GAMCO Investors (GAMI) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 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	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		10,401,705
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,093,311

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Investment advisory and incentive fees	$ 75,952	$ 79,900	$ 219,594	$ 251,269
Distribution fees and other income	11,769	12,260	33,456	39,390
Total revenues	87,721	92,160	253,050	290,659
Expenses
Compensation	21,233	34,022	62,130	109,177
Management fee	1,163	4,056	3,376	12,385
Distribution costs	11,568	12,363	32,786	40,093
Other operating expenses	5,681	4,443	14,993	14,157
Total expenses	39,645	54,884	113,285	175,812
Operating income	48,076	37,276	139,765	114,847
Other income (expense)
Net gain from investments	55	72	518	220
Interest and dividend income	371	553	1,104	1,584
Interest expense	(3,155)	(1,815)	(9,729)	(5,575)
Total other expense, net	(2,729)	(1,190)	(8,107)	(3,771)
Income before income taxes	45,347	36,086	131,658	111,076
Income tax provision	14,486	13,635	47,229	41,702
Income from continuing operations	30,861	22,451	84,429	69,374
Income from discontinued operations, net of taxes	0	(7,482)	0	(5,528)
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 30,861	$ 14,969	$ 84,429	$ 63,846
Net income attributable to GAMCO Investors, Inc.'s shareholders per share:
Basic - Continuing operations (in dollars per share)	$ 1.06	$ 0.90	$ 2.89	$ 2.77
Basic - Discontinued operations (in dollars per share)	0	(0.30)	0	(0.22)
Basic - Total (in dollars per share)	1.06	0.60	2.89	2.55
Diluted - Continuing operations (in dollars per share)	1.03	0.89	2.85	2.74
Diluted - Discontinued operations (in dollars per share)	0	(0.30)	0	(0.22)
Diluted - Total (in dollars per share)	$ 1.03	$ 0.59	$ 2.85	$ 2.52
Weighted average shares outstanding:
Basic (in shares)	29,185	24,947	29,222	25,047
Diluted (in shares)	30,406	25,241	29,811	25,337
Dividends declared: (in dollars per share)	$ 0.02	$ 0.07	$ 0.06	$ 0.21

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED [Abstract]
Net income		$ 30,861	$ 14,969	$ 84,429	$ 63,846
Other comprehensive loss, net of tax:
Foreign currency translation		(28)	(35)	(121)	(22)
Net unrealized losses on securities available for sale	[1]	506	(6,696)	323	(7,417)
Other comprehensive loss		478	(6,731)	202	(7,439)
Comprehensive income attributable to GAMCO Investors, Inc.		$ 31,339	$ 8,238	$ 84,631	$ 56,407
[1]	Net of income tax expense/(benefit) of ($1,624), ($150), ($107) and ($424), respectively.

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED [Abstract]
Net unrealized losses on securities available for sale, net of income tax benefit	$ 297	$ (3,932)	$ 190	$ (4,356)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION UNAUDITED - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
ASSETS
Cash and cash equivalents	$ 33,852	$ 13,719	$ 62,561
Investments in securities	32,889	32,975	34,095
Receivable from brokers	344	1,091	1,157
Investment advisory fees receivable	26,606	31,048	26,638
Receivable from affiliates	4,745	5,041	27,957
Income tax receivable and deferred tax asset	10,634	6,787	2,409
Other assets	12,198	13,238	10,776
Assets of discontinued operations	0	0	706,523
Total assets	121,268	103,899	872,116
LIABILITIES AND EQUITY
Payable to brokers	10,203	12	533
Income taxes payable and deferred tax liabilities	164	4,823	5,963
Capital lease obligation	5,094	5,170	5,191
Compensation payable	31,469	24,426	83,700
Securities sold, not yet purchased	0	129	0
Payable to affiliates	7,679	7,687	153
Accrued expenses and other liabilities	31,801	28,882	32,467
Liabilities of discontinued operations	0	0	66,614
Sub-total	86,410	71,129	194,621
4.5% Convertible note (due August 15, 2021) (Note F)	109,826	0	0
AC 4% PIK Note (due November 30, 2020) (Note F)	100,000	250,000	0
Loan from GGCP (due December 28, 2016) (Note F)	0	35,000	0
5.875% Senior notes (due June 1, 2021)	24,115	24,097	99,447
Zero coupon subordinated debentures, Face value: $0.0 million at September 30, 2016, $0.0 million at December 31, 2015 and $6.9 million at September 30, 2015, respectively (due December 31, 2015)	0	0	6,750
Total liabilities	320,351	380,226	300,818
Redeemable noncontrolling interests from discontinued operations	0	0	6,018
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	3,135	345	299,769
Retained earnings (deficit)	48,412	(34,224)	661,415
Accumulated other comprehensive income	9,317	9,115	17,575
Treasury stock, at cost (5,025,640, 4,758,794 and 9,046,709 shares, respectively)	(259,980)	(251,596)	(416,147)
Total GAMCO Investors, Inc. stockholders' equity (deficit)	(199,083)	(276,327)	562,645
Noncontrolling interests from discontinued operations	0	0	2,635
Total equity (deficit)	(199,083)	(276,327)	565,280
Total liabilities and equity (deficit)	121,268	103,899	872,116
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 Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
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)	29,500,000	29,800,000	25,500,000
Treasury stock, shares (in shares)	5,025,640	4,758,794	9,046,709
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)	15,480,032	15,422,901	15,387,701
Common Stock, outstanding (in shares)	10,454,392	10,664,107	6,340,992
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)	19,093,311	19,156,792	19,196,792
4.5% Convertible Notes [Member]
LIABILITIES AND EQUITY
Debt instrument, interest rate	4.50%
Debt issuance costs	$ 174
Debt instrument, maturity date	Aug. 15, 2021
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%	5.875%	5.875%
Debt issuance costs	$ 110	$ 128	$ 553
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
Zero coupon subordinated debentures, face value	$ 0	$ 0	$ 6,900

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	(602)
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	0	1,036
Consolidation of a consolidated feeder fund and a partnership	0	0	0	0	0	0	0	996
Deconsolidation of offshore fund	0	0	0	0	0	0	0	(63,256)
Net income (loss)	(99)	0	0	63,846	0	0	63,747	(490)
Net unrealized losses on securities available for sale, net of income tax expense	0	0	0	0	(7,392)	0	(7,392)	0
Amounts reclassified from accumulated other comprehensve income, net of income tax expense (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 ($102)	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	$ 6,018
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	84,429	0	0	84,429
Net unrealized losses on securities available for sale, net of income tax expense		0	0	0	221	0	221
Amounts reclassified from accumulated other comprehensve income, net of income tax expense (benefit)		0	0	0	102	0	102
Foreign currency translation		0	0	0	(121)	0	(121)
Dividends declared		0	0	(1,793)	0	0	(1,793)
Stock based compensation expense		0	3,258	0	0	0	3,258
Reduction of deferred tax asset and additional paid-in capital for excess of recorded RSA tax benefit over actual tax benefit		0	(468)	0	0	0	(468)
Purchase of treasury stock		0	0	0	0	(8,384)	(8,384)
Balance at Sep. 30, 2016		$ 33	$ 3,135	$ 48,412	$ 9,317	$ (259,980)	$ (199,083)

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED [Abstract]
Net unrealized losses on securities available for sale, income tax	$ 129	$ (4,341)
Amounts reclassified from accumulated other comprehensive income, income tax expense (benefit)	$ 61	$ (15)
Dividends declared (in dollars per share)	$ 0.06	$ 0.21
Tax benefit from exercise of stock options		$ 102

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 84,429	$ 63,846
Add: Loss from discontinued operations, net of taxes	0	5,528
Income from continuing operations	84,429	69,374
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	470	466
Stock based compensation expense	3,258	4,923
Deferred income taxes	(3,930)	(1,902)
Tax benefit from exercise of stock options	0	102
Foreign currency translation gain/(loss)	(121)	(22)
Cost basis of donated securities	68	31
Net gains on sales of available for sale securities	(4)	(5)
Accretion of zero coupon debentures	0	502
Loss on extinguishment of zero coupon debentures	0	310
(Increase) decrease in assets:
Investments in trading securities	223	0
Investments in partnerships:
Receivable from affiliates	290	(1,517)
Receivable from brokers	747	526
Investment advisory fees receivable	4,442	11,090
Income tax receivable and deferred tax assets	(3,847)	24
Other assets	534	1,617
Increase (decrease) in liabilities:
Payable to affiliates	(8)	(202)
Payable to brokers	10,190	522
Income taxes payable and deferred tax liabilities	(1,384)	(8,349)
Compensation payable	7,051	52,901
Accrued expenses and other liabilities	2,804	4,470
Total adjustments	20,783	65,487
Net cash provided by operating activities from continuing operations	105,212	134,861
Investing activities
Purchases of available for sale securities	(223)	0
Proceeds from sales of available for sale securities	408	51
Net cash provided by investing activities from continuing operations	185	51
Financing activities
Net cash transferred from AC	0	77,533
Issuance of 4.5% Convertible note	109,826	0
Proceeds from exercise of stock options	0	1,167
Dividends paid	(1,752)	(5,252)
Repurchase of Zero coupon subordinated debentures	0	(6,224)
Purchase of treasury stock	(8,384)	(21,530)
Repayment of AC 4% PIK Note	(150,000)	0
Repayment of loan from GGCP	(35,000)	0
Amortization of debt issuance costs	18	73
Net cash (used in) provided by financing activities from continuing operations	(85,292)	45,767
Cash flows of discontinued operations
Net cash provided by operating activities	0	59,154
Net cash used in investing activities	0	(41,464)
Net cash used in financing activities	0	(148,510)
Net cash used in discontinued operations	0	(130,820)
Effect of exchange rates on cash and cash equivalents	28	8
Net increase/(decrease) in cash and cash equivalents	20,133	49,867
Cash and cash equivalents at beginning of period	13,719	12,694
Cash and cash equivalents at end of period	33,852	62,561
Supplemental disclosures of cash flow information:
Cash paid for interest	4,561	3,531
Cash paid for taxes	$ 55,216	$ 49,587

CONDENSED CONSOLIDATED STATEM10

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Non-cash activity:
Accrued restricted stock award dividends	$ 41	$ 129
Reduction of deferred tax asset and additional paid-in capital for excess of recorded RSA tax benefit over actual tax benefit	$ (468)
4.5% Convertible Notes [Member]
Financing activities
Debt instrument, interest rate	4.50%
AC 4% PIK Note [Member]
Financing activities
Debt instrument, interest rate	4.00%
Zero Coupon Subordinated Debentures [Member]
Financing activities
Debt instrument, interest rate	0.00%

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 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. 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 September 30, 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 and nine months ended September 30, 2015 as discontinued operations and financial information related to discontinued operations has been excluded from the notes to these interim condensed consolidated 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. The Company adopted this guidance retrospectively on January 1, 2016. As a result, the debt issuance costs related to the 5.875% Senior Notes are now shown net in the liability section on the consolidated statements of financial condition. At December 31, 2015 and September 30, 2015, the 5.875% Senior Notes are now disclosed net of issuance costs of $128,000 and $553,000, respectively. These amounts were previously disclosed in other assets on the consolidated statements of financial condition. 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. In August 2016, the FASB issued ASU 2016-15, which adds and clarifies guidance on the classification of certain cash receipts and payments in the consolidated statements of cash flows. For public companies, the ASU is effective for annual reporting periods beginning after December 15, 2017, 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	9 Months Ended
	Sep. 30, 2016
Investment in Securities [Abstract]
Investment in Securities	B. Investment in Securities Investments in securities at September 30, 2016, December 31, 2015 and September 30, 2015 consisted of the following: September 30, 2016 December 31, 2015 September 30, 2015 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 16 $ 16 $ 385 $ 368 $ - $ - Total trading securities 16 16 385 368 - - Available for sale securities: Common stocks 17,649 32,873 17,898 32,607 13,561 34,095 Total available for sale securities 17,649 32,873 17,898 32,607 13,561 34,095 Total investments in securities $ 17,665 $ 32,889 $ 18,283 $ 32,975 $ 13,561 $ 34,095 Securities sold, not yet purchased at September 30, 2016, December 31, 2015 and September 30, 2015 consisted of the following: September 30, 2016 December 31, 2015 September 30, 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 and nine months ended September 30, 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 September 30, 2016 2015 $ - $ - Net gain from investments Realized gain on sale of AFS securities 7 45 Other operating expenses/net gain from investments Realized gain on donation of AFS securities 7 45 Income before income taxes (3 ) (17 ) Income tax provision $ 4 $ 28 Net income Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Nine Months Ended September 30, 2016 2015 $ 4 $ 5 Net gain from investments Realized gain on sale of AFS securities 159 80 Other operating expenses/net gain from investments Realized gain on donation of AFS securities 163 85 Income before income taxes (61 ) (32 ) Income tax provision $ 102 $ 53 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 September 30, 2016, December 31, 2015 and September 30, 2015: September 30, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 17,649 $ 15,224 $ - $ 32,873 Total available for sale securities $ 17,649 $ 15,224 $ - $ 32,873 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 September 30, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,561 $ 20,534 $ - $ 34,095 Total available for sale securities $ 13,561 $ 20,534 $ - $ 34,095 Changes in net unrealized gain, net of taxes, for the three months ended September 30, 2016 of $0.5 million and changes in net unrealized loss, net of taxes, for the three months ended September 30, 2015 of $6.7 million have been included in other comprehensive income, a component of equity, at September 30, 2016 and September 30, 2015, respectively. There were no sales of investments available for sale for the three months ended September 30, 2016 and September 30, 2015. Changes in net unrealized gain, net of taxes, for the nine months ended September 30, 2016 of $0.3 million and changes in net unrealized loss, net of taxes, for the nine months ended September 30, 2015 of $7.4 million have been included in other comprehensive income, a component of equity, at September 30, 2016 and September 30, 2015, respectively. During the nine months ended September 30, 2016 and September 30, 2015, proceeds from the sales of investments available for sale were approximately $408,000 and $51,000, respectively. For the nine months ended September 30, 2016 and September 30, 2015, gross gains on the sale of investments available for sale amounted to $4,000 and $5,000, 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 nine months ended September 30, 2016 or September 30, 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 September 30, 2016, December 31, 2015 or September 30, 2015. For the three and nine months ended September 30, 2016 and 2015 there were no losses on available for sale securities that were deemed to be other than temporary.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 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 September 30, 2016, December 31, 2015 and September 30, 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 September 30, 2016 (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) 2016 Cash equivalents $ 33,576 $ - $ - $ 33,576 Investments in securities: AFS - Common stocks 32,873 - - 32,873 Trading - Common stocks 16 - - 16 Total investments in securities 32,889 - - 32,889 Total assets at fair value $ 66,465 $ - $ - $ 66,465 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 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 $ 62,398 $ - $ - $ 62,398 Investments in securities: AFS - Common stocks 34,095 - - 34,095 Trading - Common stocks - - - - Total investments in securities 34,095 - - 34,095 Total assets at fair value $ 96,493 $ - $ - $ 96,493 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ - $ - $ - $ - Total securities sold, not yet purchased $ - $ - $ - $ - During the quarters ended September 30, 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 September 30, 2016, December 31, 2015 or September 30, 2015.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Taxes [Abstract]
Income Taxes	D. Income Taxes The effective tax rate ("ETR) for the three months ended September 30, 2016 and September 30, 2015 was 31.9% and 37.8%, respectively. The ETR for the nine months ended September 30, 2016 and September 30, 2015 was 35.9% and 37.5%, respectively. The change in rates is primarily due to the reversal of tax accruals related to the closing out of a state audit.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings Per Share	E. Earnings Per Share The Three Months Ended September 30, Nine Months Ended September 30, (in thousands, except per share amounts) 2016 2015 2016 2015 Basic: Income from continuing operations $ 30,861 $ 22,451 $ 84,429 $ 69,374 Income from discontinued operations, net of taxes - (7,482 ) - (5,528 ) Net income attributable to GAMCO Investors, Inc.'s shareholders $ 30,861 $ 14,969 $ 84,429 $ 63,846 Weighted average shares outstanding 29,185 24,947 29,222 25,047 Basic net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 1.06 $ 0.90 $ 2.89 $ 2.77 Discontinued operations - (0.30 ) - (0.22 ) Total $ 1.06 $ 0.60 $ 2.89 $ 2.55 Diluted: Income from continuing operations $ 30,861 $ 22,451 $ 84,429 $ 69,374 Add interest on convertible note, net of management fee and taxes 387 - 387 - Total income from continuing operations 31,248 22,451 84,816 69,374 Income from discontinued operations, net of taxes - (7,482 ) - (5,528 ) Net income attributable to GAMCO Investors, Inc.'s shareholders $ 31,248 $ 14,969 $ 84,816 $ 63,846 Weighted average share outstanding 29,185 24,947 29,222 25,047 Dilutive stock options and restricted stock awards 221 294 253 290 Assumed conversion of convertible note 1,000 - 336 - Total 30,406 25,241 29,811 25,337 Diluted net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 1.03 $ 0.89 $ 2.85 $ 2.74 Discontinued operations - (0.30 ) - (0.22 ) Total $ 1.03 $ 0.59 $ 2.85 $ 2.52

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt [Abstract]
Debt	F. Debt Debt consists of the following: September 30, 2016 December 31, 2015 September 30, 2015 Carrying Fair Value Carrying Fair Value Carrying Fair Value Value Level 2 Value Level 2 Value Level 2 (In thousands) 4.5 % Convertible note $ 109,826 $ 112,172 $ - $ - $ - $ - AC 4% PIK Note 100,000 101,347 250,000 250,000 - - Loan from GGCP - - 35,000 35,000 - - 5.875% Senior notes 24,115 25,073 24,097 24,437 99,447 106,625 0% Subordinated debentures - - - - 6,750 6,800 Total $ 233,941 $ 238,592 $ 309,097 $ 309,437 $ 106,197 $ 113,425 4.5% Convertible Note On August 15, 2016, the Company issued and sold a 5-year, $110 million convertible note (“Convertible Note”). The note bears interest at a rate of 4.5% per annum and is convertible into shares of the Company’s Class A Common stock (“Class A Stock”) at an initial conversion price of $55.00 per share. The Convertible Note is initially convertible into two million shares of the Company’s Class A Stock, subject to adjustment pursuant to the terms of the Convertible Note. The Company is required to repurchase the Convertible Note at the request of the holder on specified dates or after certain circumstances involving a Fundamental Change (as defined in the Convertible Note). The Company recorded $174,000 of costs in connection with the issuance of the Convertible Note. GGCP, Inc. (“GGCP”), which owns approximately 62% of the equity interest of the Company, has deposited cash equal to the principal amount of the Note and six months interest (“Initial Deposit”) into an escrow account established pursuant to an escrow agreement by and among GGCP, the Company, the Convertible Note holder and the escrow agent. In connection with the Initial Deposit made by GGCP, the Company has agreed that GGCP has a right to demand payment in an amount equal to any funds withdrawn from the escrow account by the Convertible Note holder. 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. 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. During the three months ended September 30, 2016, the Company prepaid $150 million of principal of the AC 4% PIK Note. $50 million of the prepayment was applied against the principal amount due on November 30, 2016, $40 million against the principal amount due on November 30, 2017, $30 million against the principal amount due on November 30, 2018, and $30 million against the principal amount due on November 30, 2019. Of the $100 million principal amount outstanding at September 30, 2016, $10 million is due on November 30, 2017, $20 million is due on November 30, 2018, $20 million is due on November 30, 2019, and $50 million is due on November 30, 2020. 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 September 30, 2016, December 31, 2015 and September 30, 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. On March 18, 2016, the Company paid back $15.0 million of the loan. During the second quarter of 2016 the Company paid back the remaining $20.0 million of the loan. At December 31, 2015, the debt was recorded at its face value of $35.0 million. 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 and nine month periods ended September 30, 2015 the Company repurchased 16 Debentures and 62,242 Debentures, respectively, having a face value of $1,600 and $6.2 million, respectively. The redemptions were accounted for as extinguishments of debt and resulted in losses of less than $1,000 and $310,000, respectively, 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 September 30, 2015, the debt was recorded at its accreted value of $6.8 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 September 30, 2016, $500 million is available on the shelf.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity [Abstract]
Stockholders' Equity	G. Stockholders' Equity Shares outstanding were 29.5 million, 29.8 million and 25.5 million on September 30, 2016, December 31, 2015 and September 30, 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 June 30, 2016 June 28, 2016 June 14, 2016 0.02 Three months ended September 30, 2016 September 27, 2016 September 13, 2016 0.02 Nine months ended September 30, 2016 $ 0.06 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 Voting Rights The holders of 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 September 30, 2016, December 31, 2015 and September 30, 2015, there were 427,290 RSA shares, 553,100 RSA shares and 688,550 RSA shares outstanding, respectively, that were previously issued at an average weighted grant price of $65.72, $64.02 and $67.34, 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 September 30, 2016 and September 30, 2015, we recognized stock-based compensation expense of $1.2 million and $1.6 million, respectively. For the nine months ended September 30, 2016 and September 30, 2015, we recognized stock-based compensation expense of $3.3 million and $4.9 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 2020 2021 2022 2023 2024 Q1 $ 1,639 $ 1,037 $ 685 $ 464 $ 365 219 145 93 48 7 Q2 1,640 1,036 685 453 365 204 145 93 48 7 Q3 1,644 1,186 602 402 323 169 114 66 24 5 Q4 4,945 691 520 366 295 145 93 48 7 - Full Year $ 9,868 $ 3,950 $ 2,492 $ 1,685 $ 1,348 737 497 300 127 19 The total compensation cost related to non-vested RSAs not yet recognized is approximately $7.9 million as of September 30, 2016. There were no options exercised for the three or nine months ended September 30, 2016. For both the three and nine months ended September 30, 2015 proceeds from the exercise of 26,000 stock options were $1.2 million resulting in a tax benefit to GAMCO of $102,000. 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. For the three months ended September 30, 2016 and September 30, 2015, the Company repurchased 223,811 shares and 172,007 shares, respectively, at an average price per share of $31.50 and $61.11, respectively. For the nine months ended September 30, 2016 and September 30, 2015, the Company repurchased 266,846 shares and 321,488 shares, respectively, at an average price per share of $31.41 and $66.96, respectively. From the inception of the program through September 30, 2016, 9,819,499 shares have been repurchased at an average price of $44.44 per share. At September 30, 2016, the total shares available under the program to be repurchased in the future were 315,309.

Identifiable Intangible Assets

Identifiable Intangible Assets	9 Months Ended
	Sep. 30, 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 September 30, 2016, December 31, 2015 and September 30, 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 September 30, 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 September 30, 2016 or September 30, 2015, and as such there was no impairment analysis performed or charge recorded.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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 September 30, 2016.

Discontinued Operations

Discontinued Operations	9 Months Ended
	Sep. 30, 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 three and nine months ended September 30, 2015 results include $0 and $1.5 million, respectively, 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 September 30, 2015 is summarized below: Three Months Ended Nine Months Ended September 30, 2015 September 30, 2015 Revenues Investment advisory and incentive fees $ 2,560 $ 6,954 Distribution fees and other income 41 276 Institutional research services 2,446 7,278 Total revenues 5,047 14,508 Expenses Compensation 5,079 16,555 Stock based compensation 630 1,895 Management fee (1,374 ) (1,025 ) Distribution costs (19 ) (82 ) Other operating expenses 1,811 6,922 Total expenses 6,127 24,265 Operating loss (1,080 ) (9,757 ) Other income (expense) Net gain from investments (11,539 ) (834 ) Interest and dividend income 551 2,303 Interest expense (322 ) (984 ) Total other income (expense), net (11,310 ) 485 Loss from discontinued operations before income taxes (12,390 ) (9,272 ) Income tax benefit (4,390 ) (3,155 ) Loss from discontinued operations, net of taxes (8,000 ) (6,117 ) Net loss attributable to noncontrolling interests (518 ) (589 ) Net loss attributable to GAMCO Investors, Inc.'s discontinued operations, net of taxes $ (7,482 ) $ (5,528 ) The assets and liabilities of AC have been classified in the consolidated statement of financial condition as of September 30, 2015 as assets and liabilities of discontinued operations and consist of the following: September 30, 2015 Cash and cash equivalents $ 363,055 Investments in securities 92,822 Investments in sponsored registered investment companies 115,046 Investments in partnerships 101,025 Receivable from brokers 51,761 Investment advisory fees receivable 1,991 Receivable from affiliates (27,957 ) Income tax receivable - Other assets 8,780 Total assets of discontinued operations 706,523 Payable to brokers 48,541 Income taxes payable and deferred tax liabilities 4,566 Compensation payable 5,047 Securities sold, not yet purchased 5,577 Payable to affiliates (153 ) Mandatorily redeemable noncontrolling interests 1,257 Accrued expenses and other liabilities 1,779 Total liabilities of discontinued operations 66,614 Redeemable noncontrolling interests from discontinued operations 6,018 Noncontrolling interests from discontinued operations 2,635 Net assets of discontinued operations $ 631,256

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	K. Subsequent Events On November 4, 2016, the Board of Directors declared its regular quarterly dividend of $0.02 per share to all of its shareholders, payable on December 27, 2016 to shareholders of record on December 13, 2016. From October 1, 2016 to November 4, 2016, the Company repurchased 60,237 shares at $29.06 per share.

Significant Accounting Polici22

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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.
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 September 30, 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 and nine months ended September 30, 2015 as discontinued operations and financial information related to discontinued operations has been excluded from the notes to these interim condensed consolidated 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. The Company adopted this guidance retrospectively on January 1, 2016. As a result, the debt issuance costs related to the 5.875% Senior Notes are now shown net in the liability section on the consolidated statements of financial condition. At December 31, 2015 and September 30, 2015, the 5.875% Senior Notes are now disclosed net of issuance costs of $128,000 and $553,000, respectively. These amounts were previously disclosed in other assets on the consolidated statements of financial condition. 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. In August 2016, the FASB issued ASU 2016-15, which adds and clarifies guidance on the classification of certain cash receipts and payments in the consolidated statements of cash flows. For public companies, the ASU is effective for annual reporting periods beginning after December 15, 2017, 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)	9 Months Ended
	Sep. 30, 2016
Investment in Securities [Abstract]
Investments in Securities	Investments in securities at September 30, 2016, December 31, 2015 and September 30, 2015 consisted of the following: September 30, 2016 December 31, 2015 September 30, 2015 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 16 $ 16 $ 385 $ 368 $ - $ - Total trading securities 16 16 385 368 - - Available for sale securities: Common stocks 17,649 32,873 17,898 32,607 13,561 34,095 Total available for sale securities 17,649 32,873 17,898 32,607 13,561 34,095 Total investments in securities $ 17,665 $ 32,889 $ 18,283 $ 32,975 $ 13,561 $ 34,095
Securities Sold, Not Yet Purchased	Securities sold, not yet purchased at September 30, 2016, December 31, 2015 and September 30, 2015 consisted of the following: September 30, 2016 December 31, 2015 September 30, 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 and nine months ended September 30, 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 September 30, 2016 2015 $ - $ - Net gain from investments Realized gain on sale of AFS securities 7 45 Other operating expenses/net gain from investments Realized gain on donation of AFS securities 7 45 Income before income taxes (3 ) (17 ) Income tax provision $ 4 $ 28 Net income Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Nine Months Ended September 30, 2016 2015 $ 4 $ 5 Net gain from investments Realized gain on sale of AFS securities 159 80 Other operating expenses/net gain from investments Realized gain on donation of AFS securities 163 85 Income before income taxes (61 ) (32 ) Income tax provision $ 102 $ 53 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 September 30, 2016, December 31, 2015 and September 30, 2015: September 30, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 17,649 $ 15,224 $ - $ 32,873 Total available for sale securities $ 17,649 $ 15,224 $ - $ 32,873 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 September 30, 2015 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 13,561 $ 20,534 $ - $ 34,095 Total available for sale securities $ 13,561 $ 20,534 $ - $ 34,095

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016, December 31, 2015 and September 30, 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 September 30, 2016 (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) 2016 Cash equivalents $ 33,576 $ - $ - $ 33,576 Investments in securities: AFS - Common stocks 32,873 - - 32,873 Trading - Common stocks 16 - - 16 Total investments in securities 32,889 - - 32,889 Total assets at fair value $ 66,465 $ - $ - $ 66,465 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 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 $ 62,398 $ - $ - $ 62,398 Investments in securities: AFS - Common stocks 34,095 - - 34,095 Trading - Common stocks - - - - Total investments in securities 34,095 - - 34,095 Total assets at fair value $ 96,493 $ - $ - $ 96,493 Liabilities Securities sold, not yet purchased: Trading - Common stocks $ - $ - $ - $ - Total securities sold, not yet purchased $ - $ - $ - $ -

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
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) 2016 2015 2016 2015 Basic: Income from continuing operations $ 30,861 $ 22,451 $ 84,429 $ 69,374 Income from discontinued operations, net of taxes - (7,482 ) - (5,528 ) Net income attributable to GAMCO Investors, Inc.'s shareholders $ 30,861 $ 14,969 $ 84,429 $ 63,846 Weighted average shares outstanding 29,185 24,947 29,222 25,047 Basic net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 1.06 $ 0.90 $ 2.89 $ 2.77 Discontinued operations - (0.30 ) - (0.22 ) Total $ 1.06 $ 0.60 $ 2.89 $ 2.55 Diluted: Income from continuing operations $ 30,861 $ 22,451 $ 84,429 $ 69,374 Add interest on convertible note, net of management fee and taxes 387 - 387 - Total income from continuing operations 31,248 22,451 84,816 69,374 Income from discontinued operations, net of taxes - (7,482 ) - (5,528 ) Net income attributable to GAMCO Investors, Inc.'s shareholders $ 31,248 $ 14,969 $ 84,816 $ 63,846 Weighted average share outstanding 29,185 24,947 29,222 25,047 Dilutive stock options and restricted stock awards 221 294 253 290 Assumed conversion of convertible note 1,000 - 336 - Total 30,406 25,241 29,811 25,337 Diluted net income per share attributable to GAMCO Investors, Inc.'s shareholders: Continuing operations $ 1.03 $ 0.89 $ 2.85 $ 2.74 Discontinued operations - (0.30 ) - (0.22 ) Total $ 1.03 $ 0.59 $ 2.85 $ 2.52

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt [Abstract]
Schedule of Debt	Debt consists of the following: September 30, 2016 December 31, 2015 September 30, 2015 Carrying Fair Value Carrying Fair Value Carrying Fair Value Value Level 2 Value Level 2 Value Level 2 (In thousands) 4.5 % Convertible note $ 109,826 $ 112,172 $ - $ - $ - $ - AC 4% PIK Note 100,000 101,347 250,000 250,000 - - Loan from GGCP - - 35,000 35,000 - - 5.875% Senior notes 24,115 25,073 24,097 24,437 99,447 106,625 0% Subordinated debentures - - - - 6,750 6,800 Total $ 233,941 $ 238,592 $ 309,097 $ 309,437 $ 106,197 $ 113,425

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 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 June 30, 2016 June 28, 2016 June 14, 2016 0.02 Three months ended September 30, 2016 September 27, 2016 September 13, 2016 0.02 Nine months ended September 30, 2016 $ 0.06 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
Actual and Projected Stock-based Compensation Expense for RSA Shares and Options	For the three months ended September 30, 2016 and September 30, 2015, we recognized stock-based compensation expense of $1.2 million and $1.6 million, respectively. For the nine months ended September 30, 2016 and September 30, 2015, we recognized stock-based compensation expense of $3.3 million and $4.9 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 2020 2021 2022 2023 2024 Q1 $ 1,639 $ 1,037 $ 685 $ 464 $ 365 219 145 93 48 7 Q2 1,640 1,036 685 453 365 204 145 93 48 7 Q3 1,644 1,186 602 402 323 169 114 66 24 5 Q4 4,945 691 520 366 295 145 93 48 7 - Full Year $ 9,868 $ 3,950 $ 2,492 $ 1,685 $ 1,348 737 497 300 127 19

Discontinued Operations (Tables

Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 2016
Discontinued Operations [Abstract]
Summary of Operating Results	The three and nine months ended September 30, 2015 results include $0 and $1.5 million, respectively, 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 September 30, 2015 is summarized below: Three Months Ended Nine Months Ended September 30, 2015 September 30, 2015 Revenues Investment advisory and incentive fees $ 2,560 $ 6,954 Distribution fees and other income 41 276 Institutional research services 2,446 7,278 Total revenues 5,047 14,508 Expenses Compensation 5,079 16,555 Stock based compensation 630 1,895 Management fee (1,374 ) (1,025 ) Distribution costs (19 ) (82 ) Other operating expenses 1,811 6,922 Total expenses 6,127 24,265 Operating loss (1,080 ) (9,757 ) Other income (expense) Net gain from investments (11,539 ) (834 ) Interest and dividend income 551 2,303 Interest expense (322 ) (984 ) Total other income (expense), net (11,310 ) 485 Loss from discontinued operations before income taxes (12,390 ) (9,272 ) Income tax benefit (4,390 ) (3,155 ) Loss from discontinued operations, net of taxes (8,000 ) (6,117 ) Net loss attributable to noncontrolling interests (518 ) (589 ) Net loss attributable to GAMCO Investors, Inc.'s discontinued operations, net of taxes $ (7,482 ) $ (5,528 )
Assets and Liabilities of Discontinued Operations	The assets and liabilities of AC have been classified in the consolidated statement of financial condition as of September 30, 2015 as assets and liabilities of discontinued operations and consist of the following: September 30, 2015 Cash and cash equivalents $ 363,055 Investments in securities 92,822 Investments in sponsored registered investment companies 115,046 Investments in partnerships 101,025 Receivable from brokers 51,761 Investment advisory fees receivable 1,991 Receivable from affiliates (27,957 ) Income tax receivable - Other assets 8,780 Total assets of discontinued operations 706,523 Payable to brokers 48,541 Income taxes payable and deferred tax liabilities 4,566 Compensation payable 5,047 Securities sold, not yet purchased 5,577 Payable to affiliates (153 ) Mandatorily redeemable noncontrolling interests 1,257 Accrued expenses and other liabilities 1,779 Total liabilities of discontinued operations 66,614 Redeemable noncontrolling interests from discontinued operations 6,018 Noncontrolling interests from discontinued operations 2,635 Net assets of discontinued operations $ 631,256

Significant Accounting Polici29

Significant Accounting Policies (Details) - 5.875% Senior Notes [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	May 31, 2011
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt instrument, interest rate	5.875%	5.875%	5.875%	5.875%
Debt issuance costs	$ 110	$ 128	$ 553
ASU 2015-03 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt instrument, interest rate		5.875%	5.875%
Debt issuance costs		$ 128	$ 553

Investment in Securities, Inves

Investment in Securities, Investment in Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Trading securities [Abstract]
Cost	$ 16	$ 385	$ 0
Fair value	16	368	0
Available for sale securities [Abstract]
Cost	17,649	17,898	13,561
Fair value	32,873	32,607	34,095
Total investments in securities [Abstract]
Cost	17,665	18,283	13,561
Fair value	32,889	32,975	34,095
Common Stock [Member]
Trading securities [Abstract]
Cost	16	385	0
Fair value	16	368	0
Available for sale securities [Abstract]
Cost	17,649	17,898	13,561
Fair value	$ 32,873	$ 32,607	$ 34,095

Investment in Securities, Secur

Investment in Securities, Securities Sold, Not Yet Purchased (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Trading securities [Abstract]
Proceeds	$ 0	$ 123	$ 0
Fair value	0	129	0
Common Stock [Member]
Trading securities [Abstract]
Proceeds	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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain from investments	$ 55	$ 72	$ 518	$ 220
Other operating expenses/net gain from investments	5,681	4,443	14,993	14,157
Income before income taxes	45,347	36,086	131,658	111,076
Income tax provision	(14,486)	(13,635)	(47,229)	(41,702)
Net income attributable to GAMCO Investors, Inc.'s shareholders	30,861	14,969	84,429	63,846
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before income taxes	7	45	163	85
Income tax provision	(3)	(17)	(61)	(32)
Net income attributable to GAMCO Investors, Inc.'s shareholders	4	28	102	53
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 from investments	0	0	4	5
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	$ 7	$ 45	$ 159	$ 80

Investment in Securities, Summa

Investment in Securities, Summary of Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value (Details) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Cost		$ 17,649,000	$ 13,561,000	$ 17,649,000	$ 13,561,000	$ 17,898,000
Gross unrealized gains		15,224,000	20,534,000	15,224,000	20,534,000	14,709,000
Gross unrealized losses		0	0	0	0	0
Fair value		32,873,000	34,095,000	32,873,000	34,095,000	32,607,000
Unrealized changes to fair value net of taxes included in other comprehensive income	[1]	506,000	(6,696,000)	323,000	(7,417,000)
Proceeds from sale of investment available for sale		0	0	408,000	51,000
Gross realized gains on sale of investment available for sale		0	0	4,000	5,000
Gross realized losses on sale of investment available for sale		0	0	0	0
Common Stock [Member]
Available-for-sale Securities, Fair Value to Amortized Cost Basis [Abstract]
Cost		17,649,000	13,561,000	17,649,000	13,561,000	17,898,000
Gross unrealized gains		15,224,000	20,534,000	15,224,000	20,534,000	14,709,000
Gross unrealized losses		0	0	0	0	0
Fair value		$ 32,873,000	$ 34,095,000	$ 32,873,000	$ 34,095,000	$ 32,607,000
[1]	Net of income tax expense/(benefit) of ($1,624), ($150), ($107) and ($424), respectively.

Investment in Securities, Inv34

Investment in Securities, Investments Classified as Available for Sale in Unrealized Loss Position (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)Investment	Sep. 30, 2015USD ($)Investment	Sep. 30, 2016USD ($)Investment	Sep. 30, 2015USD ($)Investment	Dec. 31, 2015Investment
Schedule of Available-for-sale Securities [Line Items]
Number of investment holding in loss positions | Investment	0	0	0	0	0
Losses on available for sale securities deemed to be other than temporary | $	$ 0	$ 0	$ 0	$ 0

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015
Investments in securities [Abstract]
Total investments in securities	$ 32,889	$ 32,975	$ 34,095
Securities sold, not yet purchased [Abstract]
Total securities sold, not yet purchased	0	129	0
Recurring Basis [Member]
Assets [Abstract]
Cash equivalents	33,576	13,538	62,398
Investments in securities [Abstract]
AFS - Common stocks	32,873	32,607	34,095
Trading - Common stocks	16	368	0
Total investments in securities	32,889	32,975	34,095
Total assets at fair value	66,465	46,513	96,493
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 [Abstract]
Cash equivalents	33,576	13,538	62,398
Investments in securities [Abstract]
AFS - Common stocks	32,873	32,607	34,095
Trading - Common stocks	16	368	0
Total investments in securities	32,889	32,975	34,095
Total assets at fair value	66,465	46,513	96,493
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 [Abstract]
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 [Abstract]
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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Taxes [Abstract]
Effective income tax rate	31.90%	37.80%	35.90%	37.50%

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, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Basic [Abstract]
Income from continuing operations	$ 30,861	$ 22,451	$ 84,429	$ 69,374
Income from discontinued operations, net of taxes	0	(7,482)	0	(5,528)
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 30,861	$ 14,969	$ 84,429	$ 63,846
Weighted average shares outstanding (in shares)	29,185	24,947	29,222	25,047
Basic net income per share attributable to GAMCO Investors, Inc.'s shareholders [Abstract]
Continuing operations (in dollars per share)	$ 1.06	$ 0.90	$ 2.89	$ 2.77
Discontinued operations (in dollars per share)	0	(0.30)	0	(0.22)
Basic - Total (in dollars per share)	$ 1.06	$ 0.60	$ 2.89	$ 2.55
Diluted [Abstract]
Income from continuing operations	$ 30,861	$ 22,451	$ 84,429	$ 69,374
Add interest on convertible note, net of management fee and taxes	387	0	387	0
Total income from continuing operations	31,248	22,451	84,816	69,374
Income from discontinued operations, net of taxes	0	(7,482)	0	(5,528)
Net income attributable to GAMCO Investors, Inc.'s shareholders	$ 31,248	$ 14,969	$ 84,816	$ 63,846
Weighted average shares outstanding (in shares)	29,185	24,947	29,222	25,047
Dilutive stock options and restricted stock awards (in shares)	221	294	253	290
Assumed conversion of convertible note (in shares)	1,000	0	336	0
Total (in shares)	30,406	25,241	29,811	25,337
Diluted net income per share attributable to GAMCO Investors, Inc.'s shareholders [Abstract]
Continuing operations (in dollars per share)	$ 1.03	$ 0.89	$ 2.85	$ 2.74
Discontinued operations (in dollars per share)	0	(0.30)	0	(0.22)
Diluted - Total (in dollars per share)	$ 1.03	$ 0.59	$ 2.85	$ 2.52

Debt (Details)

Debt (Details) $ / shares in Units, shares in Millions	Mar. 18, 2016USD ($)	Nov. 18, 2015USD ($)	May 31, 2011USD ($)	Dec. 31, 2010USD ($)$ / shares	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Sep. 30, 2015USD ($)Debenture	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)Debenture	Aug. 15, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Nov. 30, 2015USD ($)	May 04, 2015USD ($)
Long-term debt [Abstract]
Carrying value					$ 233,941,000		$ 106,197,000	$ 233,941,000	$ 106,197,000		$ 309,097,000
Fair value					238,592,000		113,425,000	238,592,000	113,425,000		309,437,000
Loss on extinguishment of debt								0	(310,000)
Prepayment of debt								150,000,000	0
Principal amount outstanding					233,941,000		106,197,000	233,941,000	106,197,000		309,097,000
4.5% Convertible Notes [Member]
Long-term debt [Abstract]
Carrying value					109,826,000		0	109,826,000	0		0
Fair value					$ 112,172,000		0	$ 112,172,000	0		0
Debt instrument, interest rate					4.50%			4.50%		4.50%
Debt instrument, term								5 years
Face value of debt										$ 110,000,000
Debt instrument, maturity date								Aug. 15, 2021
Debt issuance costs					$ 174,000			$ 174,000		$ 174,000
Principal amount outstanding					109,826,000		0	109,826,000	0		0
4.5% Convertible Notes [Member] | Common Class A [Member]
Long-term debt [Abstract]
Debt instrument, conversion price (in dollars per share) | $ / shares										$ 55
Debt instrument, shares issuable in conversion (in shares) | shares										2
AC 4% PIK Note [Member]
Long-term debt [Abstract]
Carrying value					100,000,000		0	100,000,000	0		250,000,000
Fair value					$ 101,347,000		0	$ 101,347,000	0		250,000,000
Debt instrument, interest rate					4.00%			4.00%				4.00%
Face value of debt					$ 100,000,000			$ 100,000,000				$ 250,000,000
Debt instrument, maturity date								Nov. 30, 2020
Prepayment of debt					150,000,000
Principal amount outstanding					100,000,000		0	$ 100,000,000	0		250,000,000
AC 4% PIK Note [Member] | Principal Amount Due on November 30, 2016 [Member]
Long-term debt [Abstract]
Prepayment of debt					50,000,000
AC 4% PIK Note [Member] | Principal Amount Due on November 30, 2017 [Member]
Long-term debt [Abstract]
Face value of debt					10,000,000			10,000,000
Prepayment of debt					40,000,000
AC 4% PIK Note [Member] | Principal Amount Due on November 30, 2018 [Member]
Long-term debt [Abstract]
Face value of debt					20,000,000			20,000,000
Prepayment of debt					30,000,000
AC 4% PIK Note [Member] | Principal Amount Due on November 30, 2019 [Member]
Long-term debt [Abstract]
Face value of debt					20,000,000			20,000,000
Prepayment of debt					30,000,000
AC 4% PIK Note [Member] | Principal Amount Due on November 30, 2020 [Member]
Long-term debt [Abstract]
Face value of debt					50,000,000			50,000,000
Loan from GGCP [Member]
Long-term debt [Abstract]
Carrying value					0		0	0	0		35,000,000
Fair value					$ 0		0	$ 0	0		35,000,000
Debt instrument, term					1 year
Face value of debt											35,000,000
Debt instrument, maturity date								Dec. 28, 2016
Principal amount outstanding					$ 0		0	$ 0	0		35,000,000
Repayment of debt	$ 15,000,000					$ 20,000,000
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					$ 24,115,000		99,447,000	24,115,000	99,447,000		24,097,000
Fair value					$ 25,073,000		$ 106,625,000	$ 25,073,000	$ 106,625,000		$ 24,437,000
Debt instrument, interest rate			5.875%		5.875%		5.875%	5.875%	5.875%		5.875%
Debt instrument, term								10 years
Face value of debt		$ 100,000,000	$ 100,000,000
Debt instrument, maturity date								Jun. 1, 2021
Debt issuance costs					$ 110,000		$ 553,000	$ 110,000	$ 553,000		$ 128,000
Debt redemption price		101.00%	101.00%
Debt instrument, repurchased face amount		$ 75,800,000
Principal amount outstanding					24,115,000		99,447,000	24,115,000	99,447,000		24,097,000
0% Subordinated Debentures [Member]
Long-term debt [Abstract]
Carrying value					0		6,750,000	0	6,750,000		0
Fair value					$ 0		$ 6,800,000	$ 0	$ 6,800,000		0
Debt instrument, interest rate				0.00%	0.00%			0.00%
Debt instrument, term								5 years
Face value of debt				$ 86,400,000
Effective interest rate				7.45%
Debt instrument, maturity date								Dec. 31, 2015
Debt redemption price				100.00%
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							16		62,242
Face value of repurchased debentures							$ 1,600		$ 6,200,000
Loss on extinguishment of debt							(1,000)		(310,000)
Principal amount outstanding					$ 0		$ 6,750,000	$ 0	$ 6,750,000		$ 0
Maximum amount of debt and equity to be issued under shelf registration													$ 500,000,000
Amount available for debt and equity issuance under shelf registration					$ 500,000,000			$ 500,000,000

Stockholders' Equity, Dividends

Stockholders' Equity, Dividends (Details) - $ / shares shares in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Stockholders' Equity [Abstract]
Shares outstanding (in shares)	29.5			25.5			29.5	25.5	29.8
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 0.02			$ 0.07			$ 0.06	$ 0.21
Quarterly Dividend [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)							$ 0.06	$ 0.21
Quarterly Dividend Declared in Q1 2016 [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)			$ 0.02
Dividend payment date							Mar. 29, 2016
Dividend record date							Mar. 15, 2016
Quarterly Dividend Declared in Q2 2016 [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)		$ 0.02
Dividend payment date							Jun. 28, 2016
Dividend record date							Jun. 14, 2016
Quarterly Dividend Declared in Q3 2016 [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)	$ 0.02
Dividend payment date							Sep. 27, 2016
Dividend record date							Sep. 13, 2016
Quarterly Dividend Declared in Q1 2015 [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)						$ 0.07
Dividend payment date							Mar. 31, 2015
Dividend record date							Mar. 17, 2015
Quarterly Dividend Declared in Q2 2015 [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)					$ 0.07
Dividend payment date							Jun. 30, 2015
Dividend record date							Jun. 16, 2015
Quarterly Dividend Declared in Q3 2015 [Member]
Dividends Payable [Line Items]
Dividends declared (in dollars per share)				$ 0.07
Dividend payment date							Sep. 29, 2015
Dividend record date							Sep. 15, 2015

Stockholders' Equity, Voting Ri

Stockholders' Equity, Voting Rights, Stock Award and Incentive Plan (Details)	3 Months Ended							9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Sep. 30, 2016USD ($)VoteperSharePlan$ / sharesshares	Sep. 30, 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			$ 1,037,000	$ 4,945,000	$ 1,644,000	$ 1,640,000	$ 1,639,000	$ 3,258,000	$ 4,923,000	$ 9,868,000
2,016	$ 3,950,000							3,950,000
2,017	2,492,000							2,492,000
2,018	1,685,000							1,685,000
2,019	1,348,000							1,348,000
2,020	737,000							737,000
2,021	497,000							497,000
2,022	300,000							300,000
2,023	127,000							127,000
2,024	19,000							19,000
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Compensation cost related to non-vested options not yet recognized	$ 7,900,000							$ 7,900,000
Stock options exercised (in shares) | shares	0				26,000			0	26,000
Proceeds from exercise of stock options					$ 1,167,000				$ 1,167,000
Tax benefit from exercise of stock options					$ 102,000				$ 102,000
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	427,290			553,100	688,550			427,290	688,550	553,100
Average weighted grant price (in dollars per share) | $ / shares	$ 65.72			$ 64.02	$ 67.34			$ 65.72	$ 67.34	$ 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	$ 685,000							$ 685,000
2,018	464,000							464,000
2,019	365,000							365,000
2,020	219,000							219,000
2,021	145,000							145,000
2,022	93,000							93,000
2,023	48,000							48,000
2,024	7,000							7,000
Q2 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Actual stock based compensation expense		$ 1,036,000
2,017	685,000							685,000
2,018	453,000							453,000
2,019	365,000							365,000
2,020	204,000							204,000
2,021	145,000							145,000
2,022	93,000							93,000
2,023	48,000							48,000
2,024	7,000							7,000
Q3 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,016	1,186,000							1,186,000
2,017	602,000							602,000
2,018	402,000							402,000
2,019	323,000							323,000
2,020	169,000							169,000
2,021	114,000							114,000
2,022	66,000							66,000
2,023	24,000							24,000
2,024	5,000							5,000
Q4 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,016	691,000							691,000
2,017	520,000							520,000
2,018	366,000							366,000
2,019	295,000							295,000
2,020	145,000							145,000
2,021	93,000							93,000
2,022	48,000							48,000
2,023	7,000							7,000
2,024	$ 0							$ 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							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		9 Months Ended		213 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016
Stock Repurchase Program [Abstract]
Shares repurchased (in shares)	223,811	172,007	266,846	321,488	9,819,499
Average price per share of repurchased shares (in dollars per share)	$ 31.50	$ 61.11	$ 31.41	$ 66.96	$ 44.44
Share available under program to repurchase (in shares)	315,309		315,309		315,309

Identifiable Intangible Assets

Identifiable Intangible Assets (Details) - Investment Advisory Contract [Member] - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 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 ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Other income (expense) [Abstract]
Income from discontinued operations, net of taxes	$ 0	$ (7,482,000)	$ 0	$ (5,528,000)
Assets and Liabilities of Discontinued Operations [Abstract]
Total assets of discontinued operations	0	706,523,000	0	706,523,000	$ 0
Total liabilities of discontinued operations	$ 0	66,614,000	0	66,614,000	$ 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		0		1,500,000
Revenues [Abstract]
Investment advisory and incentive fees		2,560,000		6,954,000
Distribution fees and other income		41,000		276,000
Institutional research services		2,446,000		7,278,000
Total revenues		5,047,000		14,508,000
Expenses [Abstract]
Compensation		5,079,000		16,555,000
Stock based compensation		630,000		1,895,000
Management fee		(1,374,000)		(1,025,000)
Distribution costs		(19,000)		(82,000)
Other operating expenses		1,811,000		6,922,000
Total expenses		6,127,000		24,265,000
Operating loss		(1,080,000)		(9,757,000)
Other income (expense) [Abstract]
Net gain from investments		(11,539,000)		(834,000)
Interest and dividend income		551,000		2,303,000
Interest expense		(322,000)		(984,000)
Total other income (expense), net		(11,310,000)		485,000
Income from discontinued operations before income taxes		(12,390,000)		(9,272,000)
Income tax provision		(4,390,000)		(3,155,000)
Income from discontinued operations, net of taxes		(8,000,000)		(6,117,000)
Net loss attributable to noncontrolling interests		(518,000)		(589,000)
Net income attributable to GAMCO Investors, Inc.'s discontinued operations, net of taxes		(7,482,000)		(5,528,000)
Assets and Liabilities of Discontinued Operations [Abstract]
Cash and cash equivalents		363,055,000		363,055,000
Investments in securities		92,822,000		92,822,000
Investments in sponsored registered investment companies		115,046,000		115,046,000
Investments in partnerships		101,025,000		101,025,000
Receivable from brokers		51,761,000		51,761,000
Investment advisory fees receivable		1,991,000		1,991,000
Receivable from affiliates		(27,957,000)		(27,957,000)
Income tax receivable		0		0
Other assets		8,780,000		8,780,000
Total assets of discontinued operations		706,523,000		706,523,000
Payable to brokers		48,541,000		48,541,000
Income taxes payable and deferred tax liabilities		4,566,000		4,566,000
Compensation payable		5,047,000		5,047,000
Securities sold, not yet purchased		5,577,000		5,577,000
Payable to affiliates		(153,000)		(153,000)
Mandatorily redeemable noncontrolling interests		1,257,000		1,257,000
Accrued expenses and other liabilities		1,779,000		1,779,000
Total liabilities of discontinued operations		66,614,000		66,614,000
Redeemable noncontrolling interests from discontinued operations		6,018,000		6,018,000
Noncontrolling interests from discontinued operations		2,635,000		2,635,000
Net assets of discontinued operations		$ 631,256,000		$ 631,256,000

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Nov. 04, 2016	Nov. 04, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016
Subsequent Event [Line Items]
Average price per share of repurchased shares (in dollars per share)			$ 31.50	$ 61.11	$ 31.41	$ 66.96	$ 44.44
Dividends declared (in dollars per share)			$ 0.02	$ 0.07	0.06	0.21
Quarterly Dividend [Member]
Subsequent Event [Line Items]
Dividends declared (in dollars per share)					$ 0.06	$ 0.21
Subsequent Event [Member]
Subsequent Event [Line Items]
Stock repurchased (in shares)		60,237
Average price per share of repurchased shares (in dollars per share)		$ 29.06
Subsequent Event [Member] | Quarterly Dividend Declared in Q4 2016 [Member]
Subsequent Event [Line Items]
Dividends declared (in dollars per share)	$ 0.02
Dividends declared date	Nov. 4, 2016
Dividends payable date	Dec. 27, 2016
Dividends record date	Dec. 13, 2016