577	14,180	5,577	14,180	10,595
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning Balance	1,218	1,010	1,587	984
Total Realized and Unrealized Gains or (Losses) - Trading	(126)	8	(64)	24
Total Realized and Unrealized Gains or (Losses) in Income - AFS Investments	0	0	0	0
Total Unrealized Gains or (Losses) Included in Other Comprehensive Income	0	0	0	0
Total Realized and Unrealized Gains or (Losses)	(126)	8	(64)	24
Purchases	0	0	11	10
Sales	0	0	442	0
Transfers In and/or (Out) of Level 3	0	0	0	0
Ending Balance	1,092	1,018	1,092	1,018
Recurring Basis [Member]
Assets
Cash equivalents	425,392	358,210	425,392	358,210	297,971
Investments in partnerships	14,319	24,094	14,319	24,094	23,803
Investments in securities:
AFS-Common stocks	34,095	36,380	34,095	36,380	38,942
AFS-Mutual Funds	1,174	1,389	1,174	1,389	1,368
Trading-Government obligations	0	20,999	0	20,999	18,996
Trading-Common Stocks	87,745	190,939	87,745	190,939	195,029
Trading-Mutual Funds	3,180	3,373	3,180	3,373	3,498
Trading-Other	723	1,550	723	1,550	1,704
Total investments in securities	126,917	254,630	126,917	254,630	259,537
Investments in sponsored registered investment companies: [Abstract]
AFS - Closed-end Funds	70,349	36,142	70,349	36,142	36,323
AFS - Mutual Funds	2,877	3,377	2,877	3,377	3,213
Trading - Mutual Funds	41,820	1	41,820	1	1
Total investments in sponsored registered investment companies	115,046	39,520	115,046	39,520	39,537
Total investments	256,282	318,244	256,282	318,244	322,877
Total assets at fair value	681,674	676,454	681,674	676,454	620,848
Liabilities
Trading-Common Stocks	5,482	13,514	5,482	13,514	9,960
Trading-Other	95	666	95	666	635
Securities sold, not yet purchased	5,577	14,180	5,577	14,180	10,595
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Recurring Basis [Member]
Assets
Cash equivalents	425,392	358,210	425,392	358,210	297,971
Investments in partnerships	0	0	0	0	0
Investments in securities:
AFS-Common stocks	34,095	36,380	34,095	36,380	38,942
AFS-Mutual Funds	1,174	1,389	1,174	1,389	1,368
Trading-Government obligations	0	20,999	0	20,999	18,996
Trading-Common Stocks	86,970	190,215	86,970	190,215	193,735
Trading-Mutual Funds	3,180	3,373	3,180	3,373	3,498
Trading-Other	263	453	263	453	513
Total investments in securities	125,682	252,809	125,682	252,809	257,052
Investments in sponsored registered investment companies: [Abstract]
AFS - Closed-end Funds	70,349	36,142	70,349	36,142	36,323
AFS - Mutual Funds	2,877	3,377	2,877	3,377	3,213
Trading - Mutual Funds	41,820	1	41,820	1	1
Total investments in sponsored registered investment companies	115,046	39,520	115,046	39,520	39,537
Total investments	240,728	292,329	240,728	292,329	296,589
Total assets at fair value	666,120	650,539	666,120	650,539	594,560
Liabilities
Trading-Common Stocks	5,482	13,514	5,482	13,514	9,960
Trading-Other	0	0	0	0	0
Securities sold, not yet purchased	5,482	13,514	5,482	13,514	9,960
Significant Other Observable Inputs (Level 2) [Member] | Recurring Basis [Member]
Assets
Cash equivalents	0	0	0	0	0
Investments in partnerships	14,319	24,094	14,319	24,094	23,803
Investments in securities:
AFS-Common stocks	0	0	0	0	0
AFS-Mutual Funds	0	0	0	0	0
Trading-Government obligations	0	0	0	0	0
Trading-Common Stocks	0	0	0	0	1
Trading-Mutual Funds	0	0	0	0	0
Trading-Other	143	803	143	803	897
Total investments in securities	143	803	143	803	898
Investments in sponsored registered investment companies: [Abstract]
AFS - Closed-end Funds	0	0	0	0	0
AFS - Mutual Funds	0	0	0	0	0
Trading - Mutual Funds	0	0	0	0	0
Total investments in sponsored registered investment companies	0	0	0	0	0
Total investments	14,462	24,897	14,462	24,897	24,701
Total assets at fair value	14,462	24,897	14,462	24,897	24,701
Liabilities
Trading-Common Stocks	0	0	0	0	0
Trading-Other	95	666	95	666	635
Securities sold, not yet purchased	95	666	95	666	635
Significant Unobservable Inputs (Level 3) [Member] | Recurring Basis [Member]
Assets
Cash equivalents	0	0	0	0	0
Investments in partnerships	0	0	0	0	0
Investments in securities:
AFS-Common stocks	0	0	0	0	0
AFS-Mutual Funds	0	0	0	0	0
Trading-Government obligations	0	0	0	0	0
Trading-Common Stocks	775	724	775	724	1,293
Trading-Mutual Funds	0	0	0	0	0
Trading-Other	317	294	317	294	294
Total investments in securities	1,092	1,018	1,092	1,018	1,587
Investments in sponsored registered investment companies: [Abstract]
AFS - Closed-end Funds	0	0	0	0	0
AFS - Mutual Funds	0	0	0	0	0
Trading - Mutual Funds	0	0	0	0	0
Total investments in sponsored registered investment companies	0	0	0	0	0
Total investments	1,092	1,018	1,092	1,018	1,587
Total assets at fair value	1,092	1,018	1,092	1,018	1,587
Liabilities
Trading-Common Stocks	0	0	0	0	0
Trading-Other	0	0	0	0	0
Securities sold, not yet purchased	0	0	0	0	0
Investment in Sponsored Registered Investment Companies [Member]
Investments in securities:
Total investments in securities	105,048	23,742	105,048	23,742	$ 23,861
Trading - Common stocks [Member]
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning Balance	920	716	1,293	700
Total Realized and Unrealized Gains or (Losses) - Trading	(145)	8	(166)	24
Total Realized and Unrealized Gains or (Losses) in Income - AFS Investments	0	0	0	0
Total Unrealized Gains or (Losses) Included in Other Comprehensive Income	0	0	0	0
Total Realized and Unrealized Gains or (Losses)	(145)	8	(166)	24
Purchases	0	0	6	0
Sales	0	0	358	0
Transfers In and/or (Out) of Level 3	0	0	0	0
Ending Balance	775	724	775	724
Trading - Other [Member]
Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning Balance	298	294	294	284
Total Realized and Unrealized Gains or (Losses) - Trading	19	0	102	0
Total Realized and Unrealized Gains or (Losses) in Income - AFS Investments	0	0	0	0
Total Unrealized Gains or (Losses) Included in Other Comprehensive Income	0	0	0	0
Total Realized and Unrealized Gains or (Losses)	19	0	102	0
Purchases	0	0	5	10
Sales	0	0	84	0
Transfers In and/or (Out) of Level 3	0	0	0	0
Ending Balance	$ 317	$ 294	$ 317	$ 294

Investments in Partnerships, 38

Investments in Partnerships, Offshore Funds and Variable Interest Entities, Part I (Details)	3 Months Ended	9 Months Ended
	Dec. 31, 2014USD ($)Entity	Sep. 30, 2015USD ($)Entity	Sep. 30, 2014USD ($)Entity
Variable Interest Entity [Line Items]
Investments in affiliated entities | $	$ 94,200,000	$ 87,200,000	$ 93,200,000
Investments in unaffiliated entities | $	13,400,000	13,800,000	14,200,000
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	23,803,000	14,317,000	24,094,000
Equity Method Investments | $	83,834,000	86,708,000	83,340,000
Total | $	107,637,000	101,025,000	107,434,000
Maximum exposure to loss related to VIEs | $	10,600,000	9,600,000	8,600,000
Deferred carried interest in VIE | $	43,000	38,000	44,000
Total VIE assets | $	$ 71,600,000	$ 65,800,000	$ 59,800,000
VIE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	0	1	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	1	2	1
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 13,434,000	$ 5,116,000	$ 13,618,000
VOE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	4	4	4
Additional consolidated entities	0	2	0
Deconsolidated entities	0	(2)	0
Entities consolidated at end of period	4	4	4
Prior to Consolidations [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 111,380,000	$ 105,097,000	$ 110,679,000
CFFs [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	4,438,000	4,817,000	4,684,000
CFFs [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	23,803,000	14,317,000	24,094,000
Equity Method Investments | $	0	0	0
Total | $	$ 23,803,000	$ 14,317,000	$ 24,094,000
CFFs [Member] | VIE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	0	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	1	1	1
CFFs [Member] | VOE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	2	2	2
Additional consolidated entities	0	1	0
Deconsolidated entities	0	(1)	0
Entities consolidated at end of period	2	2	2
Partnerships [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ (8,181,000)	$ (8,504,000)	$ (7,929,000)
Partnerships [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity Method Investments | $	34,385,000	38,318,000	34,967,000
Total | $	34,385,000	38,318,000	34,967,000
Partnerships [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity Method Investments | $	6,552,000	6,286,000	6,611,000
Total | $	$ 6,552,000	$ 6,286,000	$ 6,611,000
Partnerships [Member] | VIE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	0	0
Additional consolidated entities	0	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	0	0	0
Partnerships [Member] | VOE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	0	1	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	1	2	1
Offshore Funds [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 0	$ (385,000)	$ 0
Offshore Funds [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity Method Investments | $	36,033,000	34,552,000	34,185,000
Total | $	36,033,000	34,552,000	34,185,000
Offshore Funds [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity Method Investments | $	6,864,000	7,552,000	7,577,000
Total | $	$ 6,864,000	$ 7,552,000	$ 7,577,000
Offshore Funds [Member] | VIE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	0	0
Additional consolidated entities	0	1	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	0	1	0
Offshore Funds [Member] | VOE [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1	1
Additional consolidated entities	0	0	0
Deconsolidated entities	0	(1)	0
Entities consolidated at end of period	1	0	1

Investments in Partnerships, 39

Investments in Partnerships, Offshore Funds and Variable Interest Entities, Part II (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Assets [Abstract]
Cash and cash equivalents	$ 425,616	$ 358,421	$ 425,616	$ 358,421	$ 298,224	$ 210,451
Investment in Securities, Fair Value	126,917	254,630	126,917	254,630	259,537
Investments in sponsored investment companies	115,046	39,520	115,046	39,520	39,537
Investments in partnerships	101,025	107,434	101,025	107,434	107,637
Receivable from brokers	52,918	79,885	52,918	79,885	76,079
Investment advisory fees receivable	28,629	31,155	28,629	31,155	41,872
Other asset	22,518	27,715	22,518	27,715	43,544
Total assets	872,669	898,760	872,669	898,760	866,430
Liabilities and Equity [Abstract]
Payable to brokers	49,074	46,790	49,074	46,790	43,409
Securities sold, not yet purchased	5,577	14,180	5,577	14,180	10,595
Accrued expense and other liabilities	189,044	205,320	189,044	205,320	147,543
Total Debt	106,750	111,941	106,750	111,941	112,163
Redeemable noncontrolling interests	6,018	56,086	6,018	56,086	68,334
Total equity	565,280	511,233	565,280	511,233	527,795	$ 460,182
Total liabilities and equity	872,669	898,760	872,669	898,760	866,430
Condensed Consolidated Statements of Income [Abstract]
Total revenues	96,546	110,858	303,095	323,631
Total expenses	60,350	67,272	198,005	206,009
Operating income	36,196	43,586	105,090	117,622
Total other income, net	(12,500)	(9,989)	(3,286)	5,025
Income before income taxes	23,696	33,597	101,804	122,647
Income tax provision	9,245	13,045	38,547	44,796
Net income	14,451	20,552	63,257	77,851
Net income/(loss) attributable to noncontrolling interests	(518)	(3,113)	(589)	(2,718)
Net income attributable to GAMCO Investors, Inc.'s shareholders	14,969	23,665	63,846	80,569
VIE [Member]
Assets [Abstract]
Cash and cash equivalents	13	1	13	1	0
Investment in Securities, Fair Value	709	0	709	0	0
Investments in partnerships	5,116	13,618	5,116	13,618	13,434
Receivable from brokers	25	0	25	0	0
Other asset	3	0	3	0	0
Liabilities and Equity [Abstract]
Payable to brokers	(62)	0	(62)	0	0
Securities sold, not yet purchased	(206)	0	(206)	0	0
Accrued expense and other liabilities	(27)	(15)	(27)	(15)	(12)
Redeemable noncontrolling interests	(615)	(962)	(615)	(962)	(794)
GAMCO's net interests in consolidated VIEs	4,956	12,642	4,956	12,642	12,628
Prior to Consolidations [Member]
Assets [Abstract]
Cash and cash equivalents	425,549	358,316	425,549	358,316	298,149
Investment in Securities, Fair Value	118,401	203,280	118,401	203,280	200,443
Investments in sponsored investment companies	115,046	39,520	115,046	39,520	39,537
Investments in partnerships	105,097	110,679	105,097	110,679	111,380
Receivable from brokers	50,960	31,388	50,960	31,388	24,301
Investment advisory fees receivable	28,615	31,221	28,615	31,221	42,102
Other asset	22,363	28,528	22,363	28,528	43,393
Total assets	866,031	802,932	866,031	802,932	759,305
Liabilities and Equity [Abstract]
Securities sold, not yet purchased	5,231	13,549	5,231	13,549	9,991
Accrued expense and other liabilities	188,770	166,209	188,770	166,209	109,356
Total Debt	106,750	111,941	106,750	111,941	112,163
Redeemable noncontrolling interests	0	0	0	0	0
Total equity	565,280	511,233	565,280	511,233	527,795
Total liabilities and equity	866,031	802,932	866,031	802,932	759,305
Condensed Consolidated Statements of Income [Abstract]
Total revenues	96,558	111,073	303,139	324,287
Total expenses	60,304	66,980	197,828	205,207
Operating income	36,254	44,093	105,311	119,080
Total other income, net	(12,093)	(7,462)	(3,016)	6,172
Income before income taxes	24,161	36,631	102,295	125,252
Income tax provision	9,245	13,045	38,547	44,796
Net income	14,916	23,586	63,748	80,456
Net income/(loss) attributable to noncontrolling interests	(53)	(79)	(98)	(113)
Net income attributable to GAMCO Investors, Inc.'s shareholders	14,969	23,665	63,846	80,569
CFFs [Member]
Assets [Abstract]
Cash and cash equivalents	2	7	2	7	(11)
Investment in Securities, Fair Value	0	0	0	0	0
Investments in sponsored investment companies	0	0	0	0	0
Investments in partnerships	4,817	4,684	4,817	4,684	4,438
Receivable from brokers	0	0	0	0	0
Investment advisory fees receivable	5	17	5	17	(6)
Other asset	16	24	16	24	0
Total assets	4,840	4,732	4,840	4,732	4,421
Liabilities and Equity [Abstract]
Securities sold, not yet purchased	0	0	0	0	0
Accrued expense and other liabilities	38	71	38	71	22
Total Debt	0	0	0	0	0
Redeemable noncontrolling interests	4,802	4,661	4,802	4,661	4,399
Total equity	0	0	0	0	0
Total liabilities and equity	4,840	4,732	4,840	4,732	4,421
Condensed Consolidated Statements of Income [Abstract]
Total revenues	(10)	(7)	(26)	(21)
Total expenses	23	20	95	34
Operating income	(33)	(27)	(121)	(55)
Total other income, net	(268)	(186)	(177)	20
Income before income taxes	(301)	(213)	(298)	(35)
Income tax provision	0	0	0	0
Net income	(301)	(213)	(298)	(35)
Net income/(loss) attributable to noncontrolling interests	(301)	(213)	(298)	(35)
Net income attributable to GAMCO Investors, Inc.'s shareholders	0	0	0	0
Partnerships [Member]
Assets [Abstract]
Cash and cash equivalents	52	98	52	98	86
Investment in Securities, Fair Value	7,807	8,836	7,807	8,836	7,801
Investments in sponsored investment companies	0	0	0	0	0
Investments in partnerships	(8,504)	(7,929)	(8,504)	(7,929)	(8,181)
Receivable from brokers	1,933	306	1,933	306	623
Investment advisory fees receivable	9	(1)	9	(1)	(2)
Other asset	137	(1,000)	137	(1,000)	0
Total assets	1,434	310	1,434	310	327
Liabilities and Equity [Abstract]
Securities sold, not yet purchased	140	0	140	0	0
Accrued expense and other liabilities	155	31	155	31	24
Total Debt	0	0	0	0	0
Redeemable noncontrolling interests	1,139	279	1,139	279	303
Total equity	0	0	0	0	0
Total liabilities and equity	1,434	310	1,434	310	327
Condensed Consolidated Statements of Income [Abstract]
Total revenues	(2)	0	(4)	(2)
Total expenses	20	12	50	38
Operating income	(22)	(12)	(54)	(40)
Total other income, net	(120)	(18)	(102)	19
Income before income taxes	(142)	(30)	(156)	(21)
Income tax provision	0	0	0	0
Net income	(142)	(30)	(156)	(21)
Net income/(loss) attributable to noncontrolling interests	(142)	(30)	(156)	(21)
Net income attributable to GAMCO Investors, Inc.'s shareholders	0	0	0	0
Offshore Funds [Member]
Assets [Abstract]
Cash and cash equivalents	13	0	13	0	0
Investment in Securities, Fair Value	709	42,514	709	42,514	51,293
Investments in sponsored investment companies	0	0	0	0	0
Investments in partnerships	(385)	0	(385)	0	0
Receivable from brokers	25	48,191	25	48,191	51,155
Investment advisory fees receivable	0	(82)	0	(82)	(222)
Other asset	2	163	2	163	151
Total assets	364	90,786	364	90,786	102,377
Liabilities and Equity [Abstract]
Securities sold, not yet purchased	206	631	206	631	604
Accrued expense and other liabilities	81	39,009	81	39,009	38,141
Total Debt	0	0	0	0	0
Redeemable noncontrolling interests	77	51,146	77	51,146	63,632
Total equity	0	0	0	0	0
Total liabilities and equity	364	90,786	364	90,786	$ 102,377
Condensed Consolidated Statements of Income [Abstract]
Total revenues	0	(208)	(14)	(633)
Total expenses	3	260	32	730
Operating income	(3)	(468)	(46)	(1,363)
Total other income, net	(19)	(2,323)	9	(1,186)
Income before income taxes	(22)	(2,791)	(37)	(2,549)
Income tax provision	0	0	0	0
Net income	(22)	(2,791)	(37)	(2,549)
Net income/(loss) attributable to noncontrolling interests	(22)	(2,791)	(37)	(2,549)
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 0	$ 0	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Taxes [Abstract]
Effective income tax rate (in hundredths)	39.00%	38.80%	37.90%	36.50%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Basic:
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 14,969	$ 23,665	$ 63,846	$ 80,569
Weighted average shares outstanding (in shares)	24,947	25,296	25,047	25,385
Basic net income attributable to GAMCO Investors, Inc.'s shareholders per share (in dollars per share)	$ 0.60	$ 0.94	$ 2.55	$ 3.17
Diluted:
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 14,969	$ 23,665	$ 63,846	$ 80,569
Weighted average shares outstanding (in shares)	24,947	25,296	25,047	25,385
Dilutive stock options and restricted stock awards (in shares)	294	221	290	210
Total (in shares)	25,241	25,517	25,337	25,595
Diluted net income attributable to GAMCO Investors, Inc.'s shareholders per share (in dollars per share)	$ 0.59	$ 0.93	$ 2.52	$ 3.15

Debt (Details)

Debt (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)DebentureRepurchased$ / shares	Sep. 30, 2014USD ($)DebentureRepurchased	Sep. 30, 2015USD ($)DebentureRepurchased$ / shares	Sep. 30, 2014USD ($)DebentureRepurchased	Dec. 31, 2014USD ($)
Long-term debt [Abstract]
Carrying Value	$ 106,750,000	$ 111,941,000	$ 106,750,000	$ 111,941,000	$ 112,163,000
Fair Value Level 2	113,425,000	120,975,000	113,425,000	120,975,000	123,123,000
Loss on extinguishment of debt			(310,000)	(84,000)
5.875% Senior notes [Member]
Long-term debt [Abstract]
Carrying Value	$ 100,000,000	$ 100,000,000	$ 100,000,000	$ 100,000,000	$ 100,000,000
Debt maturity date	Jun. 1, 2021
Stated interest rate (in hundredths)	5.875%	5.875%	5.875%	5.875%	5.875%
Debt maturity period	10 years
Face value of debt	$ 100,000,000		$ 100,000,000
Percentage principal amount to offered to repurchase notes (in hundredths)	101.00%
5.875% Senior notes [Member] | Level 2 [Member]
Long-term debt [Abstract]
Fair Value Level 2	$ 106,625,000	$ 108,200,000	106,625,000	$ 108,200,000	$ 110,123,000
0% Subordinated debentures [Member]
Long-term debt [Abstract]
Carrying Value	$ 6,750,000	$ 11,941,000	$ 6,750,000	$ 11,941,000	$ 12,163,000
Debt maturity date	Dec. 31, 2015
Stated interest rate (in hundredths)	0.00%	0.00%	0.00%	0.00%	0.00%
Effective interest rate (in hundredths)	7.45%	7.45%	7.45%	7.45%	7.45%
Debentures repurchased (face value)	$ 1,600	$ 100,000	$ 6,200,000	$ 700,000
Debentures repurchased (loss in dollars)	$ 1,000	$ 10,000	310,000	$ 84,000
Debt maturity period	5 years
Face value of debt	$ 86,400,000		$ 86,400,000
Dividends declared related to issuance of debt (in dollars per share) | $ / shares	$ 3.20
Par value of debentures | $ / shares	$ 100		$ 100
Debt redemption price as percentage of principal amount (in hundredths)	100.00%		100.00%
Number of debentures repurchased | DebentureRepurchased	16	1,032	62,242	7,165
Maximum amount of debt and equity to be issued under Shelf Registration	$ 500,000,000		$ 500,000,000
Amount available for debt and equity issuance under Shelf Registration	500,000,000		500,000,000
0% Subordinated debentures [Member] | Level 2 [Member]
Long-term debt [Abstract]
Fair Value Level 2	$ 6,800,000	$ 12,775,000	$ 6,800,000	$ 12,775,000	$ 13,000,000

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended							9 Months Ended		12 Months Ended	201 Months Ended
	Sep. 30, 2015USD ($)VoteperShareIncentivePlan$ / sharesshares	Jun. 30, 2015$ / shares	Mar. 31, 2015$ / shares	Dec. 31, 2014USD ($)shares	Sep. 30, 2014USD ($)$ / sharesshares	Jun. 30, 2014USD ($)$ / shares	Mar. 31, 2014USD ($)$ / shares	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2014USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Aug. 04, 2015shares
Stockholders' Equity [Abstract]
Shares outstanding (in shares) | shares	25,500,000			25,900,000	25,900,000			25,500,000	25,900,000	25,900,000	25,500,000
Dividends Payable [Line Items]
Dividends declared (in dollars per share) | $ / shares	$ 0.07				$ 0.06			$ 0.21	$ 0.18
Dividend payment date	Sep. 29, 2015	Jun. 30, 2015	Mar. 31, 2015		Sep. 30, 2014	Jun. 24, 2014	Mar. 25, 2014
Dividend record date	Sep. 15, 2015	Jun. 16, 2015	Mar. 17, 2015		Sep. 16, 2014	Jun. 10, 2014	Mar. 11, 2014
Stock Award and Incentive Plan [Abstract]
Number of incentive plans | IncentivePlan	2
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares reserved for issuance under each plan, maximum (in shares) | shares	3,500,000							3,500,000			3,500,000
Term of nonqualified stock options, maximum (in years)	10 years
RSA shares outstanding (in shares) | shares	688,550			710,750	639,750			688,550	639,750	710,750	688,550
Average weighted grant price (in dollars per share) | $ / shares								$ 67.34	$ 65.12	$ 67.45
Percentage stock based compensation expense recognize over three years vesting period (in hundredths)	30.00%
Percentage stock based compensation expense recognize over five years vesting period (in hundredths)	70.00%
Vesting period for recognition of 30 percent of stock based compensation expense (in years)	3 years
Vesting period for recognition of 70 percent of stock based compensation expense (in years)	5 years
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Actual stock based compensation expense	$ 2,275,000				$ 1,785,000			$ 6,819,000	$ 5,182,000
Projected stock based compensation expense 2014										$ 7,199,000
Projected stock based compensation expense 2015	14,800,000
Projected stock based compensation expense 2016	5,839,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Three	4,182,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Ten	33,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Six	1,160,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Seven	778,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Nine	201,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Four	2,800,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Five	2,272,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Eight	472,000
Compensation cost related to non-vested restricted stock awards and options not yet recognized	$ 25,700,000							$ 25,700,000			$ 25,700,000
Stock options exercised (in shares) | shares	0				0			26,000	40,000
Proceeds from exercise of stock options	$ 0				$ 0			$ 1,169,000	$ 1,637,000
Tax benefit from exercise of stock options	$ 0				$ 0			$ 102,000	$ 349,000
Stock Repurchase Program [Abstract]
Incremental Class A shares authorized to buyback (in shares) | shares												500,000
Shares repurchased (in shares) | shares	172,007				94,942			321,488	319,662		9,447,513
Average price per share of repurchased shares (in dollars per share) | $ / shares	$ 61.11				$ 77.67			$ 66.96	$ 78.43		$ 44.70
Share available under program to repurchase (in shares) | shares	687,295							687,295			687,295
Quarterly Dividend [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share) | $ / shares	$ 0.07	$ 0.07	$ 0.07		$ 0.06	$ 0.06	$ 0.06
Q1 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Actual stock based compensation expense							$ 1,700,000
Projected stock based compensation expense 2015	$ 2,277,000
Projected stock based compensation expense 2016	1,681,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Three	1,143,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Ten	12,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Six	350,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Seven	227,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Nine	76,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Four	770,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Five	612,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Eight	146,000
Q2 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Projected stock based compensation expense 2014						$ 1,697,000
Projected stock based compensation expense 2015	2,267,000
Projected stock based compensation expense 2016	1,681,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Three	1,143,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Ten	12,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Six	319,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Seven	227,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Nine	76,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Four	748,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Five	612,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Eight	146,000
Q3 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Projected stock based compensation expense 2014					$ 1,785,000
Projected stock based compensation expense 2015	2,275,000
Projected stock based compensation expense 2016	1,327,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Three	1,013,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Ten	9,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Six	264,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Seven	179,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Nine	38,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Four	669,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Five	547,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Eight	104,000
Q4 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Projected stock based compensation expense 2014				$ 2,017,000
Projected stock based compensation expense 2015	7,981,000
Projected stock based compensation expense 2016	1,150,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Three	883,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Ten	0
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Six	227,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Seven	145,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Nine	11,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Four	613,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Five	501,000
Employee Service Share Based Compensation Nonvested Awards Projected Compensation Cost Year Eight	$ 76,000
Class A [Member]
Stockholders' Equity [Abstract]
Shares outstanding (in shares) | shares	6,340,992			6,616,212	6,599,982			6,340,992	6,599,982	6,616,212	6,340,992
Voting Rights [Abstract]
Number of votes per share | VoteperShare	1
Class B [Member]
Stockholders' Equity [Abstract]
Shares outstanding (in shares) | shares	19,196,792			19,239,260	19,279,260			19,196,792	19,279,260	19,239,260	19,196,792
Voting Rights [Abstract]
Number of votes per share | VoteperShare	10
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage stock based compensation expense recognize over three years vesting period (in hundredths)	30.00%
Percentage stock based compensation expense recognize over five years vesting period (in hundredths)	70.00%
Vesting period for recognition of 30 percent of stock based compensation expense (in years)	3 years
Vesting period for recognition of 70 percent of stock based compensation expense (in years)	5 years
Restricted Stock [Member] | Award Made on December 23, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSAs granted (in shares) | shares								73,000
Restricted stock award shares approved grant date fair value (in dollars per share) | $ / shares								$ 87.99
Restricted Stock [Member] | Award Made on September 15, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSAs granted (in shares) | shares								83,500
Restricted stock award shares approved grant date fair value (in dollars per share) | $ / shares								$ 73.41
Restricted Stock [Member] | Award Made on January 9, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSAs granted (in shares) | shares								2,100
Restricted stock award shares approved grant date fair value (in dollars per share) | $ / shares								$ 81.99
Restricted Stock [Member] | Award Made in August 2013 and September 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage stock based compensation expense recognize over three years vesting period (in hundredths)								30.00%
Percentage stock based compensation expense recognize each year over years four through ten vesting period (in hundredths)								10.00%
Vesting period for recognition of 30 percent of stock based compensation expense (in years)								3 years

Goodwill and Identifiable Int44

Goodwill and Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Goodwill [Line Items]
Goodwill	$ 3.5
Percentage interest owned in subsidiary (in hundredths)	94.00%
Identifiable Intangible Asset	$ 1.9	$ 1.9	$ 1.9
Subsidiary [Member]
Goodwill [Line Items]
Goodwill	3.3
G.distributors, LLC [Member]
Goodwill [Line Items]
Goodwill	$ 0.2

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions

Nov. 04, 2015

Oct. 13, 2015

Oct. 12, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Subsequent Event [Line Items]

Average price per share of repurchased shares (in dollars per share)

$ 61.11

$ 77.67

$ 66.96

$ 78.43

$ 44.70

Dividends declared (in dollars per share)

$ 0.07

$ 0.06

$ 0.21

$ 0.18

Dividends payable date

Sep. 29, 2015

Jun. 30, 2015

Mar. 31, 2015

Sep. 30, 2014

Jun. 24, 2014

Mar. 25, 2014

Dividends record date

Sep. 15, 2015

Jun. 16, 2015

Mar. 17, 2015

Sep. 16, 2014

Jun. 10, 2014

Mar. 11, 2014

Quarterly Dividend [Member]

Subsequent Event [Line Items]

Dividends declared (in dollars per share)

$ 0.07

$ 0.07

$ 0.07

$ 0.06

$ 0.06

$ 0.06

Subsequent Event [Member]

Subsequent Event [Line Items]

Stock repurchased (in shares)

91,740

Average price per share of repurchased shares (in dollars per share)

$ 57.53

Subsequent Event [Member] | Restricted Stock Awards [Member] | November 2013 Grant [Member]

Subsequent Event [Line Items]

Number of restricted stock awards outstanding (in shares)

130,650

Non-cash charge expected in fourth quarter resulting from acceleration of lapse of restrictions

$ 5.7

Non-cash charge per diluted share expected in fourth quarter resulting from acceleration of lapse of restrictions (in dollars per share)

$ 0.13

Restricted stock awards still remaining outstanding after acceleration (in shares)

557,900

Subsequent Event [Member] | Shareholder Designated Charitable Contribution Program [Member]

Subsequent Event [Line Items]

Shareholder-designated contribution (in shares)

21,000,000

Expected expense related to Shareholder-designated charitable contribution program

$ 5.3

Expected expense related to Shareholder-designated charitable contribution program if all shares outstanding are registered in shareholders' name at record date

$ 6.4

Subsequent Event [Member] | Quarterly Dividend [Member]

Subsequent Event [Line Items]

Dividends declared (in dollars per share)

$ 0.07

Dividends declared date

Nov. 4, 2015

Dividends payable date

Dec. 29, 2015

Dividends record date

Dec. 15, 2015