Artisan Partners Asset Management (APAM) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
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	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		49,218,959
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		12,830,762
Class C Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		13,541,384

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 222,182	$ 156,777
Accounts receivable	63,399	59,739
Investment securities	213	6,297
Property and equipment, net	20,617	20,018
Deferred tax assets	788,043	678,518
Prepaid expenses and other assets	13,041	14,817
Total assets	1,107,495	936,166
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable, accrued expenses, and other	21,814	20,087
Accrued incentive compensation	60,020	12,642
Borrowings	199,517	199,477
Amounts payable under tax receivable agreements	685,435	586,246
Total liabilities	966,786	818,452
Commitments and contingencies
Additional paid-in capital	126,965	119,221
Retained earnings	13,596	13,395
Accumulated other comprehensive income (loss)	(1,776)	(1,648)
Total stockholders’ equity	139,541	131,711
Noncontrolling interest - Artisan Partners Holdings	1,168	(13,997)
Total equity	140,709	117,714
Total liabilities and equity	1,107,495	936,166
Class A Common Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Common stock	492	421
Class B Common Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Common stock	128	151
Class C Common Stock
LIABILITIES AND STOCKHOLDERS' EQUITY
Common stock	$ 136	$ 171

Unaudited Consolidated Stateme3

Unaudited Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Common stock, shares outstanding	75,591,105	74,354,869
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	49,218,959	42,149,436
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	12,830,762	15,142,049
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	13,541,384	17,063,384

Unaudited Consolidated Stateme4

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Management fees	$ 184,074	$ 174,378
Performance fees	0	151
Total revenues	184,074	174,529
Compensation and benefits
Salaries, incentive compensation and benefits	93,249	87,480
Pre-offering related compensation - share-based awards	6,339	7,819
Total compensation and benefits	99,588	95,299
Distribution and marketing	7,374	8,158
Occupancy	3,506	3,181
Communication and technology	8,423	7,217
General and administrative	7,151	5,949
Total operating expenses	126,042	119,804
Total operating income	58,032	54,725
Non-operating income (loss)
Interest expense	(2,881)	(2,905)
Net investment income and other	153	15
Total non-operating income (loss)	(2,728)	(2,890)
Income before income taxes	55,304	51,835
Provision for income taxes	12,749	11,517
Net income before noncontrolling interests	42,555	40,318
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings	22,760	24,057
Net income attributable to Artisan Partners Asset Management Inc.	$ 19,795	$ 16,261
Earnings (loss) per share
Basic and diluted earnings per share	$ 0.37	$ 0.35
Weighted average number of common shares outstanding
Basic and diluted weighted average number of common shares outstanding	41,019,598	36,970,950
Dividends declared per Class A common share	$ 0.96	$ 1

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net income before noncontrolling interests	$ 42,555	$ 40,318
Unrealized gain (loss) on investment securities:
Unrealized gain (loss) on investment securities, net of tax of ($8), and $1, respectively	56	(26)
Less: reclassification adjustment for gain (loss) included in net income	93	0
Net unrealized gain (loss) on investment securities	(37)	(26)
Foreign currency translation gain (loss)	206	(287)
Total other comprehensive income (loss)	169	(313)
Comprehensive income	42,724	40,005
Comprehensive income attributable to noncontrolling interests - Artisan Partners Holdings	23,058	23,928
Comprehensive income attributable to Artisan Partners Asset Management Inc.	$ 19,666	$ 16,077

Unaudited Consolidated Stateme6

Unaudited Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Securities Arising During Period, Tax	$ (8)	$ 1

Unaudited Consolidated Stateme7

Unaudited Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Common Stock	Common StockClass C Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income	Noncontrolling Interest	Deferred Tax Assets
Balance at beginning of period at Dec. 31, 2015	$ 116,551	$ 394	$ 183	$ 157	$ 116,448	$ 13,238	$ (375)	$ (13,494)
Net income	40,318					16,261		24,057
Other comprehensive income - foreign currency translation	(287)						(149)	(138)
Other comprehensive income - available for sale investments, net of tax	(25)						0	(25)
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	0				(286)		(35)	320	$ (1)
Amortization of equity-based compensation	18,917				10,837	(409)	0	8,489
Deferred tax assets, net of amounts payable under tax receivable agreements	4,402				4,402
Issuance of Class A common stock, net of issuance costs	(11)	0			(11)
Issuance of restricted stock awards	0	11			(11)
Employee net share settlement	(334)	0	0	0	(180)			(154)
Exchange of subsidiary equity	0	8	(7)	(1)	0	0	0	0
Distributions	(19,329)							(19,329)
Dividends	(39,590)				(21,170)	(18,384)		(36)
Balance at end of period at Mar. 31, 2016	120,611	413	176	156	110,029	10,706	(559)	(310)
Balance at beginning of period at Dec. 31, 2016	117,714	421	151	171	119,221	13,395	(1,648)	(13,997)
Net income	42,555					19,795		22,760
Other comprehensive income - foreign currency translation	206						126	80
Other comprehensive income - available for sale investments, net of tax	(36)						(17)	(19)
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	0				(1,274)		(237)	1,510	$ (1)
Amortization of equity-based compensation	18,830				11,024	0	0	7,806
Deferred tax assets, net of amounts payable under tax receivable agreements	19,987				19,987
Issuance of Class A common stock, net of issuance costs	162,080	56		0	162,024
Issuance of restricted stock awards	0	13		0	(13)
Employee net share settlement	(930)	0		0	(530)	0	0	(400)
Exchange of subsidiary equity	0	2	(2)	0
Purchase of equity and subsidiary equity	(162,494)		(21)	(35)	(162,438)
Distributions	(16,530)							(16,530)
Dividends	(40,672)				(21,036)	(19,594)		(42)
Balance at end of period at Mar. 31, 2017	$ 140,709	$ 492	$ 128	$ 136	$ 126,965	$ 13,596	$ (1,776)	$ 1,168

Unaudited Consolidated Stateme8

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income before noncontrolling interests	$ 42,555	$ 40,318
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,257	1,177
Deferred income taxes	9,657	8,118
Capital gains on the sale of investment securities	(93)	0
Loss on disposal of property and equipment	14	22
Amortization of debt issuance costs	112	112
Share-based compensation	18,830	18,917
Change in assets and liabilities resulting in an increase (decrease) in cash:
Accounts receivable	(3,661)	3,666
Prepaid expenses and other assets	1,589	(1,167)
Accounts payable and accrued expenses	47,763	41,147
Class B liability awards	(506)	(574)
Deferred lease obligations	1,479	(49)
Net cash provided by operating activities	118,996	111,687
Cash flows from investing activities
Acquisition of property and equipment	(353)	(646)
Leasehold improvements	(1,138)	(65)
Proceeds from sale of investment securities	6,382	0
Purchase of investment securities	(250)	0
Net cash provided by (used in) investing activities	4,641	(711)
Cash flows from financing activities
Partnership distributions	(16,530)	(19,329)
Dividends paid	(40,672)	(39,590)
Net proceeds from issuance of common stock	162,494	0
Payment of costs directly associated with the issuance of Class A common stock	(100)	0
Purchase equity and subsidiary equity	(162,494)	0
Taxes paid related to employee net share settlement	(930)	(334)
Net cash used in financing activities	(58,232)	(59,253)
Net increase (decrease) in cash and cash equivalents	65,405	51,723
Cash and cash equivalents
Beginning of period	156,777	166,193
End of period	222,182	217,916
Noncash activity:
Establishment of deferred tax assets	119,175	16,592
Establishment of amounts payable under tax receivable agreements	$ 99,189	$ 12,190

Nature of Business and Organiza

Nature of Business and Organization	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Business and Organization	Note 1. Nature of Business and Organization Nature of Business Artisan Partners Asset Management Inc. (“APAM”), through its subsidiaries, is an investment management firm focused on providing high-value added, active investment strategies to sophisticated clients globally. APAM and its subsidiaries are hereafter referred to collectively as “Artisan” or the “Company”. Artisan’s autonomous investment teams manage a broad range of U.S., non-U.S. and global investment strategies that are diversified by asset class, market cap and investment style. 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 March 31, 2017 , APAM held approximately 65% of the equity ownership interest in Holdings. Holdings, together with its wholly owned subsidiary, Artisan Investments GP LLC (“AIGP”), controls a 100% interest in Artisan Partners Limited Partnership (“APLP”), a multi-product investment management firm that is the principal operating subsidiary of Artisan Partners Holdings. APLP is registered as an investment adviser with the U.S. Securities and Exchange Commission under the Investment Advisers Act of 1940. APLP provides investment advisory services to separate accounts and pooled investment vehicles, including Artisan Partners Funds, Inc. (“Artisan Funds” or the “Funds”) and Artisan Partners Global Funds plc (“Artisan Global Funds”). Artisan Funds are a series of open-end, diversified mutual funds registered under the Investment Company Act of 1940, as amended. Artisan Global Funds is a family of Ireland-domiciled UCITS. 2017 Follow-On Offering On February 28, 2017, APAM completed a registered offering of 5,626,517 shares of Class A common stock (the “2017 Follow-On Offering”) and utilized all of the proceeds to purchase an aggregate of 5,626,517 common units of Artisan Partners Holdings at a price per unit of $28.88 . The offering and subsequent purchase of units had the following impact on the consolidated financial statements: • APAM received 5,626,517 GP units of Holdings, which increased APAM’s 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 and amounts payable under the tax receivable agreements. See Note 9, “Income Taxes and Related Payments” . Holdings Unit Exchanges Limited partners of Artisan Partners Holdings are entitled to exchange partnership units (along with a corresponding number of shares of Class B or C common stock of APAM) for shares of Class A common stock each quarter (the “Holdings Common Unit Exchanges”). The following partnership units were exchanged for APAM Class A common stock during the three months ended March 31, 2017 : Total Common Units Exchanged Class A Common Units Class B Common Units Class E Common Units Common units exchanged on March 6, 2017 206,770 — 206,770 — The corresponding shares of APAM Class B common stock were immediately canceled upon exchange. The Holdings Common Unit Exchanges increased APAM’s equity ownership interest in Holdings and resulted in an increase to deferred tax assets and amounts payable under the tax receivable agreements. See Note 9, “Income Taxes and Related Payments” .

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
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. The consolidation guidance requires an analysis to determine if an entity should be evaluated for consolidation using the voting interest entity (“VOE”) model or the variable interest entity (“VIE”) model. Under the VOE model, controlling financial interest is generally defined as a majority ownership of voting interests. Under the VIE model, controlling financial interest is defined as (i) the power to direct activities that most significantly impact the economic performance of the entity and (ii) the right to receive potentially significant benefits or the obligation to absorb potentially significant losses. The consolidated financial statements include the accounts of APAM and all subsidiaries or other entities in which APAM has a direct or indirect controlling financial interest. All material intercompany balances have been eliminated in consolidation. Artisan serves as the investment adviser for Artisan Funds and Artisan Global Funds. 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. Each series of Artisan Funds is a VOE and is separately evaluated for consolidation under the VOE model. The shareholders of Artisan Global Funds lack simple majority liquidation rights, and as a result, Artisan Global Funds is evaluated for consolidation under the VIE model. From time to time, the Company makes investments in Artisan Funds and Artisan Global Funds, which are made on the same terms as are available to other investors. If the investment results in a controlling financial interest, APAM consolidates the fund, and the underlying individual securities are accounted for as trading securities. Investments in which the Company does not have a controlling financial interest are classified as available-for-sale investments. As of March 31, 2017 , APAM does not have a controlling financial interest in any sponsored investment portfolio or series of Artisan Funds or Artisan Global Funds and therefore does not consolidate these entities. Recent accounting pronouncements Accounting standards not yet adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which supersedes existing accounting standards for revenue recognition and creates a single framework. The guidance also changes the accounting for certain costs to obtain or fulfill a contract. The new guidance will be effective on January 1, 2018, and allows for either a full retrospective or modified retrospective transition method. The Company is currently evaluating its transition method and the potential impact on the timing of performance fee revenue recognition and the potential capitalization of certain cash incentive compensation; however, based on current evaluations, the Company does not expect the adoption to have a material impact on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which requires all equity investments to be measured at fair value with changes in the fair value recognized through net income. ASU 2016-01 will be effective on January 1, 2018 and will result in a cumulative-effect adjustment to the Company’s Consolidated Statements of Financial Condition upon adoption. Upon adoption, the Company’s unrealized gains (losses) on available-for-sale investment securities will be recognized through net income, which will be a change from the current treatment of recognition in other comprehensive income (loss). In February 2016, the FASB issued ASU 2016-02, Leases, which introduces a lessee model that brings most leases on the balance sheet. The new guidance will be effective on January 1, 2019 and will require a modified retrospective approach to adoption. Early adoption is permitted. The Company is currently evaluating the impact of adoption on its consolidated financial statements. The standard is expected to result in a significant increase in total assets and liabilities, but will not have a significant impact on the consolidated statement of operations.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Mutual funds $ 156 $ 57 $ — $ 213 December 31, 2016 Mutual funds $ 6,194 $ 103 $ — $ 6,297 Artisan’s investments in mutual funds consist of investments in shares of Artisan Funds and Artisan Global Funds and are considered to be available-for-sale securities. As a result, unrealized gains (losses) are recorded to other comprehensive income (loss). As of March 31, 2017 and December 31, 2016, none of the Company’s investment securities were in an unrealized loss position. No impairment losses were recorded on these available-for-sale securities.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 : Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2017 Assets Cash equivalents $ 99,227 $ 99,227 $ — $ — Mutual funds 213 213 — — December 31, 2016 Assets Cash equivalents $ 64,170 $ 64,170 $ — $ — Mutual funds 6,297 6,297 — — 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 and UCITS funds. There were no Level 2 or Level 3 assets or liabilities recorded at fair value as of March 31, 2017 and December 31, 2016 . 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 three months ended March 31, 2017 and 2016 .

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Borrowings	Note 5. Borrowings Artisan’s borrowings consist of the following as of March 31, 2017 and December 31, 2016 : 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 $202.6 million as of March 31, 2017 . 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 for the three months ended March 31, 2017 and 2016 . As of March 31, 2017 , the aggregate maturities of debt obligations, based on their contractual terms, are as follows: 2017 $ 60,000 2018 — 2019 50,000 2020 — 2021 — Thereafter 90,000 Total $ 200,000

Noncontrolling interest - Holdi

Noncontrolling interest - Holdings	3 Months Ended
	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Noncontrolling interest - Holdings	Note 6. Noncontrolling interest - Holdings Net income attributable to noncontrolling interests - Artisan Partners Holdings in the Unaudited Consolidated Statements of Operations represents the portion of earnings or loss attributable to the equity ownership interests in Holdings held by the limited partners of Holdings. As of March 31, 2017 , APAM held approximately 65% of the equity ownership interests in Holdings. In order to maintain the one-to-one correspondence of the number of Holdings partnership units and APAM common shares, Holdings will issue one general partner (“GP”) unit to APAM for each share of Class A common stock issued by APAM. For the three months ended March 31, 2017 , APAM’s equity ownership interest in Holdings has increased as a result of the following transactions: Holdings GP Units Limited Partnership Units Total APAM Ownership % Balance at December 31, 2016 42,149,436 32,205,433 74,354,869 57 % 2017 Follow-On Offering 5,626,517 (5,626,517 ) — 7 % Holdings Common Unit Exchanges (1) 206,770 (206,770 ) — — % Issuance of APAM Restricted Shares 1,267,250 — 1,267,250 1 % Restricted Share Award Net Share Settlement (1) (31,014 ) — (31,014 ) — % Balance at March 31, 2017 49,218,959 26,372,146 75,591,105 65 % (1) The impact of the transaction on APAM’s ownership percentage was less than 1%. 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 Unaudited Condensed Consolidated Statements of Financial Condition: Statement of Financial Condition For the Three Months Ended March 31, 2017 2016 Additional paid-in capital $ (1,274 ) $ (286 ) Noncontrolling interest - Artisan Partners Holdings 1,510 320 Accumulated other comprehensive income (loss) (236 ) (34 ) Net impact to financial condition — — 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 $2.5 million for the three months ended March 31, 2017 and $2.3 million for the three months ended March 31, 2016 .

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 7. Stockholders’ Equity APAM - Stockholders’ Equity As of March 31, 2017 and December 31, 2016 , APAM had the following authorized and outstanding equity: Outstanding Authorized March 31, 2017 December 31, 2016 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 49,218,959 42,149,436 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 12,830,762 15,142,049 5 votes per share None Class C, par value $0.01 per share 400,000,000 13,541,384 17,063,384 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 March 31, 2017, Artisan’s employees held 4,377,157 restricted shares of Class A common stock subject to the agreement and all 12,830,762 outstanding shares of Class B common stock. 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 months ended March 31, 2017 and 2016 : Type of Dividend Class of Stock For the Three Months Ended March 31, 2017 2016 Quarterly Class A Common $ 0.60 $ 0.60 Special Annual Class A Common $ 0.36 $ 0.40 The following table summarizes APAM’s stock transactions for the three months ended March 31, 2017 : Total Stock Outstanding Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2016 74,354,869 42,149,436 15,142,049 17,063,384 2017 Follow-On Offering — 5,626,517 (2,104,517 ) (3,522,000 ) Holdings Common Unit Exchanges — 206,770 (206,770 ) — Restricted Share Award Grants 1,267,250 1,267,250 — — Restricted Share Award Net Share Settlement (31,014 ) (31,014 ) — — Balance at March 31, 2017 75,591,105 49,218,959 12,830,762 13,541,384 (1) There were 218,089 and 178,401 restricted stock units outstanding at March 31, 2017 and December 31, 2016, respectively. Restricted stock units are not reflected in the table because they are not considered outstanding or issued stock. 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. The corresponding shares of Class B and Class C common stock are immediately canceled upon any such 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 months ended March 31, 2017 and 2016 , were as follows: For the Three Months Ended March 31, 2017 2016 Holdings Partnership Distributions to Limited Partners $ 16,530 $ 19,329 Holdings Partnership Distributions to APAM 21,633 22,433 Total Holdings Partnership Distributions $ 38,163 $ 41,762 The distributions are recorded as a reduction to consolidated stockholders’ equity, with the exception of distributions made to APAM, which are eliminated upon consolidation.

Compensation and Benefits

Compensation and Benefits	3 Months Ended
	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation and Benefits	Note 8. Compensation and Benefits Total compensation and benefits consists of the following: For the Three Months Ended March 31, 2017 2016 Salaries, incentive compensation and benefits (1) $ 81,482 $ 77,096 Restricted share-based award compensation expense 11,767 10,384 Total salaries, incentive compensation and benefits 93,249 87,480 Pre-offering related compensation - share-based awards 6,339 7,819 Total compensation and benefits $ 99,588 $ 95,299 (1) Excluding restricted share-based award compensation expense Incentive compensation Cash incentive compensation paid to members of Artisan’s investment 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 executive officers for the year ended December 31, 2016, was paid in the three months ended March 31, 2017. 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 granted 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. 7,995,090 shares of Class A common stock were reserved and available for issuance under the Plan as of March 31, 2017 . During the three months ended March 31, 2017 , Artisan granted 1,267,250 restricted stock awards and 1,250 restricted stock units of Class A common stock to employees of the Company. Total compensation expense associated with the 2017 grants is expected to be approximately $35.9 million . Compensation expense related to the restricted share-based awards is recognized based on the estimated grant date fair value on a straight-line basis over the requisite service period of the award. The initial requisite service period is generally five years for restricted share-based awards. The Company’s accounting policy is to record the impact of forfeitures when they occur. No restricted share-based awards were forfeited during the three months ended March 31, 2017 . The following table summarizes the restricted share-based award activity for the three months ended March 31, 2017 : Weighted-Average Grant Date Fair Value Number of Awards Unvested at January 1, 2017 $ 44.47 3,394,910 Granted $ 28.30 1,268,500 Forfeited — — Vested $ 36.48 (184,378 ) Unvested at March 31, 2017 $ 40.22 4,479,032 Compensation expense recognized related to the restricted share-based awards was $11.8 million and $10.4 million for the three months ended March 31, 2017 and 2016, respectively. The unrecognized compensation expense for the unvested awards as of March 31, 2017 was $135.2 million with a weighted average recognition period of 3.4 years remaining. The initial requisite service period and remaining weighted average recognition period for all types of restricted share-based awards are substantially equivalent. During the three months ended March 31, 2017 , the Company withheld a total of 31,014 restricted shares as a result of net share settlements to satisfy employee tax withholding obligations. The Company paid $0.9 million in employee tax withholding obligations related to these settlements during the three months ended March 31, 2017 . 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 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 remaining $0.5 million of redemption payments for Class B awards of partners whose services to Holdings terminated prior to the IPO was paid during the three months ended March 31, 2017 . 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 three months ended March 31, 2017 : Weighted-Average Grant Date Fair Value Number of Class B Awards Unvested Class B awards at January 1, 2017 $ 30.00 845,220 Granted — — Forfeited — — Vested — — Unvested Class B awards at March 31, 2017 $ 30.00 845,220 Compensation expense recognized related to the unvested Class B awards was $6.3 million and $7.8 million for the three months ended March 31, 2017 and 2016 , respectively. The unrecognized compensation expense for the unvested Class B awards as of March 31, 2017 was $6.3 million with a weighted average recognition period of 0.3 years remaining.

Income Taxes and Related Paymen

Income Taxes and Related Payments	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income taxes and related payments	Note 9. Income Taxes and Related Payments APAM is subject to U.S. federal, state and local income taxation on APAM’s allocable portion of Holdings’ income. 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, for the three months ended March 31, 2017, approximately 39% of Artisan Partners Holdings’ taxable earnings were attributable to other partners and not subject to corporate-level taxes. The effective tax rate was also lower due to dividends paid on unvested share-based awards, net of higher tax expense related to the vesting of restricted share-based awards. These favorable items are partially offset by the impact of certain permanent items, primarily attributable to pre-IPO share-based compensation expenses, that are not deductible for tax purposes. Components of the provision for income taxes consist of the following: For the Three Months Ended March 31, 2017 2016 Current: Federal $ 2,623 $ 2,670 State and local 361 544 Foreign 108 185 Total 3,092 3,399 Deferred: Federal 9,135 7,679 State and local 522 439 Total 9,657 8,118 Income tax expense $ 12,749 $ 11,517 In connection with the IPO, APAM entered into two tax receivable agreements (“TRAs”). The first TRA generally provides for the payment by APAM to a private equity fund (the “Pre-H&F Corp Merger Shareholder”) of 85% of the applicable cash savings, if any, of U.S. federal, state and local income taxes 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 Pre-H&F Corp Merger Shareholder into APAM in March 2013, (ii) net operating losses available as a result of the merger and (iii) tax benefits related to imputed interest. The second TRA generally provides for the payment by APAM to current or former limited partners of Holdings of 85% of the applicable cash savings, if any, of U.S. federal, state and local income taxes 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, convertible preferred stock or other consideration) and that are created as a result of such 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 of income taxes 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 sales or exchanges by the holders of limited partnership units, the price of the Class A common stock at the time of such sales or exchanges, whether such sales or 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 or depreciable basis or amortizable basis. 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 and imputed interest deductions. Artisan expects to make one or more payments under the TRAs, to the extent they are required, prior to or within 125 days after APAM’s U.S. federal income tax return is filed for each fiscal year. Interest on the TRA payments will accrue at a rate equal to one-year LIBOR plus 100 basis points two days prior to the due date (without extension) of such tax return until such payments are made. Amounts payable under tax receivable agreements are estimates which may be impacted by factors, including but not limited to, expected tax rates, projected taxable income, and projected ownership levels and are subject to change. Changes in the estimates of amounts payable under tax receivable agreements are recorded as non-operating income (loss) in the Consolidated Statements of Operations. The change in the Company’s deferred tax assets related to the tax benefits described above and the change in corresponding amounts payable under the TRAs for the three months ended March 31, 2017 is summarized as follows: Amounts payable under tax receivable agreements Deferred Tax Asset - Amortizable basis December 31, 2016 $ 586,246 $ 653,942 2017 Follow-On Offering 96,406 113,419 2017 Holdings Common Unit Exchanges 2,783 3,274 Amortization — (10,210 ) March 31, 2017 $ 685,435 $ 760,425 Net deferred tax assets comprise the following: As of March 31, 2017 As of December 31, 2016 Deferred tax assets: Amortizable basis (1) $ 760,425 $ 653,942 Other (2) 27,618 24,576 Total deferred tax assets 788,043 678,518 Less: valuation allowance (3) — — Net deferred tax assets $ 788,043 $ 678,518 (1) Represents the unamortized step-up of tax basis and other tax attributes from the merger and partnership unit sales and exchanges described above. These future tax benefits are subject to the TRA agreements. (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 March 31, 2017 and December 31, 2016 . In the normal course of business, Artisan is subject to examination by federal and certain state, local and foreign tax regulators. As of March 31, 2017 , U.S. federal income tax returns for the years 2013 through 2015 are open and therefore subject to examination. State and local tax returns are generally subject to examination from 2012 to 2015. Foreign tax returns are generally subject to examination from 2012 to 2015.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 10. 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 March 31, 2017 As of December 31, 2016 Unrealized gain on investments, net of tax $ 24 $ 37 Foreign currency translation gain (loss) (1,800 ) (1,685 ) Accumulated Other Comprehensive Income (Loss) $ (1,776 ) $ (1,648 ) 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 equity ownership interests in Holdings held by the limited partners of Holdings.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Note 11. Earnings Per Share Basic earnings per share is computed under the two-class method 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 employees. Income available to Class A common stockholders is computed by reducing net income attributable to APAM by earnings (distributed and undistributed) allocated to participating securities, according to their respective rights to participate in those earnings. Unvested share-based awards are participating securities because the awards include non-forfeitable dividend rights during the vesting period. Class B and Class C common shares do not share in profits of APAM and therefore are not reflected in the calculations. The computation of basic and diluted earnings per share under the two-class method for the three months ended March 31, 2017 and 2016 were as follows: For the Three Months Ended March 31, Basic and Diluted Earnings Per Share 2017 2016 Numerator: Net income attributable to APAM $ 19,795 $ 16,261 Less: Allocation to participating securities 4,426 3,162 Net income available to common stockholders $ 15,369 $ 13,099 Denominator: Weighted average shares outstanding 41,019,598 36,970,950 Earnings per share $ 0.37 $ 0.35 Allocation to participating securities in the table above generally represents dividends paid to holders of unvested restricted share-based awards and reduces net income available to common stockholders. There were no dilutive securities outstanding during the three months ended March 31, 2017 and 2016. 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 share-based awards are anti-dilutive because they 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 March 31, Anti-Dilutive Weighted Average Shares Outstanding 2017 2016 Holdings limited partnership units 30,218,943 33,740,947 Unvested restricted share-based awards 3,912,879 3,371,803 Total 34,131,822 37,112,750

Indemnifications

Indemnifications	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Indemnifications	Note 12. 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	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Note 13. Related Party Transactions Several of the current named executive officers of APAM and certain members of APAM’s board (or their affiliates) are limited partners of Holdings. As a result, certain transactions (such as TRA payments) between Artisan and the limited partners of Holdings are considered to be related party transactions with respect to these persons. Affiliate transactions—Artisan Funds Artisan has an agreement to serve as the investment adviser to Artisan Funds, with which certain 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 0.625% 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 0.88% to 1.50% ) of a 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 March 31, 2017 2016 Investment management fees: Artisan Funds $ 110,574 $ 111,175 Fee waiver / expense reimbursement: Artisan Funds $ 197 $ 133 Affiliate transactions—Artisan Global Funds Artisan has an agreement to serve as the investment manager to 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 1.75% . 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 $2.0 million and $1.8 million due from Artisan Global Funds as of March 31, 2017 and December 31, 2016 , respectively. Fees for managing Artisan Global Funds and amounts reimbursed to Artisan Global Funds by Artisan are as follows: For the Three Months Ended March 31, 2017 2016 Investment management fees: Artisan Global Funds $ 6,810 $ 3,625 Fee waiver / expense reimbursement: Artisan Global Funds $ 17 $ 88

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 14. Subsequent Events Distributions and dividends On April 26, 2017, APAM, acting as the general partner of Artisan Partners Holdings, declared a distribution by Artisan Partners Holdings of $37.7 million to holders of Artisan Partners Holdings partnership units, including APAM. On the same date, the board of directors of APAM declared a quarterly dividend of $0.60 per share of Class A common stock. The APAM dividend is payable on May 31, 2017, to shareholders of record as of May 17, 2017. On April 17, 2017, the Company made a payment of $22.8 million under the tax receivable agreements representing a portion of the Company’s estimated total 2017 payments.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
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. The consolidation guidance requires an analysis to determine if an entity should be evaluated for consolidation using the voting interest entity (“VOE”) model or the variable interest entity (“VIE”) model. Under the VOE model, controlling financial interest is generally defined as a majority ownership of voting interests. Under the VIE model, controlling financial interest is defined as (i) the power to direct activities that most significantly impact the economic performance of the entity and (ii) the right to receive potentially significant benefits or the obligation to absorb potentially significant losses. The consolidated financial statements include the accounts of APAM and all subsidiaries or other entities in which APAM has a direct or indirect controlling financial interest. All material intercompany balances have been eliminated in consolidation. Artisan serves as the investment adviser for Artisan Funds and Artisan Global Funds. 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. Each series of Artisan Funds is a VOE and is separately evaluated for consolidation under the VOE model. The shareholders of Artisan Global Funds lack simple majority liquidation rights, and as a result, Artisan Global Funds is evaluated for consolidation under the VIE model. From time to time, the Company makes investments in Artisan Funds and Artisan Global Funds, which are made on the same terms as are available to other investors. If the investment results in a controlling financial interest, APAM consolidates the fund, and the underlying individual securities are accounted for as trading securities. Investments in which the Company does not have a controlling financial interest are classified as available-for-sale investments. As of March 31, 2017 , APAM does not have a controlling financial interest in any sponsored investment portfolio or series of Artisan Funds or Artisan Global Funds and therefore does not consolidate these entities.
Recent accounting pronouncements	Recent accounting pronouncements Accounting standards not yet adopted In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , which supersedes existing accounting standards for revenue recognition and creates a single framework. The guidance also changes the accounting for certain costs to obtain or fulfill a contract. The new guidance will be effective on January 1, 2018, and allows for either a full retrospective or modified retrospective transition method. The Company is currently evaluating its transition method and the potential impact on the timing of performance fee revenue recognition and the potential capitalization of certain cash incentive compensation; however, based on current evaluations, the Company does not expect the adoption to have a material impact on its consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, which requires all equity investments to be measured at fair value with changes in the fair value recognized through net income. ASU 2016-01 will be effective on January 1, 2018 and will result in a cumulative-effect adjustment to the Company’s Consolidated Statements of Financial Condition upon adoption. Upon adoption, the Company’s unrealized gains (losses) on available-for-sale investment securities will be recognized through net income, which will be a change from the current treatment of recognition in other comprehensive income (loss). In February 2016, the FASB issued ASU 2016-02, Leases, which introduces a lessee model that brings most leases on the balance sheet. The new guidance will be effective on January 1, 2019 and will require a modified retrospective approach to adoption. Early adoption is permitted. The Company is currently evaluating the impact of adoption on its consolidated financial statements. The standard is expected to result in a significant increase in total assets and liabilities, but will not have a significant impact on the consolidated statement of operations.

Nature of Business and Organi24

Nature of Business and Organization (Tables)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Capital Units	The following partnership units were exchanged for APAM Class A common stock during the three months ended March 31, 2017 : Total Common Units Exchanged Class A Common Units Class B Common Units Class E Common Units Common units exchanged on March 6, 2017 206,770 — 206,770 —

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 Mutual funds $ 156 $ 57 $ — $ 213 December 31, 2016 Mutual funds $ 6,194 $ 103 $ — $ 6,297

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 : Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2017 Assets Cash equivalents $ 99,227 $ 99,227 $ — $ — Mutual funds 213 213 — — December 31, 2016 Assets Cash equivalents $ 64,170 $ 64,170 $ — $ — Mutual funds 6,297 6,297 — —

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of borrowings	Artisan’s borrowings consist of the following as of March 31, 2017 and December 31, 2016 : 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 March 31, 2017 , the aggregate maturities of debt obligations, based on their contractual terms, are as follows: 2017 $ 60,000 2018 — 2019 50,000 2020 — 2021 — Thereafter 90,000 Total $ 200,000

Noncontrolling interest - Hol28

Noncontrolling interest - Holdings (Tables)	3 Months Ended
	Mar. 31, 2017
Noncontrolling Interest [Abstract]
Schedule of Equity ownership Interests in Holdings	For the three months ended March 31, 2017 , APAM’s equity ownership interest in Holdings has increased as a result of the following transactions: Holdings GP Units Limited Partnership Units Total APAM Ownership % Balance at December 31, 2016 42,149,436 32,205,433 74,354,869 57 % 2017 Follow-On Offering 5,626,517 (5,626,517 ) — 7 % Holdings Common Unit Exchanges (1) 206,770 (206,770 ) — — % Issuance of APAM Restricted Shares 1,267,250 — 1,267,250 1 % Restricted Share Award Net Share Settlement (1) (31,014 ) — (31,014 ) — % Balance at March 31, 2017 49,218,959 26,372,146 75,591,105 65 % (1) The impact of the transaction on APAM’s ownership percentage was less than 1%.
Change in ownership	The reallocation of equity had the following impact on the Unaudited Condensed Consolidated Statements of Financial Condition: Statement of Financial Condition For the Three Months Ended March 31, 2017 2016 Additional paid-in capital $ (1,274 ) $ (286 ) Noncontrolling interest - Artisan Partners Holdings 1,510 320 Accumulated other comprehensive income (loss) (236 ) (34 ) Net impact to financial condition — —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity Note [Abstract]
Authorized and outstanding equity	As of March 31, 2017 and December 31, 2016 , APAM had the following authorized and outstanding equity: Outstanding Authorized March 31, 2017 December 31, 2016 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 49,218,959 42,149,436 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 12,830,762 15,142,049 5 votes per share None Class C, par value $0.01 per share 400,000,000 13,541,384 17,063,384 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 March 31, 2017, Artisan’s employees held 4,377,157 restricted shares of Class A common stock subject to the agreement and all 12,830,762 outstanding shares of Class B common stock.
Dividends Declared	APAM declared and paid the following dividends per share during the three months ended March 31, 2017 and 2016 : Type of Dividend Class of Stock For the Three Months Ended March 31, 2017 2016 Quarterly Class A Common $ 0.60 $ 0.60 Special Annual Class A Common $ 0.36 $ 0.40
Issuance (Cancellation) of Shares Disclosure	The following table summarizes APAM’s stock transactions for the three months ended March 31, 2017 : Total Stock Outstanding Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2016 74,354,869 42,149,436 15,142,049 17,063,384 2017 Follow-On Offering — 5,626,517 (2,104,517 ) (3,522,000 ) Holdings Common Unit Exchanges — 206,770 (206,770 ) — Restricted Share Award Grants 1,267,250 1,267,250 — — Restricted Share Award Net Share Settlement (31,014 ) (31,014 ) — — Balance at March 31, 2017 75,591,105 49,218,959 12,830,762 13,541,384 (1) There were 218,089 and 178,401 restricted stock units outstanding at March 31, 2017 and December 31, 2016, respectively. Restricted stock units are not reflected in the table because they are not considered outstanding or issued stock.
Distributions Made to Limited Partner, by Distribution	Holdings’ partnership distributions for the three months ended March 31, 2017 and 2016 , were as follows: For the Three Months Ended March 31, 2017 2016 Holdings Partnership Distributions to Limited Partners $ 16,530 $ 19,329 Holdings Partnership Distributions to APAM 21,633 22,433 Total Holdings Partnership Distributions $ 38,163 $ 41,762

Compensation and Benefits (Tabl

Compensation and Benefits (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Salaries, incentive compensation and benefits (1) $ 81,482 $ 77,096 Restricted share-based award compensation expense 11,767 10,384 Total salaries, incentive compensation and benefits 93,249 87,480 Pre-offering related compensation - share-based awards 6,339 7,819 Total compensation and benefits $ 99,588 $ 95,299 (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 three months ended March 31, 2017 : Weighted-Average Grant Date Fair Value Number of Awards Unvested at January 1, 2017 $ 44.47 3,394,910 Granted $ 28.30 1,268,500 Forfeited — — Vested $ 36.48 (184,378 ) Unvested at March 31, 2017 $ 40.22 4,479,032
Class B Award Activity	The following table summarizes the activity related to unvested Class B awards for the three months ended March 31, 2017 : Weighted-Average Grant Date Fair Value Number of Class B Awards Unvested Class B awards at January 1, 2017 $ 30.00 845,220 Granted — — Forfeited — — Vested — — Unvested Class B awards at March 31, 2017 $ 30.00 845,220

Income Taxes and Related Paym31

Income Taxes and Related Payments (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Current: Federal $ 2,623 $ 2,670 State and local 361 544 Foreign 108 185 Total 3,092 3,399 Deferred: Federal 9,135 7,679 State and local 522 439 Total 9,657 8,118 Income tax expense $ 12,749 $ 11,517
Schedule of Other Assets and Other Liabilities [Table Text Block]	The change in the Company’s deferred tax assets related to the tax benefits described above and the change in corresponding amounts payable under the TRAs for the three months ended March 31, 2017 is summarized as follows: Amounts payable under tax receivable agreements Deferred Tax Asset - Amortizable basis December 31, 2016 $ 586,246 $ 653,942 2017 Follow-On Offering 96,406 113,419 2017 Holdings Common Unit Exchanges 2,783 3,274 Amortization — (10,210 ) March 31, 2017 $ 685,435 $ 760,425
Components of deferred tax assets	Net deferred tax assets comprise the following: As of March 31, 2017 As of December 31, 2016 Deferred tax assets: Amortizable basis (1) $ 760,425 $ 653,942 Other (2) 27,618 24,576 Total deferred tax assets 788,043 678,518 Less: valuation allowance (3) — — Net deferred tax assets $ 788,043 $ 678,518 (1) Represents the unamortized step-up of tax basis and other tax attributes from the merger and partnership unit sales and exchanges described above. These future tax benefits are subject to the TRA agreements. (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 Comprehensi32

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 As of December 31, 2016 Unrealized gain on investments, net of tax $ 24 $ 37 Foreign currency translation gain (loss) (1,800 ) (1,685 ) Accumulated Other Comprehensive Income (Loss) $ (1,776 ) $ (1,648 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
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 months ended March 31, 2017 and 2016 were as follows: For the Three Months Ended March 31, Basic and Diluted Earnings Per Share 2017 2016 Numerator: Net income attributable to APAM $ 19,795 $ 16,261 Less: Allocation to participating securities 4,426 3,162 Net income available to common stockholders $ 15,369 $ 13,099 Denominator: Weighted average shares outstanding 41,019,598 36,970,950 Earnings per share $ 0.37 $ 0.35
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 March 31, Anti-Dilutive Weighted Average Shares Outstanding 2017 2016 Holdings limited partnership units 30,218,943 33,740,947 Unvested restricted share-based awards 3,912,879 3,371,803 Total 34,131,822 37,112,750

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 2016 Investment management fees: Artisan Funds $ 110,574 $ 111,175 Fee waiver / expense reimbursement: Artisan Funds $ 197 $ 133
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 March 31, 2017 2016 Investment management fees: Artisan Global Funds $ 6,810 $ 3,625 Fee waiver / expense reimbursement: Artisan Global Funds $ 17 $ 88

Nature of Business and Organi35

Nature of Business and Organization (Details) - $ / shares	Mar. 06, 2017	Mar. 31, 2017	Feb. 28, 2017	Dec. 31, 2016
Class of Stock [Line Items]
APAM economic interest in Artisan Partners Holdings LP (as a percent)		65.00%		57.00%
Conversion of Stock, Shares Converted	206,770
Class A Common Stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		(5,626,517)
Class A Common Units
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	0
Class B Common Units
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	206,770
Class E Common Units
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	0
Follow On Offering [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		0
Follow On Offering [Member] | Capital Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		(5,626,517)
Common unit, price per unit (in dollars per share)			$ 28.88

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Cost	$ 156	$ 6,194
Unrealized Gains	57	103
Unrealized Losses	0	0
Fair Value	$ 213	$ 6,297

Investment Securities Other Inf

Investment Securities Other Information (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 0	$ 0
Available-for-sale Securities, Unrealized Losses	0	0
Available-for-sale Securities, Impairment Losses	$ 0	$ 0

Fair Value Measurements - Fair

Fair Value Measurements - Fair value hierarchy of assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 99,227	$ 64,170
Mutual funds	213	6,297
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	99,227	64,170
Mutual funds	213	6,297
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	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Outstanding Balance	$ 200,000	$ 200,000
Senior notes | Series A
Debt Instrument [Line Items]
Outstanding Balance	$ 60,000	$ 60,000
Interest rate per annum	4.98%	4.98%
Senior notes | Series B
Debt Instrument [Line Items]
Outstanding Balance	$ 50,000	$ 50,000
Interest rate per annum	5.32%	5.32%
Senior notes | Series C
Debt Instrument [Line Items]
Outstanding Balance	$ 90,000	$ 90,000
Interest rate per annum	5.82%	5.82%
Revolving credit agreement
Debt Instrument [Line Items]
Outstanding Balance	$ 0	$ 0

Borrowings - Aggregate Maturiti

Borrowings - Aggregate Maturities of Debt Obligations (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Debt Disclosure [Abstract]
2,017	$ 60,000
2,018	0
2,019	50,000
2,020	0
2,021	0
Thereafter	90,000
Borrowings	$ 200,000	$ 200,000

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Debt Instrument [Line Items]
Interest expense incurred on debt and credit facilities	$ 2.8	$ 2.8
Level 2
Debt Instrument [Line Items]
Borrowings fair value	$ 202.6

Noncontrolling interest - Hol42

Noncontrolling interest - Holdings Share Issuances & Cancellations (Details)	3 Months Ended
	Mar. 31, 2017shares
Class of Stock [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	57.00%
Restricted Share Award Net Share Settlement	(31,014)
Noncontrolling Interest, Ownership Percentage by Parent	65.00%
General Partnership Units
Class of Stock [Line Items]
Capital Units, Outstanding	42,149,436
Holdings of Common Unit Exchanges (in shares)	206,770
Restricted Share Award Net Share Settlement	(31,014)
Capital Units, Outstanding	49,218,959
Limited Partnership Units
Class of Stock [Line Items]
Capital Units, Outstanding	32,205,433
Holdings of Common Unit Exchanges (in shares)	(206,770)
Restricted Share Award Net Share Settlement	0
Capital Units, Outstanding	26,372,146
Capital Units
Class of Stock [Line Items]
Units of Partnership Interest, Amount	74,354,869
Change in APAM Economic Ownership Interest in Artisan Partners Holdings LP (as a percent)	0.00%
Holdings of Common Unit Exchanges (in shares)	0
Holdings of Common Unit Exchanges, APAM Ownership Percentage	0.00%
Restricted Share Award Net Share Settlement	(31,014)
Units of Partnership Interest, Amount	75,591,105
Restricted Stock
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	1,267,250
Restricted Stock | General Partnership Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	1,267,250
Restricted Stock | Limited Partnership Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	0
Restricted Stock | Capital Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	1,267,250
Change in APAM Economic Ownership Interest in Artisan Partners Holdings LP (as a percent)	1.00%
Follow On Offering [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	0
Follow On Offering [Member] | General Partnership Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	5,626,517
Follow On Offering [Member] | Limited Partnership Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	(5,626,517)
Follow On Offering [Member] | Capital Units
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues	5,626,517
Change in APAM Economic Ownership Interest in Artisan Partners Holdings LP (as a percent)	7.00%

Noncontrolling interest - Hol43

Noncontrolling interest - Holdings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Noncontrolling Interest [Line Items]
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	(1,274)	(286)
Noncontrolling Interest
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	1,510	320
Accumulated Other Comprehensive Income
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	(237)	(35)
Cumulative Impact of Changes in Ownership, Gross	(236)	(34)
Deferred Tax Assets
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	(1)	(1)
Deferred Tax Assets | Additional Paid-in Capital
Noncontrolling Interest [Line Items]
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	$ (2,500)	$ 2,300

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended
	Mar. 31, 2017votes$ / sharesshares	Mar. 31, 2016$ / shares	Dec. 31, 2016$ / sharesshares
Class of Stock [Line Items]
Common stock, shares outstanding	75,591,105		74,354,869
Dividends declared per Class A common share | $ / shares	$ 0.96	$ 1
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000		500,000,000
Common stock, shares outstanding	49,218,959		42,149,436
Common stock votes per share | votes	1
Common stock, par value per share | $ / shares	$ 0.01		$ 0.01
Class B Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	200,000,000		200,000,000
Common stock, shares outstanding	12,830,762		15,142,049
Common stock votes per share | votes	5
Common stock, par value per share | $ / shares	$ 0.01		$ 0.01
Class C Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	400,000,000		400,000,000
Common stock, shares outstanding	13,541,384		17,063,384
Common stock votes per share | votes	1
Common stock, par value per share | $ / shares	$ 0.01		$ 0.01
Restricted Stock
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	4,479,032		3,394,910
Restricted Stock | General Partnership Units
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number	4,377,157
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	218,089		178,401
Quarterly Cash Dividend
Class of Stock [Line Items]
Dividends declared per Class A common share | $ / shares	$ 0.60	0.60
Special Annual Dividend
Class of Stock [Line Items]
Dividends declared per Class A common share | $ / shares	$ 0.36	$ 0.40

Stockholders' Equity Dividends

Stockholders' Equity Dividends Declared (Details) - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Dividends Payable [Line Items]
Class A Common Stock, Cash Dividends Paid	$ 0.96	$ 1
Quarterly Cash Dividend
Dividends Payable [Line Items]
Class A Common Stock, Cash Dividends Paid	0.60	0.60
Special Annual Dividend
Dividends Payable [Line Items]
Class A Common Stock, Cash Dividends Paid	$ 0.36	$ 0.40

Stockholders' Equity - Share Ac

Stockholders' Equity - Share Activity by Class of Stock (Details) - shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Common stock, shares outstanding	75,591,105	74,354,869
Shares Paid for Tax Withholding for Share Based Compensation	(31,014)
Class A Common Stock
Common stock, shares outstanding	49,218,959	42,149,436
Stock Issued During Period, Shares, New Issues	5,626,517
Shares Paid for Tax Withholding for Share Based Compensation	(31,014)
General Partnership Units
Shares Paid for Tax Withholding for Share Based Compensation	(31,014)
Common Class B [Member]
Common stock, shares outstanding	12,830,762	15,142,049
Stock Issued During Period, Shares, New Issues	(2,104,517)
Class C Common Stock
Common stock, shares outstanding	13,541,384	17,063,384
Stock Issued During Period, Shares, New Issues	(3,522,000)
Common Stock | Class A Common Stock
Stock Repurchased and Retired During Period, Shares	206,770
Common Stock | Common Class B [Member]
Stock Repurchased and Retired During Period, Shares	206,770
Common Stock | Class C Common Stock
Stock Repurchased and Retired During Period, Shares	0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period	0
Stock Issued During Period, Shares, New Issues	1,267,250
Restricted Stock | Class A Common Stock
Stock Issued During Period, Shares, New Issues	1,267,250
Restricted Stock | General Partnership Units
Stock Issued During Period, Shares, New Issues	1,267,250
Restricted Stock | Common Class B [Member]
Stock Repurchased and Retired During Period, Shares	0
Restricted Stock | Class C Common Stock
Stock Repurchased and Retired During Period, Shares	0
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number	218,089	178,401

Stockholders' Equity - Distribu

Stockholders' Equity - Distributions (Details) - Artisan Partners Holdings LP - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Distribution Made to Limited Partner [Line Items]
Holdings Partnership Distributions to Limited Partners	$ 16,530	$ 19,329
Holdings Partnership Distributions to APAM	21,633	22,433
Total Holdings Partnership Distributions	$ 38,163	$ 41,762

Compensation and Benefits - Com

Compensation and Benefits - Components of expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salaries, incentive compensation and benefits	$ 81,482	$ 77,096
Restricted share-based award compensation expense	18,830	18,917
Total salaries, incentive compensation and benefits	93,249	87,480
Pre-offering related compensation - share-based awards	6,339	7,819
Total compensation and benefits	99,588	95,299
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share-based award compensation expense	$ 11,767	$ 10,384

Compensation and Benefits - Res

Compensation and Benefits - Restricted Share Activity (Details) - Restricted Stock - $ / shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested - Number of Awards, beginning	3,394,910
Granted - Number of Awards	1,268,500
Forfeited - Number of Awards	0
Vested - Number of Awards	(184,378)
Unvested - Number of Awards, ending	4,479,032
Unvested - Weighted Average Grant Date Fair Value	$ 40.22	$ 44.47
Granted - Weighted Average Grant Date Fair Value	28.30
Forfeited - Weighted Average Grant Date Fair Value	0
Vested - Weighted Average Grant Date Fair Value	$ 36.48

Compensation and Benefits - Pre

Compensation and Benefits - Pre-Offering Related Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-offering related compensation - share-based awards	$ 6,339	$ 7,819

Compensation and Benefits - Cla

Compensation and Benefits - Class B Awards Activity (Details) - Class B Liability Awards - $ / shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Unvested - Number of Awards, beginning	845,220
Granted - Number of Awards	0
Forfeited - Number of Awards	0
Vested - Number of Awards	0
Unvested - Number of Awards, ending	845,220
Unvested - Weighted Average Grant Date Fair Value	$ 30	$ 30
Granted - Weighted Average Grant Date Fair Value	0
Forfeited - Weighted Average Grant Date Fair Value	0
Vested - Weighted Average Grant Date Fair Value	$ 0

Compensation and Benefits - Add

Compensation and Benefits - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Feb. 16, 2017
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
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	7,995,090
Restricted share-based award compensation expense	$ 18,830	$ 18,917
Shares Paid for Tax Withholding for Share Based Compensation	31,014
Taxes paid related to employee net share settlement	$ (930)	(334)
Class B liability awards	$ (506)	(574)
Restricted Stock
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	1,267,250
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	1,268,500
Restricted share-based award compensation expense	$ 11,767	$ 10,384
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 135,200		$ 35,900
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 years 5 months 1 day
Restricted Stock Units (RSUs)
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	1,250
Class B Liability Awards
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	$ 6,300
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	3 months
Redemption period for terminated employees	5 years

Income Taxes and Related Paym53

Income Taxes and Related Payments - Components of provision for income taxes (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Income Tax Expense (Benefit), Continuing Operations [Abstract]
Unrecognized Tax Benefits	$ 0		$ 0
Current:
Federal	2,623,000	$ 2,670,000
State and local	361,000	544,000
Foreign	108,000	185,000
Total	3,092,000	3,399,000
Deferred:
Federal	9,135,000	7,679,000
State and local	522,000	439,000
Total	9,657,000	8,118,000
Income tax expense	$ 12,749,000	$ 11,517,000

Income Taxes and Related Paym54

Income Taxes and Related Payments - Components of deferred tax assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Unrecognized Tax Benefits	$ 0		$ 0
Establishment of amounts payable under tax receivable agreements	99,189,000	$ 12,190,000
Deferred Tax Assets, Exchanges	3,274,000
Deferred tax assets:
Amortizable basis	760,425,000		653,942,000
Other	27,618,000		24,576,000
Total deferred tax assets	788,043,000		678,518,000
Less: valuation allowance	0		0
Deferred tax assets	788,043,000		$ 678,518,000
Follow On Offering [Member]
Establishment of amounts payable under tax receivable agreements	96,406,000
Deferred Tax Assets, Exchanges	113,419,000
Capital Unit, Class [Domain]
Establishment of amounts payable under tax receivable agreements	$ 2,783,000

Income Taxes and Related Paym55

Income Taxes and Related Payments - Additional information (Details)	3 Months Ended
	Mar. 31, 2017USD ($)TRA	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)
Unrecognized Tax Benefits	$ 0		$ 0
Deferred tax assets	$ 788,043,000		$ 678,518,000
Statutory Tax Rate	35.00%
Approximate percentage of earnings not subject to income taxes	39.00%
Number of tax receivable agreements (TRAs) | TRA	2
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
Tax Receivable Agreements [Roll Forward]
Amounts payable under tax receivable, beginning agreements	$ 586,246,000
Non cash Transaction Initial Establishment of Amounts Payable Under Tax Receivable Agreements	99,189,000	$ 12,190,000
Amounts payable under tax receivable, ending agreements	685,435,000
Deferred Tax Asset [Roll Forward]
Deferred tax assets, beginning	653,942,000
Deferred Tax Assets, Exchanges	3,274,000
Amortization	(10,210,000)
Deferred tax assets, ending	760,425,000
Follow On Offering [Member]
Tax Receivable Agreements [Roll Forward]
Non cash Transaction Initial Establishment of Amounts Payable Under Tax Receivable Agreements	96,406,000
Deferred Tax Asset [Roll Forward]
Deferred Tax Assets, Exchanges	113,419,000
Capital Unit, Class [Domain]
Tax Receivable Agreements [Roll Forward]
Non cash Transaction Initial Establishment of Amounts Payable Under Tax Receivable Agreements	$ 2,783,000
LIBOR
Tax receivable, basis point spread on variable rate (as a percent)	100.00%

Income Taxes and Related Paym56

Income Taxes and Related Payments Income Tax Uncertainties (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	$ 0	$ 0

Accumulated Other Comprehensi57

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax	$ 24	$ 37
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	(1,800)	(1,685)
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (1,776)	$ (1,648)

Earnings Per Share - Computatio

Earnings Per Share - Computation of basic and diluted net income per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income attributable to APAM	$ 19,795	$ 16,261
Less: Allocation to participating securities	4,426	3,162
Net income available to common stockholders	$ 15,369	$ 13,099
Weighted average shares outstanding	41,019,598	36,970,950
Earnings per share	$ 0.37	$ 0.35

Earnings Per Share - Antidiluti

Earnings Per Share - Antidilutive securities excluded from the computation of net income per share (Details) - shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	34,131,822	37,112,750
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	30,218,943	33,740,947
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	3,912,879	3,371,803

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Artisan Funds
Related Party Transaction [Line Items]
Investment management fees	$ 110,574	$ 111,175
Fee waiver / expense reimbursement	$ 197	133
Artisan Funds | Minimum
Related Party Transaction [Line Items]
Annualized operating expenses maximum percentage of average daily net assets	0.88%
Management fee percentage of average daily net assets	0.625%
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	$ 6,810	3,625
Fee waiver / expense reimbursement	17	$ 88
Due from related parties	$ 2,000		$ 1,800
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	1.75%
Management fee threshold for reimbursement, percentage average daily net assets	0.20%

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Apr. 26, 2017	Apr. 17, 2017
Subsequent Event [Line Items]
Distribution Made to Limited Partner, Cash Distributions Declared	$ 37.7
Payments Of Tax Receivable Agreement		$ 22.8
Quarterly Cash Dividend | Class A Common Stock
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.60