Artisan Partners Asset Management (APAM) 10-Q 2 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Sep. 30, 2015	Oct. 29, 2015
Document Information [Line Items]
Entity Registrant Name	Artisan Partners Asset Management Inc.
Entity Central Index Key	1,517,302
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		39,411,178
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		18,327,222
Class C Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		15,670,672

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 217,671	$ 182,284
Accounts receivable	67,568	69,361
Investment securities	9,839	6,712
Property and equipment, net	15,595	16,594
Deferred tax assets	687,060	562,396
Prepaid expenses and other assets	13,096	12,105
Total assets	1,010,829	849,452
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable, accrued expenses, and other	27,957	39,826
Accrued incentive compensation	75,823	12,973
Borrowings	200,000	200,000
Amounts payable under tax receivable agreements	588,746	489,154
Total liabilities	$ 892,526	$ 741,953
Commitments and Contingencies
Additional paid-in capital	$ 111,353	$ 93,524
Retained earnings	10,732	16,417
Accumulated other comprehensive income (loss)	(368)	206
Total stockholders’ equity	122,451	110,876
Noncontrolling interest - Artisan Partners Holdings	(4,148)	(3,377)
Total equity	118,303	107,499
Total liabilities and equity	1,010,829	849,452
Class A Common Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Common stock	394	342
Class B Common Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Common stock	183	215
Class C Common Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Common stock	$ 157	$ 172

Unaudited Consolidated Stateme3

Unaudited Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Common stock, shares outstanding	73,409,072	72,927,543
Class A Common Stock
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares outstanding	39,411,178	34,238,131
Class B Common Stock
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares outstanding	18,327,222	21,463,033
Class C Common Stock
Common stock, par value per share	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares outstanding	15,670,672	17,226,379

Unaudited Consolidated Stateme4

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Management Fees	$ 198,233	$ 212,225	$ 611,888	$ 622,350
Performance fees	80	181	1,573	335
Total revenues	198,313	212,406	613,461	622,685
Compensation and benefits
Salaries, incentive compensation and benefits	91,159	90,743	283,294	261,893
Pre-offering related compensation - share-based awards	10,532	12,431	31,596	52,234
Total compensation and benefits	101,691	103,174	314,890	314,127
Distribution and marketing	10,612	13,281	34,010	36,348
Occupancy	3,113	2,811	9,079	8,265
Communication and technology	6,339	5,735	17,993	15,694
General and administrative	6,003	6,389	20,792	19,258
Total operating expenses	127,758	131,390	396,764	393,692
Total operating income	70,555	81,016	216,697	228,993
Non-operating income (loss)
Interest expense	(2,971)	(2,905)	(8,828)	(8,690)
Net Investment Income	8	405	424	405
Net gain (loss) of Launch Equity	0	(557)	0	(2,039)
Net gain (loss) on the tax receivable agreements	(5,820)	284	(12,247)	(4,187)
Other non-operating income (expense)	6	217	15	(54)
Total non-operating income (loss)	(8,777)	(2,556)	(20,636)	(14,565)
Income before income taxes	61,778	78,460	196,061	214,428
Provision for income taxes	11,630	15,335	33,209	35,193
Net income before noncontrolling interests	50,148	63,125	162,852	179,235
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings	31,674	43,243	101,128	132,939
Less: Net income (loss) attributable to noncontrolling interests - Launch Equity	0	(557)	0	(2,039)
Net income attributable to Artisan Partners Asset Management Inc.	$ 18,474	$ 20,439	$ 61,724	$ 48,335
Earnings (loss) per share
Basic and diluted earnings (loss) per share	$ 0.44	$ 0.57	$ 1.38	$ (1.02)
Weighted average number of common shares outstanding
Basic and diluted weighted average number of common shares outstanding	36,430,820	30,370,892	35,032,841	26,177,724
Dividends declared per Class A common share	$ 0.60	$ 0.55	$ 2.75	$ 3.28

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income before noncontrolling interests	$ 50,148	$ 63,125	$ 162,852	$ 179,235
Unrealized gain (loss) on investment securities, net of tax of ($305), ($138), ($236) and $18, respectively	(1,227)	(423)	(664)	(117)
Less: reclassification adjustment for gain (loss) included in net income	8	405	424	405
Net unrealized gain (loss) on investment securities	(1,235)	(828)	(1,088)	(522)
Unrealized gain (loss) on investment securities:
Foreign currency translation gain (loss)	(402)	(458)	(290)	(190)
Total other comprehensive income (loss)	(1,637)	(1,286)	(1,378)	(712)
Comprehensive income	48,511	61,839	161,474	178,523
Comprehensive income attributable to noncontrolling interests - Artisan Partners Holdings	30,773	42,401	100,325	132,245
Comprehensive income (loss) attributable to noncontrolling interests - Launch Equity	0	(557)	0	(2,039)
Comprehensive income attributable to Artisan Partners Asset Management Inc.	$ 17,738	$ 19,995	$ 61,149	$ 48,317

Unaudited Consolidated Stateme6

Unaudited Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Securities Arising During Period, Tax	$ (305)	$ (138)	$ (236)	$ 18

Unaudited Consolidated Stateme7

Unaudited Consolidated Statements of Changes in Shareholders Equity - USD ($) $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Common StockClass C Common Stock	Preferred Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Noncontrolling Interest	Noncontrolling InterestLaunch Equity	Deferred Tax Assets
Balance at beginning of period at Dec. 31, 2013	$ 132,311	$ 198	$ 253	$ 252	$ 34,909	$ 6,388	$ 1,401	$ 378	$ 38,060	$ 50,472
Net income (loss)	179,235						48,335		132,939	(2,039)
Other comprehensive income - foreign currency translation	(190)							(105)	(85)
Other comprehensive income - available for sale investments, net of tax	(407)							(171)	(236)
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	0					(12,323)		258	11,950		$ (115)
Capital contribution	2,980									2,980
Amortization of equity-based compensation	68,108					26,716			41,392
Deferred Tax Assets Net Of Amounts Payable Under Tax Receivable Agreements	61,194					61,194
Issuance of Class A Common Stock, Net of Issuance Costs	552,289	125				552,164
Employee net share settlement	(302)
Exchange of subsidiary equity	0	18	0	(32)	(13,257)	23,289	0	0	(10,018)	0
Purchase of equity and subsidiary equity	(554,430)	0	(38)	(47)	(21,652)	(533,340)	0		647
Distributions	(213,555)								(213,555)
Dividends	(81,049)					(45,191)	(35,858)
Balance at end of period at Sep. 30, 2014	146,371	341	215	173	$ 0	78,897	13,878	360	1,094	$ 51,413
Balance at beginning of period at Dec. 31, 2014	107,499	342	215	172		93,524	16,417	206	(3,377)
Net income (loss)	162,852						61,724		101,128
Other comprehensive income - foreign currency translation	(290)							(144)	(146)
Other comprehensive income - available for sale investments, net of tax	(1,051)							(459)	(592)
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	0					(6,105)		29	6,039		$ (37)
Amortization of equity-based compensation	59,811					31,504			28,307
Deferred Tax Assets Net Of Amounts Payable Under Tax Receivable Agreements	26,158					26,158
Issuance of Class A Common Stock, Net of Issuance Costs	176,012	38	0	0		175,974
Forfeitures	0	0	(4)	3		1	0	0	0
Issuance of restricted stock awards		6	0	0		(6)
Employee net share settlement	(669)	0	0	0		(358)	0	0	(311)
Exchange of subsidiary equity		8	(4)	(4)
Purchase of equity and subsidiary equity	(176,558)	0	(24)	(14)		(176,520)	0		0
Distributions	(135,174)								(135,174)
Dividends	(100,250)					(32,819)	(67,409)		(22)
Balance at end of period at Sep. 30, 2015	$ 118,303	$ 394	$ 183	$ 157		$ 111,353	$ 10,732	$ (368)	$ (4,148)

Unaudited Consolidated Stateme8

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income before noncontrolling interests	$ 162,852	$ 179,235
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,177	2,293
Deferred income taxes	8,131	10,863
Reinvested dividends	0	(213)
Capital gains on the sale of investment securities	(424)	(405)
Net loss on the tax receivable agreements	12,247	4,187
(Gains) losses of Launch Equity, net	0	2,039
Proceeds from sale of investments by Launch Equity	0	93,146
Purchase of investments by Launch Equity	0	(77,598)
Loss on disposal of property and equipment	26	349
Amortization of debt issuance costs	336	336
Share-based Compensation	59,811	68,108
Excess tax benefit on share based awards	(984)	(901)
Change in assets and liabilities resulting in an increase (decrease) in cash:
Net change in operating assets and liabilities of Launch Equity	0	(18,528)
Accounts receivable	1,793	(3,436)
Prepaid expenses and other assets	(1,811)	(1,626)
Accounts payable and accrued expenses	58,580	73,304
Class B liability awards	(5,008)	(5,054)
Deferred lease obligations	(97)	16
Net cash provided by operating activities	298,629	326,115
Cash flows from investing activities
Acquisition of property and equipment	(1,668)	(3,767)
Leasehold improvements	(1,963)	(4,095)
Proceeds from Sale of Property, Plant, and Equipment	0	4
Proceeds from the sale of investments securities	2,724	6,156
Purchase of Investment Securities	(6,750)	(10,021)
Change in restricted cash	36	260
Net cash used in investing activities	(7,621)	(11,463)
Cash flows from financing activities
Partnership distributions	(135,174)	(213,555)
Dividends Paid	(100,250)	(81,049)
Change in other liabilities	(45)	(49)
Payments of amounts owed under tax receivable agreements	(20,040)	(4,645)
Net proceeds from issuance of common stock	176,558	554,129
Payment of costs directly associated with the issuance of Class A common stock	(427)	(2,797)
Purchase equity and subsidiary equity	(176,558)	(554,129)
Taxes paid related to employee net share settlement	(669)	(302)
Capital invested into Launch Equity	0	2,980
Excess tax benefit on share based awards	984	901
Net cash used in financing activities	(255,621)	(298,516)
Net increase (decrease) in cash and cash equivalents	35,387	16,136
Cash and cash equivalents
Beginning of period	182,284	211,839
End of period	217,671	227,975
Noncash activity:
Establishment of deferred tax assets	132,559	386,324
Establishment of amounts payable under tax receivable agreements	$ 107,385	$ 326,048

Nature of Business and Organiza

Nature of Business and Organization	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and nature of business	Note 1. Nature of Business and Organization Nature of Business Artisan Partners Asset Management, Inc. (“APAM” or “Artisan”) is an investment management firm focused on providing high-value added, active investment strategies to sophisticated clients globally. Artisan has seven autonomous investment teams that manage fifteen distinct investment strategies. During the second quarter of 2015, Artisan launched its fifteenth investment strategy, the Artisan Partners Developing World strategy, which is managed by the firm’s Developing World team. Strategies are offered through multiple investment vehicles to accommodate a broad range of client mandates. Artisan offers its investment management services primarily to institutions and through intermediaries that operate with institutional-like decision-making processes and have long-term investment horizons. Organization On March 12, 2013, APAM completed its initial public offering (the “IPO”). APAM was formed for the purpose of becoming the general partner of Artisan Partners Holdings LP (“Artisan Partners Holdings” or “Holdings”) in connection with the IPO. Holdings is a holding company for the investment management business conducted under the name “Artisan Partners”. The reorganization (“IPO Reorganization”) established the necessary corporate structure to complete the IPO while at the same time preserving the ability of the firm to conduct operations through Holdings and its subsidiaries. As the sole general partner, APAM controls the business and affairs of Holdings. As a result, APAM consolidates Holdings’ financial statements and records a noncontrolling interest for the equity interests in Holdings held by the limited partners of Holdings. At September 30, 2015 , APAM held approximately 54% of the total equity ownership interests in Holdings. Artisan Partners Asset Management has been allocated a part of Artisan Partners Holdings’ net income since March 12, 2013, when it became Holdings’ general partner. APAM and its subsidiaries are hereafter referred to collectively as “Artisan” or the “Company”. 2015 Follow-On Offering On March 9, 2015, APAM completed a registered offering of 3,831,550 shares of Class A common stock (the “2015 Follow-On Offering”) and utilized all of the proceeds to purchase an aggregate of 3,831,550 common units of Artisan Partners Holdings at a price per unit of $46.08 . The offering and subsequent purchase of units had the following impact on the consolidated financial statements: • APAM received 3,831,550 GP units of Holdings, which increased APAM’s equity ownership interest in Holdings. See Note 6, “Noncontrolling interest - Holdings” for the financial statement impact of changes in ownership. • APAM’s purchase of common units of Holdings with the proceeds resulted in an increase to deferred tax assets of approximately $105.1 million and an increase in amounts payable under the tax receivable agreements of approximately $89.4 million . • The shares of Class B and Class C common stock associated with the common units purchased were immediately canceled upon completion of the offering. Holdings Unit Exchanges During the nine months ended September 30, 2015 , certain limited partners of Artisan Partners Holdings exchanged common units (along with a corresponding number of shares of Class B or C common stock of APAM) for shares of Class A common stock (the “Holdings Common Unit Exchanges”). The following common units were exchanged for APAM Class A common stock during the nine months ended September 30, 2015 : Total Common Units Exchanged Class A Common Units Class B Common Units Class E Common Units Common units exchanged on March 9, 2015 527,012 169,474 332,538 25,000 Common units exchanged on May 21, 2015 132,961 127,729 5,232 — Common units exchanged on August 20, 2015 145,265 127,730 17,535 — Total Units Exchanged 805,238 424,933 355,305 25,000 The Holdings Common Unit Exchanges increased APAM’s equity ownership interest in Holdings, and resulted in a combined increase to deferred tax assets of approximately $21.2 million and an increase in amounts payable under the tax receivable agreements of approximately $18.0 million . The corresponding shares of Class B and Class C common stock were immediately canceled upon exchange.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Policy Text Block [Abstract]
Summary of Significant Accounting Policies	Note 2. Summary of Significant Accounting Policies Basis of presentation The accompanying financial statements are unaudited. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of such consolidated financial statements have been included. Such interim results are not necessarily indicative of full year results. The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial reporting and accordingly they do not include all of the information and footnotes required in the annual consolidated financial statements and accompanying footnotes. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. As a result, the interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in APAM’s latest annual report on Form 10-K. The accompanying financial statements were prepared in accordance with U.S. GAAP and related rules and regulations of the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from these estimates or assumptions. Principles of consolidation Artisan’s policy is to consolidate all subsidiaries or other entities in which it has a controlling financial interest and variable interest entities (“VIEs”) of which Artisan is deemed to be the primary beneficiary. The primary beneficiary is deemed to be the entity that has the power to govern the financial and operating policies of the subsidiary so as to obtain benefits from its activities. The consolidated financial statements include the accounts of APAM, all subsidiaries or other entities in which APAM has a direct or indirect controlling financial interest and VIEs of which Artisan is deemed to be the primary beneficiary. All material intercompany balances have been eliminated in consolidation. The Company makes initial seed investments in sponsored investment portfolios at the portfolio’s formation. If the seed investment results in a controlling financial interest, APAM consolidates the investment, and the underlying individual securities are accounted for as trading securities. Seed investments in which the Company does not have a controlling financial interest are classified as available-for-sale investments. As of September 30, 2015 , APAM does not have a controlling financial interest in any of the funds in which it has made a seed investment. Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes existing accounting standards for revenue recognition and creates a single framework. In August 2015, the effective date of the ASU was deferred. The new guidance will now be effective on January 1, 2018 with early adoption permitted as of the original effective date of January 1, 2017. The Company is currently evaluating its transition method and the potential impact on its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The ASU will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new guidance will be effective for the year ending December 31, 2016. Early adoption is permitted. The Company does not expect the adoption of this ASU to have an impact on its consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . The ASU modifies existing consolidation guidance for determining whether certain legal entities should be consolidated. The ASU eliminates the deferral under ASU 2010-10, Consolidation - Amendments for Certain Investment Funds, and, as a result, the Company must apply the new guidance to all entities, including investment companies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause the decision makers to consolidate VIEs, in certain instances. The new guidance will be effective on January 1, 2016, and requires either a retrospective or a modified retrospective approach to adoption. Early adoption is permitted. The Company is currently evaluating its transition method and the potential impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the note liability, rather than presented as an asset. The new guidance will be effective on January 1, 2016, and requires a retrospective approach to adoption. At September 30, 2015 , the Company had approximately $0.7 million of debt issuance costs in prepaid expenses and other assets on its Condensed Consolidated Statements of Financial Condition that meet the criteria of this amendment. In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , which provides guidance on determining whether a cloud computing arrangement contains a software license that should be accounted for as internal-use software. The new guidance will be effective on January 1, 2016. Early adoption is permitted. The Company does not expect the adoption of this ASU to have an impact on its consolidated financial statements.

Investment Securities

Investment Securities	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Investment securities	Note 3. Investment Securities The disclosures below include details of Artisan’s investments. Cost Unrealized Unrealized Fair Value September 30, 2015 Mutual funds $ 10,069 $ 581 $ (811 ) $ 9,839 December 31, 2014 Mutual funds $ 5,618 $ 1,096 $ (2 ) $ 6,712 Artisan’s investments in mutual funds consist of investments in shares of Artisan Partners Funds, Inc. and Artisan Partners Global Funds plc and are considered to be available-for-sale securities. As a result, unrealized gains (losses) are recorded to other comprehensive income (loss). As of September 30, 2015 and December 31, 2014, the total fair value of investments in an unrealized loss position was $4.2 million and $38 thousand , respectively. The $811 thousand and $2 thousand unrealized losses on available-for-sale securities are considered temporary, based on the severity and duration of the unrealized losses. No impairment losses were recorded on these available-for-sale securities. During the nine months ended September 30, 2015 , Artisan made seed investments of $6.8 million , including a $5.0 million investment in the Artisan Developing World Fund. During the nine months ended September 30, 2015 , Artisan sold $2.7 million of its investments, resulting in realized gains of $0.4 million . During the nine months ended September 30, 2014, Artisan sold $6.2 million of its investments, resulting in a realized gain of $0.4 million .

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4. Fair Value Measurements The table below presents information about Artisan’s assets and liabilities that are measured at fair value and the valuation techniques Artisan utilized to determine such fair value. In accordance with ASC 820, fair value is defined as the price that Artisan would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. The following three-tier fair value hierarchy prioritizes the inputs used in measuring fair value: • Level 1 – Observable inputs such as quoted (unadjusted) market prices in active markets for identical securities. • Level 2 – Other significant observable inputs (including but not limited to quoted prices for similar instruments, interest rates, prepayment speeds, credit risk, etc.). • Level 3—Significant unobservable inputs (including Artisan’s own assumptions in determining fair value). The following provides the hierarchy of inputs used to derive fair value of Artisan’s assets and liabilities that are financial instruments as of September 30, 2015 and December 31, 2014 : Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 September 30, 2015 Assets Cash equivalents $ 109,004 $ 109,004 $ — $ — Mutual funds 9,839 9,839 — — December 31, 2014 Assets Cash equivalents $ 44,004 $ 44,004 $ — $ — Mutual funds 6,712 6,712 — — Fair values determined based on Level 1 inputs utilize quoted market prices for identical assets. Level 1 assets generally consist of money market funds, marketable open-end mutual funds or Undertakings for Collective Investment in Transferable Securities (“UCITS”). There were no Level 2 or Level 3 assets or liabilities recorded at fair value as of September 30, 2015 and December 31, 2014 . Artisan’s policy is to recognize transfers in and transfers out of the valuation levels as of the beginning of the reporting period. There were no transfers between Level 1, Level 2 or Level 3 securities during the nine months ended September 30, 2015 and 2014 .

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Borrowings	Note 5. Borrowings Artisan’s borrowings consist of the following as of September 30, 2015 and December 31, 2014 : Maturity Outstanding Balance Interest Rate Per Annum Revolving credit agreement August 2017 $ — NA Senior notes Series A August 2017 60,000 4.98 % Series B August 2019 50,000 5.32 % Series C August 2022 90,000 5.82 % Total borrowings $ 200,000 The fair value of borrowings was approximately $198.3 million as of September 30, 2015 . Fair value was determined based on future cash flows, discounted to present value using current market interest rates. The inputs are categorized as Level 2 in the fair value hierarchy, as defined in Note 4, “Fair Value Measurements” . Interest expense incurred on the unsecured notes and revolving credit agreement was $2.8 million and $8.3 million for the three and nine months ended September 30, 2015 and 2014 , respectively. As of September 30, 2015 , the aggregate maturities of debt obligations, based on their contractual terms, are as follows: 2015 $ — 2016 — 2017 60,000 2018 — 2019 50,000 Thereafter 90,000 $ 200,000

Noncontrolling Interest - Holdi

Noncontrolling Interest - Holdings	9 Months Ended
	Sep. 30, 2015
Noncontrolling Interest [Abstract]
Noncontrolling interest - Holdings	Note 6. Noncontrolling interest - Holdings Holdings is the predecessor of APAM for accounting purposes, and its consolidated financial statements are Artisan’s historical financial statements for periods prior to March 12, 2013, the date on which APAM became the general partner of Holdings. As of September 30, 2015 , APAM held approximately 54% of the economic interests in Holdings. Net income (loss) attributable to noncontrolling interests - Artisan Partners Holdings in the Unaudited Consolidated Statements of Operations represents the portion of earnings or loss attributable to the economic interests in Holdings held by the limited partners of Holdings. During the nine months ended September 30, 2015 , APAM’s equity ownership interest in Holdings increased from 47% to 54% , due to the following transactions: • The issuance of 562,950 Holdings GP units corresponding to 562,950 restricted shares of Class A common stock issued by APAM during the period. • The issuance of 3,831,550 Holdings GP units and cancellation of 3,831,550 Holdings common units, in connection with the 2015 Follow-On Offering. • The issuance of 805,238 Holdings GP units and cancellation of 805,238 Holdings common units, in connection with the Holdings Common Unit Exchanges. • The forfeiture of 54,730 Holdings common units as a result of the termination of employment of employee-partners. Since APAM continues to have a controlling interest in Holdings, changes in ownership of Holdings are accounted for as equity transactions. Additional paid-in capital and Noncontrolling interest - Artisan Partners Holdings in the Unaudited Condensed Consolidated Statements of Financial Condition are adjusted to reallocate Holdings’ historical equity to reflect the change in APAM’s ownership of Holdings. The reallocation of equity had the following impact on the Consolidated Statements of Financial Condition: Statement of Financial Condition For the Nine Months Ended September 30, 2015 2014 Additional paid-in capital $ (6,105 ) $ (12,323 ) Noncontrolling interest - Artisan Partners Holdings 6,039 11,950 Accumulated other comprehensive income 29 258 Deferred tax assets 37 115 Net balance sheet impact — — In addition to the reallocation of historical equity, the change in ownership resulted in an increase to deferred tax assets and additional paid in capital of $6.2 million for the nine months ended September 30, 2015 and $2.8 million for the nine months ended September 30, 2014 .

Variable and Voting Interest En

Variable and Voting Interest Entities	9 Months Ended
	Sep. 30, 2015
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Variable and Voting Interest Entities	Note 7. Variable and Voting Interest Entities Artisan Funds and Artisan Global Funds Artisan serves as the investment adviser for Artisan Partners Funds, Inc. (“Artisan Funds”), a family of mutual funds registered with the SEC under the Investment Company Act of 1940, and Artisan Partners Global Funds plc (“Artisan Global Funds”), a family of Ireland-based UCITS. Artisan Funds and Artisan Global Funds are corporate entities the business and affairs of which are managed by their respective boards of directors. The shareholders of the funds retain all voting rights, including the right to elect and reelect members of their respective boards of directors. As a result, each of these entities is a voting interest entity (“VOE”). While Artisan holds, in limited cases, direct investments in a fund (which are made on the same terms as are available to other investors and do not represent a majority voting interest in any entity), Artisan does not have a controlling financial interest or a majority voting interest and, as such, does not consolidate these entities. Artisan Partners Launch Equity LP Prior to December 2014, Artisan had an agreement to serve as the investment manager of Artisan Partners Launch Equity Fund LP (“Launch Equity”), which was a private investment partnership in which the investors were certain employees or former employees (or entities beneficially owned by such persons) of Artisan Partners Holdings. Artisan Partners Alternative Investments GP LLC (“Artisan Alternatives”), a wholly-owned subsidiary of Holdings, was the general partner of Launch Equity. In December 2014, Launch Equity was liquidated and the net assets were distributed as a return of capital to all limited partners of the fund, including Artisan Partners Alternative Investments GP LLC, which received proceeds of $1 thousand . The fair value of the consideration distributed was equal to the carrying amount of Launch Equity’s net assets on the date of liquidation. As a result, no gain or loss was recorded in connection with the transaction. Prior to the dissolution, Launch Equity was determined to be a variable interest entity (“VIE”) which required consolidation within Artisan’s consolidated financial statements. Artisan’s maximum exposure to investment loss from its involvement with Launch Equity was limited to its equity investment of $1 thousand while the potential benefit was limited to the management fee and incentive allocation receivable as investment adviser and general partner. Therefore, the gains or losses of Launch Equity have not had a significant impact on Artisan’s results of operations, liquidity or capital resources. Artisan had no right to the benefits from, nor did it bear the risks associated with, Launch Equity’s investments, beyond Artisan’s minimal direct investment in Launch Equity. The following tables reflect the impact of consolidating Launch Equity’s results into the Unaudited Consolidated Statement of Operations for the three and nine months ended September 30, 2014 . Condensed Consolidating Statements of Operations Three Months Ended September 30, 2014 Before Launch Equity Eliminations As Reported Total revenues $ 212,535 $ — $ (129 ) $ 212,406 Total operating expenses 131,519 — (129 ) 131,390 Operating income (loss) 81,016 — — 81,016 Non-operating income (loss) (1,999 ) — — (1,999 ) Net gain (loss) of Launch Equity — (557 ) — (557 ) Total non-operating income (loss) (1,999 ) (557 ) — (2,556 ) Income (loss) before income taxes 79,017 (557 ) — 78,460 Provision for income taxes 15,335 — — 15,335 Net income (loss) 63,682 (557 ) — 63,125 Less: Net income (loss) attributable to noncontrolling interests - Artisan Partners Holdings 43,243 — — 43,243 Less: Net income (loss) attributable to noncontrolling interests - Launch Equity — (557 ) — (557 ) Net income attributable to Artisan Partners Asset Management Inc. $ 20,439 $ — $ — $ 20,439 Condensed Consolidating Statements of Operations Nine Months Ended September 30, 2014 Before Launch Equity Eliminations As Reported Total revenues $ 623,073 $ — $ (388 ) $ 622,685 Total operating expenses 394,080 — (388 ) 393,692 Operating income (loss) 228,993 — — 228,993 Non-operating income (loss) (12,526 ) — — (12,526 ) Net gain (loss) of Launch Equity — (2,039 ) — (2,039 ) Total non-operating income (loss) (12,526 ) (2,039 ) — (14,565 ) Income (loss) before income taxes 216,467 (2,039 ) — 214,428 Provision for income taxes 35,193 — — 35,193 Net income (loss) 181,274 (2,039 ) — 179,235 Less: Net income (loss) attributable to noncontrolling interests - Artisan Partners Holdings 132,939 — — 132,939 Less: Net income (loss) attributable to noncontrolling interests - Launch Equity — (2,039 ) — (2,039 ) Net income attributable to Artisan Partners Asset Management Inc. $ 48,335 $ — $ — $ 48,335

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Shareholder's equity	Note 8. Stockholders’ Equity APAM - Stockholders’ Equity As of September 30, 2015 and December 31, 2014 , APAM had the following authorized and outstanding equity: Outstanding Authorized September 30, 2015 December 31, 2014 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 39,411,178 34,238,131 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 18,327,222 21,463,033 5 votes per share None Class C, par value $0.01 per share 400,000,000 15,670,672 17,226,379 1 vote per share None (1) The Company’s employees to whom Artisan has granted equity have entered into a stockholders agreement with respect to all shares of APAM common stock they have acquired from the Company and any shares they may acquire from the Company in the future, pursuant to which they granted an irrevocable voting proxy to a Stockholders Committee. As of September 30, 2015, Artisan’s employees held 2,782,128 restricted shares of Class A common stock and all 18,327,222 outstanding shares of Class B common stock, all of which are subject to the agreement. APAM is dependent on cash generated by Holdings to fund any dividends. Generally, Holdings will make distributions to all of its partners, including APAM, based on the proportionate ownership each holds in Holdings. APAM will fund dividends to its stockholders from its proportionate share of those distributions after provision for its taxes and other obligations. APAM declared and paid the following dividends per share during the three and nine months ended September 30, 2015 and 2014 : Type of Dividend Class of Stock For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Quarterly Common Class A $0.60 $0.55 $1.80 $1.65 Special Annual Common Class A $— $— $0.95 $1.63 Quarterly Convertible Preferred $— $— $— $3.81 APAM issued (canceled) the following shares during the nine months ended September 30, 2015 : Total Stock Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2014 72,927,543 34,238,131 21,463,033 17,226,379 2015 Follow-On Offering — 3,831,550 (2,415,253 ) (1,416,297 ) Holdings Common Unit Exchanges — 805,238 (355,305 ) (449,933 ) Restricted Share Award Grants 562,950 562,950 — — Restricted Share Award Net Share Settlement (14,276 ) (14,276 ) — — Employee/Partner Terminations (67,145 ) (12,415 ) (365,253 ) 310,523 Balance at September 30, 2015 73,409,072 39,411,178 18,327,222 15,670,672 (1) There were 122,990 and 20,612 restricted stock units outstanding at September 30, 2015 and December 31, 2014, respectively, which are not reflected in the table. Each Class A, Class B, Class D and Class E common unit of Holdings (together with the corresponding share of Class B or Class C common stock) is exchangeable for one share of Class A common stock. Class B and Class C common stock is immediately canceled upon sale or exchange. Upon termination of employment with Artisan, an employee-partner’s unvested Class B common units are forfeited. Generally, the employee-partner’s vested Class B common units are exchanged for Class E common units; the employee-partner’s shares of Class B common stock are canceled; and APAM issues the former employee-partner a number of shares of Class C common stock equal to the former employee-partner’s number of Class E common units. Class E common units are exchangeable for Class A common stock subject to the same restrictions and limitations on exchange applicable to the other common units of Holdings. Artisan Partners Holdings - Partners’ Equity Holdings makes distributions of its net income to the holders of its partnership units for income taxes as required under the terms of the partnership agreement and also makes additional distributions under the terms of the partnership agreement. The distributions are recorded in the financial statements on the declaration date, or on the payment date in lieu of a declaration date. Holdings’ partnership distributions for the three and nine months ended September 30, 2015 and 2014 , respectively, were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Holdings Partnership Distributions (1) $81,140 $81,632 $269,704 $329,704 Holdings Partnership Distributions to APAM $42,623 $35,263 $134,530 $116,149 (1) Including distributions to APAM The portion of these distributions made to all partners are recorded as a reduction to consolidated stockholders’ equity, with the exception of the portion of distributions made to APAM, which is eliminated upon consolidation.

Compensation and Benefits

Compensation and Benefits	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation and benefits	Note 9. Compensation and Benefits Total compensation and benefits consists of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Salaries, incentive compensation and benefits (1) $ 81,392 $ 83,834 $ 255,969 $ 246,493 Restricted share-based award compensation expense 9,767 6,909 27,325 15,400 Total salaries, incentive compensation and benefits 91,159 90,743 283,294 261,893 Pre-offering related compensation - share-based awards 10,532 12,431 31,596 52,234 Total compensation and benefits $ 101,691 $ 103,174 $ 314,890 $ 314,127 (1) Excluding restricted share-based award compensation expense Incentive compensation Cash incentive compensation paid to members of Artisan’s portfolio management teams and members of its distribution teams is generally based on formulas that are tied directly to revenues. These payments are made in the quarter following the quarter in which the incentive was earned with the exception of fourth quarter payments which are paid in the fourth quarter of the year. Cash incentive compensation paid to most other employees is discretionary and subjectively determined based on individual performance and Artisan’s overall results during the applicable year and has historically been paid in the fourth quarter of the year. The cash incentive compensation earned by the named executive officers for the year ended December 31, 2014, was paid in the three months ended March 31, 2015. Restricted share-based awards Artisan has registered 14,000,000 shares of Class A common stock for issuance under the 2013 Omnibus Incentive Compensation Plan (the “Plan”). Pursuant to the Plan, APAM has issued a combination of restricted stock awards and restricted stock units (collectively referred to as “restricted share-based awards”) of Class A common stock to employees. The restricted share-based awards generally vest on a pro rata basis over five years. Certain share-based awards will vest upon a combination of both (1) pro-rata annual time vesting and (2) qualifying retirement (as defined in the award agreements). Unvested awards are subject to forfeiture upon termination of employment. Grantees receiving the awards are entitled to dividends on unvested and vested shares and units. As of September 30, 2015 , 10,336,935 shares of Class A common stock were reserved and available for issuance under the Plan. During the nine months ended September 30, 2015 , Artisan issued 562,950 restricted stock awards and 80,000 restricted stock units of Class A common stock to employees of the Company. Total compensation expense associated with the 2015 grants is expected to be approximately $30.5 million . Compensation expense related to the restricted share-based awards is recognized based on the estimated grant date fair value, for only those awards expected to vest, on a straight-line basis over the requisite service period of the award. The Company estimated the number of awards expected to vest based, in part, on historical forfeiture rates and also based on management’s expectations of employee turnover. Forfeitures are estimated at the time of grant and revised in subsequent periods, if necessary, based on actual forfeiture activity. The following table summarizes the restricted share-based award activity for the nine months ended September 30, 2015 : Weighted-Average Grant Date Fair Value Number of Awards Unvested at January 1, 2015 $ 52.59 2,700,634 Granted $ 48.17 642,950 Forfeited $ 52.71 (12,415 ) Vested $ 52.69 (469,041 ) Unvested at September 30, 2015 $ 51.58 2,862,128 Compensation expense recognized related to awards was $9.7 million and $6.9 million for the three months ended September 30, 2015 and 2014, respectively, and $27.3 million and $15.4 million for the nine months ended September 30, 2015 and 2014 , respectively. The unrecognized compensation expense for the unvested awards as of September 30, 2015 was $129.6 million with a weighted average recognition period of 3.7 years remaining. During the nine months ended September 30, 2015 , the Company withheld a total of 14,276 restricted shares as a result of net share settlements to satisfy employee tax withholding obligations. The Company paid $0.7 million in employee tax withholding obligations related to employee share transactions. These net share settlements had the effect of shares repurchased and retired by the Company, as they reduced the number of shares outstanding. Pre-offering related compensation - share-based awards Historical Class B share-based awards Holdings historically granted Class B share-based awards to certain employees. These awards vested over a period of five years. Prior to the IPO, all vested Class B awards were subject to mandatory redemption on termination of employment for any reason and were reflected as liabilities measured at fair value; unvested Class B awards were forfeited on termination of employment. The vested Class B liability awards of a terminated employee were historically redeemed in cash in annual installments, generally over the five years following termination of employment. The change in value of Class B liability awards and distributions to Class B limited partners were treated as compensation expense. Historical redemption of Class B awards Holdings historically redeemed the Class B awards of partners whose employment was terminated. The redemption value of the awards was determined in accordance with the terms of the grant agreement pursuant to which the award was granted. The remaining redemption payments for Class B awards of partners whose services to Holdings terminated prior to the IPO were $9.3 million and $14.3 million as of September 30, 2015 and December 31, 2014 , respectively. Payments of $0.8 million and $5.0 million were made for the three and nine months ended September 30, 2015 and 2014 , respectively. Modification of Class B share-based awards As a part of the IPO Reorganization, the Class B grant agreements were amended to eliminate the cash redemption feature. The amendment was considered a modification under ASC 718 and the Class B awards have been classified as equity awards since such modification. Compensation expense is recorded for unvested Class B awards on a straight-line basis over the remaining vesting period. The following table summarizes the activity related to unvested Class B awards for the nine months ended September 30, 2015 : Weighted-Average Grant Date Fair Value Number of Class B Awards Unvested Class B awards at January 1, 2015 $ 30.00 4,045,016 Granted — — Forfeited $ 30.00 (54,730 ) Vested $ 30.00 (1,641,952 ) Unvested at September 30, 2015 $ 30.00 2,348,334 Compensation expense recognized related to the unvested Class B awards was $10.5 million and $12.4 million for the three months ended September 30, 2015 and 2014 , respectively, and $31.6 million and $52.2 million for the nine months ended September 30, 2015 and 2014 , respectively. The unrecognized compensation expense for the unvested Class B awards as of September 30, 2015 , was $54.0 million with a weighted average recognition period of 1.6 years remaining.

Income Taxes and Related Paymen

Income Taxes and Related Payments	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income taxes and related payments	Note 10. Income Taxes and Related Payments APAM is subject to U.S. federal and state income taxation on APAM’s allocable portion of the income of Holdings. APAM’s effective income tax rate was lower than the U.S. Federal statutory rate of 35% primarily due to a rate benefit attributable to the fact that approximately 50% of Holdings’ earnings are not subject to corporate level taxes. This favorable impact is partially offset by the impact of certain permanent items, primarily attributable to certain compensation related expenses, that are not deductible for tax purposes. Prior to the IPO Reorganization, none of Holdings’ earnings were subject to U.S. corporate-level taxes. Components of the provision for income taxes consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Current: Federal $ 9,797 $ 6,050 $ 21,911 $ 21,132 State and local 1,355 1,106 2,896 3,016 Foreign 108 32 271 182 Total 11,260 7,188 25,078 24,330 Deferred: Federal 350 12,025 14,979 14,971 State and local 20 (3,878 ) (6,848 ) (4,108 ) Total 370 8,147 8,131 10,863 Income tax expense $ 11,630 $ 15,335 $ 33,209 $ 35,193 In connection with the IPO, APAM entered into two tax receivable agreements (“TRAs”). Under the first TRA, APAM generally is required to pay to a private equity fund controlled by Hellman & Friedman LLC 85% of the applicable cash savings, if any, in U.S. federal, state and local income tax that APAM actually realizes (or is deemed to realize in certain circumstances) as a result of (i) the tax attributes of the preferred units APAM acquired in the merger of a wholly-owned subsidiary of the private equity fund into APAM in March 2013, (ii) net operating losses available as a result of the merger and (iii) tax benefits related to imputed interest. Under the second TRA, APAM generally is required to pay to current or former limited partners of Holdings 85% of the applicable cash savings, if any, in U.S. federal, state and local income tax that APAM actually realizes (or is deemed to realize in certain circumstances) as a result of (i) certain tax attributes of their partnership units sold to APAM or exchanged (for shares of Class A common stock or convertible preferred stock) and that are created as a result of the sales or exchanges and payments under the TRAs and (ii) tax benefits related to imputed interest. Under both agreements, APAM generally will retain the benefit of the remaining 15% of the applicable tax savings. For purposes of the TRAs, cash savings in tax are calculated by comparing APAM’s actual income tax liability to the amount it would have been required to pay had it not been able to utilize any of the tax benefits subject to the TRAs, unless certain assumptions apply. The TRAs will continue in effect until all such tax benefits have been utilized or expired, unless APAM exercises its right to terminate the agreements or payments under the agreements are accelerated in the event that APAM materially breaches any of its material obligations under the agreements. The actual increase in tax basis, as well as the amount and timing of any payments under these agreements, will vary depending upon a number of factors, including the timing of future exchanges by the holders of limited partnership units, the price of the Class A common stock at the time of future exchanges, whether such exchanges are taxable, the amount and timing of the taxable income APAM generates in the future and the tax rate then applicable and the portion of APAM’s payments under the TRAs constituting imputed interest. Payments under the TRAs, if any, will be made pro rata among all TRA counterparties entitled to payments on an annual basis to the extent APAM has sufficient taxable income to utilize the increased depreciation and amortization charges. Artisan expects to make payments under the TRAs, to the extent they are required, within 125 days after APAM’s federal income tax return is filed for each fiscal year. Interest on such payments will begin to accrue at a rate equal to one-year LIBOR plus 100 basis points from the due date (without extension) of such tax return. Amounts payable under tax receivable agreements is an estimate which is impacted by factors, including but not limited to, expected tax rates, projected taxable income, and projected ownership levels. During the nine months ended September 30, 2015 , a change in estimate of future tax benefits resulted in an increase to deferred tax assets of $14.7 million and an increase to amounts payable under tax receivable agreements of $12.2 million . During the nine months ended September 30, 2014, a change in estimate of future tax benefits resulted in an increase to deferred tax assets of $4.9 million and an increase to amounts payable under tax receivable agreements of $4.2 million . The changes in the estimates of amounts payable under tax receivable agreements are recorded in non-operating income in the Consolidated Statements of Operations. The 2015 Follow-On Offering and Holdings Common Unit Exchanges resulted in an increase to deferred tax assets and amounts payable under tax receivable agreements of $126.3 million and $107.4 million , respectively, for the nine months ended September 30, 2015 . During the three months ended September 30, 2015, payments of $20.2 million , including interest, were made under the TRAs. Net deferred tax assets comprise the following: As of September 30, 2015 As of December 31, 2014 Deferred tax assets: Amortizable basis (1) $ 668,414 $ 551,952 Other (2) 18,646 10,444 Total deferred tax assets 687,060 562,396 Less: valuation allowance (3) — — Net deferred tax assets $ 687,060 $ 562,396 (1) Represents the unamortized step-up of tax basis from the merger described above, the purchase of common and preferred units by APAM, and the exchange of common and preferred units for Class A common shares of APAM. (2) Represents the net deferred tax assets associated with the merger described above and other miscellaneous deferred tax assets. (3) Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required. Accounting standards establish a minimum threshold for recognizing, and a system for measuring, the benefits of income tax return positions in financial statements. There were no uncertain tax positions recorded as of September 30, 2015 and December 31, 2014 . In the normal course of business, Artisan is subject to examination by federal and certain state, local and foreign tax regulators. As of September 30, 2015 , U.S. federal income tax returns for the years 2012 through 2014 are open and therefore subject to examination. State and local tax returns are generally subject to audit from 2011 to 2014. Foreign tax returns are generally subject to audit from 2011 to 2014.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (loss)	Note 11. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss), net of tax, in the accompanying Condensed Consolidated Statements of Financial Condition represents the portion of accumulated other comprehensive income attributable to APAM, and consists of the following: As of September 30, 2015 As of December 31, 2014 Unrealized gain (loss) on investments $ (75 ) $ 326 Foreign currency translation (293 ) (120 ) Accumulated Other Comprehensive Income (Loss) $ (368 ) $ 206 Comprehensive income (loss) attributable to noncontrolling interests - Artisan Partners Holdings in the Consolidated Statements of Comprehensive Income (Loss) represents the portion of comprehensive income (loss) attributable to the economic interests in Holdings held by the limited partners of Holdings.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 12. Earnings (Loss) Per Share Basic earnings per share is computed by dividing income available to Class A common stockholders by the weighted average number of Class A common shares outstanding during the period. Unvested restricted share-based awards are excluded from the number of Class A common shares outstanding for the basic earnings per share calculation because the shares have not yet been earned by the employees. Income available to Class A common stockholders is computed by reducing net income attributable to APAM by dividends declared or paid to convertible preferred stockholders during the period and earnings (distributed and undistributed) allocated to participating securities, according to their respective rights to participate in those earnings. Class B and Class C common shares do not share in profits of APAM and therefore are not reflected in the calculations. The consideration Artisan paid to purchase shares of its convertible preferred stock in March 2014 exceeded the carrying amount of the shares of convertible preferred stock on Artisan’s consolidated balance sheet; the excess was subtracted from net income as a deemed dividend to arrive at income available to common stockholders in the earnings per share calculation. The purchase of subsidiary preferred equity in March 2014 resulted in a similar deemed dividend, which also reduced net income available to common stockholders. The computation of basic and diluted earnings per share under the two-class method for the three and nine months ended September 30, 2015 and 2014 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Basic and Diluted Earnings Per Share 2015 2014 2015 2014 Numerator: Net income attributable to APAM $ 18,474 $ 20,439 $ 61,724 $ 48,335 Less: Convertible preferred stock deemed dividends — — — 22,694 Less: Subsidiary preferred equity deemed dividends — — — 26,469 Less: Allocation to participating securities 2,574 3,246 13,480 25,933 Net income (loss) available to common stockholders $ 15,900 $ 17,193 $ 48,244 $ (26,761 ) Denominator: Weighted average shares outstanding 36,430,820 30,370,892 35,032,841 26,177,724 Earnings (loss) per share $ 0.44 $ 0.57 $ 1.38 $ (1.02 ) Diluted earnings per share is computed by increasing the denominator by the amount of additional Class A common shares that would have been outstanding if all potential Class A common shares had been issued. The numerator is also increased for the net income allocated to the potential Class A common shares. For periods with a net loss available to common stockholders, all potential common shares are considered anti-dilutive. The Holdings limited partnership units are anti-dilutive primarily due to the impact of public company expenses and unrecognized share-based compensation expense. Unvested restricted awards are anti-dilutive, primarily because the unvested shares are considered participating securities. The following table summarizes the weighted-average shares outstanding that are excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive: For the Three Months Ended September 30, For the Nine Months Ended September 30, Anti-Dilutive Weighted Average Shares Outstanding 2015 2014 2015 2014 Holdings limited partnership units 34,078,421 39,767,645 35,288,887 43,349,132 Convertible preferred stock — — — 474,938 Unvested restricted share-based awards 3,027,787 2,582,934 3,116,835 1,939,126 Total 37,106,208 42,350,579 38,405,722 45,763,196

Indemnifications

Indemnifications	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Indemnifications	Note 13. Indemnifications In the normal course of business, APAM enters into agreements that include indemnities in favor of third parties. Holdings has also agreed to indemnify APAM as its general partner, Artisan Investment Corporation (“AIC”) as its former general partner, the directors and officers of APAM, the directors and officers of AIC as its former general partner, the members of its former Advisory Committee, and its partners, directors, officers, employees and agents. Holdings’ subsidiaries may also have similar agreements to indemnify their respective general partner(s), directors, officers, directors and officers of their general partner(s), partners, members, employees, and agents. The Company’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against us that have not yet occurred. APAM maintains insurance policies that may provide coverage against certain claims under these indemnities.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related party transactions	Note 14. Related Party Transactions Artisan engages in transactions with its affiliates in the ordinary course of business. Affiliate transactions—Artisan Funds Artisan has an agreement to serve as the investment manager of Artisan Funds, with which certain of Artisan employees are affiliated. Under the terms of the agreement, which generally is reviewed and continued by the board of directors of Artisan Funds annually, a fee is paid to Artisan based on an annual percentage of the average daily net assets of each Artisan Fund ranging from 0.63% to 1.25% . Artisan generally collects revenues related to these services on the last business day of each month and records them in Management Fees in the Consolidated Statement of Operations. Artisan has contractually agreed to waive its management fees or reimburse for expenses incurred to the extent necessary to limit annualized ordinary operating expenses incurred by certain of the Artisan Funds to not more than a fixed percentage (ranging from 1.25% to 1.50% ) of the particular Fund’s average daily net assets. In addition, Artisan may voluntarily waive fees or reimburse any of the Artisan Funds for other expenses. The officers and a director of Artisan Funds who are affiliated with Artisan receive no compensation from the funds. Fees for managing the Funds and amounts waived or reimbursed by Artisan for fees and expenses (including management fees) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Investment management fees: Artisan Funds $ 130,842 $ 144,873 $ 404,013 $ 423,620 Fee waiver / expense reimbursement: Artisan Funds $ 317 $ 17 $ 368 $ 95 Affiliate transactions—Artisan Global Funds Artisan has agreements to serve as the investment manager and promoter of Artisan Global Funds, with which certain Artisan employees are affiliated. Under the terms of these agreements, a fee is paid based on an annual percentage of the average daily net assets of each fund ranging from 0.75% to 1.80% . Artisan reimburses each sub-fund of Artisan Global Funds to the extent that sub-fund’s expenses, not including Artisan’s fee, exceed certain levels, which range from 0.10% to 0.20% . In addition, Artisan may voluntarily waive fees or reimburse any of the Artisan Global Funds for other expenses. The directors of Artisan Global Funds who are affiliated with Artisan receive no compensation from the funds. Accounts receivable included $1.2 million and $1.3 million due from Artisan Global Funds as of September 30, 2015 and December 31, 2014 , respectively. Fees for managing Artisan Global Funds and amounts reimbursed to Artisan Global Funds by Artisan are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Investment management fees: Artisan Global Funds $ 3,807 $ 3,685 $ 11,376 $ 10,552 Fee waiver / expense reimbursement: Artisan Global Funds $ 102 $ 207 $ 346 $ 377 Affiliate transactions—Launch Equity Prior to the dissolution described in Note 7, Artisan had an agreement to serve as the investment manager of Launch Equity. Under the terms of Artisan’s agreement with Launch Equity, Artisan earned a quarterly fee based on the value of the closing capital account of each limited partner for the quarter, at the rate of 1.00% (annualized). At Artisan’s discretion, the fee was waived and certain expenses reimbursed to the extent they exceeded a certain level. Artisan waived 100% of the quarterly fee and reimbursed Launch Equity for all operating expenses, and Artisan also waived other expenses as well. Expense reimbursements totaled $40 thousand and $133 thousand for the three and nine months ended September 30, 2014 .

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent events	Note 15. Subsequent Events Distributions and dividends On October 21, 2015, the board of directors of APAM declared a distribution by Artisan Partners Holdings of $40.3 million to holders of Artisan Partners Holdings partnership units, including APAM. On the same date, the board declared a quarterly dividend of $0.60 per share of APAM’s Class A common stock. The APAM dividend is payable on November 30, 2015, to shareholders of record as of November 16, 2015.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Policy Text Block [Abstract]
Basis of presentation	Basis of presentation The accompanying financial statements are unaudited. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair statement of such consolidated financial statements have been included. Such interim results are not necessarily indicative of full year results. The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial reporting and accordingly they do not include all of the information and footnotes required in the annual consolidated financial statements and accompanying footnotes. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. As a result, the interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in APAM’s latest annual report on Form 10-K. The accompanying financial statements were prepared in accordance with U.S. GAAP and related rules and regulations of the SEC. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates or assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from these estimates or assumptions.
Principles of consolidation	Principles of consolidation Artisan’s policy is to consolidate all subsidiaries or other entities in which it has a controlling financial interest and variable interest entities (“VIEs”) of which Artisan is deemed to be the primary beneficiary. The primary beneficiary is deemed to be the entity that has the power to govern the financial and operating policies of the subsidiary so as to obtain benefits from its activities. The consolidated financial statements include the accounts of APAM, all subsidiaries or other entities in which APAM has a direct or indirect controlling financial interest and VIEs of which Artisan is deemed to be the primary beneficiary. All material intercompany balances have been eliminated in consolidation. The Company makes initial seed investments in sponsored investment portfolios at the portfolio’s formation. If the seed investment results in a controlling financial interest, APAM consolidates the investment, and the underlying individual securities are accounted for as trading securities. Seed investments in which the Company does not have a controlling financial interest are classified as available-for-sale investments. As of September 30, 2015 , APAM does not have a controlling financial interest in any of the funds in which it has made a seed investment.
Recent accounting pronouncements	Recent accounting pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) , which supersedes existing accounting standards for revenue recognition and creates a single framework. In August 2015, the effective date of the ASU was deferred. The new guidance will now be effective on January 1, 2018 with early adoption permitted as of the original effective date of January 1, 2017. The Company is currently evaluating its transition method and the potential impact on its consolidated financial statements. In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern. The ASU will explicitly require management to assess an entity’s ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new guidance will be effective for the year ending December 31, 2016. Early adoption is permitted. The Company does not expect the adoption of this ASU to have an impact on its consolidated financial statements. In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . The ASU modifies existing consolidation guidance for determining whether certain legal entities should be consolidated. The ASU eliminates the deferral under ASU 2010-10, Consolidation - Amendments for Certain Investment Funds, and, as a result, the Company must apply the new guidance to all entities, including investment companies. The presumption that a general partner controls a limited partnership has been eliminated. In addition, fees paid to decision makers that meet certain conditions no longer cause the decision makers to consolidate VIEs, in certain instances. The new guidance will be effective on January 1, 2016, and requires either a retrospective or a modified retrospective approach to adoption. Early adoption is permitted. The Company is currently evaluating its transition method and the potential impact on its consolidated financial statements. In April 2015, the FASB issued ASU 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs , which requires debt issuance costs to be presented in the balance sheet as a direct deduction from the note liability, rather than presented as an asset. The new guidance will be effective on January 1, 2016, and requires a retrospective approach to adoption. At September 30, 2015 , the Company had approximately $0.7 million of debt issuance costs in prepaid expenses and other assets on its Condensed Consolidated Statements of Financial Condition that meet the criteria of this amendment. In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement , which provides guidance on determining whether a cloud computing arrangement contains a software license that should be accounted for as internal-use software. The new guidance will be effective on January 1, 2016. Early adoption is permitted. The Company does not expect the adoption of this ASU to have an impact on its consolidated financial statements.

Nature of Business and Organi25

Nature of Business and Organization Organization and Nature (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Capital Units [Table Text Block]	Total Common Units Exchanged Class A Common Units Class B Common Units Class E Common Units Common units exchanged on March 9, 2015 527,012 169,474 332,538 25,000 Common units exchanged on May 21, 2015 132,961 127,729 5,232 — Common units exchanged on August 20, 2015 145,265 127,730 17,535 — Total Units Exchanged 805,238 424,933 355,305 25,000

Investment Securities (Tables)

Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of available-for-sale securities	The disclosures below include details of Artisan’s investments. Cost Unrealized Unrealized Fair Value September 30, 2015 Mutual funds $ 10,069 $ 581 $ (811 ) $ 9,839 December 31, 2014 Mutual funds $ 5,618 $ 1,096 $ (2 ) $ 6,712

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair value hierarchy of assets and liabilities	The following provides the hierarchy of inputs used to derive fair value of Artisan’s assets and liabilities that are financial instruments as of September 30, 2015 and December 31, 2014 : Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 September 30, 2015 Assets Cash equivalents $ 109,004 $ 109,004 $ — $ — Mutual funds 9,839 9,839 — — December 31, 2014 Assets Cash equivalents $ 44,004 $ 44,004 $ — $ — Mutual funds 6,712 6,712 — —

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of borrowings	Artisan’s borrowings consist of the following as of September 30, 2015 and December 31, 2014 : Maturity Outstanding Balance Interest Rate Per Annum Revolving credit agreement August 2017 $ — NA Senior notes Series A August 2017 60,000 4.98 % Series B August 2019 50,000 5.32 % Series C August 2022 90,000 5.82 % Total borrowings $ 200,000
Aggregate maturities of debt obligations	As of September 30, 2015 , the aggregate maturities of debt obligations, based on their contractual terms, are as follows: 2015 $ — 2016 — 2017 60,000 2018 — 2019 50,000 Thereafter 90,000 $ 200,000

Noncontrolling Interest - Hol29

Noncontrolling Interest - Holdings Changes in Ownership Impact on Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Noncontrolling Interest [Abstract]
Change in ownership	The reallocation of equity had the following impact on the Consolidated Statements of Financial Condition: Statement of Financial Condition For the Nine Months Ended September 30, 2015 2014 Additional paid-in capital $ (6,105 ) $ (12,323 ) Noncontrolling interest - Artisan Partners Holdings 6,039 11,950 Accumulated other comprehensive income 29 258 Deferred tax assets 37 115 Net balance sheet impact — —

Variable and Voting Interest 30

Variable and Voting Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2015
Variable Interest Entity, Not Primary Beneficiary, Disclosures [Abstract]
Condensed Consolidating Statements of Operations	The following tables reflect the impact of consolidating Launch Equity’s results into the Unaudited Consolidated Statement of Operations for the three and nine months ended September 30, 2014 . Condensed Consolidating Statements of Operations Three Months Ended September 30, 2014 Before Launch Equity Eliminations As Reported Total revenues $ 212,535 $ — $ (129 ) $ 212,406 Total operating expenses 131,519 — (129 ) 131,390 Operating income (loss) 81,016 — — 81,016 Non-operating income (loss) (1,999 ) — — (1,999 ) Net gain (loss) of Launch Equity — (557 ) — (557 ) Total non-operating income (loss) (1,999 ) (557 ) — (2,556 ) Income (loss) before income taxes 79,017 (557 ) — 78,460 Provision for income taxes 15,335 — — 15,335 Net income (loss) 63,682 (557 ) — 63,125 Less: Net income (loss) attributable to noncontrolling interests - Artisan Partners Holdings 43,243 — — 43,243 Less: Net income (loss) attributable to noncontrolling interests - Launch Equity — (557 ) — (557 ) Net income attributable to Artisan Partners Asset Management Inc. $ 20,439 $ — $ — $ 20,439 Condensed Consolidating Statements of Operations Nine Months Ended September 30, 2014 Before Launch Equity Eliminations As Reported Total revenues $ 623,073 $ — $ (388 ) $ 622,685 Total operating expenses 394,080 — (388 ) 393,692 Operating income (loss) 228,993 — — 228,993 Non-operating income (loss) (12,526 ) — — (12,526 ) Net gain (loss) of Launch Equity — (2,039 ) — (2,039 ) Total non-operating income (loss) (12,526 ) (2,039 ) — (14,565 ) Income (loss) before income taxes 216,467 (2,039 ) — 214,428 Provision for income taxes 35,193 — — 35,193 Net income (loss) 181,274 (2,039 ) — 179,235 Less: Net income (loss) attributable to noncontrolling interests - Artisan Partners Holdings 132,939 — — 132,939 Less: Net income (loss) attributable to noncontrolling interests - Launch Equity — (2,039 ) — (2,039 ) Net income attributable to Artisan Partners Asset Management Inc. $ 48,335 $ — $ — $ 48,335

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders' Equity Note [Abstract]
Authorized and outstanding equity	As of September 30, 2015 and December 31, 2014 , APAM had the following authorized and outstanding equity: Outstanding Authorized September 30, 2015 December 31, 2014 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 39,411,178 34,238,131 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 18,327,222 21,463,033 5 votes per share None Class C, par value $0.01 per share 400,000,000 15,670,672 17,226,379 1 vote per share None (1) The Company’s employees to whom Artisan has granted equity have entered into a stockholders agreement with respect to all shares of APAM common stock they have acquired from the Company and any shares they may acquire from the Company in the future, pursuant to which they granted an irrevocable voting proxy to a Stockholders Committee. As of September 30, 2015, Artisan’s employees held 2,782,128 restricted shares of Class A common stock and all 18,327,222 outstanding shares of Class B common stock, all of which are subject to the agreement.
Dividends Declared	APAM declared and paid the following dividends per share during the three and nine months ended September 30, 2015 and 2014 : Type of Dividend Class of Stock For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Quarterly Common Class A $0.60 $0.55 $1.80 $1.65 Special Annual Common Class A $— $— $0.95 $1.63 Quarterly Convertible Preferred $— $— $— $3.81
Issuance (Cancellation) of Shares Disclosure	Total Stock Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2014 72,927,543 34,238,131 21,463,033 17,226,379 2015 Follow-On Offering — 3,831,550 (2,415,253 ) (1,416,297 ) Holdings Common Unit Exchanges — 805,238 (355,305 ) (449,933 ) Restricted Share Award Grants 562,950 562,950 — — Restricted Share Award Net Share Settlement (14,276 ) (14,276 ) — — Employee/Partner Terminations (67,145 ) (12,415 ) (365,253 ) 310,523 Balance at September 30, 2015 73,409,072 39,411,178 18,327,222 15,670,672 (1) There were 122,990 and 20,612 restricted stock units outstanding at September 30, 2015 and December 31, 2014, respectively, which are not reflected in the table.
Distributions Made to Limited Partner, by Distribution	Holdings’ partnership distributions for the three and nine months ended September 30, 2015 and 2014 , respectively, were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Holdings Partnership Distributions (1) $81,140 $81,632 $269,704 $329,704 Holdings Partnership Distributions to APAM $42,623 $35,263 $134,530 $116,149 (1) Including distributions to APAM

Compensation and Benefits (Tabl

Compensation and Benefits (Tables)	9 Months Ended
	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Components of Compensation Expense	Total compensation and benefits consists of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Salaries, incentive compensation and benefits (1) $ 81,392 $ 83,834 $ 255,969 $ 246,493 Restricted share-based award compensation expense 9,767 6,909 27,325 15,400 Total salaries, incentive compensation and benefits 91,159 90,743 283,294 261,893 Pre-offering related compensation - share-based awards 10,532 12,431 31,596 52,234 Total compensation and benefits $ 101,691 $ 103,174 $ 314,890 $ 314,127 (1) Excluding restricted share-based award compensation expense
Restricted Share-Based Award Activity	The following table summarizes the restricted share-based award activity for the nine months ended September 30, 2015 : Weighted-Average Grant Date Fair Value Number of Awards Unvested at January 1, 2015 $ 52.59 2,700,634 Granted $ 48.17 642,950 Forfeited $ 52.71 (12,415 ) Vested $ 52.69 (469,041 ) Unvested at September 30, 2015 $ 51.58 2,862,128
Class B Award Activity	The following table summarizes the activity related to unvested Class B awards for the nine months ended September 30, 2015 : Weighted-Average Grant Date Fair Value Number of Class B Awards Unvested Class B awards at January 1, 2015 $ 30.00 4,045,016 Granted — — Forfeited $ 30.00 (54,730 ) Vested $ 30.00 (1,641,952 ) Unvested at September 30, 2015 $ 30.00 2,348,334

Income Taxes and Related Paym33

Income Taxes and Related Payments (Tables)	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Components of the provision for income taxes	Components of the provision for income taxes consist of the following: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Current: Federal $ 9,797 $ 6,050 $ 21,911 $ 21,132 State and local 1,355 1,106 2,896 3,016 Foreign 108 32 271 182 Total 11,260 7,188 25,078 24,330 Deferred: Federal 350 12,025 14,979 14,971 State and local 20 (3,878 ) (6,848 ) (4,108 ) Total 370 8,147 8,131 10,863 Income tax expense $ 11,630 $ 15,335 $ 33,209 $ 35,193
Components of deferred tax assets	Net deferred tax assets comprise the following: As of September 30, 2015 As of December 31, 2014 Deferred tax assets: Amortizable basis (1) $ 668,414 $ 551,952 Other (2) 18,646 10,444 Total deferred tax assets 687,060 562,396 Less: valuation allowance (3) — — Net deferred tax assets $ 687,060 $ 562,396 (1) Represents the unamortized step-up of tax basis from the merger described above, the purchase of common and preferred units by APAM, and the exchange of common and preferred units for Class A common shares of APAM. (2) Represents the net deferred tax assets associated with the merger described above and other miscellaneous deferred tax assets. (3) Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required.

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss), net of tax, in the accompanying Condensed Consolidated Statements of Financial Condition represents the portion of accumulated other comprehensive income attributable to APAM, and consists of the following: As of September 30, 2015 As of December 31, 2014 Unrealized gain (loss) on investments $ (75 ) $ 326 Foreign currency translation (293 ) (120 ) Accumulated Other Comprehensive Income (Loss) $ (368 ) $ 206

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method	The computation of basic and diluted earnings per share under the two-class method for the three and nine months ended September 30, 2015 and 2014 were as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Basic and Diluted Earnings Per Share 2015 2014 2015 2014 Numerator: Net income attributable to APAM $ 18,474 $ 20,439 $ 61,724 $ 48,335 Less: Convertible preferred stock deemed dividends — — — 22,694 Less: Subsidiary preferred equity deemed dividends — — — 26,469 Less: Allocation to participating securities 2,574 3,246 13,480 25,933 Net income (loss) available to common stockholders $ 15,900 $ 17,193 $ 48,244 $ (26,761 ) Denominator: Weighted average shares outstanding 36,430,820 30,370,892 35,032,841 26,177,724 Earnings (loss) per share $ 0.44 $ 0.57 $ 1.38 $ (1.02 )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the weighted-average shares outstanding that are excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive: For the Three Months Ended September 30, For the Nine Months Ended September 30, Anti-Dilutive Weighted Average Shares Outstanding 2015 2014 2015 2014 Holdings limited partnership units 34,078,421 39,767,645 35,288,887 43,349,132 Convertible preferred stock — — — 474,938 Unvested restricted share-based awards 3,027,787 2,582,934 3,116,835 1,939,126 Total 37,106,208 42,350,579 38,405,722 45,763,196

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2015
Artisan Funds
Related Party Transaction [Line Items]
Schedule of related party transactions	Fees for managing the Funds and amounts waived or reimbursed by Artisan for fees and expenses (including management fees) are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Investment management fees: Artisan Funds $ 130,842 $ 144,873 $ 404,013 $ 423,620 Fee waiver / expense reimbursement: Artisan Funds $ 317 $ 17 $ 368 $ 95
Artisan Global Funds
Related Party Transaction [Line Items]
Schedule of related party transactions	Fees for managing Artisan Global Funds and amounts reimbursed to Artisan Global Funds by Artisan are as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2015 2014 2015 2014 Investment management fees: Artisan Global Funds $ 3,807 $ 3,685 $ 11,376 $ 10,552 Fee waiver / expense reimbursement: Artisan Global Funds $ 102 $ 207 $ 346 $ 377

Nature of Business and Organi37

Nature of Business and Organization (Details) $ / shares in Units, $ in Thousands	Aug. 20, 2015shares	May. 21, 2015shares	Mar. 09, 2015USD ($)$ / sharesshares	Sep. 30, 2015USD ($)shares	Sep. 30, 2015USD ($)investment_teamsInvestment_strategiesshares	Sep. 30, 2014USD ($)	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of autonomous investment teams | investment_teams					7
Number of investment strategies | Investment_strategies					15
Class of Stock [Line Items]
Share Price | $ / shares			$ 46.08
Establishment of amounts payable under tax receivable agreements | $			$ 89,400	$ 107,400	$ 107,385	$ 326,048
APAM economic interest in Artisan Partners Holdings LP (as a percent)				54.00%	54.00%		47.00%
Establishment of deferred tax assets | $			$ 105,100	$ 126,300	$ 132,559	$ 386,324
Conversion of Stock, Shares Converted	145,265	132,961	527,012	805,238
Stock Repurchased and Retired During Period, Shares					67,145
Class A Common Stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues			3,831,550
Capital Units [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted					805,238
Stock Repurchased and Retired During Period, Shares			3,831,550
General Partnership Units [Member]
Class of Stock [Line Items]
Establishment of amounts payable under tax receivable agreements | $					$ 18,000
Establishment of deferred tax assets | $					$ 21,200
Stock Issued During Period, Shares, New Issues			3,831,550		805,238
Capital Unit, Class A [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	127,730	127,729	169,474	424,933
Capital Unit, Class B [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	17,535	5,232	332,538	355,305
Capital Units, Class E [Domain]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	0	0	25,000	25,000
Common Stock | Class A Common Stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues				805,238

Summary of Significant Accoun38

Summary of Significant Accounting Policies Other Information (Details) $ in Millions	Sep. 30, 2015USD ($)
Accounting Policies [Abstract]
Debt Issuance Cost	$ 0.7

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Cost	$ 10,069	$ 5,618
Unrealized Gains	581	1,096
Unrealized Losses	(811)	(2)
Fair Value	$ 9,839	$ 6,712

Investment Securities Other Inf

Investment Securities Other Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 4,200		$ 4,200		$ 38
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Portion Recognized in Earnings, Net, Qualitative Disclosures, Third Party Guarantees, Amount	0		0
Payments to Acquire Investments			6,750	$ 10,021
Available-for-sale Securities, Gross Realized Gain (Loss)	$ 8	$ 405	424	405
Proceeds from sale of investments			2,700	$ 6,200
Developing World [Member]
Schedule of Available-for-sale Securities [Line Items]
Payments to Acquire Investments			$ 5,000

Fair Value Measurements - Fair

Fair Value Measurements - Fair value hierarchy of assets and liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 109,004	$ 44,004
Mutual funds	9,839	6,712
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	109,004	44,004
Mutual funds	9,839	6,712
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Mutual funds	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Mutual funds	$ 0	$ 0

Borrowings - Components of Borr

Borrowings - Components of Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total outstanding balance	$ 200,000	$ 200,000
Senior notes | Series A
Debt Instrument [Line Items]
Total outstanding balance	$ 60,000	$ 60,000
Interest rate per annum	4.98%	4.98%
Senior notes | Series B
Debt Instrument [Line Items]
Total outstanding balance	$ 50,000	$ 50,000
Interest rate per annum	5.32%	5.32%
Senior notes | Series C
Debt Instrument [Line Items]
Total outstanding balance	$ 90,000	$ 90,000
Interest rate per annum	5.82%	5.82%
Revolving credit agreement
Debt Instrument [Line Items]
Total outstanding balance	$ 0	$ 0

Borrowings - Aggregate Maturiti

Borrowings - Aggregate Maturities of Debt Obligations (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
2,015	$ 0
2,016	0
2,017	60,000
2,018	0
2,019	50,000
Thereafter	90,000
Borrowings	$ 200,000	$ 200,000

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Debt Instrument [Line Items]
Interest expense incurred on debt and credit facilities	$ 2.8	$ 2.8	$ 8.3	$ 8.3
Level 2
Debt Instrument [Line Items]
Borrowings fair value	$ 198.3		$ 198.3

Noncontrolling Interest - Hol45

Noncontrolling Interest - Holdings (Details) - USD ($) $ in Thousands	Aug. 20, 2015	May. 21, 2015	Mar. 09, 2015	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Noncontrolling Interest [Line Items]
APAM economic interest in Artisan Partners Holdings LP (as a percent)				54.00%	54.00%		47.00%
Stock Repurchased and Retired During Period, Shares					67,145
Conversion of Stock, Shares Converted	145,265	132,961	527,012	805,238
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax					$ 0	$ 0
Additional Paid-in Capital
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax					6,105	12,323
Noncontrolling Interest
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax					(6,039)	(11,950)
Accumulated Other Comprehensive Income
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax					(29)	(258)
Deferred Tax Assets [Member]
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax					$ 37	115
Class A Common Stock
Noncontrolling Interest [Line Items]
Stock Issued During Period, Shares, New Issues			3,831,550
General Partnership Units [Member]
Noncontrolling Interest [Line Items]
Stock Issued During Period, Shares, New Issues			3,831,550		805,238
Capital Units [Member]
Noncontrolling Interest [Line Items]
Stock Repurchased and Retired During Period, Shares			3,831,550
Conversion of Stock, Shares Converted					805,238
Restricted Stock [Member]
Noncontrolling Interest [Line Items]
Stock Issued During Period, Shares, New Issues					562,950
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period					(12,415)
Restricted Stock [Member] | Class A Common Stock
Noncontrolling Interest [Line Items]
Stock Issued During Period, Shares, New Issues					562,950
Restricted Stock [Member] | General Partnership Units [Member]
Noncontrolling Interest [Line Items]
Stock Issued During Period, Shares, New Issues					562,950
Class B Liability Awards [Member]
Noncontrolling Interest [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period					(54,730)
Deferred Tax Assets [Member] | Additional Paid-in Capital
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax					$ 6,200	$ (2,800)

Variable and Voting Interest 46

Variable and Voting Interest Entities - Condensed Consolidating Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Income Statement [Line Items]
Total revenues	$ 198,313	$ 212,406	$ 613,461	$ 622,685
Total operating expenses	127,758	131,390	396,764	393,692
Operating income	70,555	81,016	216,697	228,993
Non-operating income (loss)		(1,999)		(12,526)
Net gain (loss) of Launch Equity		(557)		(2,039)
Total non-operating income (loss)	(8,777)	(2,556)	(20,636)	(14,565)
Income (loss) before income taxes	61,778	78,460	196,061	214,428
Provision for income taxes	11,630	15,335	33,209	35,193
Net income (loss)	50,148	63,125	162,852	179,235
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings	31,674	43,243	101,128	132,939
Less: Net income (loss) attributable to noncontrolling interests - Launch Equity	0	(557)	0	(2,039)
Net income attributable to Artisan Partners Asset Management Inc.	18,474	20,439	61,724	48,335
Eliminations
Condensed Income Statement [Line Items]
Total revenues		(129)		(388)
Total operating expenses		(129)		(388)
Operating income		0		0
Non-operating income (loss)		0
Net gain (loss) of Launch Equity		0
Total non-operating income (loss)		0
Income (loss) before income taxes		0
Provision for income taxes		0
Net income (loss)		0
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings		0
Less: Net income (loss) attributable to noncontrolling interests - Launch Equity		0
Net income attributable to Artisan Partners Asset Management Inc.		0
Before Consolidation
Condensed Income Statement [Line Items]
Total revenues		212,535		623,073
Total operating expenses		131,519		394,080
Operating income		81,016		228,993
Non-operating income (loss)		(1,999)		(12,526)
Net gain (loss) of Launch Equity		0
Total non-operating income (loss)		(1,999)		(12,526)
Income (loss) before income taxes		79,017		216,467
Provision for income taxes		15,335		35,193
Net income (loss)		63,682		181,274
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings		43,243		132,939
Less: Net income (loss) attributable to noncontrolling interests - Launch Equity		0
Net income attributable to Artisan Partners Asset Management Inc.		20,439		48,335
Parent Investment in Consolidated Variable Interest Entity	$ 1		$ 1
Launch Equity
Condensed Income Statement [Line Items]
Total revenues		0
Total operating expenses		0
Operating income		0
Non-operating income (loss)		0
Net gain (loss) of Launch Equity		(557)		(2,039)
Total non-operating income (loss)		(557)		(2,039)
Income (loss) before income taxes		(557)		(2,039)
Provision for income taxes		0
Net income (loss)		(557)		(2,039)
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings		0
Less: Net income (loss) attributable to noncontrolling interests - Launch Equity		(557)		(2,039)
Net income attributable to Artisan Partners Asset Management Inc.		$ 0		$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015votes$ / sharesshares	Sep. 30, 2014$ / shares	Sep. 30, 2015votes$ / sharesshares	Sep. 30, 2014$ / shares	Dec. 31, 2014$ / sharesshares
Class of Stock [Line Items]
Common stock, shares outstanding	73,409,072		73,409,072		72,927,543
Dividends declared per Class A common share | $ / shares	$ 0.60	$ 0.55	$ 2.75	$ 3.28
Preferred Stock, Dividends, Per Share, Cash Paid | $ / shares	$ 0	0	$ 0	3.81
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000		500,000,000		500,000,000
Common stock, shares outstanding	39,411,178		39,411,178		34,238,131
Common stock votes per share | votes	1		1
Common stock, par value per share | $ / shares	$ 0.01		$ 0.01		$ 0.01
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	200,000,000		200,000,000		200,000,000
Common stock, shares outstanding	18,327,222		18,327,222		21,463,033
Common stock votes per share | votes	5		5
Common stock, par value per share | $ / shares	$ 0.01		$ 0.01		$ 0.01
Class C Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	400,000,000		400,000,000		400,000,000
Common stock, shares outstanding	15,670,672		15,670,672		17,226,379
Common stock votes per share | votes	1		1
Common stock, par value per share | $ / shares	$ 0.01		$ 0.01		$ 0.01
Restricted Stock [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2,862,128		2,862,128		2,700,634
Restricted Stock [Member] | General Partnership Units [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	2,782,128		2,782,128
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	122,990		122,990		20,612
Quarterly Cash Dividend [Member]
Class of Stock [Line Items]
Dividends declared per Class A common share | $ / shares	$ 0.60		$ 1.80	1.65
Special Annual Dividend [Member]
Class of Stock [Line Items]
Dividends declared per Class A common share | $ / shares	$ 0	$ 0	$ 0.95	$ 1.63

Stockholders' Equity Dividends

Stockholders' Equity Dividends Declared (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Dividends Payable [Line Items]
Class A Common Stock, Cash Dividends Paid	$ 0.60	$ 0.55	$ 2.75	$ 3.28
Preferred Stock, Dividends, Per Share, Cash Paid	0	0	0	3.81
Quarterly Cash Dividend [Member]
Dividends Payable [Line Items]
Class A Common Stock, Cash Dividends Paid	0.60		1.80	1.65
Special Annual Dividend [Member]
Dividends Payable [Line Items]
Class A Common Stock, Cash Dividends Paid	$ 0	$ 0	$ 0.95	$ 1.63

Stockholders' Equity Share Acti

Stockholders' Equity Share Activity by Class of Stock (Details) - shares	Mar. 09, 2015	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Common stock, shares outstanding		73,409,072	73,409,072	72,927,543
Stock Repurchased and Retired During Period, Shares			(67,145)
Shares Paid for Tax Withholding for Share Based Compensation			(14,276)
Class A Common Stock
Common stock, shares outstanding		39,411,178	39,411,178	34,238,131
Stock Issued During Period, Shares, New Issues	3,831,550
Class B Common Stock
Common stock, shares outstanding		18,327,222	18,327,222	21,463,033
Class C Common Stock
Common stock, shares outstanding		15,670,672	15,670,672	17,226,379
Common Stock | Class A Common Stock
Stock Issued During Period, Shares, New Issues	3,831,550
Common Stock | Class B Common Stock
Stock Repurchased and Retired During Period, Shares	(2,415,253)
Common Stock | Class C Common Stock
Stock Repurchased and Retired During Period, Shares	(1,416,297)
Common Stock | Class A Common Stock
Stock Issued During Period, Shares, New Issues		805,238
Common Stock | Class B Common Stock
Stock Repurchased and Retired During Period, Shares		(355,305)
Common Stock | Class C Common Stock
Stock Repurchased and Retired During Period, Shares		(449,933)
Restricted Stock [Member]
Stock Issued During Period, Shares, New Issues			562,950
Restricted Stock [Member] | Class A Common Stock
Stock Issued During Period, Shares, New Issues			562,950
Restricted Stock [Member] | Class B Common Stock
Stock Repurchased and Retired During Period, Shares			0
Restricted Stock [Member] | Class C Common Stock
Stock Repurchased and Retired During Period, Shares			0
Common Stock | Class A Common Stock
Stock Repurchased and Retired During Period, Shares			(12,415)
Common Stock | Class B Common Stock
Stock Repurchased and Retired During Period, Shares			(365,253)
Common Stock | Class C Common Stock
Stock Issued During Period, Shares, New Issues			310,523

Stockholders' Equity Distributi

Stockholders' Equity Distributions (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Distribution Made to Limited Partner [Line Items]
Holdings Partnership Distributions	[1]	$ 81,140	$ 81,632	$ 269,704	$ 329,704
Artisan Partners Asset Management [Member]
Distribution Made to Limited Partner [Line Items]
Holdings Partnership Distributions to APAM		$ 42,623	$ 35,263	$ 134,530	$ 116,149
[1]	(1) Including distributions to APAM

Compensation and Benefits - Com

Compensation and Benefits - Components of expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salaries, incentive compensation and benefits	$ 81,392	$ 83,834	$ 255,969	$ 246,493
Restricted share-based award compensation expense			59,811	68,108
Total salaries, incentive compensation and benefits	91,159	90,743	283,294	261,893
Pre-offering related compensation - share-based awards	10,532	12,431	31,596	52,234
Total compensation and benefits	101,691	103,174	314,890	314,127
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share-based award compensation expense	$ 9,767	$ 6,909	$ 27,325	$ 15,400

Compensation and Benefits - Res

Compensation and Benefits - Restricted Share Activity (Details) - Restricted Stock [Member] - $ / shares	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested - Weighted Average Grant Date Fair Value	$ 51.58	$ 52.59
Unvested - Number of Awards	2,862,128	2,700,634
Granted - Weighted Average Grant Date Fair Value	$ 48.17
Granted - Number of Awards	(642,950)
Forfeited - Weighted Average Grant Date Fair Value	$ 52.71
Forfeited - Number of Awards	(12,415)
Vested - Weighted Average Grant Date Fair Value	$ 52.69
Vested - Number of Awards	(469,041)

Compensation and Benefits - Pre

Compensation and Benefits - Pre-Offering Related Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-offering related compensation - share-based awards	$ 10,532	$ 12,431	$ 31,596	$ 52,234

Compensation and Benefits - Cla

Compensation and Benefits - Class B Awards Activity (Details) - Class B Liability Awards [Member] - $ / shares	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested - Weighted Average Grant Date Fair Value	$ 30	$ 30
Unvested - Number of Awards	2,348,334	4,045,016
Granted - Weighted Average Grant Date Fair Value	$ 0
Granted - Number of Awards	0
Forfeited - Weighted Average Grant Date Fair Value	$ 30
Forfeited - Number of Awards	(54,730)
Vested - Weighted Average Grant Date Fair Value	$ 30
Vested - Number of Awards	(1,641,952)

Compensation and Benefits - Add

Compensation and Benefits - Additional information (Details) - USD ($) $ in Thousands	Mar. 09, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Feb. 17, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		14,000,000		14,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		10,336,935		10,336,935
Restricted share-based award compensation expense				$ 59,811	$ 68,108
Shares Paid for Tax Withholding for Share Based Compensation				14,276
Taxes paid related to employee net share settlement				$ 669	302
Stock Based Awards Redemption Amount		$ 9,300		9,300			$ 14,300
StockBasedAwardPayment		800		5,000
Compensation expense recognized		10,532	$ 12,431	$ 31,596	52,234
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				5 years
Stock Issued During Period, Shares, New Issues				562,950
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				642,950
Restricted share-based award compensation expense		9,767	$ 6,909	$ 27,325	$ 15,400
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		129,600		$ 129,600		$ 30,500
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				3 years 8 months 21 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				80,000
Class B Liability Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				5 years
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 54,000		$ 54,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition				1 year 7 months 15 days
Redemption period for terminated employees				5 years
Common Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues	3,831,550
Common Class A [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, New Issues				562,950

Income Taxes and Related Paym56

Income Taxes and Related Payments - Components of provision for income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	$ 9,797	$ 6,050	$ 21,911	$ 21,132
State and local	1,355	1,106	2,896	3,016
Foreign	108	32	271	182
Total	11,260	7,188	25,078	24,330
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal	350	12,025	14,979	14,971
State and local	20	(3,878)	(6,848)	(4,108)
Total	370	8,147	8,131	10,863
Income tax expense	$ 11,630	$ 15,335	$ 33,209	$ 35,193

Income Taxes and Related Paym57

Income Taxes and Related Payments - Components of deferred tax assets (Details) - USD ($) $ in Thousands		Sep. 30, 2015	Dec. 31, 2014
Deferred tax assets:
Amortizable basis	[1]	$ 668,414	$ 551,952
Other	[2]	18,646	10,444
Total deferred tax assets		687,060	562,396
Less: valuation allowance	[3]	0	0
Deferred tax assets		$ 687,060	$ 562,396
[1]	Represents the unamortized step-up of tax basis from the merger described above, the purchase of common and preferred units by APAM, and the exchange of common and preferred units for Class A common shares of APAM.
[2]	Represents the net deferred tax assets associated with the merger described above and other miscellaneous deferred tax assets.
[3]	Artisan assessed whether the deferred tax assets would be realizable and determined based on its history of taxable income that the benefits would more likely than not be realized. Accordingly, no valuation allowance is required.

Income Taxes and Related Paym58

Income Taxes and Related Payments - Additional information (Details) - USD ($) $ in Thousands		Mar. 09, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Payments of amounts owed under tax receivable agreements			$ 20,200			$ 20,040	$ 4,645
Statutory Tax Rate						35.00%
Approximate percentage of earnings not subject to income taxes						50.00%
TRA percent of savings to be paid to shareholders						85.00%
Tax Receivable Agreement Percentage To Be Retained by Entity						15.00%
Tax Receivable Agreement Payment Period						125
Other Tax Expense (Benefit)						$ 14,700	4,900
Net (Gain) Loss On The Tax Receivable Agreements			5,820	$ (284)		12,247	4,187
Deferred tax assets	[1]		$ 668,414		$ 668,414	668,414		$ 551,952
Establishment of deferred tax assets		$ 105,100			126,300	132,559	386,324
Establishment of amounts payable under tax receivable agreements		$ 89,400			$ 107,400	$ 107,385	$ 326,048
[1]	Represents the unamortized step-up of tax basis from the merger described above, the purchase of common and preferred units by APAM, and the exchange of common and preferred units for Class A common shares of APAM.

Accumulated Other Comprehensi59

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized gain on investments	$ (75)	$ 326
Foreign currency translation	(293)	(120)
Accumulated other comprehensive income (loss)	$ (368)	$ 206

Earnings (Loss) Per Share - Com

Earnings (Loss) Per Share - Computation of basic and diluted net income (loss) per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to APAM	$ 18,474	$ 20,439	$ 61,724	$ 48,335
Less: Convertible preferred stock deemed dividends	0	0	0	22,694
Less: Allocation to participating securities, Basic	2,574	3,246	13,480	25,933
Net Income (Loss) Available to Common Stockholders	$ 15,900	$ 17,193	$ 48,244	$ (26,761)
Weighted average shares outstanding	36,430,820	30,370,892	35,032,841	26,177,724
Earnings (loss) per share	$ 0.44	$ 0.57	$ 1.38	$ (1.02)
Subsidiary Preferred Stock [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Less: Convertible preferred stock deemed dividends	$ 0	$ 0	$ 0	$ 26,469

Earnings (Loss) Per Share - Ant

Earnings (Loss) Per Share - Antidilutive securities excluded from the computation of net income per share (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	37,106,208	42,350,579	38,405,722	45,763,196
Holdings limited partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	34,078,421	39,767,645	35,288,887	43,349,132
Convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0	0	474,938
Unvested restricted share-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3,027,787	2,582,934	3,116,835	1,939,126

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Artisan Funds
Related Party Transaction [Line Items]
Investment management fees	$ 130,842	$ 144,873	$ 404,013	$ 423,620
Fee waiver / expense reimbursement	317	17	$ 368	95
Artisan Funds | Minimum
Related Party Transaction [Line Items]
Annualized operating expenses maximum percentage of average daily net assets			1.25%
Management fee percentage of average daily net assets			0.63%
Artisan Funds | Maximum
Related Party Transaction [Line Items]
Annualized operating expenses maximum percentage of average daily net assets			1.50%
Management fee percentage of average daily net assets			1.25%
Artisan Global Funds
Related Party Transaction [Line Items]
Investment management fees	3,807	3,685	$ 11,376	10,552
Fee waiver / expense reimbursement	102	207	346	377
Due from related parties	$ 1,200		$ 1,200		$ 1,300
Artisan Global Funds | Minimum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets			0.75%
Management fee threshold for reimbursement, percentage average daily net assets			0.10%
Artisan Global Funds | Maximum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets			1.80%
Management fee threshold for reimbursement, percentage average daily net assets			0.20%
Launch Equity [Member]
Related Party Transaction [Line Items]
Fee waiver / expense reimbursement		$ 40		$ 133
Management fee as a percentage of closing capital account			1.00%
Percentage of fee expected to be waived in current period			100.00%

Subsequent Events Details (Deta

Subsequent Events Details (Details) - Subsequent Event [Member] $ / shares in Units, $ in Millions	Oct. 21, 2015USD ($)$ / shares
Subsequent Event [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 40.3
Quarterly Cash Dividend [Member] | Class A Common Stock
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared | $ / shares	$ 0.60