Artisan Partners Asset Management (APAM) 10-Q 2 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2018	Apr. 27, 2018
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, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		53,936,262
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		8,802,249
Class C Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		14,249,130

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 200,831	$ 137,286
Accounts receivable	74,758	76,693
Investment securities	5,298	4,978
Property and equipment, net	20,262	21,025
Deferred tax assets	440,383	429,212
Restricted cash	629	629
Prepaid expenses and other assets	12,295	13,364
Cash and cash equivalents of consolidated investment products	44,783	21,881
Assets of consolidated investment products, Accounts receivable and other	35,367	16,768
Assets of consolidated investment products, Investment assets, at fair value	119,577	115,319
Total assets	954,183	837,155
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY
Accounts payable, accrued expenses, and other	24,515	23,019
Accrued incentive compensation	68,490	2,911
Borrowings	199,171	199,129
Amounts payable under tax receivable agreements	400,467	385,413
Liabilities of consolidated investment products, Accounts payable, accrued expenses, and other	27,213	8,180
Liabilities of consolidated investment products, Investment liabilities, at fair value	53,755	47,857
Total liabilities	773,611	666,509
Commitments and contingencies
Redeemable noncontrolling interests	81,652	62,581
Additional paid-in capital	89,001	147,910
Retained earnings (deficit)	4,040	(37,870)
Accumulated other comprehensive income (loss)	(739)	(873)
Total Artisan Partners Asset Management Inc. stockholders’ equity	93,072	109,923
Noncontrolling interest - Artisan Partners Holdings	5,848	(1,858)
Total stockholders’ equity	98,920	108,065
Total liabilities, redeemable noncontrolling interests, and stockholders’ equity	954,183	837,155
Class A Common Stock
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY
Common stock	535	505
Class B Common Stock
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY
Common stock	97	119
Class C Common Stock
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS, AND STOCKHOLDERS' EQUITY
Common stock	$ 138	$ 132

Unaudited Consolidated Stateme3

Unaudited Consolidated Statements of Financial Condition (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Common stock, shares outstanding	76,987,641	75,569,845
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	53,483,634	50,463,126
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	9,707,506	11,922,192
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	13,796,501	13,184,527

Unaudited Consolidated Stateme4

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues
Management fees	$ 211,966	$ 184,074
Performance fees	42	0
Total revenues	212,008	184,074
Compensation and benefits
Salaries, incentive compensation and benefits	105,224	93,249
Pre-offering related compensation - share-based awards	0	6,339
Total compensation and benefits	105,224	99,588
Distribution, servicing and marketing	7,009	7,374
Occupancy	3,925	3,506
Communication and technology	8,660	8,423
General and administrative	7,204	7,151
Total operating expenses	132,022	126,042
Total operating income	79,986	58,032
Non-operating income (loss)
Interest expense	(2,776)	(2,881)
Net investment gain (loss) of consolidated investment products	6,285	0
Net investment income	321	93
Other non-operating income (expense)	133	60
Total non-operating income (loss)	3,963	(2,728)
Income before income taxes	83,949	55,304
Provision for income taxes	12,285	12,749
Net income before noncontrolling interests	71,664	42,555
Less: Net income attributable to noncontrolling interests - Artisan Partners Holdings	26,052	22,760
Less: Net income attributable to noncontrolling interests - consolidated investment products	4,338	0
Net income attributable to Artisan Partners Asset Management Inc.	$ 41,274	$ 19,795
Earnings (loss) per share
Basic and diluted earnings per share	$ 0.75	$ 0.37
Weighted average number of common shares outstanding
Basic and diluted weighted average number of common shares outstanding (in shares)	47,360,438	41,019,598
Dividends declared per Class A common share (in dollars per share)	$ 1.39	$ 0.96

Unaudited Consolidated Stateme5

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income before noncontrolling interests	$ 71,664	$ 42,555
Unrealized gain (loss) on investment securities:
Unrealized gain (loss) on investment securities, net of tax of $0 and ($8), respectively	0	56
Less: reclassification adjustment for gain (loss) included in net income	0	93
Net unrealized gain (loss) on investment securities	0	(37)
Foreign currency translation gain (loss)	632	206
Total other comprehensive income (loss)	632	169
Comprehensive income	72,296	42,724
Comprehensive income attributable to noncontrolling interests - Artisan Partners Holdings	26,291	23,058
Comprehensive income attributable to noncontrolling interests - consolidated investment products	4,338	0
Comprehensive income attributable to Artisan Partners Asset Management Inc.	$ 41,667	$ 19,666

Unaudited Consolidated Stateme6

Unaudited Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Tax on unrealized gain (loss) on investment securities	$ 0	$ (8)

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 (Loss)	Noncontrolling Interest - Artisan Partners Holdings
Balance at beginning of period at Dec. 31, 2016	$ 117,714	$ 421	$ 151	$ 171	$ 119,221	$ 13,395	$ (1,648)	$ (13,997)
Net income before noncontrolling interests	42,555					19,795		22,760
Less: Net income attributable to noncontrolling interests - consolidated investment products	0
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	(1)				(1,274)		(237)	1,510
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			162,024
Issuance of restricted stock awards	0	13			(13)
Employee net share settlement	(930)				(530)			(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
Redeemable non-controlling interest	62,581
Balance at beginning of period at Dec. 31, 2017	108,065	505	119	132	147,910	(37,870)	(873)	(1,858)
Net income before noncontrolling interests	71,664					41,274		26,052
Net Income (Loss), Including Portion Attributable to Nonredeemable Noncontrolling Interest	67,326
Less: Net income attributable to noncontrolling interests - consolidated investment products	4,338
Other comprehensive income - foreign currency translation	632						429	203
Other comprehensive income - available for sale investments, net of tax	98					358	(260)	0
Cumulative impact of changes in ownership of Artisan Partners Holdings LP, net of tax	0				(383)		(35)	418
Amortization of equity-based compensation	14,400				10,043			4,357
Deferred tax assets, net of amounts payable under tax receivable agreements	3,271				3,271
Issuance of Class A common stock, net of issuance costs	21,299	6			21,293
Forfeitures	0
Issuance of restricted stock awards	0	15			(15)
Employee net share settlement	(1,805)	(1)			(1,210)			(594)
Exchange of subsidiary equity	0	10	(5)	(5)
Purchase of equity and subsidiary equity	(21,478)		(6)	0	(21,472)
Capital contributions	14,733
Distributions	(22,683)							(22,683)
Dividends	(70,205)				(70,436)	278		(47)
Balance at end of period at Mar. 31, 2018	98,920	$ 535	$ 97	$ 138	$ 89,001	$ 4,040	$ (739)	$ 5,848
Redeemable non-controlling interest	$ 81,652

Unaudited Consolidated Stateme8

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net income before noncontrolling interests	$ 71,664	$ 42,555
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,265	1,257
Deferred income taxes	7,252	9,657
Net investment income	(321)	(93)
Loss on disposal of property and equipment	5	14
Amortization of debt issuance costs	114	112
Share-based compensation	14,400	18,830
Net investment (gain) loss of consolidated investment products	(6,285)	0
Purchase of investments by consolidated investment products	(332,365)	0
Proceeds from sale of investments by consolidated investment products	339,686	0
Change in assets and liabilities resulting in an increase (decrease) in cash:
Accounts receivable	1,935	(3,661)
Prepaid expenses and other assets	1,643	1,589
Accounts payable and accrued expenses	67,318	47,763
Class B liability awards	0	(506)
Deferred lease obligations	(25)	1,479
Net change in operating assets and liabilities of consolidated investment products	1,038	0
Net cash provided by operating activities	167,324	118,996
Cash flows from investing activities
Acquisition of property and equipment	(301)	(353)
Leasehold improvements	(528)	(1,138)
Proceeds from sale of investment securities	0	6,382
Purchase of investment securities	0	(250)
Net cash provided by (used in) investing activities	(829)	4,641
Cash flows from financing activities
Partnership distributions	(22,683)	(16,530)
Dividends paid	(70,205)	(40,672)
Net proceeds from issuance of common stock	21,478	162,494
Payment of costs directly associated with the issuance of Class A common stock	(88)	(100)
Purchase of equity and subsidiary equity	(21,478)	(162,494)
Taxes paid related to employee net share settlement	(1,805)	(930)
Capital contributions to consolidated investment products	14,733	0
Net cash used in financing activities	(80,048)	(58,232)
Net increase (decrease) in cash and cash equivalents	86,447	65,405
Cash, cash equivalents and restricted cash
Beginning of period	159,796	157,406
End of period	246,243	222,811
Cash, cash equivalents and restricted cash as of the end of the period
Cash and cash equivalents	200,831	222,182
Restricted cash	629	629
Cash and cash equivalents of consolidated investment products	44,783	0
Noncash activity:
Establishment of deferred tax assets	18,325	119,175
Establishment of amounts payable under tax receivable agreements	$ 15,054	$ 99,189

Nature of Business and Organiza

Nature of Business and Organization	3 Months Ended
	Mar. 31, 2018
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, 2018 , APAM held approximately 69% 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. 2018 Follow-On Offering On February 27, 2018 , APAM completed a registered offering of 644,424 shares of Class A common stock (the “2018 Follow-On Offering”) and utilized all of the proceeds to purchase an aggregate of 644,424 common units of Artisan Partners Holdings at a price per unit of $33.33 . The offering and subsequent purchase of units had the following impact on the consolidated financial statements: • APAM received 644,424 GP units of Holdings, which increased APAM’s ownership interest in Holdings. See Note 7, “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 11, “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 from time to time (the “Holdings Common Unit Exchanges”). The following partnership units were exchanged for APAM Class A common stock during the three months ended March 31, 2018 : Total Common Units Exchanged Class A Common Units Class B Common Units Class E Common Units Common units exchanged on March 1, 2018 958,288 499,222 449,066 10,000 The corresponding shares of APAM Class B and Class C 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 11, “Income Taxes and Related Payments” .

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
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. Artisan generally consolidates VIEs in which it meets the power criteria and holds an equity ownership interest of greater than 10%. 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 to Artisan Funds, Artisan Global Funds and other investment products, including Artisan sponsored private 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 voting rights, including rights 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, each sub-fund of Artisan Global Funds is evaluated for consolidation under the VIE model. Artisan sponsored privately offered funds are also evaluated for consolidation under the VIE model because third-party equity holders of the funds generally lack the ability to divest Artisan of its control of the funds. From time to time, the Company makes investments in Artisan Funds, Artisan Global Funds, and Artisan sponsored private funds. If the investment results in a controlling financial interest, APAM consolidates the fund, and the underlying activity of the entire fund is included in Artisan’s Consolidated Financial Statements. As of March 31, 2018 , Artisan has a controlling financial interest in two sub-funds of Artisan Global Funds and certain privately offered funds and, as a result, these funds are included in Artisan’s Consolidated Financial Statements. Because these consolidated investment products meet the definition of investment companies under U.S. GAAP, Artisan has retained the specialized industry accounting principles for investment companies in its Consolidated Financial Statements. See Note 6, “Variable Interest Entities and Consolidated Investment Products” for additional details. Recent accounting pronouncements Accounting standards adopted as of January 1, 2018 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 Company adopted ASU 2014-09 as of January 1, 2018, utilizing the modified retrospective method. There was no cumulative effect adjustment of applying the new revenue standard and the comparative information has not been restated. There are no significant differences between the reported results under the revenue standard and what would have been reported under the previous revenue guidance, other than the disclosures included in Note 9, ”Revenue From Contracts with Customers” . The Company expects the impact of adopting the new revenue standard to be immaterial to its results on an ongoing basis. The application of ASU 2014-09 had no impact on the Consolidated Statement of Financial Condition as of March 31, 2018, as compared to the previous revenue recognition standard. The application of the new principal versus agent guidance resulted in presentation changes whereby certain costs are now reported on a gross basis, when the Company is acting as principal, and reported on a net basis, when the Company is acting as an agent. The new standard requires the entire amount of fee waivers and expense reimbursements to be presented net against revenue, which resulted in an $11 thousand decrease in management fee revenue and a corresponding $11 thousand decrease in general and administrative expenses within the Consolidated Statements of Operations for the three months ended March 31, 2018. Applying ASU 2014-09 had no impact to operating income or net income, as compared to applying the previous revenue recognition standard. Artisan did not apply any of the practical expedients in ASU 2014-09. 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. The Company adopted ASU 2016-01 as of January 1, 2018, utilizing the modified retrospective method. Upon adoption, the Company made a cumulative-effect adjustment to the Company’s Consolidated Statements of Financial Condition, which resulted in a $0.4 million decrease to accumulated other comprehensive income (loss) and a corresponding $0.4 million increase to retained earnings (deficit). The application of ASU 2016-01 results in the recognition of the Company’s unrealized gains (losses) on investment securities through net income. The Company recognized $0.3 million of unrealized gains in net income for the three months ended March 31, 2018. In November 2016, the FASB issued ASU 2016-18, Restricted Cash , to clarify guidance on the classification and presentation of restricted cash in the statement of cash flows. Restricted cash and restricted cash equivalents, including cash of consolidated investment products, is required to be included in cash and cash-equivalent balances in the statement of cash flows. The guidance is effective as of January 1, 2018, and requires retrospective application to all periods presented. The Consolidated Statements of Cash Flows includes a reconciliation to the line items on the Consolidated Statements of Financial Condition. Accounting standards not yet adopted 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 total liabilities, but will not have a significant impact on the Consolidated Statements of Operations.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Note 3. Investment Securities The disclosures below include details of Artisan’s investments, excluding money market funds and consolidated investment products. Investments held by consolidated investment products are described in Note 6, “Variable Interest Entities and Consolidated Investment Products” . Artisan’s investment securities as of December 31, 2017 consisted of the following: Cost Unrealized Unrealized Fair Value December 31, 2017 Mutual funds $ 4,361 $ 617 $ — $ 4,978 Artisan’s investments in mutual funds consist of investments in shares of Artisan Funds and Artisan Global Funds. As of January 1, 2018, the Company adopted ASU 2016-01, which requires all equity investments to be measured at fair value with changes in the fair value recognized through net income. As a result, the Company made a cumulative-effect adjustment to reclassify $0.4 million of unrealized gains attributable to APAM from accumulated other comprehensive income (loss) to retained earnings (deficit). The remaining $0.2 million of unrealized gains as of January 1, 2018 were attributable to noncontrolling interests. Effective January 1, 2018, unrealized gains and losses are recorded to net investment income in the statement of operations. The table below presents the Company’s unrealized gains and losses for the specified period that relate to investment securities held as of March 31, 2018. For the three months ended March 31, 2018 Net gains (losses) recognized on investment securities $ 321 Less: Net realized gains (losses) recognized on investment securities sold during the period $ — Unrealized gains (losses) recognized on investment securities held as of the end of the period $ 321

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2018
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. The financial instruments held by consolidated investment products are excluded from the table below and are presented in Note 6, “Variable Interest Entities and Consolidated Investment Products” . 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, 2018 and December 31, 2017 : Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2018 Assets Money market funds $ 68,823 $ 68,823 $ — $ — Mutual funds 5,298 5,298 — — December 31, 2017 Assets Money market funds $ 26,727 $ 26,727 $ — $ — Mutual funds 4,978 4,978 — — Fair values determined based on Level 1 inputs utilize quoted market prices for identical assets. Level 1 assets generally consist of money market funds, open-end mutual funds and UCITS funds. Cash maintained in demand deposit accounts is excluded from the table above. 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, 2018 and 2017 .

Borrowings

Borrowings	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Borrowings	Note 5. Borrowings Artisan’s borrowings consist of the following as of March 31, 2018 and December 31, 2017 : Maturity Outstanding Balance Interest Rate Per Annum Revolving credit agreement August 2022 $ — NA Senior notes Series B August 2019 50,000 5.32 % Series C August 2022 90,000 5.82 % Series D August 2025 60,000 4.29 % Total borrowings $ 200,000 The fair value of borrowings was approximately $204.9 million as of March 31, 2018 . 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 $2.7 million and $2.8 million for the three months ended March 31, 2018 and 2017 , respectively. As of March 31, 2018 , the aggregate maturities of debt obligations, based on their contractual terms, are as follows: 2018 $ — 2019 50,000 2020 — 2021 — 2022 90,000 Thereafter 60,000 Total $ 200,000

Variable Interest Entities and

Variable Interest Entities and Consolidated Investment Products	3 Months Ended
	Mar. 31, 2018
Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Variable Interest Entities and Consolidated Investment Products	The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of March 31, 2018 and December 31, 2017 . Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2018 Assets Money market funds $ 39,750 $ 39,750 $ — $ — Equity securities - long position 75,743 74,394 1,349 — Fixed income instruments - long position 41,808 — 41,808 — Derivative assets 1,961 721 1,240 — Liabilities Equity securities - short position $ 35,444 $ 35,444 $ — $ — Fixed income instruments - short position 17,909 — 17,909 — Derivative liabilities 402 94 308 — Note 6. Variable Interest Entities and Consolidated Investment Products Artisan serves as the investment adviser for various types of investment products, consisting of both VIEs and VOEs. Artisan consolidates an investment product if it has a controlling financial interest in the entity. Any such entities are collectively referred to herein as consolidated investment products or CIPs. As of March 31, 2018 , Artisan is considered to be the primary beneficiary of two sub-funds of Artisan Global Funds and certain Artisan sponsored private funds related to two investment strategies for which it serves as investment manager. As of March 31, 2018, Artisan’s direct equity investment in the consolidated investment products was $37.1 million . Artisan’s maximum exposure to loss in connection with the assets and liabilities of CIPs is limited to its direct equity investment, while the potential benefit is limited to the management fee and incentive allocation received and the return on its equity investment. With the exception of Artisan’s direct equity investment, the assets of CIPs are not available to Artisan’s creditors, nor are they available to Artisan for general corporate purposes. In addition, third-party investors in the CIPs have no recourse to the general credit of the Company. Artisan earned management fees of $45 thousand from CIPs during the three months ended March 31, 2018. No management fees were earned from CIPs during the three months ended March 31, 2017. No incentive allocation revenue was recognized during the three months ended March 31, 2018 and 2017. Management fees and incentive allocations earned from CIPs are eliminated from revenue upon consolidation. Third-party investors’ ownership interest in CIPs is presented as redeemable noncontrolling interest in the Unaudited Consolidated Statements of Financial Condition as third-party investors have the right to withdraw their capital, subject to certain conditions. Net income attributable to third-party investors is reported as net income attributable to noncontrolling interests - consolidated investment products in the Unaudited Consolidated Statement of Operations. Fair Value Measurements - Consolidated Investment Products The carrying value of CIPs’ investments is also their fair value. Short and long positions on equity securities are valued based upon closing prices of the security on the exchange or market designated by the accounting agent or pricing vendor as the principal exchange. The closing price may represent last sale price, official closing price, a closing auction or other information depending on market convention. Short and long positions on fixed income instruments are valued at market value. Market values are generally evaluations based on the judgment of pricing vendors, which may consider, among other factors, the prices at which securities actually trade, broker-dealer quotations, pricing formulas, estimates of market values obtained from yield data relating to investments or securities with similar characteristics and/or discounted cash flow models that might be applicable. The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of March 31, 2018 and December 31, 2017 . Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2018 Assets Money market funds $ 39,750 $ 39,750 $ — $ — Equity securities - long position 75,743 74,394 1,349 — Fixed income instruments - long position 41,808 — 41,808 — Derivative assets 1,961 721 1,240 — Liabilities Equity securities - short position $ 35,444 $ 35,444 $ — $ — Fixed income instruments - short position 17,909 — 17,909 — Derivative liabilities 402 94 308 — Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 December 31, 2017 Assets Money market funds $ 21,881 $ 21,881 $ — $ — Equity securities - long position 69,044 69,044 — — Fixed income instruments - long position 45,758 — 45,758 — Derivative assets 343 303 40 — Liabilities Equity securities - short position $ 29,199 $ 29,199 $ — $ — Fixed income instruments - short position 18,513 — 18,513 — Derivative liabilities 145 45 100 — CIP balances included in the Company’s Consolidated Statements of Financial Condition were as follows: March 31, 2018 December 31, 2017 Net CIP assets included in the table above $ 105,507 $ 89,169 Net CIP assets not included in the table above 13,252 8,762 Net CIP assets 118,759 97,931 Less: redeemable noncontrolling interest 81,652 62,581 Artisan’s direct equity investment in CIPs $ 37,107 $ 35,350 Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Artisan’s policy is to recognize transfers in and transfers out of the valuation levels as of the beginning of the reporting period. During the three months ended March 31, 2018 , the Company had transfers from Level 1 to Level 2 of $0.6 million . There were no transfers into Level 1 from Level 2, or into or out of Level 3 during the three months ended March 31, 2018 .

Noncontrolling interest - Holdi

Noncontrolling interest - Holdings	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Noncontrolling interest - Holdings	Note 7. 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, 2018 , APAM held approximately 69% 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, 2018 , 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, 2017 50,463,126 25,106,719 75,569,845 67 % 2018 Follow-On Offering 644,424 (644,424 ) — 1 % Holdings Common Unit Exchanges 958,288 (958,288 ) — 1 % Issuance of APAM Restricted Shares 1,510,570 — 1,510,570 1 % Restricted Share Award Net Share Settlement (53,986 ) — (53,986 ) (1 )% Forfeitures of Holdings GP Units from Employee Terminations (1) (38,788 ) — (38,788 ) — % Balance at March 31, 2018 53,483,634 23,504,007 76,987,641 69 % (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, 2018 2017 Additional paid-in capital $ (383 ) $ (1,274 ) Noncontrolling interest - Artisan Partners Holdings 418 1,510 Accumulated other comprehensive income (loss) (35 ) (236 ) 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 $0.6 million for the three months ended March 31, 2018 and $2.5 million for the three months ended March 31, 2017 .

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Note 8. Stockholders’ Equity APAM - Stockholders’ Equity As of March 31, 2018 and December 31, 2017 , APAM had the following authorized and outstanding equity: Outstanding Authorized March 31, 2018 December 31, 2017 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 53,483,634 50,463,126 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 9,707,506 11,922,192 1 vote per share (2) None Class C, par value $0.01 per share 400,000,000 13,796,501 13,184,527 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, 2018, Artisan’s employees held 5,057,963 restricted shares of Class A common stock subject to the agreement and all 9,707,506 outstanding shares of Class B common stock. (2) On February 9, 2018, the Class B common shares changed from five votes per share to one vote per share. 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, 2018 and 2017 : Type of Dividend Class of Stock For the Three Months Ended March 31, 2018 2017 Quarterly Class A Common $ 0.60 $ 0.60 Special Annual Class A Common $ 0.79 $ 0.36 The following table summarizes APAM’s stock transactions for the three months ended March 31, 2018 : Total Stock Outstanding Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2017 75,569,845 50,463,126 11,922,192 13,184,527 2018 Follow-On Offering — 644,424 (644,424 ) — Holdings Common Unit Exchanges — 958,288 (449,066 ) (509,222 ) Restricted Share Award Grants 1,510,570 1,510,570 — — Restricted Share Award Net Share Settlement (53,986 ) (53,986 ) — — Employee/Partner Terminations (38,788 ) (38,788 ) (1,121,196 ) 1,121,196 Balance at March 31, 2018 76,987,641 53,483,634 9,707,506 13,796,501 (1) There were 246,581 and 218,089 restricted stock units outstanding at March 31, 2018 and December 31, 2017, 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 Class B common units are exchanged for Class E common units and the corresponding shares of Class B common stock are canceled. 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, 2018 and 2017 , were as follows: For the Three Months Ended March 31, 2018 2017 Holdings Partnership Distributions to Limited Partners $ 22,683 $ 16,530 Holdings Partnership Distributions to APAM 45,593 21,633 Total Holdings Partnership Distributions $ 68,276 $ 38,163 The distributions are recorded as a reduction to consolidated stockholders’ equity, with the exception of distributions made to APAM, which are eliminated upon consolidation.

Revenue from Contracts with Cus

Revenue from Contracts with Customers (Notes)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Note 9. Revenue From Contracts with Customers Artisan’s revenue is derived from contracts with customers in the form of investment management fees, performance-based fees and incentive allocations. Investment Management Fees Investment management fees are generally computed as a percentage of assets under management and are recognized as revenue at the end of each distinct service period. Fees for providing investment advisory services are computed and billed in accordance with the underlying investment management agreements, which is generally on a monthly or quarterly basis. Investment management fees are presented net of cash rebates and fees waived pursuant to contractual expense limitations of certain funds or voluntary waivers. Performance Fees A number of investment management agreements provide for performance-based fees or incentive allocations, collectively “performance fees”. Performance fees, if earned, are recognized upon completion of the contractually determined measurement period, which is generally quarterly or annually. Performance fees are not subject to claw back as a result of performance declines subsequent to the most recent measurement date. Revenue Recognition Artisan accounts for asset management services as a single performance obligation that is satisfied over time, using a time-based measure of progress to recognize revenue. Customer consideration is variable due to the uncertainty of the value of assets under management during each distinct service period. At the end of each quarter, Artisan records revenue for the actual amount of investment management fees earned for that quarter because the uncertainty has been resolved. Performance fees are subject to the uncertainty of market volatility, and as a result, the entire amount of the variable consideration related to performance fees is constrained until the end of each measurement period. At the end of the quarterly or annual measurement period, revenue is recorded for the actual amount of performance fees earned during that period because the uncertainty has been resolved. For performance fees with annual measurement periods, revenue recognized in the current quarter relates to performance obligations that were partially satisfied in prior periods. Artisan recognized performance fee revenues of $42 thousand during the three months ended March 31, 2018. No performance fee revenue was recognized during the three months ended March 31, 2017. Customer Rebates, Waivers and Expense Reimbursements Artisan has contractually agreed to waive its investment management fees or reimburse for expenses incurred to the extent necessary to limit annualized ordinary operating expenses incurred by certain funds to not more than a fixed percentage of the funds’ average daily net assets. Artisan may also contractually agree to pay fee rebates to certain clients. Artisan accounts for all waivers, reimbursements, and rebates as a reduction of the transaction price (and, hence, of revenue) because the billing adjustments and payments represent consideration payable to customers, and Artisan does not receive any distinct goods or services from the customers in exchange. Disaggregated Revenue The following table presents a disaggregation of revenue by type and vehicle for the three months ended March 31, 2018 and 2017. For the three months ended March 31, 2018 2017 Management fees Artisan Funds $ 125,253 $ 110,574 Artisan Global Funds 8,522 6,810 Separate accounts (1) 78,191 66,690 Performance fees Separate accounts (1) 42 — Total revenues $ 212,008 $ 184,074 (1) Separate account revenue consists of management fees and performance fees from vehicles other than Artisan Funds or Artisan Global Funds. Separate account revenue includes fees earned from traditional separate accounts and privately offered funds, as well as fees earned from Artisan-branded collective investment trusts and funds (both public and private) that Artisan sub-advises. All management fees and performance fees from privately offered funds were eliminated upon consolidation and therefore are omitted from this table. The following table presents the balances of receivables related to contracts with customers. As of March 31, 2018 As of December 31, 2017 Customer Artisan Funds $ — $ 4 Artisan Global Funds 2,642 5,105 Separate accounts 68,813 68,019 Total receivables from contracts with customers $ 71,455 $ 73,128 Other receivables 3,303 3,565 Accounts receivable $ 74,758 $ 76,693 Artisan Funds and Artisan Global Funds are billed on the last day of each month. Artisan Funds makes payments on the same day the invoice is received and Artisan Global Funds generally makes payments in the month following receipt of the invoice. Separate account clients are generally billed on a monthly or quarterly basis, with payments due within 30 days of billing. Artisan had no contract assets or liabilities from contracts with customers as of March 31, 2018 or December 31, 2017.

Compensation and Benefits

Compensation and Benefits	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Compensation and Benefits	Note 10. Compensation and Benefits Total compensation and benefits consists of the following: For the Three Months Ended March 31, 2018 2017 Salaries, incentive compensation and benefits (1) $ 91,381 $ 81,482 Restricted share-based award compensation expense 13,843 11,767 Total salaries, incentive compensation and benefits 105,224 93,249 Pre-offering related compensation - share-based awards — 6,339 Total compensation and benefits $ 105,224 $ 99,588 (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 is generally paid on an annual basis. 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. 6,525,686 shares of Class A common stock were reserved and available for issuance under the Plan as of March 31, 2018 . During the three months ended March 31, 2018 , Artisan granted 1,510,570 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 2018 grants is expected to be approximately $59.5 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. The following table summarizes the restricted share-based award activity for the three months ended March 31, 2018 : Weighted-Average Grant Date Fair Value Number of Awards Unvested at January 1, 2018 $ 38.79 4,013,986 Granted 39.35 1,511,820 Forfeited 38.62 (38,788 ) Vested 32.92 (325,930 ) Unvested at March 31, 2018 $ 39.33 5,161,088 Compensation expense recognized related to the restricted share-based awards was $13.8 million and $11.8 million for the three months ended March 31, 2018 and 2017, respectively. The unrecognized compensation expense for the unvested awards as of March 31, 2018 was $142.1 million with a weighted average recognition period of 3.7 years remaining. During the three months ended March 31, 2018 , the Company withheld a total of 53,986 restricted shares as a result of net share settlements to satisfy employee tax withholding obligations. The Company paid $1.8 million in employee tax withholding obligations related to these settlements during the three months ended March 31, 2018 . 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 Prior to the IPO, Holdings granted Class B share-based awards to certain employees. These awards vested over a period of five years and became fully vested on July 1, 2017. Compensation expense recognized related to the Class B awards was $6.3 million for the three months ended March 31, 2017 .

Income Taxes and Related Paymen

Income Taxes and Related Payments	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income taxes and related payments	Note 11. 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 21% primarily due to a rate benefit attributable to the fact that, for the three months ended March 31, 2018, approximately 33% of Artisan Partners Holdings’ full year projected taxable earnings were attributable to other partners and not subject to corporate-level taxes. The effective tax rate was also lower than the statutory rate due to dividends paid on unvested share-based awards during the quarter. The Tax Cuts and Jobs Act (“Tax Reform”) was enacted in December 2017. As a result of Tax Reform, the U.S. federal corporate tax rate decreased from 35% to 21% , which was the largest driver of lowering APAM’s effective tax rate from 23.1% for three months ended March 31, 2017 to 14.6% for the three months ended March 31, 2018 . Components of the provision for income taxes consist of the following: For the Three Months Ended March 31, 2018 2017 Current: Federal $ 4,149 $ 2,623 State and local 767 361 Foreign 117 108 Total 5,033 3,092 Deferred: Federal 6,480 9,135 State and local 772 522 Total 7,252 9,657 Income tax expense $ 12,285 $ 12,749 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 from 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, 2018 is summarized as follows: Deferred Tax Asset - Amortizable basis Amounts payable under tax receivable agreements December 31, 2017 $ 410,690 $ 385,413 2018 Follow-On Offering 7,687 6,534 2018 Holdings Common Unit Exchanges 10,023 8,520 Amortization (7,314 ) — March 31, 2018 $ 421,086 $ 400,467 Net deferred tax assets comprise the following: As of March 31, 2018 As of December 31, 2017 Deferred tax assets: Amortizable basis (1) $ 421,086 $ 410,690 Other (2) 19,297 18,522 Total deferred tax assets 440,383 429,212 Less: valuation allowance (3) — — Net deferred tax assets $ 440,383 $ 429,212 (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. These future tax benefits are not subject to the TRA agreements. (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, 2018 and December 31, 2017 . 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, 2018 , U.S. federal income tax returns for the years 2014 through 2016 are open and therefore subject to examination. State and local tax returns are generally subject to examination from 2013 to 2016. Foreign tax returns are generally subject to examination from 2013 to 2016.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 12. 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, 2018 As of December 31, 2017 Unrealized gain on investments, net of tax $ — $ 259 Foreign currency translation gain (loss) (739 ) (1,132 ) Accumulated Other Comprehensive Income (Loss) $ (739 ) $ (873 ) 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, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Note 13. 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, 2018 and 2017 were as follows: For the Three Months Ended March 31, Basic and Diluted Earnings Per Share 2018 2017 Numerator: Net income attributable to APAM $ 41,274 $ 19,795 Less: Allocation to participating securities 5,924 4,426 Net income available to common stockholders $ 35,350 $ 15,369 Denominator: Weighted average shares outstanding 47,360,438 41,019,598 Earnings per share $ 0.75 $ 0.37 Allocation to participating securities in the table above primarily represents dividends paid to holders of unvested restricted share-based awards, which reduces net income available to common stockholders. There were no dilutive securities outstanding during the three months ended March 31, 2018 and 2017. The Holdings limited partnership units are anti-dilutive primarily due to the impact of public company expenses. Unvested restricted share-based awards are considered participating securities and are therefore anti-dilutive. 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 2018 2017 Holdings limited partnership units 24,558,161 30,218,943 Unvested restricted share-based awards 4,564,084 3,912,879 Total 29,122,245 34,131,822

Indemnifications

Indemnifications	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Indemnifications	Note 14. 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, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 15. Related Party Transactions Several of the current 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, 2018 2017 Investment management fees (Gross of fee waivers/expense reimbursements): Artisan Funds $ 125,362 $ 110,574 Fee waiver / expense reimbursement: Artisan Funds $ 109 $ 197 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. 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, 2018 2017 Investment management fees (Gross of fee waivers/expense reimbursements): Artisan Global Funds $ 8,526 $ 6,810 Fee waiver / expense reimbursement: Artisan Global Funds $ 4 $ 17 Affiliate transactions—Artisan Sponsored Private Funds Pursuant to written agreements, Artisan serves as the investment manager of certain Artisan sponsored private funds. Under the terms of these agreements, Artisan earns a management fee and is entitled to receive an allocation of profits. In 2017, Artisan made seed investments of $32.3 million in the private funds. Certain related parties, including employees, officers and members of the Company’s board invested an additional $34.6 million in the funds. These related party investors currently do not pay a management fee or incentive allocation. In addition, for a period of time following the formation of the private funds, Artisan has agreed to reimburse the funds to the extent that expenses, excluding Artisan’s management fee and transaction related costs, exceed 1.00% per annum of the net assets of the funds. Artisan may also voluntarily waive fees or reimburse the funds for other expenses. Gross fees for managing the privately offered funds were $98 thousand for the three months ended March 31, 2018, which were eliminated from revenue upon consolidation. Expense reimbursements totaled $ 9 thousand for the three months ended March 31, 2018.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 16. Subsequent Events Distributions and dividends On April 26, 2018 , APAM, acting as the general partner of Artisan Partners Holdings, declared a distribution by Artisan Partners Holdings of $27.6 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, 2018 , to shareholders of record as of May 17, 2018 . Holdings Unit Exchanges On April 2, 2018 , limited partners of Artisan Partners Holdings exchanged 452,628 common units for 452,628 Class A common shares. The exchange increased APAM’s equity ownership interest in Holdings and resulted in an $4.4 million increase in deferred tax assets and $3.8 million increase in amounts payable under the tax receivable agreements. TRA Payments On April 17, 2018, the Company made a payment of $27.3 million under the tax receivable agreements representing a portion of the Company’s estimated total 2018 TRA payments.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
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. Artisan generally consolidates VIEs in which it meets the power criteria and holds an equity ownership interest of greater than 10%. 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 to Artisan Funds, Artisan Global Funds and other investment products, including Artisan sponsored private 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 voting rights, including rights 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, each sub-fund of Artisan Global Funds is evaluated for consolidation under the VIE model. Artisan sponsored privately offered funds are also evaluated for consolidation under the VIE model because third-party equity holders of the funds generally lack the ability to divest Artisan of its control of the funds. From time to time, the Company makes investments in Artisan Funds, Artisan Global Funds, and Artisan sponsored private funds. If the investment results in a controlling financial interest, APAM consolidates the fund, and the underlying activity of the entire fund is included in Artisan’s Consolidated Financial Statements. As of March 31, 2018 , Artisan has a controlling financial interest in two sub-funds of Artisan Global Funds and certain privately offered funds and, as a result, these funds are included in Artisan’s Consolidated Financial Statements. Because these consolidated investment products meet the definition of investment companies under U.S. GAAP, Artisan has retained the specialized industry accounting principles for investment companies in its Consolidated Financial Statements. See Note 6, “Variable Interest Entities and Consolidated Investment Products” for additional details.
Recent accounting pronouncements	Recent accounting pronouncements Accounting standards adopted as of January 1, 2018 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 Company adopted ASU 2014-09 as of January 1, 2018, utilizing the modified retrospective method. There was no cumulative effect adjustment of applying the new revenue standard and the comparative information has not been restated. There are no significant differences between the reported results under the revenue standard and what would have been reported under the previous revenue guidance, other than the disclosures included in Note 9, ”Revenue From Contracts with Customers” . The Company expects the impact of adopting the new revenue standard to be immaterial to its results on an ongoing basis. The application of ASU 2014-09 had no impact on the Consolidated Statement of Financial Condition as of March 31, 2018, as compared to the previous revenue recognition standard. The application of the new principal versus agent guidance resulted in presentation changes whereby certain costs are now reported on a gross basis, when the Company is acting as principal, and reported on a net basis, when the Company is acting as an agent. The new standard requires the entire amount of fee waivers and expense reimbursements to be presented net against revenue, which resulted in an $11 thousand decrease in management fee revenue and a corresponding $11 thousand decrease in general and administrative expenses within the Consolidated Statements of Operations for the three months ended March 31, 2018. Applying ASU 2014-09 had no impact to operating income or net income, as compared to applying the previous revenue recognition standard. Artisan did not apply any of the practical expedients in ASU 2014-09. 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. The Company adopted ASU 2016-01 as of January 1, 2018, utilizing the modified retrospective method. Upon adoption, the Company made a cumulative-effect adjustment to the Company’s Consolidated Statements of Financial Condition, which resulted in a $0.4 million decrease to accumulated other comprehensive income (loss) and a corresponding $0.4 million increase to retained earnings (deficit). The application of ASU 2016-01 results in the recognition of the Company’s unrealized gains (losses) on investment securities through net income. The Company recognized $0.3 million of unrealized gains in net income for the three months ended March 31, 2018. In November 2016, the FASB issued ASU 2016-18, Restricted Cash , to clarify guidance on the classification and presentation of restricted cash in the statement of cash flows. Restricted cash and restricted cash equivalents, including cash of consolidated investment products, is required to be included in cash and cash-equivalent balances in the statement of cash flows. The guidance is effective as of January 1, 2018, and requires retrospective application to all periods presented. The Consolidated Statements of Cash Flows includes a reconciliation to the line items on the Consolidated Statements of Financial Condition. Accounting standards not yet adopted 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 total liabilities, but will not have a significant impact on the Consolidated Statements of Operations.

Nature of Business and Organi26

Nature of Business and Organization (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 : Total Common Units Exchanged Class A Common Units Class B Common Units Class E Common Units Common units exchanged on March 1, 2018 958,288 499,222 449,066 10,000

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2018
Gain (Loss) on Investments [Line Items]
Schedule of available-for-sale securities	The disclosures below include details of Artisan’s investments, excluding money market funds and consolidated investment products. Investments held by consolidated investment products are described in Note 6, “Variable Interest Entities and Consolidated Investment Products” . Artisan’s investment securities as of December 31, 2017 consisted of the following: Cost Unrealized Unrealized Fair Value December 31, 2017 Mutual funds $ 4,361 $ 617 $ — $ 4,978

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 and December 31, 2017 : Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2018 Assets Money market funds $ 68,823 $ 68,823 $ — $ — Mutual funds 5,298 5,298 — — December 31, 2017 Assets Money market funds $ 26,727 $ 26,727 $ — $ — Mutual funds 4,978 4,978 — —

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule of borrowings	Artisan’s borrowings consist of the following as of March 31, 2018 and December 31, 2017 : Maturity Outstanding Balance Interest Rate Per Annum Revolving credit agreement August 2022 $ — NA Senior notes Series B August 2019 50,000 5.32 % Series C August 2022 90,000 5.82 % Series D August 2025 60,000 4.29 % Total borrowings $ 200,000
Aggregate maturities of debt obligations	As of March 31, 2018 , the aggregate maturities of debt obligations, based on their contractual terms, are as follows: 2018 $ — 2019 50,000 2020 — 2021 — 2022 90,000 Thereafter 60,000 Total $ 200,000

Variable Interest Entities an30

Variable Interest Entities and Consolidated Investment Products (Tables)	3 Months Ended
	Mar. 31, 2018
Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Variable Interest Entities and Consolidated Investment Products	The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of March 31, 2018 and December 31, 2017 . Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2018 Assets Money market funds $ 39,750 $ 39,750 $ — $ — Equity securities - long position 75,743 74,394 1,349 — Fixed income instruments - long position 41,808 — 41,808 — Derivative assets 1,961 721 1,240 — Liabilities Equity securities - short position $ 35,444 $ 35,444 $ — $ — Fixed income instruments - short position 17,909 — 17,909 — Derivative liabilities 402 94 308 — Note 6. Variable Interest Entities and Consolidated Investment Products Artisan serves as the investment adviser for various types of investment products, consisting of both VIEs and VOEs. Artisan consolidates an investment product if it has a controlling financial interest in the entity. Any such entities are collectively referred to herein as consolidated investment products or CIPs. As of March 31, 2018 , Artisan is considered to be the primary beneficiary of two sub-funds of Artisan Global Funds and certain Artisan sponsored private funds related to two investment strategies for which it serves as investment manager. As of March 31, 2018, Artisan’s direct equity investment in the consolidated investment products was $37.1 million . Artisan’s maximum exposure to loss in connection with the assets and liabilities of CIPs is limited to its direct equity investment, while the potential benefit is limited to the management fee and incentive allocation received and the return on its equity investment. With the exception of Artisan’s direct equity investment, the assets of CIPs are not available to Artisan’s creditors, nor are they available to Artisan for general corporate purposes. In addition, third-party investors in the CIPs have no recourse to the general credit of the Company. Artisan earned management fees of $45 thousand from CIPs during the three months ended March 31, 2018. No management fees were earned from CIPs during the three months ended March 31, 2017. No incentive allocation revenue was recognized during the three months ended March 31, 2018 and 2017. Management fees and incentive allocations earned from CIPs are eliminated from revenue upon consolidation. Third-party investors’ ownership interest in CIPs is presented as redeemable noncontrolling interest in the Unaudited Consolidated Statements of Financial Condition as third-party investors have the right to withdraw their capital, subject to certain conditions. Net income attributable to third-party investors is reported as net income attributable to noncontrolling interests - consolidated investment products in the Unaudited Consolidated Statement of Operations. Fair Value Measurements - Consolidated Investment Products The carrying value of CIPs’ investments is also their fair value. Short and long positions on equity securities are valued based upon closing prices of the security on the exchange or market designated by the accounting agent or pricing vendor as the principal exchange. The closing price may represent last sale price, official closing price, a closing auction or other information depending on market convention. Short and long positions on fixed income instruments are valued at market value. Market values are generally evaluations based on the judgment of pricing vendors, which may consider, among other factors, the prices at which securities actually trade, broker-dealer quotations, pricing formulas, estimates of market values obtained from yield data relating to investments or securities with similar characteristics and/or discounted cash flow models that might be applicable. The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of March 31, 2018 and December 31, 2017 . Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 March 31, 2018 Assets Money market funds $ 39,750 $ 39,750 $ — $ — Equity securities - long position 75,743 74,394 1,349 — Fixed income instruments - long position 41,808 — 41,808 — Derivative assets 1,961 721 1,240 — Liabilities Equity securities - short position $ 35,444 $ 35,444 $ — $ — Fixed income instruments - short position 17,909 — 17,909 — Derivative liabilities 402 94 308 — Assets and Liabilities at Fair Value Total Level 1 Level 2 Level 3 December 31, 2017 Assets Money market funds $ 21,881 $ 21,881 $ — $ — Equity securities - long position 69,044 69,044 — — Fixed income instruments - long position 45,758 — 45,758 — Derivative assets 343 303 40 — Liabilities Equity securities - short position $ 29,199 $ 29,199 $ — $ — Fixed income instruments - short position 18,513 — 18,513 — Derivative liabilities 145 45 100 — CIP balances included in the Company’s Consolidated Statements of Financial Condition were as follows: March 31, 2018 December 31, 2017 Net CIP assets included in the table above $ 105,507 $ 89,169 Net CIP assets not included in the table above 13,252 8,762 Net CIP assets 118,759 97,931 Less: redeemable noncontrolling interest 81,652 62,581 Artisan’s direct equity investment in CIPs $ 37,107 $ 35,350 Transfers between investment levels may occur as the markets fluctuate and/or the availability of data used in an investment’s valuation changes. Artisan’s policy is to recognize transfers in and transfers out of the valuation levels as of the beginning of the reporting period. During the three months ended March 31, 2018 , the Company had transfers from Level 1 to Level 2 of $0.6 million . There were no transfers into Level 1 from Level 2, or into or out of Level 3 during the three months ended March 31, 2018 .

Noncontrolling interest - Hol31

Noncontrolling interest - Holdings (Tables)	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Schedule of Equity ownership Interests in Holdings	For the three months ended March 31, 2018 , 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, 2017 50,463,126 25,106,719 75,569,845 67 % 2018 Follow-On Offering 644,424 (644,424 ) — 1 % Holdings Common Unit Exchanges 958,288 (958,288 ) — 1 % Issuance of APAM Restricted Shares 1,510,570 — 1,510,570 1 % Restricted Share Award Net Share Settlement (53,986 ) — (53,986 ) (1 )% Forfeitures of Holdings GP Units from Employee Terminations (1) (38,788 ) — (38,788 ) — % Balance at March 31, 2018 53,483,634 23,504,007 76,987,641 69 % (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, 2018 2017 Additional paid-in capital $ (383 ) $ (1,274 ) Noncontrolling interest - Artisan Partners Holdings 418 1,510 Accumulated other comprehensive income (loss) (35 ) (236 ) Net impact to financial condition — —

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Authorized and outstanding equity	As of March 31, 2018 and December 31, 2017 , APAM had the following authorized and outstanding equity: Outstanding Authorized March 31, 2018 December 31, 2017 Voting Rights (1) Economic Rights Common shares Class A, par value $0.01 per share 500,000,000 53,483,634 50,463,126 1 vote per share Proportionate Class B, par value $0.01 per share 200,000,000 9,707,506 11,922,192 1 vote per share (2) None Class C, par value $0.01 per share 400,000,000 13,796,501 13,184,527 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, 2018, Artisan’s employees held 5,057,963 restricted shares of Class A common stock subject to the agreement and all 9,707,506 outstanding shares of Class B common stock. (2) On February 9, 2018, the Class B common shares changed from five votes per share to one vote per share.
Dividends Declared	APAM declared and paid the following dividends per share during the three months ended March 31, 2018 and 2017 : Type of Dividend Class of Stock For the Three Months Ended March 31, 2018 2017 Quarterly Class A Common $ 0.60 $ 0.60 Special Annual Class A Common $ 0.79 $ 0.36
Issuance (Cancellation) of Shares Disclosure	The following table summarizes APAM’s stock transactions for the three months ended March 31, 2018 : Total Stock Outstanding Class A Common Stock (1) Class B Common Stock Class C Common Stock Balance at December 31, 2017 75,569,845 50,463,126 11,922,192 13,184,527 2018 Follow-On Offering — 644,424 (644,424 ) — Holdings Common Unit Exchanges — 958,288 (449,066 ) (509,222 ) Restricted Share Award Grants 1,510,570 1,510,570 — — Restricted Share Award Net Share Settlement (53,986 ) (53,986 ) — — Employee/Partner Terminations (38,788 ) (38,788 ) (1,121,196 ) 1,121,196 Balance at March 31, 2018 76,987,641 53,483,634 9,707,506 13,796,501 (1) There were 246,581 and 218,089 restricted stock units outstanding at March 31, 2018 and December 31, 2017, 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, 2018 and 2017 , were as follows: For the Three Months Ended March 31, 2018 2017 Holdings Partnership Distributions to Limited Partners $ 22,683 $ 16,530 Holdings Partnership Distributions to APAM 45,593 21,633 Total Holdings Partnership Distributions $ 68,276 $ 38,163

Revenue from Contracts with C33

Revenue from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue [Table Text Block]	Disaggregated Revenue The following table presents a disaggregation of revenue by type and vehicle for the three months ended March 31, 2018 and 2017. For the three months ended March 31, 2018 2017 Management fees Artisan Funds $ 125,253 $ 110,574 Artisan Global Funds 8,522 6,810 Separate accounts (1) 78,191 66,690 Performance fees Separate accounts (1) 42 — Total revenues $ 212,008 $ 184,074 (1) Separate account revenue consists of management fees and performance fees from vehicles other than Artisan Funds or Artisan Global Funds. Separate account revenue includes fees earned from traditional separate accounts and privately offered funds, as well as fees earned from Artisan-branded collective investment trusts and funds (both public and private) that Artisan sub-advises. All management fees and performance fees from privately offered funds were eliminated upon consolidation and therefore are omitted from this table.
Contract with Customer, Asset and Liability [Table Text Block]	The following table presents the balances of receivables related to contracts with customers. As of March 31, 2018 As of December 31, 2017 Customer Artisan Funds $ — $ 4 Artisan Global Funds 2,642 5,105 Separate accounts 68,813 68,019 Total receivables from contracts with customers $ 71,455 $ 73,128 Other receivables 3,303 3,565 Accounts receivable $ 74,758 $ 76,693

Revenue from Contracts with C34

Revenue from Contracts with Customers Receivables from Contracts with Customers (Tables)	3 Months Ended
	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue [Table Text Block]	Disaggregated Revenue The following table presents a disaggregation of revenue by type and vehicle for the three months ended March 31, 2018 and 2017. For the three months ended March 31, 2018 2017 Management fees Artisan Funds $ 125,253 $ 110,574 Artisan Global Funds 8,522 6,810 Separate accounts (1) 78,191 66,690 Performance fees Separate accounts (1) 42 — Total revenues $ 212,008 $ 184,074 (1) Separate account revenue consists of management fees and performance fees from vehicles other than Artisan Funds or Artisan Global Funds. Separate account revenue includes fees earned from traditional separate accounts and privately offered funds, as well as fees earned from Artisan-branded collective investment trusts and funds (both public and private) that Artisan sub-advises. All management fees and performance fees from privately offered funds were eliminated upon consolidation and therefore are omitted from this table.
Contract with Customer, Asset and Liability [Table Text Block]	The following table presents the balances of receivables related to contracts with customers. As of March 31, 2018 As of December 31, 2017 Customer Artisan Funds $ — $ 4 Artisan Global Funds 2,642 5,105 Separate accounts 68,813 68,019 Total receivables from contracts with customers $ 71,455 $ 73,128 Other receivables 3,303 3,565 Accounts receivable $ 74,758 $ 76,693

Revenue from Contracts with C35

Revenue from Contracts with Customers Receivables from Contracts with Customer (Tables) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable	$ 74,758	$ 76,693
Contract with Customer, Asset and Liability [Table Text Block]	The following table presents the balances of receivables related to contracts with customers. As of March 31, 2018 As of December 31, 2017 Customer Artisan Funds $ — $ 4 Artisan Global Funds 2,642 5,105 Separate accounts 68,813 68,019 Total receivables from contracts with customers $ 71,455 $ 73,128 Other receivables 3,303 3,565 Accounts receivable $ 74,758 $ 76,693

Compensation and Benefits (Tabl

Compensation and Benefits (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 Salaries, incentive compensation and benefits (1) $ 91,381 $ 81,482 Restricted share-based award compensation expense 13,843 11,767 Total salaries, incentive compensation and benefits 105,224 93,249 Pre-offering related compensation - share-based awards — 6,339 Total compensation and benefits $ 105,224 $ 99,588 (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, 2018 : Weighted-Average Grant Date Fair Value Number of Awards Unvested at January 1, 2018 $ 38.79 4,013,986 Granted 39.35 1,511,820 Forfeited 38.62 (38,788 ) Vested 32.92 (325,930 ) Unvested at March 31, 2018 $ 39.33 5,161,088

Income Taxes and Related Paym37

Income Taxes and Related Payments (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 Current: Federal $ 4,149 $ 2,623 State and local 767 361 Foreign 117 108 Total 5,033 3,092 Deferred: Federal 6,480 9,135 State and local 772 522 Total 7,252 9,657 Income tax expense $ 12,285 $ 12,749
Schedule of Other Assets and Other Liabilities	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, 2018 is summarized as follows: Deferred Tax Asset - Amortizable basis Amounts payable under tax receivable agreements December 31, 2017 $ 410,690 $ 385,413 2018 Follow-On Offering 7,687 6,534 2018 Holdings Common Unit Exchanges 10,023 8,520 Amortization (7,314 ) — March 31, 2018 $ 421,086 $ 400,467
Components of deferred tax assets	Net deferred tax assets comprise the following: As of March 31, 2018 As of December 31, 2017 Deferred tax assets: Amortizable basis (1) $ 421,086 $ 410,690 Other (2) 19,297 18,522 Total deferred tax assets 440,383 429,212 Less: valuation allowance (3) — — Net deferred tax assets $ 440,383 $ 429,212 (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. These future tax benefits are not subject to the TRA agreements. (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 Comprehensi38

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 As of December 31, 2017 Unrealized gain on investments, net of tax $ — $ 259 Foreign currency translation gain (loss) (739 ) (1,132 ) Accumulated Other Comprehensive Income (Loss) $ (739 ) $ (873 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 and 2017 were as follows: For the Three Months Ended March 31, Basic and Diluted Earnings Per Share 2018 2017 Numerator: Net income attributable to APAM $ 41,274 $ 19,795 Less: Allocation to participating securities 5,924 4,426 Net income available to common stockholders $ 35,350 $ 15,369 Denominator: Weighted average shares outstanding 47,360,438 41,019,598 Earnings per share $ 0.75 $ 0.37
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 2018 2017 Holdings limited partnership units 24,558,161 30,218,943 Unvested restricted share-based awards 4,564,084 3,912,879 Total 29,122,245 34,131,822

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2018
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, 2018 2017 Investment management fees (Gross of fee waivers/expense reimbursements): Artisan Funds $ 125,362 $ 110,574 Fee waiver / expense reimbursement: Artisan Funds $ 109 $ 197
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, 2018 2017 Investment management fees (Gross of fee waivers/expense reimbursements): Artisan Global Funds $ 8,526 $ 6,810 Fee waiver / expense reimbursement: Artisan Global Funds $ 4 $ 17

Nature of Business and Organi41

Nature of Business and Organization (Details) - $ / shares	Mar. 01, 2018	Mar. 31, 2018	Feb. 27, 2018	Dec. 31, 2017
Class of Stock [Line Items]
APAM economic interest in Artisan Partners Holdings LP (as a percent)		69.00%
Conversion of Stock, Shares Converted	958,288
Class A Common Stock
Class of Stock [Line Items]
Stock issued during period, shares, new issues		(644,424)
Class A Common Units
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	499,222
Class B Common Units
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	449,066
Class E Common Units
Class of Stock [Line Items]
Conversion of Stock, Shares Converted	10,000
Capital Units
Class of Stock [Line Items]
APAM economic interest in Artisan Partners Holdings LP (as a percent)		69.00%		67.00%
Stock issued during period, shares, new issues		0
Follow On Offering | Capital Units
Class of Stock [Line Items]
Stock issued during period, shares, new issues		(644,424)
Common unit, price per unit (in dollars per share)			$ 33.33

Summary of Significant Accoun42

Summary of Significant Accounting Policies Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net investment income	$ 321	$ 93
Retained Earnings | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	0
Retained Earnings | Accounting Standards Update 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	400
Reclassification out of Accumulated Other Comprehensive Income | Accounting Standards Update 2016-01 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	400
Sales Revenue | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	11
Operating Expense | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 11

Investment Securities (Details)

Investment Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Cost		$ 4,361
Unrealized Gains		617
Unrealized Losses		0
Fair Value	$ 5,298	$ 4,978

Investment Securities Other Inf

Investment Securities Other Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Gain (Loss) on Investments [Line Items]
Available-for-sale Securities, Unrealized Losses			$ 0
Realized Investment Gains (Losses)	$ 0
Net investment income	321	$ 93
Retained Earnings | Accounting Standards Update 2016-01 [Member]
Gain (Loss) on Investments [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	400
Noncontrolling Interest - Artisan Partners Holdings | Accounting Standards Update 2016-01 [Member]
Gain (Loss) on Investments [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 200

Fair Value Measurements - Fair

Fair Value Measurements - Fair value hierarchy of assets and liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 68,823	$ 26,727
Mutual funds	5,298	4,978
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	68,823	26,727
Mutual funds	5,298	4,978
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Mutual funds	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	0
Mutual funds	$ 0	$ 0

Borrowings - Components of Borr

Borrowings - Components of Borrowings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Debt Instrument [Line Items]
Outstanding Balance	$ 200,000		$ 200,000
Interest Expense, Debt	2,700	$ 2,800
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%
Senior notes | Series D
Debt Instrument [Line Items]
Outstanding Balance	$ 60,000		$ 60,000
Interest rate per annum	4.29%		4.29%
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, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2,018	$ 0
2,019	50,000
2,020	0
2,021	0
2,022	90,000
Thereafter	60,000
Borrowings	$ 200,000	$ 200,000

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	$ 200,000		$ 200,000
Interest Expense, Debt	2,700	$ 2,800
Level 2
Debt Instrument [Line Items]
Borrowings fair value	204,900
Series D | Senior notes
Debt Instrument [Line Items]
Debt and Capital Lease Obligations	$ 60,000		$ 60,000
Interest rate per annum	4.29%		4.29%

Variable Interest Entities an49

Variable Interest Entities and Consolidated Investment Products (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount	$ 600
Parent investment in consolidated variable interest entity	37,100
Net assets of consolidated investment products measured at fair value	105,507		$ 89,169
Net assets of consolidated investment products, carrying value	13,252		8,762
Net assets of consolidated investment products	118,759		97,931
Redeemable noncontrolling interests	81,652		62,581
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount	37,107		35,350
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents of consolidated investment products, Fair Value	39,750		21,881
Equity securities of consolidated investment products - long position, Fair Value	75,743		69,044
Fixed income instruments of consolidated investment products - long position, Fair Value	41,808		45,758
Equity securities of consolidated investment products - short position, Fair Value	35,444		29,199
Fixed income instruments of consolidated investment products - short position, Fair Value	17,909		18,513
Credit default swap liabilities of consolidated investment products - Fair Value	402		145
Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents of consolidated investment products, Fair Value	39,750		21,881
Equity securities of consolidated investment products - long position, Fair Value	74,394		69,044
Fixed income instruments of consolidated investment products - long position, Fair Value	0		0
Equity securities of consolidated investment products - short position, Fair Value	35,444		29,199
Fixed income instruments of consolidated investment products - short position, Fair Value	0		0
Credit default swap liabilities of consolidated investment products - Fair Value	94		45
Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents of consolidated investment products, Fair Value	0		0
Equity securities of consolidated investment products - long position, Fair Value	1,349		0
Fixed income instruments of consolidated investment products - long position, Fair Value	41,808		45,758
Equity securities of consolidated investment products - short position, Fair Value	0		0
Fixed income instruments of consolidated investment products - short position, Fair Value	17,909		18,513
Credit default swap liabilities of consolidated investment products - Fair Value	308		100
Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents of consolidated investment products, Fair Value	0		0
Equity securities of consolidated investment products - long position, Fair Value	0		0
Fixed income instruments of consolidated investment products - long position, Fair Value	0		0
Equity securities of consolidated investment products - short position, Fair Value	0		0
Fixed income instruments of consolidated investment products - short position, Fair Value	0		0
Credit default swap liabilities of consolidated investment products - Fair Value	0		0
Privately Offered Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Parent investment in consolidated variable interest entity			32,300
Management fee revenue recognized on consolidated investment products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Eliminated management fees of consolidated investment products	45	$ 0
Management fee revenue recognized on consolidated investment products | Privately Offered Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Eliminated management fees of consolidated investment products	98
Incentive allocation revenue recognized on consolidated investment products | Privately Offered Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Eliminated management fees of consolidated investment products	0	$ 0
Consolidated Investment Products [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets of consolidated investment products	1,961		343
Consolidated Investment Products [Member] | Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets of consolidated investment products	721		303
Consolidated Investment Products [Member] | Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets of consolidated investment products	1,240		40
Consolidated Investment Products [Member] | Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets of consolidated investment products	$ 0		$ 0

Noncontrolling interest - Hol50

Noncontrolling interest - Holdings Share Issuances & Cancellations (Details)	3 Months Ended
	Mar. 31, 2018shares
Class of Stock [Line Items]
Restricted share award net share settlement	(53,986)
Noncontrolling interest, ownership percentage by parent	69.00%
General Partnership Units
Class of Stock [Line Items]
Capital units, outstanding	50,463,126
Holdings common unit exchanges	958,288
Restricted share award net share settlement	(53,986)
Stock repurchased and retired during period, shares	(38,788)
Capital units, outstanding	53,483,634
Limited Partnership Units
Class of Stock [Line Items]
Capital units, outstanding	25,106,719
Holdings common unit exchanges	(958,288)
Restricted share award net share settlement	0
Stock repurchased and retired during period, shares	0
Capital units, outstanding	23,504,007
Capital Units
Class of Stock [Line Items]
Units of partnership interest, amount	75,569,845
Noncontrolling interest, ownership percentage by parent	67.00%
Stock issued during period, shares, new issues	0
Change in APAM economic ownership Interest in Artisan Partners Holdings LP (as a percent)	(1.00%)
Holdings common unit exchanges	0
Holdings of common unit exchanges, APAM ownership percentage	1.00%
Restricted share award net share settlement	(53,986)
Stock repurchased and retired during period, shares	(38,788)
Units of partnership interest, amount	76,987,641
Noncontrolling interest, ownership percentage by parent	69.00%
Restricted Stock
Class of Stock [Line Items]
Stock issued during period, shares, new issues	(1,510,570)
Restricted Stock | General Partnership Units
Class of Stock [Line Items]
Stock issued during period, shares, new issues	(1,510,570)
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	(1,510,570)
Change in APAM economic ownership Interest in Artisan Partners Holdings LP (as a percent)	1.00%
Follow On Offering | General Partnership Units
Class of Stock [Line Items]
Stock issued during period, shares, new issues	(644,424)
Follow On Offering | Limited Partnership Units
Class of Stock [Line Items]
Stock issued during period, shares, new issues	(644,424)
Follow On Offering | Capital Units
Class of Stock [Line Items]
Stock issued during period, shares, new issues	(644,424)
Change in APAM economic ownership Interest in Artisan Partners Holdings LP (as a percent)	1.00%
Capital Units
Class of Stock [Line Items]
Change in APAM economic ownership Interest in Artisan Partners Holdings LP (as a percent)	0.00%

Noncontrolling interest - Hol51

Noncontrolling interest - Holdings (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Noncontrolling Interest [Line Items]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Additional Interest Issued to Parent	$ 0	$ 1
Cumulative impact of changes in ownership of Artisan Partners Holdings, LP, net of tax	0	0
Additional Paid-in Capital
Noncontrolling Interest [Line Items]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Additional Interest Issued to Parent	383	1,274
Noncontrolling Interest - Artisan Partners Holdings
Noncontrolling Interest [Line Items]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Additional Interest Issued to Parent	(418)	(1,510)
Accumulated Other Comprehensive Income (Loss)
Noncontrolling Interest [Line Items]
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Additional Interest Issued to Parent	35	237
Cumulative Impact of Changes in Ownership, Gross		(236)
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	$ 600	$ 2,500

Stockholders' Equity (Details)

Stockholders' Equity (Details)	3 Months Ended
	Mar. 31, 2018votes$ / sharesshares	Mar. 31, 2017$ / shares	Dec. 31, 2017$ / sharesshares
Class of Stock [Line Items]
Common stock, shares outstanding	76,987,641		75,569,845
Dividends declared per Class A common share (in dollars per share) | $ / shares	$ 1.39	$ 0.96
Class A Common Stock
Class of Stock [Line Items]
Common stock, shares authorized	500,000,000		500,000,000
Common stock, shares outstanding	53,483,634		50,463,126
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	9,707,506		11,922,192
Common stock votes per share | votes	1
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	13,796,501		13,184,527
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]
Unvested - Number of awards	5,161,088		4,013,986
Restricted Stock | General Partnership Units
Class of Stock [Line Items]
Unvested - Number of awards	5,057,963
Restricted Stock Units (RSUs)
Class of Stock [Line Items]
Outstanding - Number of awards	246,581		218,089
Quarterly Cash Dividend
Class of Stock [Line Items]
Dividends declared per Class A common share (in dollars per share) | $ / shares	$ 0.60	0.60
Special Annual Dividend
Class of Stock [Line Items]
Dividends declared per Class A common share (in dollars per share) | $ / shares	$ 0.79	$ 0.36

Stockholders' Equity Dividends

Stockholders' Equity Dividends Declared (Details) - $ / shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Dividends Payable [Line Items]
Dividends declared per Class A common share (in dollars per share)	$ 1.39	$ 0.96
Quarterly Cash Dividend
Dividends Payable [Line Items]
Dividends declared per Class A common share (in dollars per share)	0.60	0.60
Special Annual Dividend
Dividends Payable [Line Items]
Dividends declared per Class A common share (in dollars per share)	$ 0.79	$ 0.36

Stockholders' Equity - Share Ac

Stockholders' Equity - Share Activity by Class of Stock (Details) - shares	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Common stock, shares outstanding	76,987,641	75,569,845
Restricted share award net share settlement	(53,986)
Class A Common Stock
Common stock, shares outstanding	53,483,634	50,463,126
Stock issued during period, shares, new issues	(644,424)
Restricted share award net share settlement	(53,986)
Class B Common Stock
Common stock, shares outstanding	9,707,506	11,922,192
Stock issued during period, shares, new issues	(644,424)
Class C Common Stock
Common stock, shares outstanding	13,796,501	13,184,527
Stock issued during period, shares, new issues	0
Common Stock | Class A Common Stock
Stock repurchased and retired during period, shares	(958,288)
Common Stock | Class B Common Stock
Stock repurchased and retired during period, shares	(449,066)
Common Stock | Class C Common Stock
Stock repurchased and retired during period, shares	(509,222)
Restricted Stock
Unvested - Number of awards	5,161,088	4,013,986
Forfeited - Number of awards	(38,788)
Stock issued during period, shares, new issues	(1,510,570)
Restricted Stock | Class A Common Stock
Stock issued during period, shares, new issues	(1,510,570)
Restricted Stock | Class B Common Stock
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)
Outstanding - Number of awards	246,581	218,089
Common Stock
Stock repurchased and retired during period, shares	(38,788)
Common Stock | Class A Common Stock
Stock repurchased and retired during period, shares	(38,788)
Common Stock | Class B Common Stock
Stock repurchased and retired during period, shares	(1,121,196)
Common Stock | Class C Common Stock
Stock issued during period, shares, new issues	(1,121,196)

Stockholders' Equity - Distribu

Stockholders' Equity - Distributions (Details) - Artisan Partners Holdings LP - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Distribution Made to Limited Partner [Line Items]
Holdings Partnership Distributions to Limited Partners	$ 22,683	$ 16,530
Holdings Partnership Distributions to APAM	45,593	21,633
Total Holdings Partnership Distributions	$ 68,276	$ 38,163

Revenue from Contracts with C56

Revenue from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset, Net	$ 0
Disaggregation of Revenue [Line Items]
Performance fees	42	$ 0
Revenues	212,008	184,074
Receivables from Contracts with Customers	71,455		$ 73,128
Other Receivables	3,303		3,565
Accounts receivable	74,758		76,693
Artisan Funds
Disaggregation of Revenue [Line Items]
Management Fees Revenue	125,253	110,574
Receivables from Contracts with Customers	0		4
Artisan Global Funds
Disaggregation of Revenue [Line Items]
Management Fees Revenue	8,522	6,810
Receivables from Contracts with Customers	2,642		5,105
Separate Accounts [Member]
Disaggregation of Revenue [Line Items]
Management Fees Revenue	78,191	66,690
Performance fees	42	$ 0
Receivables from Contracts with Customers	$ 68,813		$ 68,019

Compensation and Benefits - Com

Compensation and Benefits - Components of expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Salaries, incentive compensation and benefits	$ 91,381	$ 81,482
Total salaries, incentive compensation and benefits	105,224	93,249
Pre-offering related compensation - share-based awards	0	6,339
Total compensation and benefits	105,224	99,588
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share-based award compensation expense	$ 13,843	$ 11,767

Compensation and Benefits - Res

Compensation and Benefits - Restricted Share Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	6,525,686
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Granted - Number of awards	1,510,570
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period	5 years
Share-based compensation	$ 13,843	$ 11,767
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	4,013,986
Granted - Number of awards	1,511,820
Forfeited - Number of awards	(38,788)
Vested - Number of awards	(325,930)
Unvested - Number of awards, ending	5,161,088
Unvested - Weighted average grant date fair value	$ 39.33		$ 38.79
Granted - Weighted average grant date fair value	39.35
Forfeited - Weighted average grant date fair value	38.62
Vested - Weighted average grant date fair value	$ 32.92

Compensation and Benefits - Pre

Compensation and Benefits - Pre-Offering Related Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Pre-offering related compensation - share-based awards	$ 0	$ 6,339

Compensation and Benefits - Cla

Compensation and Benefits - Class B Awards Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-offering related compensation - share-based awards	$ 0	$ 6,339
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Granted - Number of awards	1,510,570

Compensation and Benefits - Add

Compensation and Benefits - Additional information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	14,000,000
Number of shares available for grant	6,525,686
Granted - Number of awards	1,510,570
Shares paid for tax withholding for share based compensation	53,986
Taxes paid related to employee net share settlement	$ (1,805)	$ (930)
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years
Granted - Number of awards	1,511,820
Restricted share-based award compensation expense	$ 13,843	$ 11,767
Nonvested awards, Compensation cost not yet recognized	$ 142,100		$ 59,500
Nonvested awards, Compensation cost not yet recognized, Period for recognition	3 years 8 months
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted - Number of awards	1,250
Class B Liability Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	5 years

Income Taxes and Related Paym62

Income Taxes and Related Payments - Components of provision for income taxes (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Statutory tax rate	21.00%		35.00%
Unrecognized tax benefits	$ 0		$ 0
Current:
Federal	4,149	$ 2,623
State and local	767	361
Foreign	117	108
Total	5,033	3,092
Deferred:
Federal	6,480	9,135
State and local	772	522
Total	7,252	9,657
Income tax expense	$ 12,285	$ 12,749
Effective Income Tax Rate	14.60%	23.10%

Income Taxes and Related Paym63

Income Taxes and Related Payments - Components of deferred tax assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Unrecognized tax benefits	$ 0		$ 0
Establishment of amounts payable under tax receivable agreements	15,054	$ 99,189
Deferred Tax Assets, Exchanges	10,023
Deferred tax assets:
Amortizable basis	421,086		410,690
Other	19,297		18,522
Total deferred tax assets	440,383		429,212
Less: valuation allowance	0		0
Deferred tax assets	440,383		$ 429,212
Follow On Offering
Establishment of amounts payable under tax receivable agreements	6,534
Deferred Tax Assets, Exchanges	7,687
Capital Unit [Member]
Establishment of amounts payable under tax receivable agreements	$ 8,520

Income Taxes and Related Paym64

Income Taxes and Related Payments - Additional information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)TRA	Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Unrecognized tax benefits	$ 0		$ 0
Statutory tax rate	21.00%		35.00%
Approximate percentage of earnings not subject to income taxes	33.00%
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 days
Tax Receivable Agreements [Roll Forward]
Amounts payable under tax receivable, beginning agreements	$ 385,413
Establishment of amounts payable under tax receivable agreements	15,054	$ 99,189
Amounts payable under tax receivable, ending agreements	400,467		$ 385,413
Deferred Tax Asset [Roll Forward]
Deferred tax assets, beginning	410,690
Deferred Tax Assets, Exchanges	10,023
Amortization	(7,314)
Deferred tax assets, ending	421,086		$ 410,690
Follow On Offering
Tax Receivable Agreements [Roll Forward]
Establishment of amounts payable under tax receivable agreements	6,534
Deferred Tax Asset [Roll Forward]
Deferred Tax Assets, Exchanges	7,687
Capital Unit [Member]
Tax Receivable Agreements [Roll Forward]
Establishment of amounts payable under tax receivable agreements	$ 8,520
LIBOR
Tax receivable, basis point spread on variable rate (as a percent)	100

Income Taxes and Related Paym65

Income Taxes and Related Payments Income Tax Uncertainties (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 0	$ 0

Accumulated Other Comprehensi66

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized gain on investments, net of tax	$ 0	$ 259
Foreign currency translation gain (loss)	(739)	(1,132)
Accumulated Other Comprehensive Income (Loss)	$ (739)	$ (873)

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, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Weighted Average Number of Shares Outstanding, Diluted	0	0
Net income attributable to APAM	$ 41,274	$ 19,795
Less: Allocation to participating securities	5,924	4,426
Net income available to common stockholders	$ 35,350	$ 15,369
Weighted average shares outstanding	47,360,438	41,019,598
Earnings per share	$ 0.75	$ 0.37

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, 2018	Mar. 31, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-Dilutive Weighted Average Shares Outstanding	29,122,245	34,131,822
Holdings limited partnership units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-Dilutive Weighted Average Shares Outstanding	24,558,161	30,218,943
Unvested restricted share-based awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-Dilutive Weighted Average Shares Outstanding	4,564,084	3,912,879

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Parent investment in consolidated variable interest entity	$ 37,100
Artisan Funds
Related Party Transaction [Line Items]
Eliminated management fees of consolidated investment products	125,362	$ 110,574
Fee waiver / expense reimbursement	$ 109	197
Artisan Funds | Minimum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets	0.625%
Annualized operating expenses maximum percentage of average daily net assets	0.88%
Artisan Funds | Maximum
Related Party Transaction [Line Items]
Management fee percentage of average daily net assets	1.25%
Annualized operating expenses maximum percentage of average daily net assets	1.50%
Artisan Global Funds
Related Party Transaction [Line Items]
Eliminated management fees of consolidated investment products	$ 8,526	6,810
Fee waiver / expense reimbursement	$ 4	17
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%
Privately Offered Funds
Related Party Transaction [Line Items]
Fee waiver / expense reimbursement	$ 9
Management fee threshold for reimbursement, percentage average daily net assets	1.00%
Parent investment in consolidated variable interest entity			$ 32,300
Capital contributions to consolidated investment products			$ 34,600
Management fee revenue recognized on consolidated investment products
Related Party Transaction [Line Items]
Eliminated management fees of consolidated investment products	$ 45	$ 0
Management fee revenue recognized on consolidated investment products | Privately Offered Funds
Related Party Transaction [Line Items]
Eliminated management fees of consolidated investment products	$ 98

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Apr. 26, 2018	Apr. 17, 2018	Apr. 02, 2018	Mar. 01, 2018	Mar. 31, 2018	Mar. 31, 2017
Subsequent Event [Line Items]
Non cash Transaction Initial Establishment of Amounts Payable Under Tax Receivable Agreements					$ 15,054	$ 99,189
Conversion of Stock, Shares Converted				958,288
Deferred Tax Assets, Exchanges					10,023
Subsequent Event
Subsequent Event [Line Items]
Distribution made to limited partner, Cash distributions declared	$ 27,600
Conversion of Stock, Shares Converted			452,628
Deferred Tax Assets, Exchanges			$ 4,400
Tax Receivable Agreement Payments		$ 27,300
Quarterly Cash Dividend | Class A Common Stock | Subsequent Event
Subsequent Event [Line Items]
Common stock, Dividends, Per share, Declared	$ 0.60
Capital Unit [Member]
Subsequent Event [Line Items]
Non cash Transaction Initial Establishment of Amounts Payable Under Tax Receivable Agreements					$ 8,520
Capital Unit [Member] | Subsequent Event
Subsequent Event [Line Items]
Non cash Transaction Initial Establishment of Amounts Payable Under Tax Receivable Agreements			$ 3,800