GAMCO Investors (GAMI) 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 30, 2016
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	2,016
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		10,692,404
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,096,792

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Investment advisory and incentive fees	$ 70,848	$ 86,068
Distribution fees and other income	10,537	13,738
Total revenues	81,385	99,806
Expenses
Compensation	20,274	37,977
Management fee	1,080	4,135
Distribution costs	10,717	14,441
Other operating expenses	4,372	4,663
Total expenses	36,443	61,216
Operating income	44,942	38,590
Other income (expense)
Net gain/(loss) from investments	223	13
Interest and dividend income	368	528
Interest expense	(3,406)	(1,905)
Total other income/(expense), net	(2,815)	(1,364)
Income before income taxes	42,127	37,226
Income tax provision	16,102	14,078
Income from continuing operations	26,025	23,148
Income from discontinued operations, net of taxes	0	1,628
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 26,025	$ 24,776
Net income attributable to GAMCO Investors, Inc.'s shareholders per share:
Basic - Continuing operations (in dollars per share)	$ 0.89	$ 0.92
Basic - Discontinued operations (in dollars per share)	0	0.07
Basic - Total (in dollars per share)	0.89	0.99
Diluted - Continuing operations (in dollars per share)	0.88	0.91
Diluted - Discontinued operations (in dollars per share)	0	0.06
Diluted - Total (in dollars per share)	$ 0.88	$ 0.97
Weighted average shares outstanding:
Basic (in shares)	29,247	25,132
Diluted (in shares)	29,684	25,414
Dividends declared: (in dollars per share)	$ 0.02	$ 0.07

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED [Abstract]
Net income		$ 26,025	$ 24,776
Other comprehensive loss, net of tax:
Foreign currency translation		(28)	(42)
Net unrealized losses on securities available for sale	[1]	2,583	(467)
Other comprehensive loss		2,555	(509)
Comprehensive income attributable to GAMCO Investors, Inc.		$ 28,580	$ 24,267
[1]	Net of income tax benefit of ($x,xxx) and ($x,xxx), respectively.

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED [Abstract]
Net unrealized losses on securities available for sale, net of income tax benefit	$ 1,517	$ (274)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION UNAUDITED - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
ASSETS
Cash and cash equivalents	$ 28,045	$ 13,719	$ 11,261
Investments in Securities	36,419	32,975	37,954
Receivable from brokers	1,135	1,091	2,100
Investment advisory fees receivable	29,612	31,048	32,241
Receivable from affiliates	5,256	5,041	28,373
Income tax receivable	2,452	6,787	2,433
Other assets	13,006	13,238	11,680
Assets of discontinued operations	0	0	673,263
Total assets	115,925	103,899	799,305
LIABILITIES AND EQUITY
Payable to brokers	0	12	46
Income taxes payable and deferred tax liabilities	12,198	4,823	23,133
Capital lease obligation	5,145	5,170	5,234
Compensation payable	19,218	24,426	38,823
Securities sold, not yet purchased	0	129	0
Payable to affiliates	3,754	7,687	28
Accrued expenses and other liabilities	29,710	28,882	32,071
Liabilities of discontinued operations	0	0	35,782
Sub-total	70,025	71,129	135,117
AC 4% PIK Note (due November 30, 2020) (Note F)	250,000	250,000	0
Loan from GGCP (due December 28, 2016) (Note F)	20,000	35,000	0
5.875% Senior notes (due June 1, 2021)	24,103	24,097	99,398
Zero coupon subordinated debentures, Face value: $0.0 million at March 31, 2016, $0.0 million at December 31, 2015 and $10.4 million at March 31, 2015, respectively (due December 31, 2015)	0	0	9,936
Total liabilities	364,128	380,226	244,451
Redeemable noncontrolling interests from discontinued operations	$ 0	$ 0	$ 5,519
Commitments and contingencies (Note J)
GAMCO Investors, Inc. stockholders' equity
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued and outstanding	$ 0	$ 0	$ 0
Additional paid-in capital	1,382	345	293,958
Retained earnings (deficit)	(8,794)	(34,224)	625,926
Accumulated other comprehensive income	11,670	9,115	24,505
Treasury stock, at cost (x,xxx,xxx, 4,758,794 and 8,766,614 shares, respectively)	(252,494)	(251,596)	(397,813)
Total GAMCO Investors, Inc. stockholders' equity (deficit)	(248,203)	(276,327)	546,609
Noncontrolling interests from discontinued operations	0	0	2,726
Total equity (deficit)	(248,203)	(276,327)	549,335
Total liabilities and equity	115,925	103,899	799,305
Class A [Member]
GAMCO Investors, Inc. stockholders' equity
Common Stock	14	14	14
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	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
LIABILITIES AND EQUITY
Zero coupon subordinated debentures, face value	$ 0	$ 0	$ 10.4
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
Preferred Stock, shares issued (in shares)	0	0	0
Preferred Stock, shares outstanding (in shares)	0	0	0
Common Stock, outstanding (in shares)	29,800,000	29,800,000	25,800,000
Treasury stock, shares (in shares)	4,789,297	4,758,794	8,766,614
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)	15,472,901	15,422,901	15,357,733
Common Stock, outstanding (in shares)	10,683,604	10,664,107	6,591,119
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)	19,106,792	19,156,792	19,219,260
AC 4% PIK Note [Member]
LIABILITIES AND EQUITY
Debt instrument, interest rate	4.00%
Debt instrument, maturity date	Nov. 30, 2020
Loan from GGCP [Member]
LIABILITIES AND EQUITY
Debt instrument, maturity date	Dec. 28, 2016
5.875% Senior Notes [Member]
LIABILITIES AND EQUITY
Debt instrument, interest rate	5.875%
Debt instrument, maturity date	Jun. 1, 2021
Zero Coupon Subordinated Debentures [Member]
LIABILITIES AND EQUITY
Debt instrument, interest rate	0.00%
Debt instrument, maturity date	Dec. 31, 2015

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 (Deficit) [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]	Total	Redeemable Noncontrolling Interests [Member]
Balance at Dec. 31, 2014	$ 2,734	$ 33	$ 291,681	$ 602,950	$ 25,014	$ (394,617)	$ 527,795	$ 68,334
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemptions of redeemable noncontrolling interests	0	0	0	0	0	0	0	(441)
Consolidation of a consolidated feeder fund	0	0	0	0	0	0	0	891
Deconsolidation of offshore fund	0	0	0	0	0	0	0	(63,256)
Net income (loss)	(8)	0	0	24,776	0	0	24,768	(9)
Net unrealized losses on securities available for sale, net of income tax	0	0	0	0	(451)	0	(451)	0
Amounts reclassified from accumulated other comprehensve income, net of income tax benefit	0	0	0	0	(16)	0	(16)	0
Foreign currency translation	0	0	0	0	(42)	0	(42)	0
Dividends declared	0	0	0	(1,800)	0	0	(1,800)	0
Stock based compensation expense	0	0	2,277	0	0	0	2,277	0
Purchase of treasury stock	0	0	0	0	0	(3,196)	(3,196)	0
Balance at Mar. 31, 2015	$ 2,726	33	293,958	625,926	24,505	(397,813)	549,335	$ 5,519
Balance at Dec. 31, 2015		33	345	(34,224)	9,115	(251,596)	(276,327)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)		0	0	26,025	0	0	26,025
Net unrealized losses on securities available for sale, net of income tax		0	0	0	2,582	0	2,582
Amounts reclassified from accumulated other comprehensve income, net of income tax benefit		0	0	0	1	0	1
Foreign currency translation		0	0	0	(28)	0	(28)
Dividends declared		0	0	(595)	0	0	(595)
Stock based compensation expense		0	1,037	0	0	0	1,037
Purchase of treasury stock		0	0	0	0	(898)	(898)
Balance at Mar. 31, 2016		$ 33	$ 1,382	$ (8,794)	$ 11,670	$ (252,494)	$ (248,203)

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED [Abstract]
Net unrealized losses on securities available for sale, income tax	$ 1,516	$ (265)
Amounts reclassed from accumulated other comprehensive income, income tax benefit	$ 1	$ (9)
Dividends declared (in dollars per share)	$ 0.02	$ 0.07

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 26,025	$ 24,776
Loss/(income) from discontinued operations, net of taxes	0	(1,628)
Income from continuing operations	26,025	23,148
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in net gains from partnerships	0	0
Depreciation and amortization	155	155
Stock based compensation expense	1,037	1,639
Deferred income taxes	(2,016)	1,166
Tax benefit from exercise of stock options	0	0
Foreign currency translation gain/(loss)	(28)	(42)
Other-than-temporary loss on available for sale securities	0	0
Cost basis of donated securities	0	0
Net gains on sales of available for sale securities	(2)	(3)
Accretion of zero coupon debentures	0	213
Loss on extinguishment of zero coupon debentures	0	156
(Increase) decrease in assets:
Investments in trading securities	223	0
Investments in partnerships:
Receivable from affiliates	(217)	(1,936)
Receivable from brokers	(44)	(417)
Investment advisory fees receivable	1,437	5,486
Income tax receivable and deferred tax assets	4,335	0
Other assets	66	419
Increase (decrease) in liabilities:
Payable to affiliates	(3,933)	(326)
Payable to brokers	(12)	34
Income taxes payable and deferred tax liabilities	7,875	4,343
Compensation payable	(5,206)	8,025
Accrued expenses and other liabilities	793	4,206
Total adjustments	4,463	23,118
Net cash provided by operating activities from continuing operations	30,488	46,266
Investing activities
Purchases of available for sale securities	0	0
Proceeds from sales of available for sale securities	308	32
Return of capital on available for sale securities	0	0
Net cash (used in) provided by investing activities from continuing operations	308	32
Financing activities
Net cash transferred from AC	0	34,832
Proceeds from exercise of stock options	0	0
Dividends paid	(585)	(1,759)
Repurchase of Zero coupon subordinated debentures	0	(2,596)
Purchase of treasury stock	(898)	(3,196)
Repayment of loan from GGCP	(15,000)	0
Amortization of debt issuance costs	6	0
Net cash (used in) provided by financing activities from continuing operations	(16,477)	27,281
Cash flows of discontinued operations
Net cash provided by (used in) operating activities	0	36,160
Net cash provided by (used in) investing activities	0	(41,080)
Net cash provided by (used in) financing activities	0	(70,103)
Net cash provided by (used in) discontinued operations	0	(75,023)
Effect of exchange rates on cash and cash equivalents	7	11
Net increase in cash and cash equivalents	14,326	(1,433)
Cash and cash equivalents at beginning of period	13,719	12,694
Cash and cash equivalents at end of period	28,045	11,261
Supplemental disclosures of cash flow information:
Cash paid for interest	197	199
Cash paid for taxes	$ 5,137	$ 9,078

CONDENSED CONSOLIDATED STATEM10

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Non-cash activity:
Accrued restricted stock award dividends	$ 10	$ 41

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
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, 2015 from which the accompanying condensed consolidated financial statements were derived. Reclassifications Certain amounts reported for the prior period in the accompanying condensed consolidated financial statements have been reclassified in order to conform to the current period’s presentation. Assets and liabilities related to the spin-off (“Spin-off”) of Associated Capital Group, Inc. (“AC”) on November 30, 2015 on the Company’s condensed consolidated statement of financial condition as of March 31, 2015 have been reclassified as assets and liabilities of discontinued operations (See Note J. Discontinued Operations for further details). All assets and liabilities related to discontinued operations are excluded from the footnotes for all periods presented unless otherwise noted. In addition, the historical results of AC and certain investment partnerships and offshore funds have been reflected in the accompanying consolidated statements of income for the quarter ended March 31, 2015 as discontinued operations and financial information related to discontinued operations has been excluded from the notes to these financial statements for all periods presented. 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 April 2015, the FASB issued ASU 2015-03, which amends the presentation of debt issuance costs in financial statements. This amended guidance requires entities to present the cost of debt issuances as a reduction of the related debt rather than as an asset. This guidance is effective for the Company beginning January 1, 2016. Entities should apply the guidance retrospectively to all prior periods. The Company adopted this guidance on January 1, 2016 without a material impact to the consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Although the ASU retains many current requirements, it significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. For public companies, the new standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017. To adopt the amendments, entities will be required to make a cumulative-effect adjustment to beginning retained earnings as of the beginning of the fiscal year in which the guidance is effective. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, which amends the guidance in U.S. GAAP for the accounting for leases. ASU 2016-02 requires a lessee to recognize assets and liabilities arising from most operating leases in the condensed consolidated statement of financial position. ASU 2016-02 is effective beginning January 1, 2019. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. For public companies, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements.

Investment in Securities

Investment in Securities	3 Months Ended
	Mar. 31, 2016
Investment in Securities [Abstract]
Investment in Securities	B. Investment in Securities Investments in securities at March 31, 2016, December 31, 2015 and March 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 March 31, 2015 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 15 $ 17 $ 385 $ 368 $ - $ - Total trading securities 15 17 385 368 - - Available for sale securities: Common stocks 17,592 36,402 17,898 32,607 13,609 37,954 Total available for sale securities 17,592 36,402 17,898 32,607 13,609 37,954 Total investments in securities $ 17,607 $ 36,419 $ 18,283 $ 32,975 $ 13,609 $ 37,954 Securities sold, not yet purchased at March 31, 2016, December 31, 2015 and March 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 March 31, 2015 Proceeds Fair Value Proceeds Fair Value Proceeds Fair Value Trading securities: (In thousands) Common stocks $ - $ - $ 123 $ 129 $ - $ - Total securities sold, not yet purchased $ - $ - $ 123 $ 129 $ - $ - 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 condensed 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 months ended March 31, 2016 and 2015 (in thousands): Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Three Months Ended March 31, 2016 2015 $ 2 $ 3 Net gain from investments Realized gain on sale of AFS securities 2 3 Income before income taxes (1 ) (1 ) Income tax provision $ 1 $ 2 Net income The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available for sale investments as of March 31, 2016, December 31, 2015 and March 31, 2015: March 31, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 17,592 $ 18,810 $ - $ 36,402 Total available for sale securities $ 17,592 $ 18,810 $ - $ 36,402 December 31, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 17,898 $ 14,709 $ - $ 32,607 Total available for sale securities $ 17,898 $ 14,709 $ - $ 32,607 March 31, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,609 $ 24,345 $ - $ 37,954 Total available for sale securities $ 13,609 $ 24,345 $ - $ 37,954 Changes in net unrealized gain/(loss), net of taxes, for the three months ended March 31, 2016 and March 31, 2015 of $2.6 million in gains and $0.5 million in losses, respectively, have been included in other comprehensive income, a component of equity, at March 31, 2016 and March 31, 2015. During the three months ended March 31, 2016 and March 31, 2015, proceeds from the sales of investments available for sale were approximately $308,000 and $32,000, respectively. For the three months ended March 31, 2016 and March 31, 2015, gross gains on the sale of investments available for sale amounted to $2,000 and $3,000, respectively and were reclassified from other comprehensive income into net gain from investments in the condensed consolidated statements of income. There were no realized losses on the sale of investments available for sale for the three months ended March 31, 2016 or March 31, 2015. The basis on which the cost of a security sold is determined using specific identification. Accumulated other comprehensive income on the consolidated statements of equity is primarily comprised of unrealized gains/losses, net of taxes, for AFS securities. GBL has an established accounting policy and methodology to determine other-than-temporary impairment on available for sale securities. Under this policy, available for sale securities are evaluated for other than temporary impairments and any impairment charges are recorded in net gain/(loss) from investments on the condensed consolidated statements of income. Management reviews all available for sale securities whose cost exceeds their market value to determine if the impairment is other than temporary. Management uses qualitative factors such as diversification of the investment, the amount of time that the investment has been impaired, the intent to sell and the severity of the decline in determining whether the impairment is other than temporary. There were no investments classified as available for sale that were in an unrealized loss position at March 31, 2016, December 31, 2015 or March 31, 2015. For the quarters ended March 31, 2016 and 2015 there were no losses on available for sale securities that were deemed to be other than temporary.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016, December 31, 2015 and March 31, 2015 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 March 31, 2016 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2016 Cash equivalents $ 27,909 $ - $ - $ 27,909 Investments in securities: AFS - Common stocks 36,402 - - 36,402 Trading - Common stocks 17 - - 17 Total investments in securities 36,419 - - 36,419 Total assets at fair value $ 64,328 $ - $ - $ 64,328 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ - $ - $ - $ - Total securities sold, not yet purchased $ - $ - $ - $ - Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 (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) 2015 Cash equivalents $ 13,538 $ - $ - $ 13,538 Investments in securities: AFS - Common stocks 32,607 - - 32,607 Trading - Common stocks 368 - - 368 Total investments in securities 32,975 - - 32,975 Total assets at fair value $ 46,513 $ - $ - $ 46,513 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ 129 $ - $ - $ 129 Total securities sold, not yet purchased $ 129 $ - $ - $ 129 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2015 Cash equivalents $ 11,107 $ - $ - $ 11,107 Investments in securities: AFS - Common stocks 37,954 - - 37,954 Trading - Common stocks - - - - Total investments in securities 37,954 - - 37,954 Total assets at fair value $ 49,061 $ - $ - $ 49,061 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ - $ - $ - $ - Total securities sold, not yet purchased $ - $ - $ - $ - During the quarters ended March 31, 2016 and 2015, there were no transfers between any Level 1 and Level 2 holdings, or between Level 1 and Level 3 holdings. Other than certain securities which were part of the Spin-off, the Company did not hold any Level 2 or 3 securities at either March 31, 2016, December 31, 2015 or March 31, 2015.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Income Taxes	D. Income Taxes The effective tax rate ("ETR") for the three months ended March 31, 2016 and March 31, 2015 was 38.2% and .

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	E. Earnings Per Share The Three Months Ended March 31, (In thousands, except per share amounts) 2016 2015 Basic: Income from continuing operations $ 26,025 $ 23,148 Income from discontinued operations, net of taxes - 1,628 Net income attributable to GAMCO Investors, Inc.'s shareholders $ 26,025 $ 24,776 Weighted average shares outstanding 29,247 25,132 Basic net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 0.89 $ 0.92 Discontinued operations - 0.07 Total $ 0.89 $ 0.99 Diluted: Income from continuing operations $ 26,025 $ 23,148 Income from discontinued operations, net of taxes - 1,628 Net income attributable to GAMCO Investors, Inc.'s shareholders $ 26,025 $ 24,776 Weighted average share outstanding 29,247 25,132 Dilutive stock options and restricted stock awards 437 282 Total 29,684 25,414 Diluted net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 0.88 $ 0.91 Discontinued operations - 0.06 Total $ 0.88 $ 0.97

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Debt	F. Debt Debt consists of the following: March 31, 2016 December 31, 2015 March 31, 2015 Carrying Fair Value Carrying Fair Value Carrying Fair Value Value Level 2 Value Level 2 Value Level 2 (In thousands) AC 4% PIK Note $ 250,000 $ 249,183 $ 250,000 $ 250,000 $ - $ - Loan from GGCP 20,000 20,161 35,000 35,000 - - 5.875% Senior notes 24,103 23,741 24,097 24,437 99,398 109,541 0% Subordinated debentures - - - - 9,936 10,440 Total $ 294,103 $ 293,085 $ 309,097 $ 309,437 $ 109,334 $ 119,981 AC 4% PIK Note In connection with the spin-off of AC on November 30, 2015, the Company issued a $250 million promissory note (the “AC 4% PIK Note”) payable to AC. The AC 4% PIK Note bears interest at 4.0% per annum. The original principal amount has a maturity date of November 30, 2020. Interest on the AC 4% PIK Note will accrue from the date of the last interest payment, or if no interest has been paid, from the effective date of the AC 4% PIK Note. At the election of the Company, payment of interest on the AC 4% PIK Note may be paid in kind (in whole or in part) on the then-outstanding principal amount (a “PIK Amount”) in lieu of cash. The Company will repay the original principal amount of the AC 4% PIK Note to AC in five equal annual installments of $50 million on each interest payment date up to and including the maturity date. All PIK Amounts added to the outstanding principal amount of the AC 4% PIK Note will mature on the fifth anniversary from the date the PIK Amount was added to the outstanding principal of the AC 4% PIK Note. In no event may any interest be paid in kind subsequent to November 30, 2019. The Company may prepay the AC 4% PIK Note (in whole or in part) prior to maturity without penalty. 5.875% Senior notes On May 31, 2011, the Company issued 10-year, $100 million senior notes ("Senior Notes"). The Senior 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 Senior Notes at 101% of their principal amount. On November 18, 2015, the Company commenced a tender offer (the “Offer”) to purchase for cash up to $100 million aggregate principal amount of the Senior Notes at a price of 101% of the principal amount. $75.8 million of face value Senior Notes were tendered upon the expiration of the Offer. At March 31, 2016, December 31, 2015 and March 31, 2015, the debt was recorded at its face value, net of issuance costs, of $24.1 million, $24.1 million and $99.4 million, respectively. Loan from GGCP In connection with the Offer, the Company borrowed $35.0 million from GGCP. The loan has a term of one year and bears interest at 90-day LIBOR plus 3.25%, reset and payable quarterly. Under the terms of the loan agreement, the Company is required to fully pay the loan prior to any accelerated payment of the AC 4% PIK Note. On March 18, 2016, the Company paid back $15.0 million of the loan. At March 31, 2016 and December 31, 2015, the debt was recorded at its face value of $20.0 million and $35.0 million, respectively. 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 March 31, 2015 the Company repurchased 25,957 Debentures having a face value of $2.6 million. The redemptions were accounted for as extinguishments of debt and resulted in losses of $156,000 which was included in net gain from investments on the condensed consolidated statements of income. The debt was being accreted to its face value using the effective rate on the date of issuance of 7.45%. At March 31, 2015, the debt was recorded at its accreted value of $9.9 million. The debt matured on December 31, 2015 and was fully paid at that time. 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 March 31, 2016, $500 million is available on the shelf.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity [Abstract]
Stockholders' Equity	G. Stockholders' Equity Shares outstanding were 29.8 million, 29.8 million and 25.8 million on March 31, 2016, December 31, 2015 and March 31, 2015, respectively. Dividends Payment Record Date Date Amount Three months ended March 31, 2016 March 29, 2016 March 15, 2016 $ 0.02 Three months ended March 31, 2015 March 31, 2015 March 17, 2015 $ 0.07 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. As of March 31, 2016, December 31, 2015 and March 31, 2015, there were 553,100 RSA shares, 553,100 RSA shares and 707,050 RSA shares outstanding, respectively, that were previously issued at an average weighted grant price of $64.02, $64.02 and $67.43, respectively. These RSA grants occurred prior to the spin-off of Associated Capital. On November 30, 2015, pursuant to the spin-off, all RSA grant holders received shares of Associated Capital’s Class A common stock as a result of their ownership of their GAMCO unvested RSAs (one share of Associated Capital for each share of GBL). 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 (deficit) on the declaration date. For the three months ended March 31, 2016 and March 31, 2015, we recognized stock-based compensation expense of $1.0 million and $1.6 million, respectively. Actual and projected stock-based compensation expense for RSA shares for the years ended December 31, 2015 through December 31, 2024 (based on awards currently issued or granted) is as follows (in thousands): 2015 2016 2017 2018 2019 Q1 $ 1,639 $ 1,037 $ 685 $ 464 $ 365 Q2 1,640 1,036 685 453 365 Q3 1,644 806 602 402 323 Q4 4,945 691 520 366 295 Full Year $ 9,868 $ 3,570 $ 2,492 $ 1,685 $ 1,348 2020 2021 2022 2023 2024 Q1 $ 219 145 $ 93 $ 48 $ 7 Q2 204 145 93 48 7 Q3 169 114 66 24 5 Q4 145 93 48 7 - Full Year $ 737 497 $ 300 $ 127 $ 19 The total compensation cost related to non-vested RSAs not yet recognized is approximately $9.7 million as of March 31, 2016. There were no options exercised for the three months ended March 31, 2016 or March 31, 2015. 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 March 31, 2016 and March 31, 2015, the Company repurchased 30,503 shares and 41,393 shares, respectively, at an average price per share of $29.42 and $77.19, respectively. From the inception of the program through March 31, 2016, 9,583,156 shares have been repurchased at an average price of $44.76 per share. At March 31, 2016, the total shares available under the program to be repurchased in the future were 551,652.

Identifiable Intangible Assets

Identifiable Intangible Assets	3 Months Ended
	Mar. 31, 2016
Identifiable Intangible Assets [Abstract]
Identifiable Intangible Assets	H. Identifiable Intangible Assets 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 March 31, 2016, December 31, 2015 and March 31, 2015. 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 2017. On November 1, 2015, as a result of becoming the advisor to the Bancroft Fund Ltd. and the Ellsworth Growth and Income Fund Ltd. and the associated consideration paid, the Company maintains an identifiable intangible asset of $1.6 million within other assets on the condensed consolidated statement of financial condition at March 31, 2016 and December 31, 2015. The advisory contracts for the Bancroft Fund Ltd. and the Ellsworth Growth and Income Fund Ltd. are both next up for renewal in November 2017. 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 March 31, 2016 or March 31, 2015, and as such there was no impairment analysis performed or charge recorded.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies [Abstract]
Commitments and Contingencies	I. 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 March 31, 2016.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2016
Discontinued Operations [Abstract]
Discontinued Operations	J. Discontinued Operations As a result of the Spin-off, the results of AC’s operations through the Spin-off Date, as well as transaction costs related to the Spin-off, have been classified in the condensed consolidated statements of income as discontinued operations. There was no gain or loss on the Spin-off for the Company, and it was a tax-free spin-off to GAMCO’s shareholders. The first quarter 2015 results include $0.8 million in costs incurred with respect to the Spin-off and are included in Other operating expenses below. Operating results for the period from January 1, 2015 through March 31, 2015 is summarized below: Period Ended March 31, 2015 Revenues Investment advisory and incentive fees $ 2,119 Distribution fees and other income 134 Institutional research services 2,447 Total revenues 4,700 Expenses Compensation 5,879 Stock based compensation 638 Management fee 302 Distribution costs (29 ) Other operating expenses 2,555 Total expenses 9,345 Operating loss (4,645 ) Other income (expense) Net gain from investments 6,945 Interest and dividend income 746 Interest expense (334 ) Total other income (expense), net 7,357 Income from discontinued operations before income taxes 2,712 Income tax provision 1,101 Income from discontinued operations, net of taxes 1,611 Net loss attributable to noncontrolling interests (17 ) Net income attributable to GAMCO Investors, Inc.'s discontinued operations, net of taxes $ 1,628 The assets and liabilities of AC have been classified in the consolidated statement of financial condition as of March 31, 2015 as assets and liabilities of discontinued operations and consist of the following: March 31, 2015 Cash and cash equivalents $ 320,373 Investments in securities 120,834 Investments in sponsored registered investment companies 120,831 Investments in partnerships 106,943 Receivable from brokers 19,515 Investment advisory fees receivable 1,462 Receivable from affiliates (28,373 ) Income tax receivable 10 Other assets 11,668 Total assets of discontinued operations 673,263 Payable to brokers 10,128 Income taxes payable and deferred tax liabilities 9,697 Compensation payable 4,571 Securities sold, not yet purchased 8,569 Payable to affiliates (28 ) Mandatorily redeemable noncontrolling interests 1,298 Accrued expenses and other liabilities 1,547 Total liabilities of discontinued operations 35,782 Redeemable noncontrolling interests from discontinued operations 5,519 Noncontrolling interests from discontinued operations 2,726 Net assets of discontinued operations $ 629,236

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	K. Subsequent Events On April 21, 2016, the Company paid down the GGCP Loan by an additional $5.0 million. On May 3, 2016, the Board of Directors declared its regular quarterly dividend of $0.02 per share to all of its shareholders, payable on June 28, 2016 to shareholders of record on June 14, 2016. From April 1, 2016 to May 9, 2016, the Company repurchased 100 shares at $37.43 per share.

Significant Accounting Polici22

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
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, 2015 from which the accompanying condensed consolidated financial statements were derived.
Reclassifications	Reclassifications Certain amounts reported for the prior period in the accompanying condensed consolidated financial statements have been reclassified in order to conform to the current period’s presentation. Assets and liabilities related to the spin-off (“Spin-off”) of Associated Capital Group, Inc. (“AC”) on November 30, 2015 on the Company’s condensed consolidated statement of financial condition as of March 31, 2015 have been reclassified as assets and liabilities of discontinued operations (See Note J. Discontinued Operations for further details). All assets and liabilities related to discontinued operations are excluded from the footnotes for all periods presented unless otherwise noted. In addition, the historical results of AC and certain investment partnerships and offshore funds have been reflected in the accompanying consolidated statements of income for the quarter ended March 31, 2015 as discontinued operations and financial information related to discontinued operations has been excluded from the notes to these financial statements for all periods presented.
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 April 2015, the FASB issued ASU 2015-03, which amends the presentation of debt issuance costs in financial statements. This amended guidance requires entities to present the cost of debt issuances as a reduction of the related debt rather than as an asset. This guidance is effective for the Company beginning January 1, 2016. Entities should apply the guidance retrospectively to all prior periods. The Company adopted this guidance on January 1, 2016 without a material impact to the consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, which amends the guidance in U.S. GAAP on the classification and measurement of financial instruments. Although the ASU retains many current requirements, it significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. For public companies, the new standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017. To adopt the amendments, entities will be required to make a cumulative-effect adjustment to beginning retained earnings as of the beginning of the fiscal year in which the guidance is effective. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, which amends the guidance in U.S. GAAP for the accounting for leases. ASU 2016-02 requires a lessee to recognize assets and liabilities arising from most operating leases in the condensed consolidated statement of financial position. ASU 2016-02 is effective beginning January 1, 2019. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. For public companies, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements.

Investment in Securities (Table

Investment in Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Investment in Securities [Abstract]
Investments in Securities	Investments in securities at March 31, 2016, December 31, 2015 and March 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 March 31, 2015 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 15 $ 17 $ 385 $ 368 $ - $ - Total trading securities 15 17 385 368 - - Available for sale securities: Common stocks 17,592 36,402 17,898 32,607 13,609 37,954 Total available for sale securities 17,592 36,402 17,898 32,607 13,609 37,954 Total investments in securities $ 17,607 $ 36,419 $ 18,283 $ 32,975 $ 13,609 $ 37,954
Securities Sold, Not Yet Purchased	Securities sold, not yet purchased at March 31, 2016, December 31, 2015 and March 31, 2015 consisted of the following: March 31, 2016 December 31, 2015 March 31, 2015 Proceeds Fair Value Proceeds Fair Value Proceeds Fair Value Trading securities: (In thousands) Common stocks $ - $ - $ 123 $ 129 $ - $ - Total securities sold, not yet purchased $ - $ - $ 123 $ 129 $ - $ -
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 months ended March 31, 2016 and 2015 (in thousands): Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Three Months Ended March 31, 2016 2015 $ 2 $ 3 Net gain from investments Realized gain on sale of AFS securities 2 3 Income before income taxes (1 ) (1 ) Income tax provision $ 1 $ 2 Net income
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 March 31, 2016, December 31, 2015 and March 31, 2015: March 31, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 17,592 $ 18,810 $ - $ 36,402 Total available for sale securities $ 17,592 $ 18,810 $ - $ 36,402 December 31, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 17,898 $ 14,709 $ - $ 32,607 Total available for sale securities $ 17,898 $ 14,709 $ - $ 32,607 March 31, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,609 $ 24,345 $ - $ 37,954 Total available for sale securities $ 13,609 $ 24,345 $ - $ 37,954

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016, December 31, 2015 and March 31, 2015 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 March 31, 2016 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2016 Cash equivalents $ 27,909 $ - $ - $ 27,909 Investments in securities: AFS - Common stocks 36,402 - - 36,402 Trading - Common stocks 17 - - 17 Total investments in securities 36,419 - - 36,419 Total assets at fair value $ 64,328 $ - $ - $ 64,328 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ - $ - $ - $ - Total securities sold, not yet purchased $ - $ - $ - $ - Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 (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) 2015 Cash equivalents $ 13,538 $ - $ - $ 13,538 Investments in securities: AFS - Common stocks 32,607 - - 32,607 Trading - Common stocks 368 - - 368 Total investments in securities 32,975 - - 32,975 Total assets at fair value $ 46,513 $ - $ - $ 46,513 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ 129 $ - $ - $ 129 Total securities sold, not yet purchased $ 129 $ - $ - $ 129 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Balance as of Markets for Identical Observable Unobservable March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) 2015 Cash equivalents $ 11,107 $ - $ - $ 11,107 Investments in securities: AFS - Common stocks 37,954 - - 37,954 Trading - Common stocks - - - - Total investments in securities 37,954 - - 37,954 Total assets at fair value $ 49,061 $ - $ - $ 49,061 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ - $ - $ - $ - Total securities sold, not yet purchased $ - $ - $ - $ -

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Computations of Basic and Diluted Net Income per Share	The Three Months Ended March 31, (In thousands, except per share amounts) 2016 2015 Basic: Income from continuing operations $ 26,025 $ 23,148 Income from discontinued operations, net of taxes - 1,628 Net income attributable to GAMCO Investors, Inc.'s shareholders $ 26,025 $ 24,776 Weighted average shares outstanding 29,247 25,132 Basic net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 0.89 $ 0.92 Discontinued operations - 0.07 Total $ 0.89 $ 0.99 Diluted: Income from continuing operations $ 26,025 $ 23,148 Income from discontinued operations, net of taxes - 1,628 Net income attributable to GAMCO Investors, Inc.'s shareholders $ 26,025 $ 24,776 Weighted average share outstanding 29,247 25,132 Dilutive stock options and restricted stock awards 437 282 Total 29,684 25,414 Diluted net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 0.88 $ 0.91 Discontinued operations - 0.06 Total $ 0.88 $ 0.97

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Schedule of Debt	Debt consists of the following: March 31, 2016 December 31, 2015 March 31, 2015 Carrying Fair Value Carrying Fair Value Carrying Fair Value Value Level 2 Value Level 2 Value Level 2 (In thousands) AC 4% PIK Note $ 250,000 $ 249,183 $ 250,000 $ 250,000 $ - $ - Loan from GGCP 20,000 20,161 35,000 35,000 - - 5.875% Senior notes 24,103 23,741 24,097 24,437 99,398 109,541 0% Subordinated debentures - - - - 9,936 10,440 Total $ 294,103 $ 293,085 $ 309,097 $ 309,437 $ 109,334 $ 119,981

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity [Abstract]
Dividends	Dividends Payment Record Date Date Amount Three months ended March 31, 2016 March 29, 2016 March 15, 2016 $ 0.02 Three months ended March 31, 2015 March 31, 2015 March 17, 2015 $ 0.07 Voting Rights
Actual and Projected Stock-based Compensation Expense for RSA Shares and Options	For the three months ended March 31, 2016 and March 31, 2015, we recognized stock-based compensation expense of $1.0 million and $1.6 million, respectively. Actual and projected stock-based compensation expense for RSA shares for the years ended December 31, 2015 through December 31, 2024 (based on awards currently issued or granted) is as follows (in thousands): 2015 2016 2017 2018 2019 Q1 $ 1,639 $ 1,037 $ 685 $ 464 $ 365 Q2 1,640 1,036 685 453 365 Q3 1,644 806 602 402 323 Q4 4,945 691 520 366 295 Full Year $ 9,868 $ 3,570 $ 2,492 $ 1,685 $ 1,348 2020 2021 2022 2023 2024 Q1 $ 219 145 $ 93 $ 48 $ 7 Q2 204 145 93 48 7 Q3 169 114 66 24 5 Q4 145 93 48 7 - Full Year $ 737 497 $ 300 $ 127 $ 19

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2016
Discontinued Operations [Abstract]
Summary of Operating Results	The first quarter 2015 results include $0.8 million in costs incurred with respect to the Spin-off and are included in Other operating expenses below. Operating results for the period from January 1, 2015 through March 31, 2015 is summarized below: Period Ended March 31, 2015 Revenues Investment advisory and incentive fees $ 2,119 Distribution fees and other income 134 Institutional research services 2,447 Total revenues 4,700 Expenses Compensation 5,879 Stock based compensation 638 Management fee 302 Distribution costs (29 ) Other operating expenses 2,555 Total expenses 9,345 Operating loss (4,645 ) Other income (expense) Net gain from investments 6,945 Interest and dividend income 746 Interest expense (334 ) Total other income (expense), net 7,357 Income from discontinued operations before income taxes 2,712 Income tax provision 1,101 Income from discontinued operations, net of taxes 1,611 Net loss attributable to noncontrolling interests (17 ) Net income attributable to GAMCO Investors, Inc.'s discontinued operations, net of taxes $ 1,628
Assets and Liabilities of Discontinued Operations	The assets and liabilities of AC have been classified in the consolidated statement of financial condition as of March 31, 2015 as assets and liabilities of discontinued operations and consist of the following: March 31, 2015 Cash and cash equivalents $ 320,373 Investments in securities 120,834 Investments in sponsored registered investment companies 120,831 Investments in partnerships 106,943 Receivable from brokers 19,515 Investment advisory fees receivable 1,462 Receivable from affiliates (28,373 ) Income tax receivable 10 Other assets 11,668 Total assets of discontinued operations 673,263 Payable to brokers 10,128 Income taxes payable and deferred tax liabilities 9,697 Compensation payable 4,571 Securities sold, not yet purchased 8,569 Payable to affiliates (28 ) Mandatorily redeemable noncontrolling interests 1,298 Accrued expenses and other liabilities 1,547 Total liabilities of discontinued operations 35,782 Redeemable noncontrolling interests from discontinued operations 5,519 Noncontrolling interests from discontinued operations 2,726 Net assets of discontinued operations $ 629,236

Investment in Securities, Inves

Investment in Securities, Investment in Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Available for sale securities [Abstract]
Cost	$ 17,592	$ 17,898	$ 13,609
Fair value	36,402	32,607	37,954
Total investments in securities [Abstract]
Cost	17,607	18,283	13,609
Fair value	36,419	32,975	37,954
Common Stock [Member]
Available for sale securities [Abstract]
Cost	17,592	17,898	13,609
Fair value	36,402	32,607	37,954
Investment in Securities [Member] | Trading Securities [Member]
Trading securities [Abstract]
Cost	15	385	0
Fair value	17	368	0
Investment in Securities [Member] | Trading Securities [Member] | Common Stock [Member]
Trading securities [Abstract]
Cost	15	385	0
Fair value	17	368	0
Investment in Securities [Member] | Available-for-sale Securities [Member]
Available for sale securities [Abstract]
Cost	17,592	17,898	13,609
Fair value	36,402	32,607	37,954
Investment in Securities [Member] | Available-for-sale Securities [Member] | Common Stock [Member]
Available for sale securities [Abstract]
Cost	17,592	17,898	13,609
Fair value	$ 36,402	$ 32,607	$ 37,954

Investment in Securities, Secur

Investment in Securities, Securities Sold, Not Yet Purchased (Details) - Investment in Securities [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Trading securities [Abstract]
Cost	$ 0	$ 123	$ 0
Fair value	0	129	0
Trading Securities [Member] | Common Stock [Member]
Trading securities [Abstract]
Cost	0	123	0
Fair value	$ 0	$ 129	$ 0

Investment in Securities, Recla

Investment in Securities, Reclassifications Out of Accumulated Other Comprehensive Income into Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain/(loss) from investments	$ 223	$ 13
Other operating expenses/net gain from investments	4,372	4,663
Income before income taxes	42,127	37,226
Income tax provision	(16,102)	(14,078)
Net income attributable to GAMCO Investors, Inc.'s shareholders	26,025	24,776
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	2	3
Income tax provision	(1)	(1)
Net income attributable to GAMCO Investors, Inc.'s shareholders	1	2
Realized Gain on Sale of AFS Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain/(loss) from investments	2	3
Realized Gain on Donation of AFS Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other operating expenses/net gain from investments	$ 0	$ 0

Investment in Securities, Summa

Investment in Securities, Summary of Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Cost	$ 17,592,000	$ 13,609,000	$ 17,898,000
Gross unrealized gains	18,810,000	24,345,000	14,709,000
Gross unrealized losses	0	0	0
Fair value	36,402,000	37,954,000	32,607,000
Unrealized changes to fair value net of taxes included in other comprehensive income	2,583,000	(467,000)
Proceeds from sale of investment available for sale	308,000	32,000
Gross realized gains on sale of investment available for sale	2,000	3,000
Gross realized losses on sale of investment available for sale	0	0
Common Stock [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Cost	17,592,000	13,609,000	17,898,000
Gross unrealized gains	18,810,000	24,345,000	14,709,000
Gross unrealized losses	0	0	0
Fair value	$ 36,402,000	$ 37,954,000	$ 32,607,000

Investment in Securities, Inv33

Investment in Securities, Investments Classified as Available for Sale in Unrealized Loss Position (Details)	3 Months Ended
	Mar. 31, 2016USD ($)Investment	Mar. 31, 2015USD ($)Investment	Dec. 31, 2015Investment
Investment in Securities [Abstract]
Number of investment holding in loss positions | Investment	0	0	0
Other than temporary impairment losses, investments, available-for-sale securities | $	$ 0	$ 0

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Investments in securities [Abstract]
Total investments in securities	$ 36,419	$ 32,975	$ 37,954
Securities sold, not yet purchased [Abstract]
Total securities sold, not yet purchased	0	129	0
Recurring Basis [Member]
Assets
Cash equivalents	27,909	13,538	11,107
Investments in securities [Abstract]
AFS - Common stocks	36,402	32,607	37,954
Trading - Common stocks	17	368	0
Total investments in securities	36,419	32,975	37,954
Total assets at fair value	64,328	46,513	49,061
Securities sold, not yet purchased [Abstract]
Trading - Common Stocks	0	129	0
Total securities sold, not yet purchased	0	129	0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets
Cash equivalents	27,909	13,538	11,107
Investments in securities [Abstract]
AFS - Common stocks	36,402	32,607	37,954
Trading - Common stocks	17	368	0
Total investments in securities	36,419	32,975	37,954
Total assets at fair value	64,328	46,513	49,061
Securities sold, not yet purchased [Abstract]
Trading - Common Stocks	0	129	0
Total securities sold, not yet purchased	0	129	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets
Cash equivalents	0	0	0
Investments in securities [Abstract]
AFS - Common stocks	0	0	0
Trading - Common stocks	0	0	0
Total investments in securities	0	0	0
Total assets at fair value	0	0	0
Securities sold, not yet purchased [Abstract]
Trading - Common Stocks	0	0	0
Total securities sold, not yet purchased	0	0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets
Cash equivalents	0	0	0
Investments in securities [Abstract]
AFS - Common stocks	0	0	0
Trading - Common stocks	0	0	0
Total investments in securities	0	0	0
Total assets at fair value	0	0	0
Securities sold, not yet purchased [Abstract]
Trading - Common Stocks	0	0	0
Total securities sold, not yet purchased	$ 0	$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Abstract]
Effective income tax rate	38.20%	37.80%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Basic [Abstract]
Income from continuing operations	$ 26,025	$ 23,148
Income from discontinued operations, net of taxes	0	1,628
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 26,025	$ 24,776
Weighted average shares outstanding (in shares)	29,247	25,132
Basic net income per share attributable to GAMCO Investors, Inc.'s shareholders [Abstract]
Continuing operations (in dollars per share)	$ 0.89	$ 0.92
Discontinued operations (in dollars per share)	0	0.07
Basic - Total (in dollars per share)	$ 0.89	$ 0.99
Diluted [Abstract]
Income from continuing operations	$ 26,025	$ 23,148
Income from discontinued operations, net of taxes	0	1,628
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 26,025	$ 24,776
Weighted average shares outstanding (in shares)	29,247	25,132
Dilutive stock options and restricted stock awards (in shares)	437	282
Total (in shares)	29,684	25,414
Diluted net income per share attributable to GAMCO Investors, Inc.'s shareholders [Abstract]
Continuing operations (in dollars per share)	$ 0.88	$ 0.91
Discontinued operations (in dollars per share)	0	0.06
Diluted - Total (in dollars per share)	$ 0.88	$ 0.97

Debt (Details)

Debt (Details) $ / shares in Units, $ in Thousands	Mar. 18, 2016USD ($)	Nov. 30, 2015USD ($)Installment	Nov. 18, 2015USD ($)	May. 31, 2011USD ($)	Dec. 31, 2010USD ($)$ / shares	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)Debenture	Dec. 31, 2015USD ($)	May. 04, 2015USD ($)
Long-term debt [Abstract]
Carrying value						$ 294,103	$ 109,334	$ 309,097
Fair value						$ 293,085	$ 119,981	309,437
Dividend, date of record						Mar. 15, 2016	Mar. 17, 2015
Loss on extinguishment of debt						$ 0	$ (156)
AC 4% PIK Note [Member]
Long-term debt [Abstract]
Carrying value						250,000	0	250,000
Fair value						$ 249,183	0	250,000
Face value of debt		$ 250,000
Debt instrument, maturity date						Nov. 30, 2020
Debt instrument, interest rate		4.00%				4.00%
Debt instrument, number of installments | Installment		5
Debt instrument, periodic payment		$ 50,000
Loan from GGCP [Member]
Long-term debt [Abstract]
Carrying value						$ 20,000	0	35,000
Fair value						20,161	0	35,000
Face value of debt						$ 35,000
Debt instrument, maturity date						Dec. 28, 2016
Repayment of debt	$ 15,000
Debt instrument, term						1 year
Loan from GGCP [Member] | 90-day LIBOR [Member]
Long-term debt [Abstract]
Debt instrument, basis spread on variable rate						3.25%
5.875% Senior Notes [Member]
Long-term debt [Abstract]
Carrying value						$ 24,103	99,398	24,097
Fair value						$ 23,741	109,541	24,437
Face value of debt			$ 100,000	$ 100,000
Debt instrument, maturity date						Jun. 1, 2021
Debt instrument, interest rate				5.875%		5.875%
Debt redemption price			101.00%	101.00%
Debt instrument, repurchased face amount			$ 75,800
Debt maturity period						10 years
0% Subordinated Debentures [Member]
Long-term debt [Abstract]
Carrying value						$ 0	9,936	0
Fair value						$ 0	$ 10,440	$ 0
Face value of debt					$ 86,400
Debt instrument, maturity date						Dec. 31, 2015
Debt instrument, interest rate					0.00%	0.00%
Debt redemption price					100.00%
Effective interest rate					7.45%
Debt maturity period						5 years
Dividend, date of record						Dec. 15, 2010
Dividends declared related to issuance of debt (in dollars per share) | $ / shares					$ 3.20
Par value of debentures (in dollars per share) | $ / shares					$ 100
Number of debentures repurchased | Debenture							25,957
Face value of repurchased debentures							$ 2,600
Loss on extinguishment of debt							$ (156)
Maximum amount of debt and equity to be issued under shelf registration									$ 500,000
Amount available for debt and equity issuance under shelf registration						$ 500,000

Stockholders' Equity, Dividends

Stockholders' Equity, Dividends (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Stockholders' Equity [Abstract]
Shares outstanding (in shares)	29.8	25.8	29.8
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 0.02	$ 0.07
Dividend payment date	Mar. 29, 2016	Mar. 31, 2015
Dividend record date	Mar. 15, 2016	Mar. 17, 2015
Quarterly Dividend [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 0.02	$ 0.07
Dividend payment date	Jun. 28, 2016
Dividend record date	Jun. 14, 2016

Stockholders' Equity, Voting Ri

Stockholders' Equity, Voting Rights, Stock Award and Incentive Plan (Details) $ / shares in Units, $ in Thousands	3 Months Ended					12 Months Ended
	Mar. 31, 2016USD ($)VoteperSharePlan$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares
Stock Award and Incentive Plan [Abstract]
Number of incentive plans | Plan	2
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Actual stock based compensation expense	$ 1,037	$ 4,945	$ 1,644	$ 1,640	$ 1,639	$ 9,868
2,016	3,570
2,017	2,492
2,018	1,685
2,019	1,348
2,020	737
2,021	497
2,022	300
2,023	127
2,024	19
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Compensation cost related to non-vested options not yet recognized	$ 9,700
Stock options exercised (in shares) | shares	0				0
Stock Options [Member] | Maximum [Member]
Stock Award and Incentive Plan [Abstract]
Term of nonqualified stock options	10 years
Restricted Stock Awards [Member]
Stock Award and Incentive Plan [Abstract]
RSA shares outstanding (in shares) | shares	553,100	553,100			707,050	553,100
Average weighted grant price (in dollars per share) | $ / shares	$ 64.02	$ 64.02			$ 67.43	$ 64.02
Restricted Stock Awards [Member] | Vesting in Three Years from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	30.00%
Award vesting period	3 years
Restricted Stock Awards [Member] | Vesting in Five Years from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	70.00%
Award vesting period	5 years
Restricted Stock Awards [Member] | Vesting in Year Four from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	10.00%
Restricted Stock Awards [Member] | Vesting in Year Five from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	10.00%
Restricted Stock Awards [Member] | Vesting in Year Six from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	10.00%
Restricted Stock Awards [Member] | Vesting in Year Seven from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	10.00%
Restricted Stock Awards [Member] | Vesting in Year Eight from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	10.00%
Restricted Stock Awards [Member] | Vesting in Year Nine from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	10.00%
Restricted Stock Awards [Member] | Vesting in Year Ten from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage	10.00%
Q1 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,017	$ 685
2,018	464
2,019	365
2,020	219
2,021	145
2,022	93
2,023	48
2,024	7
Q2 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,016	1,036
2,017	685
2,018	453
2,019	365
2,020	204
2,021	145
2,022	93
2,023	48
2,024	7
Q3 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,016	806
2,017	602
2,018	402
2,019	323
2,020	169
2,021	114
2,022	66
2,023	24
2,024	5
Q4 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,016	691
2,017	520
2,018	366
2,019	295
2,020	145
2,021	93
2,022	48
2,023	7
2,024	$ 0
Class A [Member]
Voting Rights [Abstract]
Number of votes per share | VoteperShare	1
Class A [Member] | Maximum [Member]
Stock Award and Incentive Plan [Abstract]
Number of shares reserved for issuance under each plan (in shares) | shares	3,500,000
Class B [Member]
Voting Rights [Abstract]
Number of votes per share | VoteperShare	10

Stockholders' Equity, Stock Rep

Stockholders' Equity, Stock Repurchase Program (Details) - $ / shares	3 Months Ended		207 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Aug. 04, 2015
Stock Repurchase Program [Abstract]
Incremental Class A shares authorized to buyback (in shares)				500,000
Shares repurchased (in shares)	30,503	41,393	9,583,156
Average price per share of repurchased shares (in dollars per share)	$ 29.42	$ 77.19	$ 44.76
Share available under program to repurchase (in shares)	551,652		551,652

Identifiable Intangible Assets

Identifiable Intangible Assets (Details) - Investment Advisory Contract [Member] - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Gabelli Enterprise Mergers and Acquisitions Fund [Member]
Finite-Lived Intangible Assets [Line Items]
Identifiable intangible asset	$ 1.9	$ 1.9	$ 1.9
Bancroft Fund Ltd. and the Ellsworth Growth and Income Fund Ltd. [Member]
Finite-Lived Intangible Assets [Line Items]
Identifiable intangible asset	$ 1.6	$ 1.6

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($)	Nov. 30, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Other income (expense) [Abstract]
Income/(loss) from discontinued operations, net of taxes		$ 0	$ 1,628,000
Assets and Liabilities of Discontinued Operations [Abstract]
Total assets of discontinued operations		0	673,263,000	$ 0
Total liabilities of discontinued operations		$ 0	35,782,000	$ 0
Discontinued Operations, Disposed of by Means Other than Sale, Spinoff [Member] | Associated Capital Group, Inc. [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on spin-off	$ 0
Costs incurred with respect to spin-off			800,000
Revenue [Abstract]
Investment advisory and incentive fees			2,119,000
Distribution fees and other income			134,000
Institutional research services			2,447,000
Total revenues			4,700,000
Expenses [Abstract]
Compensation			5,879,000
Stock based compensation			638,000
Management fee			302,000
Distribution costs			(29,000)
Other operating expenses			2,555,000
Total expenses			9,345,000
Operating loss			(4,645,000)
Other income (expense) [Abstract]
Net gain from investments			6,945,000
Interest and dividend income			746,000
Interest expense			(334,000)
Total other income (expense), net			7,357,000
Income/(loss) from discontinued operations before income taxes			2,712,000
Income tax provision/(benefit)			1,101,000
Income/(loss) from discontinued operations, net of taxes			1,611,000
Net income/(loss) attributable to noncontrolling interests			(17,000)
Net income/(loss) attributable to GAMCO Investors, Inc.'s discontinued operations, net of taxes			1,628,000
Assets and Liabilities of Discontinued Operations [Abstract]
Cash and cash equivalents			320,373,000
Investments in securities			120,834,000
Investments in sponsored registered investment companies			120,831,000
Investments in partnerships			106,943,000
Receivable from brokers			19,515,000
Investment advisory fees receivable			1,462,000
Receivable from affiliates			(28,373,000)
Income tax receivable			10,000
Other assets			11,668,000
Total assets of discontinued operations			673,263,000
Payable to brokers			10,128,000
Income taxes payable and deferred tax liabilities			9,697,000
Compensation payable			4,571,000
Securities sold, not yet purchased			8,569,000
Payable to affiliates			(28,000)
Mandatorily redeemable noncontrolling interests			1,298,000
Accrued expenses and other liabilities			1,547,000
Total liabilities of discontinued operations			35,782,000
Redeemable noncontrolling interests from discontinued operations			5,519,000
Noncontrolling interests from discontinued operations			2,726,000
Net assets of discontinued operations			$ 629,236,000

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	May. 10, 2016	Apr. 21, 2016	Mar. 18, 2016	May. 10, 2016	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016
Subsequent Event [Line Items]
Average price per share of repurchased shares (in dollars per share)					$ 29.42	$ 77.19	$ 44.76
Dividends declared (in dollars per share)					$ 0.02	$ 0.07
Dividends payable date					Mar. 29, 2016	Mar. 31, 2015
Dividends record date					Mar. 15, 2016	Mar. 17, 2015
Quarterly Dividend [Member]
Subsequent Event [Line Items]
Dividends declared (in dollars per share)					$ 0.02	$ 0.07
Dividends declared date					May 3, 2016
Dividends payable date					Jun. 28, 2016
Dividends record date					Jun. 14, 2016
Loan from GGCP [Member]
Subsequent Event [Line Items]
Repayment on debt			$ 15
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchased (in shares)				100
Average price per share of repurchased shares (in dollars per share)				$ 37.43
Subsequent Event [Member] | Quarterly Dividend [Member]
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.02
Subsequent Event [Member] | Loan from GGCP [Member]
Subsequent Event [Line Items]
Repayment on debt		$ 5