Associated Capital (AC) 10-K 14 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 01, 2017	Jun. 30, 2016
Entity Information [Line Items]
Entity Registrant Name	Associated Capital Group, Inc.
Entity Central Index Key	1,642,122
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 178,184,681
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		5,053,386
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,196,792

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Revenues
Investment advisory and incentive fees	$ 18,320	$ 12,635
Institutional research services	9,604	8,397
Other revenues	3,303	1,810
Total revenues	31,227	22,842
Expenses
Compensation	30,968	26,343
Stock based compensation	2,464	4,931
Management fee	1,593	(309)
Other operating expenses	8,434	6,189
Total expenses	43,459	37,154
Operating loss	(12,232)	(14,312)
Other income (expense)
Net gain from investments	19,909	8,276
Interest and dividend income	12,669	4,720
Interest expense	(590)	(1,260)
Shareholder-designated contribution	(5,411)	0
Total other income, net	26,577	11,736
Income (loss) before income taxes	14,345	(2,576)
Income tax provision (benefit)	3,876	(1,685)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	10,469	(891)
Net income (loss) attributable to noncontrolling interests	251	(780)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	$ 10,218	$ (111)
Net income (loss) per share attributable to Associated Capital Group, Inc.'s shareholders:
Basic (in dollars per share)	$ 0.41	$ 0
Diluted (in dollars per share)	$ 0.41	$ 0
Weighted average shares outstanding:
Basic (in shares)	24,870	24,887
Diluted (in shares)	25,175	25,170
Actual shares outstanding (in shares)	24,255	25,440

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income (loss)		$ 10,469	$ (891)
Other comprehensive income (loss), net of tax:
Net unrealized gains (losses) on securities available for sale	[1]	4,138	(11,035)
Comprehensive income (loss)		14,607	(11,926)
Less: Comprehensive income (loss) attributable to noncontrolling interests		1,215	(780)
Comprehensive income (loss) attributable to Associated Capital Group, Inc.		$ 13,392	$ (11,146)
[1]	Net of income tax expense (benefit) of $2,319 and ($6,434) for 2016 and 2015, respectively.

CONSOLIDATED STATEMENTS OF COM4

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other comprehensive income/(loss), net of tax:
Net unrealized gains (losses) on securities available for sale, income tax expense (benefit)	$ 2,328	$ (6,434)

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 314,093	$ 205,750
Investments in securities (Including GBL stock with a market value of $135.7 million and $136.4 at December 31, 2016 and December 31, 2015, respectively)	342,797	333,624
Investments in affiliated investment companies	131,645	118,676
Investments in partnerships	129,398	105,051
Receivable from brokers	12,588	56,510
Investment advisory fees receivable	9,784	4,896
Receivable from affiliates	1,523	7,457
Goodwill	3,422	3,254
Other assets	7,353	1,530
Total assets	952,603	836,748
LIABILITIES, NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers	2,396	50,648
Income taxes payable and deferred tax liabilities	6,978	5,669
Compensation payable	17,676	10,926
Securities sold, not yet purchased	9,984	9,623
Mandatorily redeemable noncontrolling interests	0	1,129
Payable to affiliates	1,455	0
Accrued expenses and other liabilities	35,862	1,466
Total liabilities	74,351	79,461
Redeemable noncontrolling interests	4,230	5,738
Commitments and contingencies (Note J)
Equity:
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	1,007,027	999,000
Retained earnings	7,327	2,072
GBL 4% PIK Note	(100,000)	(250,000)
Accumulated comprehensive income (loss)	1,317	(1,857)
Treasury stock, at cost (1,338,432 and 1,500 shares, respectively)	(41,674)	(44)
Total Associated Capital Group, Inc. stockholders' equity	874,022	749,196
Noncontrolling interests	0	2,353
Total equity	874,022	751,549
Total liabilities and equity	952,603	836,748
Class A [Member]
Equity:
Common stock	6	6
Class B [Member]
Equity:
Common stock	$ 19	$ 19

CONSOLIDATED STATEMENTS OF FIN6

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
ASSETS
GBL stock market value	$ 135.7	$ 136.4
Equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	1,339,932	1,500
Class A [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,398,580	6,247,452
Common stock, shares outstanding (in shares)	5,058,648	6,242,952
Class B [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	19,196,792	19,196,792
Common stock, shares outstanding (in shares)	19,196,792	19,196,792
GBL 4% PIK Note [Member]
LIABILITIES, NONCONTROLLING INTERESTS AND EQUITY
Debt instrument, interest rate	4.00%

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Noncontrolling Interests [Member]	Common Stocks [Member]	Parent Company Equity pre Spin-off [Member]	Retained Earnings [Member]	Additional Paid-in Capital [Member]	GBL 4% PIK Note [Member]	Accumulated Comprehensive Income [Member]	Treasury Stock [Member]	Total	Redeemable Noncontrolling Interests [Member]
Balance at Dec. 31, 2014	$ 0	$ 0	$ 573,749	$ 0	$ 0	$ 0	$ 9,178	$ 0	$ 582,927	$ 68,334
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Recapitalization	0	25	(522,758)	0	522,733	0	0	0	0	0
Redemptions of noncontrolling interests	0	0	0	0	0	0	0	0	0	(901)
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	0	0	0	1,036
Consolidation of a consolidated feeder fund and a partnership	0	0	0	0	0	0	0	0	0	996
Deconsolidation of an offshore fund	0	0	0	0	0	0	0	0	0	(63,256)
Net income (loss)	(309)	0	0	(111)	0	0	0	0	(420)	(471)
Net unrealized gains (losses) on securities available for sale, net of income tax expense (benefit)	0	0	0	0	0	0	(11,157)	0	(11,157)	0
Amounts reclassified from accumulated other comprehensive income, net of income tax	0	0	0	0	0	0	122	0	122	0
Stock based compensation expense	0	0	0	0	4,931	0	0	0	4,931	0
Issuance of GBL 4% PIK Note	0	0	0	0	250,000	(250,000)	0	0	0	0
Purchase of treasury stock	0	0	0	0	0	0	0	(44)	(44)	0
Net transfer from GBL	2,662	0	(50,991)	2,183	221,336	0	0	0	175,190	0
Balance at Dec. 31, 2015	2,353	25	$ 0	2,072	999,000	(250,000)	(1,857)	(44)	751,549	5,738
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemptions of noncontrolling interests	0	0		0	0	0	0	0	0	(244)
Contributions from redeemable noncontrolling interests	0	0		0	0	0	0	0	0	250
Deconsolidation of an offshore fund	0	0		0	0	0	0	0	0	(1,811)
Net income (loss)	(46)	0		10,218	0	0	0	0	10,172	297
Net unrealized gains (losses) on securities available for sale, net of income tax expense (benefit)	964	0		0	0	0	3,189	0	4,153	0
Amounts reclassified from accumulated other comprehensive income, net of income tax	0	0		0	0	0	(15)	0	(15)	0
Noncontrolling minority interest	(3,271)	0		0	4,862	0	0	0	1,591	0
Stock based compensation expense	0	0		0	2,464	0	0	0	2,464	0
Increase to paid in capital for the excess of actual tax benefit over recorded RSA tax benefit	0	0		0	701	0	0	0	701	0
Dividends declared ($0.10 per share)	0	0		(4,963)	0	0	0	0	(4,963)	0
Proceeds from payment of GBL 4% PIK Note	0	0		0	0	150,000	0	0	150,000	0
Purchase of treasury stock	0	0		0	0	0	0	(41,630)	(41,630)	0
Balance at Dec. 31, 2016	$ 0	$ 25		$ 7,327	$ 1,007,027	$ (100,000)	$ 1,317	$ (41,674)	$ 874,022	$ 4,230

CONSOLIDATED STATEMENTS OF EQU8

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net unrealized gains (losses) on securities available for sale, income tax (benefit)	$ 2,319	$ (6,503)
Amounts reclassed from accumulated other comprehensive income, income tax (benefit)	$ (9)	$ 69
Dividend declared (in dollars per share)	$ 0.20
GBL 4% PIK Note [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Debt instrument, interest rate	4.00%	4.00%

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating activities
Net income (loss)	$ 10,469	$ (891)
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net gains from partnerships	(11,183)	(4,756)
Depreciation and amortization	17	13
Stock based compensation expense	2,464	4,931
Deferred income taxes	(1,378)	(6,450)
Other-than-temporary loss on available for sale securities	324	216
Donated securities	1,051	73
Gains on sales of available for sale securities	(348)	(25)
(Increase) decrease in assets:
Investments in trading securities	(13,769)	(71,552)
Investments in partnerships:
Contributions to partnerships	(36,367)	(15,169)
Distributions from partnerships	23,199	22,857
Receivable from affiliates	5,934	(7,055)
Receivable from brokers	43,225	(30,008)
Investment advisory fees receivable	(4,907)	(949)
Other assets	(5,465)	17,568
Increase (decrease) in liabilities:
Payable to affiliates	1,455	(4,733)
Payable to brokers	(48,231)	44,516
Income taxes payable and deferred tax liabilities	1,060	2,191
Compensation payable	6,751	1,747
Mandatorily redeemable noncontrolling interests	292	(172)
Accrued expenses and other liabilities	31,995	298
Total adjustments	(3,881)	(46,459)
Net cash provided by (used in) operating activities	6,588	(47,350)
Investing activities
Purchases of available for sale securities	(5,107)	(43,271)
Proceeds from sales of available for sale securities	803	1,013
Return of capital on available for sale securities	189	524
Net cash used in investing activities	(4,115)	(41,734)
Financing activities
Contributions from redeemable noncontrolling interests	250	1,036
Redemptions of redeemable noncontrolling interests	(244)	(901)
Repayment of demand loan with GBL	0	(16,000)
Net transfer from GBL	0	25,190
Dividends paid	(2,504)	0
Purchase of treasury stock	(41,630)	(44)
Proceeds from payment of GBL 4% PIK Note	150,000	0
Net cash provided by financing activities	105,872	9,281
Net increase (decrease) in cash and cash equivalents	108,345	(79,803)
Cash and cash equivalents at beginning of period	205,750	285,530
Increase in cash from consolidation	0	10
Increase (decrease) in cash from deconsolidation	(2)	13
Cash and cash equivalents at end of period	314,093	205,750
Supplemental disclosures of cash flow information:
Cash paid for interest	298	1,428
Cash paid for taxes	$ 2,989	$ 2

CONSOLIDATED STATEMENTS OF CA10

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	Jan. 01, 2016USD ($)	Nov. 30, 2015USD ($)	Nov. 28, 2015USD ($)shares	Apr. 01, 2015USD ($)Fund	Jan. 01, 2015USD ($)	Dec. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)
Non-cash activity:
Dividends accrued on restricted stock awards						$ 88	$ 0
(Decrease) increase in cash and cash equivalents from deconsolidation	$ (1)				$ 13
Decrease in net assets from deconsolidation	(104)				(63,280)
Decrease in redeemable noncontrolling interests from deconsolidation	(105)				$ (63,267)	0	0
Debt instrument, face amount			$ 150,000
Debt instrument, term			5 years
Debt instrument, interest rate			4.00%
Increase in cash and cash equivalent from consolidation				$ 10		$ 0	$ 10
Increase in net assets from consolidation				986
Increase in noncontrolling interests from consolidation				996
Proprietary capital used in funding new partnership				1,000
Third party capital used in funding new partnership				$ 0
Accounting Standards Update 2015-02 [Member]
Non-cash activity:
(Decrease) increase in cash and cash equivalents from deconsolidation	(1)
Decrease in net assets from deconsolidation	(1,705)
Decrease in redeemable noncontrolling interests from deconsolidation	$ (1,706)
Offshore Funds [Member]
Non-cash activity:
Number of funds consolidated | Fund				1
CFFs [Member]
Non-cash activity:
Number of funds consolidated | Fund				1
GBL 4% PIK Note [Member]
Non-cash activity:
Debt instrument, interest rate						4.00%
GBL [Member]
Non-cash activity:
Shares issued in exchange for debt (in shares) | shares			4,400,000
GBL [Member] | GAMCO Note Payable [Member]
Non-cash activity:
Debt instrument, face amount		$ 250,000
Debt instrument, term		5 years
Debt instrument, interest rate		4.00%
Gabelli Securities, Inc. [Member]
Non-cash activity:
Number of AC shares exchanged (in shares) | shares						163,428
Minority ownership interest acquired						6.10%

Organization and Spin-off Trans

Organization and Spin-off Transaction	12 Months Ended
	Dec. 31, 2016
Organization and Spin-off Transaction [Abstract]
Organization and Spin-off Transaction	A. Organization Unless we have indicated otherwise, or the context otherwise requires, references in this report to “Associated Capital Group, Inc.,” “AC Group,” “the Company,” “AC,” “we,” “us” and “our” or similar terms are to Associated Capital Group, Inc., its predecessors and its subsidiaries. We are a Delaware corporation organized to be the parent operating company for the spin-off of GAMCO Investors, Inc.’s (“GAMCO’s” or “GBL’s”) alternative investment management business, institutional research services operations and certain cash and other assets. On November 30, 2015, GAMCO distributed all the outstanding shares of each class of common stock of AC Group on a pro rata one-for-one basis to the holders of each class of GAMCO’s common stock. Prior to the distribution, GAMCO contributed the 93.9% interest it held in Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.) and certain cash and other assets to AC Group. GCIA is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended. During the year ended December 31, 2016, AC purchased the 6.1% of GCIA shares owned by third parties and certain employees in exchange for 163,428 Class A shares of the Company. GCIA is now a wholly owned subsidiary of AC. GCIA and its wholly owned subsidiary, Gabelli & Partners, LLC (“Gabelli & Partners”), collectively serve as general partners, co-general partners, or investment managers to investment funds including limited partnerships and offshore companies (collectively, “Investment Partnerships”), and separate accounts. We primarily manage assets in equity event-driven value strategies, across a range of risk and event arbitrage portfolios. The business earns fees from its advisory assets, and income (loss) from trading and investment portfolio activities. The advisory fees include management and incentive fees. Management fees are largely based on a percentage of the portfolios' levels of assets under management. Incentive fees are based on the percentage of profits derived from the investment performance delivered to clients' invested assets. We operate our institutional research services operations through G.research, LLC (“G.research”).”) doing business as “Gabelli & Company”. G.research is a broker-dealer registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Through G.research, we provide institutional research services as well as act as an underwriter primarily for affiliates of the Company. G.research is regulated by the Financial Industry Regulatory Authority (“FINRA”). G.research's revenues are derived primarily from institutional research services. As of December 31, 2016, G.research was a wholly owned subsidiary of GCIA. However, on January 23, 2017 all of the outstanding membership interests of G.research were transferred to Institutional Services Holdings, LLC, a newly formed Delaware limited liability company and wholly owned subsidiary of AC. In addition, the following transactions were also undertaken in connection with the spin-off: GAMCO issued a promissory note (the “GAMCO Note”) to AC Group in the original principal amount of $250.0 million used to partially capitalize the Company in connection with the spin-off. The GAMCO Note bears interest at 4.0% per annum and has a maturity date of November 30, 2020 with respect to the original principal amount of the GAMCO Note. Interest on the GAMCO Note will accrue from the most recent date for which interest has been paid, or if no interest has been paid, from the effective date of the GAMCO Note; provided, however, that at the election of GAMCO, payment of interest on the GAMCO Note may, in lieu of being paid in cash, be paid, in whole or in part, in kind on the then-outstanding principal amount (a “PIK Amount”). GAMCO will repay all PIK Amounts added to the outstanding principal amount of the GAMCO Note, in cash, on the fifth anniversary of the date on which each such PIK Amount was added to the outstanding principal amount of the GAMCO Note. In no event may any interest be paid in kind subsequent to November 30, 2019. GAMCO may prepay the GAMCO Note prior to maturity without penalty. During the year ended December 31, 2016, AC received principal repayments totaling $150 million on the GAMCO Note. $50 million of the prepayment was applied against the principal amount due on November 30, 2016, $40 million against the principal amount due on November 30, 2017, $30 million against the principal amount due on November 30, 2018, and $30 million against the principal amount due on November 30, 2019. Of the $100 million principal amount outstanding as of December 31, 2016, $10 million is due on November 30, 2017, $20 million is due on November 30, 2018, $20 million is due on November 30, 2019, and $50 million is due on November 30, 2020. In January 2017, GAMCO prepaid an additional $10 million of the GAMCO Note, reducing the principal outstanding to $90 million. In addition, AC Group, through GCIA, owns 4,393,055 shares of GAMCO Class A common stock. The sale was made from GAMCO to GCIA in advance of the spin-off. GCIA paid the purchase price by issuing a note to GAMCO in the principal amount of $150 million (the “GCIA Note”). In connection with the spin-off, AC Group received the GCIA Note from GAMCO and GCIA became a majority-owned subsidiary of AC Group. Consolidated Financial Statements The Company’s combined consolidated statement of income for the eleven months ended November 30, 2015 was derived from the combined consolidated financial statements and accounting records of GAMCO, as the Company was not a standalone public company prior to the spin-off. For the period prior to the spin-off of the Company from GAMCO, the combined consolidated financial statement includes allocations from GAMCO. These allocations may not be reflective of the actual level of assets, liabilities, income or costs which would have been incurred had the Company operated as a separate legal entity apart from GAMCO. The Company’s consolidated statements of financial condition at December 31, 2016 and 2015, and the Company's consolidated statement of income for the one month ended December 31, 2015 are presented based on our actual results as a stand-alone public company subsequent to our spin-off. References within these Notes to the consolidated financial statements for the year ended December 31, 2016 and the combined consolidated statements of income, comprehensive income, equity, and cash flows for the year ended December 31, 2015 shall hereinafter be referred to as the consolidated statements of income, comprehensive income, equity, and cash flows or consolidated financial statements. All intercompany transactions and balances have been eliminated. Subsidiaries are fully consolidated from the date the Company obtains control and continue to be consolidated until the date that such control ceases. The Company’s principal market is in the United States.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Significant Accounting Policies [Abstract]
Significant Accounting Policies	B. Significant Accounting Policies Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills and Notes with maturities of three months or less at the time of purchase are also considered cash equivalents. Investments in Securities Investments in securities are accounted for as either “trading securities” or “available for sale” and are stated at fair value. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designations as of each balance sheet date. U.S. Treasury Bills and Notes with maturities of greater than three months at the time of purchase are considered investments in securities. Securities that are not readily marketable are stated at their estimated fair values in accordance with GAAP. A substantial portion of investments in securities are held for resale in anticipation of short-term market movements and therefore are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings in net gain from investments on the consolidated statements of income. Available for sale (“AFS”) investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of other comprehensive income (loss) on the consolidated statements of comprehensive income (loss) except for losses deemed to be other than temporary which are recorded as realized losses on the consolidated statements of income. Securities transactions and any related gains and losses are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the specific identified cost basis and are included in net gain from investments on the consolidated statements of income. AFS securities are evaluated for other than temporary impairments each reporting period, and any impairment charges are recorded in net gain from investments on the consolidated statements of income. Management reviews all AFS securities whose cost exceeds their fair value to determine if the impairment is other than temporary. Management uses qualitative factors such as diversification of the investment, the intent to hold the investment, the amount of time that the investment has been impaired and the severity of the decline in determining whether the impairment is other than temporary. Securities sold, not yet purchased are recorded on the trade date, and are stated at fair value and represent obligations of the Company to purchase the securities at prevailing market prices. Therefore, the future satisfaction of such obligations may be for an amount greater or less than the amounts recorded on the consolidated statements of financial condition. The ultimate gains or losses recognized are dependent upon the prices at which these securities are purchased to settle the obligations under the sales commitments. Realized gains and losses from covers of securities sold, not yet purchased transactions are included in net gain from investments on the consolidated statements of income. Unrealized gains and losses on securities sold, not yet purchased are reported in current period earnings in net gain from investments on the consolidated statements of income. Fair Value of Financial Instruments All of the instruments within investments in securities are measured at fair value. The Company’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the Financial Accounting Standards Board’s (“FASB”) guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: · Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities at the reporting date. Level 1 asset includes cash equivalents, government obligations, open-end mutual funds, closed-end funds and equities. · Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities that are not active and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly-quoted intervals. Assets that generally are included in this category may include certain limited partnership interests in private funds and over the counter derivatives that have inputs to the valuations that can generally be corroborated by observable market data. · Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets included in this category generally include equities that trade infrequently and direct private equity investments held within consolidated partnerships. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Investments are transferred into or out of any level at their beginning period values. The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. The valuation process and policies reside with the financial reporting and accounting group which reports to the Chief Financial Officer of the Company. The Company uses the “market approach” valuation technique to value investments in Level 3 investments. The Company’s valuation of the Level 3 investments has been based upon either i) the recent sale prices of the issuer’s equity securities or ii) the net assets, book value or cost basis of the issuer when there are no recent sales prices available. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that the market is willing to pay for an asset. Ask prices represent the lowest price that the market is willing to accept for an asset. Cash equivalents Investments in securities Investments in partnerships —T he Company’s investments include those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting and certain investments in consolidated feeder funds. Based upon the guidance outlined in Accounting Standards Update (“ASU”) No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), investments in partnerships, measured using NAV as a practical expedient, are not classified in the fair value hierarchy. Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of advisory fees due from certain affiliates. Payables to affiliates primarily consist of expenses paid by affiliates on behalf of the Company pursuant to the Transitional Services Agreement with GAMCO. See Note G. Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts arising from the purchases and sales of securities as well as cash amounts held in anticipation of investment. Consolidation In February 2015, the Financial Accounting Standards Board (“FASB”) issued new consolidation guidance which changed the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The Company elected to adopt this new guidance with an effective date of adoption of January 1, 2016. Restatement of prior period results is not required. Amounts presented for the year ended December 31, 2016 in the consolidated statements of income reflect the adoption of this accounting guidance as of January 1, 2016. Pursuant to the consolidation guidance, the Company first evaluates whether it holds a variable interest in an entity. Fees that are customary and commensurate with the level of services provided, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered a variable interest. The Company factors in all economic interests including proportionate interests through related parties, to determine if such interests are considered a variable interest. For entities where the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether each of those entities qualify as a variable interest entity (“VIE”). The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and therefore certain of the Company’s funds may qualify as VIEs under the variable interest model whereas others may qualify as voting interest entities (“VOEs”) under the voting interest model. The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. Under the variable interest model, the Company consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When the Company alone is not considered to have a controlling financial interest in the VIE but the Company and its related parties under common control in the aggregate have a controlling financial interest in the VIE, the Company will be deemed the primary beneficiary if it is the party that is most closely associated with the VIE. When the Company and its related parties not under common control in the aggregate have a controlling financial interest in the VIE, the Company would be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of the Company. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. Investments and redemptions (either by the Company, related parties or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. Assets and liabilities of the consolidated VIEs are included within the consolidated statements of financial condition and are separately disclosed in Note D. Under the voting interest model, the Company consolidates those entities it controls through a majority voting interest. The Company does not consolidate those VOEs in which substantive kick-out rights have been granted to the unrelated investors to either dissolve the fund or remove the general partner. Equity Method Investments Substantially all of the Company’s equity method investees are entities that record their underlying investments at fair value. Therefore, under the equity method of accounting, the Company’s share of the investee’s underlying net income predominantly represents fair value adjustments in the investments held by the equity method investees. The Company’s share of the investee’s underlying net income or loss is based upon the most currently available information and is recorded as “Net gain from investments” on the consolidated statements of income. Capital contributions are recorded as an increase in investments when paid, while withdrawals and distributions are recorded as reductions of the investments when received. Depending on the terms of the investment, the Company may be restricted as to the timing and amounts of withdrawals. See Note D. Investments in Partnerships, Offshore Funds and Variable Interest Entities for more detail as to the number and types of entities consolidated as well as the impact on the consolidated statements of financial condition and consolidated statements of income. Investments in Partnerships and Affiliates The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities (“unaffiliated entities”). Given that we are not a general partner or investment manager in any of the unaffiliated entities, we do not earn any management or incentive fees/allocation and we do not have a controlling financial interest; thus, we do not currently consolidate any unaffiliated entities. Our balance sheet caption “Investments in partnerships” includes those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting and certain investments in consolidated feeder funds (“CFFs”) that the Company accounts for at fair value, as described below. For CFFs that own 100% of their offshore master funds, the Company retains the CFF’s specialized investment company accounting (i.e., the CFFs account for their investment in master funds at fair value). The Company records noncontrolling interests in consolidated entities for which the Company’s ownership is less than 100%. Refer to Noncontrolling Interests section within this Note B for additional disclosures. Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and are included in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company will enter into hedging transactions to manage its exposure to foreign currencies and equity prices related to its proprietary investments. During 2016 and 2015, the Company had derivative transactions which resulted in net gains of $143,000 and $264,000, respectively. At December 31, 2016 and 2015, we held derivative contracts on 16,000 equity shares and 250,000 equity shares, respectively, and the net fair value was $90,000 and $149,000, respectively, and is included as investments in securities on the consolidated statements of financial condition. These transactions are not designated as hedges for accounting purposes, and changes in fair values of these derivatives are included in net gain from investments on the consolidated statements of income and included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. Securities Transactions The Company also generates investment gains or losses from its proprietary trading activities which are included in net gain from investments on the consolidated statements of income. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designation as of the date of each consolidated statement of financial condition. Investments in United States Treasury Bills and Notes with maturities of greater than three months at the time of purchase are classified as investments in securities, and those with maturities of three months or less at the time of purchase are classified as cash equivalents. The portion of investments in securities held for resale in anticipation of short-term market movements are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings. AFS investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of equity except for losses deemed to be other than temporary (“OTT”) which are recorded as realized losses in the consolidated statements of income. Major Revenue-Generating Services and Revenue Recognition Advisory fees from investment partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in receivables from affiliates on the consolidated statements of financial condition. Revenues from investment partnerships and offshore funds also generally include either an incentive fee/allocation on the absolute gain in a portfolio or a fee of 20% of the economic profit as defined in the partnership agreement and is included in investment advisory and incentive fees on the consolidated statements of income. The incentive allocation or fee is generally recognized at the end of the measurement period, which is annually, and amounts receivable are included in either receivables from affiliates or investment advisory fees receivable on the consolidated statements of financial condition. Institutional research services includes commission revenues, sales manager fees and underwriting fees and amounts receivable are included in receivables from brokers and clearing organizations on the consolidated statements of financial condition. Related clearing charges are recorded on a trade-date basis, and are included in other operating expenses on the consolidated statements of income. Underwriting fees include underwriting revenues and syndicate profits and are accrued as earned. Underwriting fees include gains, losses, selling concessions and fees, net of syndicate expenses, arising from securities offerings in which the Company acts as underwriter or agent. Effective January 1, 2014, the Company, through G.research, entered into agreements with two affiliates, GAMCO Asset Management Inc. and Gabelli Funds, LLC, to provide each affiliate with the same types of research services that it provides to its other clients. The agreements call for the two affiliates to pay a research services fee. The annual fee amounts are determined by negotiations between the Company and each entity that utilizes the Company’s research. Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four to seven years. For the years ended December 31, 2016 and 2015, depreciation was $17,000 and $13,000, respectively, on fixed assets with a cost of $85,000 and $57,000, respectively, and a net book value of $55,000 and $19,000, respectively. We estimate that depreciation will be approximately $17,000 annually over the next three years. As of December 31, 2016 and 2015, the Company wrote off assets in the amount of $25,000 and $2,000, respectively, that were fully depreciated and had been retired. Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by other affiliates and are included in other operating expenses on the consolidated statements of income. These overhead expenses primarily relate to centralized functions including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management functions. These overhead expenses are allocated to the Company by other affiliates or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, with the remainder allocated based on revenue, headcount, space or other methodologies periodically reviewed by the management of the Company and the affiliates. In addition, GCIA and GAMCO serve as paymasters under compensation payment sharing agreements. This includes compensation expense and related payroll taxes and benefits which are fully paid by the Company for professional staff performing duties related to the Company and affiliates. These compensation expenses are included in compensation on the consolidated statements of income. All of the allocations and estimates in these financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not be indicative of the actual expenses we would have incurred or may incur in the future. Management Fee Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the various consolidated feeder funds and partnerships, is paid to the Executive Chairman or his designated assignees in accordance with his employment agreement. Stock Based Compensation The Company maintains one Plan approved by the shareholders, which is designed to provide incentives which will attract and retain individual’s key to the success of AC through direct or indirect ownership of our common stock. Benefits under the Plan may be granted in any one or a combination of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents and other stock or cash based awards. A maximum of 2.0 million shares of Class A Stock have been reserved for issuance under the Plans by a committee of the Board of Directors responsible for administering the Plans (“Compensation Committee”). Under the Plan, the committee may grant RSAs and either incentive or nonqualified stock options with a term not to exceed ten years from the grant date and at an exercise price that the committee may determine. On November 30, 2015, in connection with the spin-off of the Company from GAMCO, the Company issued 554,100 AC RSA shares to GAMCO employees (including GAMCO employees who became AC employees) who held 554,100 GAMCO RSA shares at that date. The purpose of the issuance was to ensure that any employee who had GAMCO RSAs were granted an equal number of AC RSAs so that the total value of the RSAs post-spin-off was equivalent to the total value pre-spin-off. In accordance with GAAP, we have allocated the stock compensation costs between GAMCO and AC based upon each employee’s individual allocation of their responsibilities between GAMCO and AC. As of December 31, 2016, there were 424,340 AC RSA shares outstanding. All grants of the RSA shares were recommended by the Company's Executive Chairman, who did not receive a RSA, and approved by the Compensation Committee. This expense, net of estimated forfeitures, is recognized over the vesting period for these awards which is either (1) 30% over three years from the date of grant and 70% over five years from the date of grant or (2) 30% over three years from the date of grant and 10% each year over years four through ten from the date of grant. During the vesting period, dividends to RSA holders are held for them until the RSA vesting dates and are forfeited if the grantee is no longer employed by the Company on the vesting dates. Dividends declared on these RSAs, less estimated forfeitures, are charged to retained earnings on the declaration date. Goodwill Goodwill is initially measured as the excess of the cost of the acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th and whenever certain triggering events are met. In assessing the recoverability of goodwill for the subsidiary’s annual impairment test on November 30, 2016 and 2015, we performed a qualitative assessment of whether it was more likely than not that an impairment has occurred and concluded that a quantitative analysis was not required. As part of this assessment, it was also determined that there was no risk of failing the quantitative impairment testing step that compares the subsidiary fair value to its carrying value. No impairment was recorded during 2016 or 2015. Income Taxes For purposes of the preparation of the consolidated financial statements, the provision for income taxes is computed using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. A valuation allowance would be recorded to reduce the carrying value of deferred tax assets to the amount that is more likely than not to be realized. In making such a determination of whether a valuation allowance is necessary, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that the Company would be able to realize the Company’s deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with ASC Topic 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes the accrual of interest on uncertain tax positions and penalties in income tax provision on the consolidated statements of income. Accrued interest and penalties on uncertain tax positions are included within accrued expenses and other liabilities on the consolidated statements of financial condition. Noncontrolling Interests Noncontrolling interests that are mandatorily redeemable upon a certain date or event occurring are classified as liabilities and relate to certain stockholders of GCIA who are employed by GAMCO, or its affiliates, who are required to sell their shares back to GCIA at book value once they cease being employed by GAMCO, or its affiliates. During the year ended December 31, 2016, AC purchased the outstanding 1.9% of GCIA shares owned by certain employees of GAMCO in exchange for 50,964 Class A shares of the Company in the amount of $1.5 million, which eliminated the mandatorily redeemable noncontrolling interest. Noncontrolling interests in investment partnerships and offshore funds that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the consolidated statements of financial condition between liabilities and equity. All other noncontrolling interests, which included the 4.2% GCIA shares owned by third parties, are classified as equity and are presented within the equity section, separately from AC’s portion of equity. For the years ended December 31, 2016, and 2015, net income (loss) attributable to noncontrolling interests on the consolidated statements of income represents the share of net income (loss) attributable to the minority stockholders, as reported on a separate company basis, of our consolidated majority-owned subsidiaries and net income (loss) attributable to certain limited partners of investment partnerships and offshore funds that are consolidated. The income (loss) attributable to the mandatorily redeemable noncontrolling interests classified as liabilities prior to the Company’s purchase of the outstanding 1.9% of GCIA shares owned by certain employees of GAMCO is included in other operating expenses on the consolidated statements of income. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, the GAMCO Note, and receivable from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. Government, and has receivables from brokers with various brokers and financial institutions, where these balances can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees/allocation, which are included in investment advisory fees receivable and receivables from affiliates on the consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third party brokers or custodians. Net transfer from GBL Net transfer from GBL in the consolidated financial statements represents the net effect of transactions with and allocations from GAMCO prior to the spin-off. Business Segment The Company operates in one business segment, the investment advisory and asset management business. The Company’s Chief Operating Decision Maker reviews the Company’s financial performance at an aggregate level. All of the products and services provided by the Company relate to asset management. Recent Accounting Developments In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in the Accounting Standards Codification ("ASC") Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the ASC. The core principle of the new ASU No. 2014-09 is for companies to recognize revenue from the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods and is either applied on a retrospective or modified retrospective basis. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern,” which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements. Further, an entity must provide certain disclosures if there is “substantial doubt about the entity’s ability to continue as

Investment in Securities

Investment in Securities	12 Months Ended
	Dec. 31, 2016
Investment in Securities [Abstract]
Investment in Securities	C. Investments in Securities Investments in securities at December 31, 2016 and 2015 consisted of the following: 2016 2015 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ 119,755 $ 119,823 $ 99,897 $ 99,940 Common stocks 69,503 82,158 78,974 92,194 Mutual funds 2,402 3,143 2,578 3,216 Other investments 1,275 1,472 570 771 Total trading securities 192,935 206,596 182,019 196,121 Available for sale securities: Common stocks 150,000 135,701 150,000 136,360 Mutual funds 206 500 627 1,143 Total available for sale securities 150,206 136,201 150,627 137,503 Total investments in securities $ 343,141 $ 342,797 $ 332,646 $ 333,624 Securities sold, not yet purchased at December 31, 2016 and 2015 consisted of the following: 2016 2015 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 9,583 $ 9,947 $ 10,095 $ 9,537 Other investments 27 37 24 86 Total securities sold, not yet purchased $ 9,610 $ 9,984 $ 10,119 $ 9,623 2016 2015 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,096 $ 45,351 $ 40,097 $ 43,133 Total trading securities 40,096 45,351 40,097 43,133 Available for sale securities: Closed-end funds 62,890 80,650 62,070 72,591 Mutual funds 4,396 5,644 1,846 2,952 Total available for sale securities 67,286 86,294 63,916 75,543 Total investments in affiliated registered investment companies $ 107,382 $ 131,645 $ 104,013 $ 118,676 The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") and into net income/(loss) for the years ended December 31, 2016 and 2015 (in thousands): Amount Affected Line Item Reason for Reclassified in the Statements Reclassification from AOCI of Income from AOCI Twelve months ended December 31, 2016 2015 $ 348 $ 25 Net gain from investments Realized gains on sale of AFS securities (324 ) (216 ) Net gain from investments Other than temporary impairment of AFS securities 24 (191 ) Income (loss) before income taxes (9 ) 69 Income tax provision $ 15 $ (122 ) Net income (loss) The Company recognizes all equity derivatives as either assets or liabilities measured at fair value and includes them in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company and/or the partnerships and offshore funds that the Company consolidates will enter into hedging transactions to manage their exposure to foreign currencies and equity prices related to their proprietary investments. At December 31, 2016 and December 31, 2015 we held derivative contracts on 16,000 equity shares and 250,000 equity shares, respectively, that are included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. We had no foreign exchange contracts and two foreign exchange contracts outstanding at December 31, 2016 and December 31, 2015, respectively, that are included in receivable from brokers or payable to brokers on the consolidated statements of financial condition. Aside from one foreign exchange contract at December 31, 2015, these transactions are not designated as hedges for accounting purposes, and therefore changes in fair values of these derivatives are included in net gain from investments on the consolidated statements of income. The one foreign exchange contract that was designated as a hedge was for a short of British Pounds to hedge the long investment that we have in our London Stock Exchange listed Gabelli Value Plus+ Trust Ltd. closed-end fund which is denominated in British Pounds. As the underlying investment that was being hedged is an available for sale security, the portion of the change in value of the closed-end fund that is currency related is recorded in net gain from investments on the consolidated statements of income and not in consolidated accumulated comprehensive income (loss). The following tables identify the fair values and gains and losses of all derivatives and foreign currency positions held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition December 31, December 31, Financial Condition December 31, December 31, Location 2016 2015 Location 2016 2015 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ - $ - Payable to brokers $ - $ 37,584 Sub total $ - $ - $ - $ 37,584 Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in Securities sold, securities $ 127 $ 236 not yet purchased $ 37 $ 86 Foreign exchange contracts Receivable from brokers - - Payable to brokers - 5,017 Sub total $ 127 $ 236 $ 37 $ 5,103 Total derivatives $ 127 $ 236 $ 37 $ 42,687 Type of Derivative Income Statement Location Year ended December 31, 2016 2015 Foreign exchange contracts Net gain from investments $ 1,373 $ 2,456 Equity contracts Net gain from investments 143 264 Total $ 1,516 $ 2,720 The Company is a party to enforceable master netting arrangements for swaps entered into as part of the Company's investment strategy. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, major U.S. financial institutions, are shown gross in assets and liabilities on the consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Assets Presented Recognized Statements of in the Statements of Financial Cash Collateral Assets Financial Condition Financial Condition Instruments Received Net Amount Swaps: (In thousands) December 31, 2016 $ 96 $ - $ 96 $ (9 ) $ - $ 87 December 31, 2015 $ 177 $ - $ 177 $ (81 ) $ - $ 96 Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Liabilities Presented Recognized Statements of in the Statements of Financial Cash Collateral Liabilities Financial Condition Financial Condition Instruments Pledged Net Amount Swaps: (In thousands) December 31, 2016 $ 9 $ - $ 9 $ (9 ) $ - $ - December 31, 2015 $ 81 $ - $ 81 $ (81 ) $ - $ - The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments as of December 31, 2016 and 2015: December 31, 2016 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Common stocks $ 150,000 $ - $ (14,299 ) $ 135,701 Closed-end Funds 62,890 17,760 - 80,650 Mutual funds 4,602 1,542 - 6,144 Total available for sale securities $ 217,492 $ 19,302 $ (14,299 ) $ 222,495 December 31, 2015 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Common stocks $ 150,000 $ - $ (13,640 ) $ 136,360 Closed-end Funds 62,070 11,299 (778 ) 72,591 Mutual funds 2,472 1,641 (18 ) 4,095 Total available for sale securities $ 214,542 $ 12,940 $ (14,436 ) $ 213,046 Changes in net unrealized gains (losses), net of taxes, for AFS securities for the years ended December 31, 2016 and 2015 of $3.2 million and ($11.2) million, respectively, have been included in other comprehensive income (loss) at December 31, 2016 and 2015, respectively. The amount reclassified from other comprehensive income (loss) for the years ended December 31, 2016 and 2015 were gains of $0.02 million and losses of $0.1 million, respectively. Return of capital on AFS securities were $0.2 million and $0.5 million for the years ended December 31, 2016 and 2015, respectively. Proceeds from sales of investments available for sale were approximately $0.8 million and $1.0 million for the years ended December 31, 2016 and 2015, respectively. For the years ended December 31, 2016 and 2015, gross gains on the sale of investments available for sale amounted to $0.3 million and $0.03 million, respectively, and were reclassed from other comprehensive loss into the consolidated statements of income. There were no losses on the sale of investments available for sale for the years ended December 31, 2016 and 2015. The basis on which the cost of a security sold is determined is specific identification. Accumulated other comprehensive income (loss) on the consolidated statements of equity is primarily comprised of unrealized gains/losses, net of taxes, for AFS securities. The Company has an established accounting policy and methodology to determine other-than-temporary impairment. Under this policy, AFS securities are evaluated for other than temporary impairments and any impairment charges are recorded in net gain from investments on the consolidated statements of income. Management reviews all AFS securities whose cost exceeds their market value to determine if the impairment is other than temporary. Management uses qualitative factors such as diversification of the investment, the amount of time that the investment has been impaired, the intent to sell and the severity of the decline in determining whether the impairment is other than temporary. Investments classified as AFS that are in an unrealized loss position for which other-than-temporary impairment has not been recognized consisted of the following: December 31, 2016 December 31, 2015 Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value (in thousands) Common Stock $ 150,000 $ (14,299 ) $ 135,701 $ 150,000 $ (13,640 ) $ 136,360 Closed-end Funds - - - 40,627 (778 ) 39,849 Mutual Funds - - - 244 (18 ) 226 Total available for sale securities $ 150,000 $ (14,299 ) $ 135,701 $ 190,871 $ (14,436 ) $ 176,435 At December 31, 2016, there was one holding in a loss position which was not deemed to be other-than-temporarily impaired due to the length of time that it has been consecutively in a loss position and because it passed scrutiny in our evaluation of issuer-specific and industry-specific considerations. This holding was a common stock and was impaired for seven consecutive months. This fair value of this holding has exceeded cost during the year ended December 31, 2016. If this holding was to continue to be impaired, we may need to record impairment in a future period on the consolidated statement of income for the amount of unrealized loss, which at December 31, 2016 was $14.3 million. At December 31, 2015, there were six holdings in loss positions which were not deemed to be other-than-temporarily impaired due to the length of time that they had been in a loss position and because they passed scrutiny in our evaluation of issuer-specific and industry-specific considerations. In these specific instances, five of the investments at December 31, 2015 were mutual funds and closed-end funds with diversified holdings across multiple companies and across multiple industries. Of the fund investments, two holdings were impaired for one month, one for six months, and two for seven months at December 31, 2015. The sixth holding was a common stock and was impaired for one month. The value of these holdings at December 31, 2015 was $176.4 million. If these holdings were to continue to be impaired, we may need to record impairment in a future period on the consolidated statement of income for the amount of unrealized loss, which at December 31, 2015 was $14.4 million. For the years ended December 31, 2016 and 2015, there were $0.3 million and $0.2 million of losses, respectively, on AFS securities deemed to be other than temporary.

Investment in Partnerships, Off

Investment in Partnerships, Offshore Funds and Variable Interest Entities	12 Months Ended
	Dec. 31, 2016
Investment in Partnerships, Offshore Funds and Variable Interest Entities [Abstract]
Investment in Partnerships, Offshore Funds and Variable Interest Entities	D. Investments in Partnerships, Offshore Funds and Variable Interest Entities The Company is general partner or co-general partner of various affiliated entities, in which the Company had investments totaling $112.3 million and $89.3 million at December 31, 2016 and 2015, respectively, whose underlying assets consist primarily of marketable securities (the “affiliated entities”). We also had investments in unaffiliated partnerships, offshore funds and other entities of $17.1 million and $15.8 million at December 31, 2016 and 2015, respectively (the “unaffiliated entities”). We evaluate each entity for the appropriate accounting treatment and disclosure. Certain of the affiliated entities, and none of the unaffiliated entities, are consolidated, as discussed in Note B. For those entities where consolidation is not deemed appropriate, we report them in our consolidated statements of financial condition under the caption “Investments in partnerships”. The caption includes those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting, as well as certain investments that the feeder funds hold that are carried at fair value, as described in Note B. The Company reflects the equity in earnings of these equity method investees and the change in fair value of the consolidated feeder funds under the caption net gain from investments on the consolidated statements of income. The following table highlights the number of entities, including VOEs that we consolidate as well as under which accounting guidance they are consolidated, including CFFs which retain their specialized investment company accounting, and partnerships and offshore funds which we consolidate as described in Note B. Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs Entities consolidated at December 31, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - 1 - 1 1 - 1 2 Deconsolidated entities - (1) - - - (1) - (2) Entities consolidated at December 31, 2015 1 2 - 2 1 - 2 4 Additional consolidated entities - - 1 - - - 1 - Deconsolidated entities (1) (1) - (2) (1) - (2) (3) Entities consolidated at December 31, 2016 - 1 1 - - - 1 1 At and for the year ended December 31, 2016, one CFF VOE is consolidated, as the Company owns a majority of the interests in the CFF. At and for the year ended December 31, 2016, one Partnership VIE is consolidated, as it is a VIE because the unaffiliated partners or shareholders lack substantive kick-out rights and the Company has been determined to be the primary beneficiary because it has an equity interest and absorbs the majority of the expected losses and/or expected gains. At and for the year ended December 31, 2015, the one CFF VIE is consolidated, as the Company has been determined to be the primary beneficiary because it has an equity interest and absorbs the majority of the expected losses and/or expected gains. At and for the year ended December 31, 2015, the one CFF VOE and one Partnership VOE are consolidated because the unaffiliated partners or shareholders lack substantive kick-out rights, and the Company, as either the general partner or investment manager, is deemed to have control. During the year ended December 31, 2015, it was determined that an additional Partnership VOE should be consolidated when the Partnership was created on April 1, 2015 without unaffiliated capital and an Offshore Fund VIE should be consolidated as the last unaffiliated investor withdrew during the second quarter. Additionally, an Offshore Fund VOE was deconsolidated as the Company’s ownership percentage fell below 50%, a CFF VOE was deconsolidated when it was closed and a different CFF VOE was consolidated as the last unaffiliated investor withdrew on March 31, 2015. The following table breaks down the investments in partnerships line by accounting method, either fair value or equity method, and investment type (in thousands): December 31, 2016 Investment Type Affiliated Unaffiliated Accounting method Consolidated Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 8,343 $ - $ - $ - $ - $ 8,343 Equity Method - 33,202 70,745 6,761 10,347 121,055 Total $ 8,343 $ 33,202 $ 70,745 $ 6,761 $ 10,347 $ 129,398 December 31, 2015 Investment Type Affiliated Unaffiliated Accounting method Consolidated Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 13,953 $ - $ - $ - $ - $ 13,953 Equity Method - 39,552 35,746 7,911 7,889 91,098 Total $ 13,953 $ 39,552 $ 35,746 $ 7,911 $ 7,889 $ 105,051 The following table includes the net impact by line item on the consolidated statements of financial condition for each category of entity consolidated: December 31, 2016 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 313,785 $ - $ 308 $ - $ 314,093 Investments in securities (including GBL stock) 336,459 - 6,338 - 342,797 Investments in affiliated investment companies 131,645 - - - 131,645 Investments in partnerships 133,794 3,964 (8,360 ) - 129,398 Receivable from brokers 10,542 - 2,046 - 12,588 Investment advisory fees receivable 9,800 (8 ) (8 ) - 9,784 Other assets 12,298 - - - 12,298 Total assets $ 948,323 $ 3,956 $ 324 $ - $ 952,603 Liabilities and equity Securities sold, not yet purchased $ 9,984 $ - $ - $ - $ 9,984 Accrued expenses and other liabilities 64,317 13 37 - 64,367 Redeemable noncontrolling interests - 3,943 287 - 4,230 Total equity 874,022 - - - 874,022 Total liabilities and equity $ 948,323 $ 3,956 $ 324 $ - $ 952,603 December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 205,708 $ - $ 41 $ 1 $ 205,750 Investments in securities (including GBL stock) 325,692 - 7,849 83 333,624 Investments in affiliated investment companies 118,676 - - - 118,676 Investments in partnerships 109,274 4,506 (8,729 ) - 105,051 Receivable from brokers 53,921 - 2,164 425 56,510 Investment advisory fees receivable 4,881 2 5 8 4,896 Other assets 12,614 5 15 (393 ) 12,241 Total assets $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 Liabilities and equity Securities sold, not yet purchased $ 9,505 $ - $ 118 $ - $ 9,623 Accrued expenses and other liabilities 69,712 28 79 19 69,838 Redeemable noncontrolling interests - 4,485 1,148 105 5,738 Total equity 751,549 - - - 751,549 Total liabilities and equity $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated. The following table includes the net impact by line item on the consolidated statements of income for each category of entity consolidated (in thousands): Twelve Months Ended December 31, 2016 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 31,247 $ (17 ) $ (3 ) $ - $ 31,227 Total expenses 43,285 128 46 - 43,459 Operating loss (12,038 ) (145 ) (49 ) - (12,232 ) Total other income, net 26,086 437 54 - 26,577 Income before income taxes 14,048 292 5 - 14,345 Income tax provision 3,876 - - - 3,876 Net income before NCI 10,172 292 5 - 10,469 Net income attributable to noncontrolling interests (46 ) 292 5 - 251 Net income $ 10,218 $ - $ - $ - $ 10,218 Twelve Months Ended December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 22,883 $ (34 ) $ (7 ) $ - $ 22,842 Total expenses 36,963 114 71 6 37,154 Operating loss (14,080 ) (148 ) (78 ) (6 ) (14,312 ) Total other income (expense), net 11,967 (170 ) (69 ) 8 11,736 Loss before income taxes (2,113 ) (318 ) (147 ) 2 (2,576 ) Income tax provision (1,685 ) - - - (1,685 ) Net loss before NCI (428 ) (318 ) (147 ) 2 (891 ) Net loss attributable to noncontrolling interests (317 ) (318 ) (147 ) 2 (780 ) Net loss $ (111 ) $ - $ - $ - $ (111 ) The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated. Variable Interest Entities We also have sponsored a number of investment vehicles where we are the general partner or investment manager. At December 31, 2016, we consolidated the only VIE. At December 31, 2015, certain vehicles were deemed VIEs prior to the adoption of ASU 2015-02, but we were not the primary beneficiary, because we do not absorb a majority of the entities’ expected losses and/or expected returns, and they were, therefore, not consolidated. We consolidated VIEs where we are the primary beneficiary. The Company has not provided any financial or other support to those VIEs where we are not the primary beneficiary. The total assets of these non-consolidated VIEs at December 31, 2015 were $70.2 million. Our maximum exposure to loss as a result of our involvement with the VIEs is limited to the investment in one VIE and the deferred carried interest that we have in one another. On December 31, 2015, we had an investment in one of the non-consolidated VIE offshore funds of approximately $9.9 million which was included in investment in partnerships on the consolidated statements of financial condition. On December 31, 2015, we had a deferred carried interest in one of the VIE offshore funds of approximately $39,000 which was included in investments in partnerships on the consolidated statements of financial condition. Additionally, as the general partner or investment manager to these VIEs the Company earns fees in relation to these roles, which given a decline in AUMs of the VIEs would result in lower fee revenues earned by the Company which would be reflected on the consolidated statements of income, consolidated statements of comprehensive income, consolidated statements of financial condition and consolidated statements of cash flows. The assets of these VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to these VIEs that are consolidated and were included on the consolidated statements of financial condition as well as the Company’s net interest in these VIEs. One VIE and two VIEs are consolidated at December 31, 2016 and December 31, 2015, respectively: December 31, December 31, 2016 2015 (In thousands) Cash and cash equivalents $ 308 $ 1 Investments in securities 6,338 83 Investments in partnerships - 4,791 Receivable from broker 2,046 425 Other assets (8 ) - Payable to brokers - (6 ) Accrued expenses and other liabilities (37 ) (404 ) Redeemable noncontrolling interests (287 ) (350 ) AC's net interests in consolidated VIE $ 8,360 $ 4,540 Equity Method Investments The Company’s equity method investments include its investments in partnerships and offshore funds. These equity method investments are not consolidated but on an aggregate basis exceed 10% of the Company’s consolidated total assets or income. One equity method investment held by the Company exceeded 20% of the Company’s consolidated total income. The summarized financial information of the Company’s equity method investments for December 31, 2016 and 2015 are as follows: December 31, December 31, 2016 2015 (In millions) Total assets $ 2,137 $ 2,414 Total liabilities 350 301 Total equity 1,787 2,113 For the year 2016 2015 Net loss $ (17 ) $ (18 ) The summarized financial information of the Company’s single equity method investment which exceeded 20% of the Company’s consolidated total income for December 31, 2016 is as follows: For the year 2016 (In thousands) Total investment income $ 2,848 Net investment loss (3,462 ) Net gains on investments 14,192 Net increase in net assets resulting from operations 10,730

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2016
Fair Value [Abstract]
Fair Value	E. Fair Value The following tables present information about the Company’s assets and liabilities by major categories measured at fair value on a recurring basis as of December 31, 2016 and 2015 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2016 (in thousands) Quoted Prices in Active Significant Other Significant Investments Other Assets Balance as of Markets for Identical Observable Unobservable Measured at Not Held at December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2016 Cash equivalents $ 314,082 $ - $ - $ - $ - $ 314,082 Investments in partnerships - - - 125,527 3,871 129,398 Investments in securities (including GBL stock): AFS - Common stocks 135,701 - - - - 135,701 AFS - Mutual funds 500 - - - - 500 Trading - Gov't obligations 119,823 - - - - 119,823 Trading - Common stocks 81,696 1 461 - - 82,158 Trading - Mutual funds 3,143 - - - - 3,143 Trading - Other 1,062 127 283 - - 1,472 Total investments in securities 341,925 128 744 - - 342,797 Investments in affiliated registered investment companies: AFS - Closed-end Funds 80,650 - - - - 80,650 AFS - Mutual Funds 5,644 - - - - 5,644 Trading - Mutual funds 45,351 - - - - 45,351 Total investments in affiliated registered investment companies 131,645 - - - - 131,645 Total investments 473,570 128 744 125,527 3,871 603,840 Total assets at fair value $ 787,652 $ 128 $ 744 $ 125,527 $ 3,871 $ 917,922 Liabilities Trading - Common stocks $ 9,947 $ - $ - $ - $ - $ 9,947 Trading - Other - 37 - - - 37 Securities sold, not yet purchased $ 9,947 $ 37 $ - $ - $ - $ 9,984 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Investments Other Assets Balance as of Markets for Identical Observable Unobservable Measured at Not Held at December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2015 Cash equivalents $ 205,733 $ - $ - $ - $ - $ 205,733 Investments in partnerships - - - 101,454 3,597 105,051 Investments in securities (including GBL stock): AFS - Common stocks 136,360 - - - - 136,360 AFS - Mutual funds 1,143 - - - - 1,143 Trading - Gov't obligations 99,940 - - - - 99,940 Trading - Common stocks 91,686 - 508 - - 92,194 Trading - Mutual funds 3,216 - - - - 3,216 Trading - Other 230 236 305 - - 771 Total investments in securities 332,575 236 813 - - 333,624 Investments in affiliated registered investment companies: AFS - Closed-end Funds 72,591 - - - - 72,591 AFS - Mutual Funds 2,952 - - - - 2,952 Trading - Mutual funds 43,133 - - - - 43,133 Total investments in affiliated registered investment companies 118,676 - - - - 118,676 Total investments 451,251 236 813 101,454 3,597 557,351 Total assets at fair value $ 656,984 $ 236 $ 813 $ 101,454 $ 3,597 $ 763,084 Liabilities Trading - Common stocks $ 9,537 $ - $ - $ - $ - $ 9,537 Trading - Other - 86 - - - 86 Securities sold, not yet purchased $ 9,537 $ 86 $ - $ - $ - $ 9,623 (a) Amounts are comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy (see Note B, Recent Accounting Developments (b) Amounts are comprised of certain equity method investments which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees do not account for both their financial assets and liabilities under fair value measures; therefore, the Company’s investment in such equity method investees may not represent fair value. The following table presents additional information about assets by major categories measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2016 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2015 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 508 $ (47 ) $ - $ - $ (47 ) $ - $ - $ - $ 461 Trading - Other $ 305 (2 ) - - (2 ) - (20 ) - 283 Total $ 813 $ (49 ) $ - $ - $ (49 ) $ - $ (20 ) $ - $ 744 During the year ended December 31, 2016, there were no transfers between Level 1, Level 2 and Level 3 holdings. Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2014 (Losses) in Income Unrealized Gains or In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 1,293 $ (195 ) $ - $ - $ (195 ) $ 6 $ (238 ) $ (358 ) $ 508 Trading - Other $ 294 98 - - 98 5 (80 ) (12 ) 305 Total $ 1,587 $ (97 ) $ - $ - $ (97 ) $ 11 $ (318 ) $ (370 ) $ 813 During the year ended December 31, 2015, there were no transfers between Level 1 and Level 2 holdings. During the year ended December 31, 2015, the Company reclassed approximately $370,000 of investments from Level 3 to Level 1. The reclassifications were due to increased availability of market price quotations and were based on the values at the beginning of the period in which the reclass occurred.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Taxes [Abstract]
Income Taxes	F. Income Taxes For the calendar year 2016, AC and its greater than 80% owned subsidiaries file a consolidated federal income tax return. Accordingly, the income tax provision represents the aggregate of the amount provided for all companies. On November 30, 2015, AC spun-off from GAMCO. Except for the one month period of December 2015 subsequent to our spin-off, for which we independently determine our tax liability, we calculated provision for income taxes by using a “separate return” method. Under this method, we are assumed to file a separate return with the tax authority, thereby reporting our taxable income or loss and paying the applicable tax or receiving the appropriate refund from GAMCO. Our 2015 provision is the amount of tax payable or refundable on the basis of a hypothetical 2015 separate return. We provide deferred taxes on temporary differences and on any carryforwards that we could claim on our hypothetical return and assess the need for a valuation allowance. As a result of the spin-off, the operations of the Company’s subsidiaries are included in the consolidated U.S. federal and certain state and local income tax returns of GAMCO for the first eleven months of the 2015. The Company filed a consolidated U.S. federal and certain state and local income tax returns for the last month of 2015. The Company’s subsidiaries’ federal and certain state and local income taxes were calculated as if the Company’s subsidiaries filed on a separate return basis, and the amount of current and deferred tax or benefit is either remitted to or received from GAMCO for the first eleven months of 2015 or the Company for December 2015 using a benefits for loss approach such that net operating loss (or other tax attribute) is characterized as realized by the Company’s subsidiaries when those tax attributes are utilized in the consolidated tax return of GAMCO or the Company. This is the case even if the Company’s subsidiaries would not otherwise have realized those tax attributes. The provision for income taxes for the years ended December 31, 2016 and 2015 consisted of the following: 2016 2015 (In thousands) Federal: Current $ 5,018 $ 4,540 Deferred (1,231 ) (6,160 ) State and local: Current 236 225 Deferred (147 ) (290 ) Total $ 3,876 $ (1,685 ) A reconciliation of the Federal statutory rate to the effective tax rate is set forth below: 2016 2015 Statutory Federal income tax rate 34.0 % 34.0 % State income tax, net of Federal benefit 1.2 1.6 Dividends received deduction (3.6 ) 26.4 Donation of appreciated securities (4.5 ) 3.2 Noncontrolling interests (0.7 ) 0.0 Other 0.6 0.2 Effective income tax rate 27.0 % 65.4 % Significant components of our deferred tax assets and liabilities are as follows: 2016 2015 (In thousands) Deferred tax assets: Stock compensation expense $ 719 $ 77 Deferred compensation 1,315 871 Investments in securities available for sale 3,652 5,523 Shareholder-designated contribution 1,461 - Other 4 - Total deferred tax assets 7,151 6,471 Deferred tax liabilities: Investments in securities and partnerships (11,103 ) (9,839 ) Other liabilities - (41 ) Total deferred tax liabilities (11,103 ) (9,880 ) Net deferred tax liabilities $ (3,952 ) $ (3,409 ) A reconciliation of the beginning and ending amount of gross unrecognized tax benefits related to uncertain tax positions is as follows: (in thousands) Balance at January 1, 2015 $ 57.1 Additions based on tax positions related to the current year (59.7 ) Additions for tax positions of prior years - Reductions for tax positions of prior years (1.9 ) Settlements (11.2 ) Balance at December 31, 2015 (15.7 ) Additions based on tax positions related to the current year - Additions for tax positions of prior years 125.5 Reductions for tax positions of prior years (9.7 ) Settlements - Balance at December 31, 2016 $ 100.1 The Company records penalties and interest related to tax uncertainties in income taxes. As of December 31, 2016 and 2015, the Company’s had gross unrecognized tax benefits (liabilities) of $100,149 and ($15,678) respectively, of which $66,098 and ($10,347), respectively, if recognized, would impact the Company’s effective tax rate. The Company has accrued liabilities of $94,428 and $83,950 as of December 31, 2016 and 2015, respectively, for interest and penalties. These amounts are included in accrued expenses and other liabilities on the consolidated statements of financial condition. Under the Company’s Tax Indemnity and Sharing Agreement with GAMCO, GAMCO is liable for all income taxes of the Company for periods prior to the spin-off from GAMCO. Income tax expense for such periods is based on the taxable income of the Company on a separate tax return basis. The Company is not currently under audit by any tax jurisdiction.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	G. Related Party Transactions The following is a summary of certain related party transactions. GGCP Holdings LLC owns a majority of our Class B Stock, representing approximately 94% of the combined voting power and 76% of the outstanding shares of our common stock at December 31, 2016. Loans with GAMCO GCIA entered into a $15 million demand loan with GAMCO on March 15, 2004 at a rate of 5.5% per year. On February 28, 2007, GCIA paid back $5 million to GAMCO. GCIA entered into an additional demand loan for $16 million with GAMCO on August 17, 2010 at a rate of 5.5% per year. On March 7, 2014, GCIA repaid $10 million of the loan to GAMCO. On December 28, 2015, GCIA repaid the remaining $16 million balance owed to GAMCO. As of December 31, 2015, there are no demand loans outstanding with GAMCO. The interest was $0.9 million in 2015 and is included in interest expense on the consolidated statements of income. On November 27, 2015, GCIA purchased from GAMCO 4.4 million shares of GAMCO Class A common stock in exchange for a five-year 4% note payable of $150 million (“GCIA Note”). As part of the spin-off of AC from GAMCO on November 30, 2015, GAMCO contributed the GCIA Note to AC. During 2015, GCIA paid to GAMCO $66,000 of interest which is included in interest expense on the consolidated statements of income. The GCIA Note is thus now an intercompany note within the AC Group. GAMCO issued the GAMCO Note to AC Group in the original principal amount of $250.0 million used to partially capitalize the Company in connection with the spin-off. During the year ended December 31, 2016, AC received principal repayments totaling $150 million on the GAMCO Note. $50 million of the prepayment was applied against the principal amount due on November 30, 2016, $40 million against the principal amount due on November 30, 2017, $30 million against the principal amount due on November 30, 2018, and $30 million against the principal amount due on November 30, 2019. Of the $100 million principal amount outstanding, $10 million is due on November 30, 2017, $20 million is due on November 30, 2018, $20 million is due on November 30, 2019, and $50 million is due on November 30, 2020. Related i nterest income of $7.8 million is included in interest and dividend income on the consolidated statements of income . See Note A. Organization. Investment in Securities At December 31, 2016 and 2015, approximately $39 million and $41 million, respectively, of our proprietary investment accounts, which were included in investments in securities on the consolidated statements of financial condition, were managed by our analysts or portfolio managers other than Mr. Mario Gabelli. The individuals managing these accounts receive 20% of the net profits, if any, earned on the accounts. In August 2006, a son of the Executive Chairman was given responsibility for managing a proprietary investment account, on which he would be paid, on an annual basis, 20% of any net profits earned on the account for the year. The account was initially funded with approximately $40 million during 2006, and subsequent withdrawals have totaled $40 million from 2009 through 2016. The balance in the account at December 31, 2016 and 2015 was $14.6 million and $13.7 million, respectively, of which $2.7 million and $2.4 million, respectively, is owed to the portfolio manager representing his earnings that have been re-invested in the account. For 2016 and 2015, this account was up 6.6% and 2.4%, respectively, and therefore he earned approximately $0.1 million and $0.1 million, respectively, for managing this account. For the year ended December 31, 2016, the Company recorded dividend income of $0.4 million relating to its investment in GAMCO common stock, which is included in interest and dividend income on the consolidated statements of income. At December 31, 2016 and 2015, the Company had investments of $314.1 million and $205.7 million, respectively, invested in the Gabelli U.S. Treasury Money Market Fund, which is recorded in cash and cash equivalents on the consolidated statements of financial condition. Investments in affiliated equity mutual funds (“Funds”), which are advised by Gabelli Funds, LLC and Teton Advisors, Inc., which is majority-owned by GGCP Holdings, LLC, which is also the majority stockholder of GAMCO, at December 31, 2016 and 2015 totaled $132.1 million and $119.8 million, respectively, and are included in either investments in securities or investments in affiliated registered investment companies on the consolidated statements of financial condition. Investment in Partnerships We had an aggregate investment in affiliated partnerships and offshore funds of approximately $112.3 million and $89.3 million at December 31, 2016 and 2015, respectively. Investment Advisory Services Gabelli Securities International Limited (“GS International”) was formed in 1994 to provide management and investment advisory services to offshore funds and accounts. Marc Gabelli, a director of the Company, owns 55% of GS International, and GCIA owns the remaining 45%. In 1994, Gabelli International Gold Fund Limited (“GIGFL”), an offshore investment company investing primarily in securities of issuers with gold-related activities, was formed and GS International entered into an agreement to provide management services to GIGFL. GCIA in turn entered into an agreement with GS International to provide investment advisory services to GIGFL in return for receiving all investment advisory fees paid by GIGFL. Pursuant to such agreement, GCIA earned no investment advisory fees or incentive fees for 2016. Comparable amounts for 2015 were $3,304 and no incentive fee. As of December 31, 2016 and 2015, there were $0, and $7,904, respectively, payable to GIGFL included in payables to affiliates on the consolidated statements of financial condition relating to advisory fees. In April 1999, GCIA formed Gabelli Global Partners, L.P., an investment limited partnership for which GCIA and Gemini are the general partners. In March 2002, Gabelli Global Partners, L.P. changed its name to Gemini Global Partners, L.P. Gemini and GCIA are each due half of the advisory fee earned by the partnership to the general partners in the amount of $63,196 and $70,345 for 2016 and 2015, respectively. In 2016 and 2015, there were no incentive fees earned. As of December 31, 2016 and 2015, there were $201,065 payable and $168,311 receivable, respectively, from Gemini Global Partners, L.P. included in payables to affiliates and receivables from affiliates, respectively, on the consolidated statements of financial condition. Compensation Prior to the spin-off, the amount of management fee reflected on the financial statements is a carve-out from the historical GAMCO consolidated financial statements. Under this methodology, the management fee expense was a contra-expense. Subsequent to the spin-off on November 30, 2015, and in accordance with Mr. Gabelli’s employment agreement, the Company will pay the Executive Chairman, or his designated assignee, a monthly management fee equal to 10% of the Company’s pretax profits before consideration of this fee and before consolidation of the various consolidated feeder funds and partnerships discussed in Note D. In no circumstances will this fee be a contra-expense to the Company subsequent to the spin-off on November 30, 2015. In 2016 and 2015, the Company recorded management fee expense or (contra-expense) of $1.6 million and ($0.3) million, respectively. These fees are recorded as management fee on the consolidated statements of income. Income Taxes As a result of the spin-off, the operations of the Company’s subsidiaries were included in the consolidated U.S. federal and certain state and local income tax returns of GAMCO for the first eleven months of the 2015. The Company filed consolidated U.S. federal and certain state and local income tax returns for the last month of 2015. The Company’s subsidiaries’ federal and certain state and local income taxes are calculated as if the Company’s subsidiaries filed on a separate return basis, and the amount of current and deferred tax or benefit is either remitted to or received from GAMCO for the first eleven months of 2015 or the Company for December 2015 using a benefits for loss approach such that net operating loss (or other tax attribute) is characterized as realized by the Company’s subsidiaries when those tax attributes are utilized in the consolidated tax return of GAMCO or the Company. This is the case even if the Company’s subsidiaries would not otherwise have realized those tax attributes. Affiliated Receivables/Payables At December 31, 2016, the receivable from affiliates consists primarily of SICAV net revenues due from Gabelli Funds, LLC (see Other At December 31, 2016, the payable to affiliates primarily consisted of expenses paid by affiliates on behalf of the Company pursuant to the Transitional Services Agreement . GAMCO Capital Lease On December 5, 1997, GAMCO entered into a fifteen-year lease, expiring on April 30, 2013, of office space at 401 Theodore Fremd Ave, Rye, NY from M4E, LLC, an entity owned by the adult children of the Executive Chairman. On September 15, 2008, GAMCO modified and extended this lease to December 31, 2023, and on June 11, 2013, GAMCO further modified and extended this lease to December 31, 2028. The Company paid $77,444 and $310,566 to GAMCO in 2016 and 2015, respectively, for its use of the Rye location. In June 2016, AC entered into a sublease agreement with GAMCO effective from April 1, 2016 through March 31, 2017. Pursuant to this agreement, AC and its subsidiaries shall pay a monthly fixed lease amount based on the percentage of square footage occupied by its employees (including pro rata allocation of common space) for the duration of the lease. For the nine months ended December 31, 2016, the Company paid $276,238. The amounts are included within other operating expenses on the consolidated statements of income. Other In 2016 and 2015, the Company earned $5.2 million and $4.9 million, respectively, or 63% and 59%, respectively, of its commission revenue, which is included in institutional research services on the consolidated statements of income, from transactions executed on behalf of Funds and private wealth management clients advised by GAMCO Asset Management Inc., a wholly-owned subsidiary of GAMCO. As required by the Company’s Code of Ethics, staff members are required to maintain their brokerage accounts at G.research unless they receive permission to maintain an outside account. G.research offers its entire staff the opportunity to engage in brokerage transactions at discounted commission rates. Accordingly, many of our staff members, including the executive officers or entities controlled by them, have brokerage accounts at G.research and have engaged in securities transactions at discounted rates. Pursuant to research services agreements (see Note B), GAMCO Asset Management Inc. paid $1.5 million and $0.7 million and Gabelli Funds, LLC paid $1.5 million and $0.8 million to the Company for the years ended December 31, 2016 and 2015, respectively. During 2016, the Company participated as agent in the at the market offerings of The Gabelli Global Gold, Natural Resources & Income Trust (“GGN”) and The Gabelli Healthcare & WellnessRx Trust 5.875% Series B Cumulative Preferred Stock (“GRX Series B”). Pursuant to sales agreements between the parties, the Company earned sales manager fees related to these offerings of $1,178,330 and $5,495 for GGN and GRX Series B, respectively, which are included in institutional research services on the consolidated statements of income. There were no sales manager fees earned from GGN or GRX offerings during 2015. Throughout 2016, the Company participated in five preferred stock offerings of certain GAMCO closed-end funds. In March 2016, the Company acted as co-underwriter in The Gabelli Equity Trust 5.45% Series J Cumulative Preferred Stock offering. During May 2016, the Company acted as co-underwriter in The Gabelli Global Small and Mid Cap Value Trust 5.45% Series A Cumulative Preferred Stock and The Gabelli Utility Trust 5.375% Series C Cumulative Preferred Stock offerings. In June and August 2016, the Company acted as co-underwriter in The Gabelli Dividend & Income Trust 5.25% Series G Cumulative Preferred Stock and Bancroft Fund Ltd. 5.375% Series A Preferred Stock offerings, respectively. Underwriting fees and selling concessions, net of expenses, related to the launch of these funds were $420,252 and are included in either institutional research services or other revenue on the consolidated statements of income. On July 27, 2011, the Company entered into a Distribution Agreement with G.distributors, LLC ("G.distributors"), a subsidiary of GAMCO. As stated in the Distribution Agreement, the Company is the broker of record for certain ongoing client relationships for which it earns distribution fees. Subsequent to July 31, 2011, the Company recorded distribution fees revenue of $0.3 million in 2015 in relation to this role. On July 1, 2015, these mutual fund distribution assets were transferred out of the Company. On June 30, 2015, G.research, LLC was formed as a single member LLC of Distributors Holdings, Inc. (“DHI”), a 100% subsidiary of GCIA, to transfer the distribution assets of G.research, Inc. through a series of steps to G.distributors. On July 1, 2015, G.research, Inc. was merged into G.research, LLC. As a result of the merger, a deferred tax liability of $1,937,670 was transferred to G.research, LLC’s sole member, DHI, resulting in a capital contribution to G.research, LLC. The distribution assets were then transferred from G.research, LLC to DHI for their fair value of $234,000, also resulting in a capital contribution to G.research, LLC. DHI transferred G.research, LLC to GCIA resulting in a deferred tax asset of $88,227 (tax effect of the transferred distribution assets of $234,000) to be recorded on DHI’s books and a deferred tax liability of $88,227 to be recorded on the books of G.research, LLC. GCIA transferred DHI to GAMCO Asset Management Inc. GAMCO Asset Management Inc. subsequently transferred its 100% owned subsidiary, G.distributors, to DHI. DHI then transferred the distribution assets to G.distributors. Pursuant to an agreement between the Company and Gabelli Funds, LLC, Gabelli Funds, LLC pays to GCIA 90% of the net revenues received by Gabelli Funds, LLC related to being the advisor to the SICAV. Net revenues is defined as gross advisory fees less expenses related to payouts and expenses of the SICAV paid by Gabelli Funds, LLC. The amounts paid by Gabelli Funds, LLC to GCIA for 2016 and 2015 are $2,708,084 and $1,007,164, respectively, and are included in investment advisory and incentive fees on the consolidated statements of income. As general partner or co-general partner of various affiliated limited partnerships, the Company receives a management fee based on a percentage of each partnership’s net assets and a 20% incentive allocation based on economic profits.

Stockholders Equity

Stockholders Equity	12 Months Ended
	Dec. 31, 2016
Stockholders Equity [Abstract]
Stockholders Equity	H. Equity Voting Rights The holders of Class A Stock and Class B Stock have identical rights except that (i) holders of Class A Stock are entitled to one vote per share, while holders of Class B Stock are entitled to ten votes per share on all matters to be voted on by shareholders in general, and (ii) holders of Class A Stock are not eligible to vote on matters relating exclusively to Class B Stock and vice versa. Stock Award and Incentive Plan There were no RSAs issued by AC during 2016. There were no RSAs issued by either GAMCO or AC during 2015, except in relation to the spin-off. On November 30, 2015, in connection with the spin-off, the Company issued 554,100 AC RSA shares to GAMCO employees (including GAMCO employees who became AC employees) who held 554,100 GAMCO RSA shares at that date. The purpose of the issuance was to ensure that any employee who had GAMCO RSAs were granted an equal number of AC RSAs so that the total value of the RSAs post-spin-off was equivalent to the total value pre-spin-off. As of December 31, 2016, there were 424,340 AC RSA shares outstanding and 424,340 GAMCO RSA shares outstanding. As of December 31, 2015, there were 553,100 AC RSA shares outstanding and 553,100 GAMCO RSA shares outstanding. In accordance with GAAP, we have allocated the stock compensation costs between GAMCO and AC based upon each employee’s individual allocation of their responsibilities between GAMCO and AC. The total compensation costs related to non-vested awards not yet recognized is approximately $4.6 million as of December 31, 2016. This will be recognized as expense in the following periods (in thousands): 2017 2018 2019 2020 $ 1,642 $ 1,082 $ 893 $ 413 2021 2022 2023 2024 $ 275 $ 168 $ 72 $ 12 For the years ended December 31, 2016 and 2015, the Company recorded approximately $2.5 million and $4.9 million, respectively, in stock based compensation expense which resulted in the recognition of tax benefits of approximately $0.8 million and $1.7 million, respectively. The $4.9 million for the year ended December 31, 2015, includes $2.4 million in stock compensation expense as a result of accelerating the November 2013 RSA grant. There were no comparable accelerations in the year ended December 31, 2016. Stock Repurchase Program The Company repurchased 1.3 million shares at an average price of $31.10 per share for a total investment of $41.6 million. This includes a purchase of 926,345 shares from an unaffiliated third party on December 30, 2016 at a price of $31.05 for which the related payable of $28.8 million is included in accrued expenses and other liabilities on the consolidated statements of financial condition . Dividends During 2016, the Company declared dividends of $0.20 per share to class A and class B shareholders totaling $5.0 million, of which $2.4 million is payable on January 25, 2017 and is included in accrued expenses and other liabilities on the consolidated statements of financial condition .

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2016
Retirement Plan [Abstract]
Retirement Plan	I. Retirement Plan The Company participates in an incentive savings plan (the “Plan”), covering substantially all employees. Company contributions to the Plan are determined annually by management of the Company and (prior to the spin-off) GAMCO’s Board of Directors but may not exceed the amount permitted as a deductible expense under the Internal Revenue Code. The amounts expensed for allocated contributions to this Plan amounted to approximately $34,000 and $12,000 in 2016 and 2015, respectively, and are included in compensation on the consolidated statements of income.

Guarantees, Contingencies, and

Guarantees, Contingencies, and Commitments	12 Months Ended
	Dec. 31, 2016
Guarantees, Contingencies, and Commitments [Abstract]
Guarantees, Contingencies, and Commitments	J. Guarantees, Contingencies, and Commitments G.research has agreed to indemnify the clearing brokers for losses they may sustain from the customer accounts that trade on margin introduced by G.research. At December 31, 2016, the total amount of customer balances subject to indemnification (i.e., unsecured margin debits) was immaterial. G.research also has entered into arrangements with various other third parties, many of which provide for indemnification of the third parties against losses, costs, claims and liabilities arising from the performance of G.research’s obligations under the agreements. G.research has had no claims or payments pursuant to these or prior agreements, and management believes the likelihood of a claim being made is remote, and therefore, an accrual has not been made on the consolidated financial statements. From time to time, we may be named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. We are also subject to governmental or regulatory examinations or investigations. Examinations or investigations can result in adverse judgments, settlements, fines, injunctions, restitutions or other relief. For any such matters, the consolidated financial statements include the necessary provisions for losses that we believe are probable and estimable. Furthermore, we evaluate whether there exist losses which may be reasonably possible and, if material, make the necessary disclosures.

Net Capital Requirements

Net Capital Requirements	12 Months Ended
	Dec. 31, 2016
Net Capital Requirements [Abstract]
Net Capital Requirements	K. Net Capital Requirements G.research is a registered broker-dealer, and is subject to the SEC Uniform Net Capital Rule 15c3-1 (the “Rule”), which specifies, among other requirements, minimum net capital requirements for registered broker-dealers. G.research computes its net capital under the alternative method as permitted by the Rule, which requires that minimum net capital be the greater of $250,000 or 2% of the aggregate debit items in the reserve formula for those broker-dealers subject to Rule 15c3-3. G.research, LLC is exempt from Rule 15c3-3 pursuant to paragraph (k)(2)(ii) of that rule which exempts all customer transactions cleared through another broker-dealer on a fully disclosed basis. In addition, our assets at the clearing broker-dealer are treated as allowable assets for net capital purposes as we have in place Proprietary Accounts of Introducing Firms and Dealers ("PAIB") agreements pursuant to Rule 15c3-3. These requirements also provide that equity capital may not be withdrawn, advances to affiliates may not be made or cash dividends paid if certain minimum net capital requirements are not met. G.research had net capital, as defined, of $3.7 million and $7.1 million, exceeding the required amount of $250,000 by $3.4 million and $6.9 million, at December 31, 2016 and 2015, respectively. There were no subordinated borrowings during the years ended December 31, 2016 and 2015.

Shareholder-Designated Contribu

Shareholder-Designated Contribution Plan	12 Months Ended
	Dec. 31, 2016
Shareholder-Designated Contribution Plan [Abstract]
Shareholder-Designated Contribution Plan	L. Shareholder-Designated Contribution Plan During 2016, the Company established a Shareholder Designated Charitable Contribution program. Under the program, each shareholder is eligible to designate a charity to which the Company would make a donation based upon the actual number of shares registered in the shareholder’s name. Shares held in nominee or street name were not eligible to participate. The Company recorded a cost of $5.4 million related to this contribution which was included in shareholder-designated contribution in the consolidated statements of income.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information (Unaudited) [Abstract]
Quarterly Financial Information (Unaudited)	M. Quarterly Financial Information (Unaudited) Quarterly financial information for the years ended December 31, 2016 and 2015 is presented below. 2016 1st 2nd 3rd 4th Total (In thousands, except per share data) Revenues $ 4,517 $ 4,964 $ 5,451 $ 16,295 $ 31,227 Operating income (loss) (4,515 ) (3,352 ) (4,497 ) 132 (12,232 ) Net income attributable to Associated Capital Group, Inc.'s shareholders 1,593 1,019 3,959 3,647 10,218 Net income attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.06 $ 0.04 $ 0.16 $ 0.15 $ 0.41 Diluted $ 0.06 $ 0.04 $ 0.16 $ 0.15 $ 0.41 2015 1st 2nd 3rd 4th Total Revenues $ 4,567 $ 4,590 $ 4,690 $ 8,995 $ 22,842 Operating loss (3,880 ) (3,468 ) (1,081 ) (5,883 ) (14,312 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders 2,385 855 (7,540 ) 4,189 (111 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - Diluted $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - N. Subsequent Events

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	During the period from January 1, 2017 to February 7, 2017, we repurchased 3,762 shares at an average price per share of $33.45. On February 7, 2017, the Board of Directors reset the available number of shares to be purchased under the stock repurchase program to 500,000 shares. From February 8, 2017 to March 13, 2017, the Company repurchased 0 shares at $0 per share. As a result, there are 500,000 shares available to be repurchased under our existing buyback plan at March 13, 2017. In January 2017, GAMCO prepaid an additional $10 million of the GAMCO Note, reducing the principal outstanding to $90 million. On January 13, 2017, FINRA approved the G.research’s change of direct ownership. Institutional Services Holdings, LLC, a newly formed holding company wholly owned by AC, will become the new parent company of G.research. On February 7, 2017, the Board of Directors approved an additional $0.25 per share contribution for all registered Class A and Class B shareholders under the Company’s Shareholder Designated Charitable Contribution Program. If all shares outstanding are registered in their shareholders’ names at the record date, the total contribution would be approximately $6.1 million.

Significant Accounting Polici25

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Significant Accounting Policies [Abstract]
Use of Estimates	The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills and Notes with maturities of three months or less at the time of purchase are also considered cash equivalents.
Investments in Securities	Investments in Securities Investments in securities are accounted for as either “trading securities” or “available for sale” and are stated at fair value. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designations as of each balance sheet date. U.S. Treasury Bills and Notes with maturities of greater than three months at the time of purchase are considered investments in securities. Securities that are not readily marketable are stated at their estimated fair values in accordance with GAAP. A substantial portion of investments in securities are held for resale in anticipation of short-term market movements and therefore are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings in net gain from investments on the consolidated statements of income. Available for sale (“AFS”) investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of other comprehensive income (loss) on the consolidated statements of comprehensive income (loss) except for losses deemed to be other than temporary which are recorded as realized losses on the consolidated statements of income. Securities transactions and any related gains and losses are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the specific identified cost basis and are included in net gain from investments on the consolidated statements of income. AFS securities are evaluated for other than temporary impairments each reporting period, and any impairment charges are recorded in net gain from investments on the consolidated statements of income. Management reviews all AFS securities whose cost exceeds their fair value to determine if the impairment is other than temporary. Management uses qualitative factors such as diversification of the investment, the intent to hold the investment, the amount of time that the investment has been impaired and the severity of the decline in determining whether the impairment is other than temporary. Securities sold, not yet purchased are recorded on the trade date, and are stated at fair value and represent obligations of the Company to purchase the securities at prevailing market prices. Therefore, the future satisfaction of such obligations may be for an amount greater or less than the amounts recorded on the consolidated statements of financial condition. The ultimate gains or losses recognized are dependent upon the prices at which these securities are purchased to settle the obligations under the sales commitments. Realized gains and losses from covers of securities sold, not yet purchased transactions are included in net gain from investments on the consolidated statements of income. Unrealized gains and losses on securities sold, not yet purchased are reported in current period earnings in net gain from investments on the consolidated statements of income.
Fair Values of Financial Instruments	Fair Value of Financial Instruments All of the instruments within investments in securities are measured at fair value. The Company’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the Financial Accounting Standards Board’s (“FASB”) guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: · Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities at the reporting date. Level 1 asset includes cash equivalents, government obligations, open-end mutual funds, closed-end funds and equities. · Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities that are not active and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly-quoted intervals. Assets that generally are included in this category may include certain limited partnership interests in private funds and over the counter derivatives that have inputs to the valuations that can generally be corroborated by observable market data. · Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets included in this category generally include equities that trade infrequently and direct private equity investments held within consolidated partnerships. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Investments are transferred into or out of any level at their beginning period values. The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not yet established in the marketplace, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. The valuation process and policies reside with the financial reporting and accounting group which reports to the Chief Financial Officer of the Company. The Company uses the “market approach” valuation technique to value investments in Level 3 investments. The Company’s valuation of the Level 3 investments has been based upon either i) the recent sale prices of the issuer’s equity securities or ii) the net assets, book value or cost basis of the issuer when there are no recent sales prices available. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that the market is willing to pay for an asset. Ask prices represent the lowest price that the market is willing to accept for an asset. Cash equivalents Investments in securities Investments in partnerships —T he Company’s investments include those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting and certain investments in consolidated feeder funds. Based upon the guidance outlined in Accounting Standards Update (“ASU”) No. 2015-07, Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent), investments in partnerships, measured using NAV as a practical expedient, are not classified in the fair value hierarchy.
Receivables from Affiliates and Payables to Affiliates	Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of advisory fees due from certain affiliates. Payables to affiliates primarily consist of expenses paid by affiliates on behalf of the Company pursuant to the Transitional Services Agreement with GAMCO. See Note G.
Receivables from and Payables to Brokers	Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts arising from the purchases and sales of securities as well as cash amounts held in anticipation of investment.
Consolidation	Consolidation In February 2015, the Financial Accounting Standards Board (“FASB”) issued new consolidation guidance which changed the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The Company elected to adopt this new guidance with an effective date of adoption of January 1, 2016. Restatement of prior period results is not required. Amounts presented for the year ended December 31, 2016 in the consolidated statements of income reflect the adoption of this accounting guidance as of January 1, 2016. Pursuant to the consolidation guidance, the Company first evaluates whether it holds a variable interest in an entity. Fees that are customary and commensurate with the level of services provided, and where the Company does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered a variable interest. The Company factors in all economic interests including proportionate interests through related parties, to determine if such interests are considered a variable interest. For entities where the Company has determined that it does hold a variable interest, the Company performs an assessment to determine whether each of those entities qualify as a variable interest entity (“VIE”). The determination as to whether an entity qualifies as a VIE depends on the facts and circumstances surrounding each entity and therefore certain of the Company’s funds may qualify as VIEs under the variable interest model whereas others may qualify as voting interest entities (“VOEs”) under the voting interest model. The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. Under the variable interest model, the Company consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When the Company alone is not considered to have a controlling financial interest in the VIE but the Company and its related parties under common control in the aggregate have a controlling financial interest in the VIE, the Company will be deemed the primary beneficiary if it is the party that is most closely associated with the VIE. When the Company and its related parties not under common control in the aggregate have a controlling financial interest in the VIE, the Company would be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of the Company. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. Investments and redemptions (either by the Company, related parties or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. Assets and liabilities of the consolidated VIEs are included within the consolidated statements of financial condition and are separately disclosed in Note D. Under the voting interest model, the Company consolidates those entities it controls through a majority voting interest. The Company does not consolidate those VOEs in which substantive kick-out rights have been granted to the unrelated investors to either dissolve the fund or remove the general partner. Equity Method Investments Substantially all of the Company’s equity method investees are entities that record their underlying investments at fair value. Therefore, under the equity method of accounting, the Company’s share of the investee’s underlying net income predominantly represents fair value adjustments in the investments held by the equity method investees. The Company’s share of the investee’s underlying net income or loss is based upon the most currently available information and is recorded as “Net gain from investments” on the consolidated statements of income. Capital contributions are recorded as an increase in investments when paid, while withdrawals and distributions are recorded as reductions of the investments when received. Depending on the terms of the investment, the Company may be restricted as to the timing and amounts of withdrawals. See Note D. Investments in Partnerships, Offshore Funds and Variable Interest Entities for more detail as to the number and types of entities consolidated as well as the impact on the consolidated statements of financial condition and consolidated statements of income.
Investments in Partnerships and Affiliates	Investments in Partnerships and Affiliates The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities (“unaffiliated entities”). Given that we are not a general partner or investment manager in any of the unaffiliated entities, we do not earn any management or incentive fees/allocation and we do not have a controlling financial interest; thus, we do not currently consolidate any unaffiliated entities. Our balance sheet caption “Investments in partnerships” includes those investments, in both affiliated and unaffiliated entities, which the Company accounts for under the equity method of accounting and certain investments in consolidated feeder funds (“CFFs”) that the Company accounts for at fair value, as described below. For CFFs that own 100% of their offshore master funds, the Company retains the CFF’s specialized investment company accounting (i.e., the CFFs account for their investment in master funds at fair value). The Company records noncontrolling interests in consolidated entities for which the Company’s ownership is less than 100%. Refer to Noncontrolling Interests section within this Note B for additional disclosures.
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and are included in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company will enter into hedging transactions to manage its exposure to foreign currencies and equity prices related to its proprietary investments. During 2016 and 2015, the Company had derivative transactions which resulted in net gains of $143,000 and $264,000, respectively. At December 31, 2016 and 2015, we held derivative contracts on 16,000 equity shares and 250,000 equity shares, respectively, and the net fair value was $90,000 and $149,000, respectively, and is included as investments in securities on the consolidated statements of financial condition. These transactions are not designated as hedges for accounting purposes, and changes in fair values of these derivatives are included in net gain from investments on the consolidated statements of income and included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition.
Securities Transactions	Securities Transactions The Company also generates investment gains or losses from its proprietary trading activities which are included in net gain from investments on the consolidated statements of income. Management determines the appropriate classification of debt and equity securities at the time of purchase and reevaluates such designation as of the date of each consolidated statement of financial condition. Investments in United States Treasury Bills and Notes with maturities of greater than three months at the time of purchase are classified as investments in securities, and those with maturities of three months or less at the time of purchase are classified as cash equivalents. The portion of investments in securities held for resale in anticipation of short-term market movements are classified as trading securities. Trading securities are stated at fair value, with any unrealized gains or losses reported in current period earnings. AFS investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of equity except for losses deemed to be other than temporary (“OTT”) which are recorded as realized losses in the consolidated statements of income.
Major Revenue-Generating Services and Revenue Recognition	Major Revenue-Generating Services and Revenue Recognition Advisory fees from investment partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in receivables from affiliates on the consolidated statements of financial condition. Revenues from investment partnerships and offshore funds also generally include either an incentive fee/allocation on the absolute gain in a portfolio or a fee of 20% of the economic profit as defined in the partnership agreement and is included in investment advisory and incentive fees on the consolidated statements of income. The incentive allocation or fee is generally recognized at the end of the measurement period, which is annually, and amounts receivable are included in either receivables from affiliates or investment advisory fees receivable on the consolidated statements of financial condition. Institutional research services includes commission revenues, sales manager fees and underwriting fees and amounts receivable are included in receivables from brokers and clearing organizations on the consolidated statements of financial condition. Related clearing charges are recorded on a trade-date basis, and are included in other operating expenses on the consolidated statements of income. Underwriting fees include underwriting revenues and syndicate profits and are accrued as earned. Underwriting fees include gains, losses, selling concessions and fees, net of syndicate expenses, arising from securities offerings in which the Company acts as underwriter or agent. Effective January 1, 2014, the Company, through G.research, entered into agreements with two affiliates, GAMCO Asset Management Inc. and Gabelli Funds, LLC, to provide each affiliate with the same types of research services that it provides to its other clients. The agreements call for the two affiliates to pay a research services fee. The annual fee amounts are determined by negotiations between the Company and each entity that utilizes the Company’s research.
Depreciation	Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four to seven years. For the years ended December 31, 2016 and 2015, depreciation was $17,000 and $13,000, respectively, on fixed assets with a cost of $85,000 and $57,000, respectively, and a net book value of $55,000 and $19,000, respectively. We estimate that depreciation will be approximately $17,000 annually over the next three years. As of December 31, 2016 and 2015, the Company wrote off assets in the amount of $25,000 and $2,000, respectively, that were fully depreciated and had been retired.
Allocated Expenses	Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by other affiliates and are included in other operating expenses on the consolidated statements of income. These overhead expenses primarily relate to centralized functions including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management functions. These overhead expenses are allocated to the Company by other affiliates or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, with the remainder allocated based on revenue, headcount, space or other methodologies periodically reviewed by the management of the Company and the affiliates. In addition, GCIA and GAMCO serve as paymasters under compensation payment sharing agreements. This includes compensation expense and related payroll taxes and benefits which are fully paid by the Company for professional staff performing duties related to the Company and affiliates. These compensation expenses are included in compensation on the consolidated statements of income. All of the allocations and estimates in these financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not be indicative of the actual expenses we would have incurred or may incur in the future. Management Fee
Management Fee	Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the various consolidated feeder funds and partnerships, is paid to the Executive Chairman or his designated assignees in accordance with his employment agreement.
Stock Based Compensation	Stock Based Compensation The Company maintains one Plan approved by the shareholders, which is designed to provide incentives which will attract and retain individual’s key to the success of AC through direct or indirect ownership of our common stock. Benefits under the Plan may be granted in any one or a combination of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, dividend equivalents and other stock or cash based awards. A maximum of 2.0 million shares of Class A Stock have been reserved for issuance under the Plans by a committee of the Board of Directors responsible for administering the Plans (“Compensation Committee”). Under the Plan, the committee may grant RSAs and either incentive or nonqualified stock options with a term not to exceed ten years from the grant date and at an exercise price that the committee may determine. On November 30, 2015, in connection with the spin-off of the Company from GAMCO, the Company issued 554,100 AC RSA shares to GAMCO employees (including GAMCO employees who became AC employees) who held 554,100 GAMCO RSA shares at that date. The purpose of the issuance was to ensure that any employee who had GAMCO RSAs were granted an equal number of AC RSAs so that the total value of the RSAs post-spin-off was equivalent to the total value pre-spin-off. In accordance with GAAP, we have allocated the stock compensation costs between GAMCO and AC based upon each employee’s individual allocation of their responsibilities between GAMCO and AC. As of December 31, 2016, there were 424,340 AC RSA shares outstanding. All grants of the RSA shares were recommended by the Company's Executive Chairman, who did not receive a RSA, and approved by the Compensation Committee. This expense, net of estimated forfeitures, is recognized over the vesting period for these awards which is either (1) 30% over three years from the date of grant and 70% over five years from the date of grant or (2) 30% over three years from the date of grant and 10% each year over years four through ten from the date of grant. During the vesting period, dividends to RSA holders are held for them until the RSA vesting dates and are forfeited if the grantee is no longer employed by the Company on the vesting dates. Dividends declared on these RSAs, less estimated forfeitures, are charged to retained earnings on the declaration date.
Goodwill	Goodwill Goodwill is initially measured as the excess of the cost of the acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th and whenever certain triggering events are met. In assessing the recoverability of goodwill for the subsidiary’s annual impairment test on November 30, 2016 and 2015, we performed a qualitative assessment of whether it was more likely than not that an impairment has occurred and concluded that a quantitative analysis was not required. As part of this assessment, it was also determined that there was no risk of failing the quantitative impairment testing step that compares the subsidiary fair value to its carrying value. No impairment was recorded during 2016 or 2015.
Income Taxes	Income Taxes For purposes of the preparation of the consolidated financial statements, the provision for income taxes is computed using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. A valuation allowance would be recorded to reduce the carrying value of deferred tax assets to the amount that is more likely than not to be realized. In making such a determination of whether a valuation allowance is necessary, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that the Company would be able to realize the Company’s deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with ASC Topic 740 on the basis of a two-step process whereby (1) the Company determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes the accrual of interest on uncertain tax positions and penalties in income tax provision on the consolidated statements of income. Accrued interest and penalties on uncertain tax positions are included within accrued expenses and other liabilities on the consolidated statements of financial condition.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests that are mandatorily redeemable upon a certain date or event occurring are classified as liabilities and relate to certain stockholders of GCIA who are employed by GAMCO, or its affiliates, who are required to sell their shares back to GCIA at book value once they cease being employed by GAMCO, or its affiliates. During the year ended December 31, 2016, AC purchased the outstanding 1.9% of GCIA shares owned by certain employees of GAMCO in exchange for 50,964 Class A shares of the Company in the amount of $1.5 million, which eliminated the mandatorily redeemable noncontrolling interest. Noncontrolling interests in investment partnerships and offshore funds that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the consolidated statements of financial condition between liabilities and equity. All other noncontrolling interests, which included the 4.2% GCIA shares owned by third parties, are classified as equity and are presented within the equity section, separately from AC’s portion of equity. For the years ended December 31, 2016, and 2015, net income (loss) attributable to noncontrolling interests on the consolidated statements of income represents the share of net income (loss) attributable to the minority stockholders, as reported on a separate company basis, of our consolidated majority-owned subsidiaries and net income (loss) attributable to certain limited partners of investment partnerships and offshore funds that are consolidated. The income (loss) attributable to the mandatorily redeemable noncontrolling interests classified as liabilities prior to the Company’s purchase of the outstanding 1.9% of GCIA shares owned by certain employees of GAMCO is included in other operating expenses on the consolidated statements of income.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, the GAMCO Note, and receivable from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. Government, and has receivables from brokers with various brokers and financial institutions, where these balances can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees/allocation, which are included in investment advisory fees receivable and receivables from affiliates on the consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third party brokers or custodians.
Net Transfer from GBL	Net transfer from GBL Net transfer from GBL in the consolidated financial statements represents the net effect of transactions with and allocations from GAMCO prior to the spin-off.
Business Segment	Business Segment The Company operates in one business segment, the investment advisory and asset management business. The Company’s Chief Operating Decision Maker reviews the Company’s financial performance at an aggregate level. All of the products and services provided by the Company relate to asset management.
Recent Accounting Developments	Recent Accounting Developments In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers," which supersedes the revenue recognition requirements in the Accounting Standards Codification ("ASC") Topic 605, Revenue Recognition, and most industry-specific guidance throughout the industry topics of the ASC. The core principle of the new ASU No. 2014-09 is for companies to recognize revenue from the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard provides a five-step approach to be applied to all contracts with customers and also requires expanded disclosures about revenue recognition. The ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods and is either applied on a retrospective or modified retrospective basis. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements – Going Concern,” which provides guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The new standard requires management to perform interim and annual assessments of an entity’s ability to continue as a going concern within one year of the date of issuance of the entity’s financial statements. Further, an entity must provide certain disclosures if there is “substantial doubt about the entity’s ability to continue as a going concern.” The FASB believes that requiring management to perform the assessment will enhance the timeliness, clarity, and consistency of related disclosures. The ASU is effective for annual periods ending after December 15, 2016, and for annual and interim periods thereafter. The Company has adopted this ASU effective December 31, 2016. No additional disclosures were required in this Report of Form 10K based on management’s assessment that it does not have substantial doubt about the Company’s ability to continue as a going concern. In May 2015, the FASB issued new guidance amending the current disclosure requirements for investments in certain entities that calculate net asset value (“NAV”) per share. The guidance requires investments for which fair value is measured using the net asset value per share practical expedient be removed from the fair value hierarchy. Instead, those investment amounts shall be provided as a separate item to permit reconciliation of the fair value of investments included in the fair value hierarchy to the line items presented in the statement of financial condition. This new guidance was effective for the Company's first quarter of 2016 and was applied retrospectively and reflected in these notes to the consolidated financial statements. In January 2016, the FASB issued ASU 2016-01, which amends the guidance in GAAP on the classification and measurement of financial instruments. Although the ASU retains many current requirements, it significantly revises an entity’s accounting related to (1) the classification and measurement of investments in equity securities and (2) the presentation of certain fair value changes for financial liabilities measured at fair value. The ASU also amends certain disclosure requirements associated with the fair value of financial instruments. For public companies, the new standard is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2017. To adopt the amendments, entities will be required to make a cumulative-effect adjustment to beginning retained earnings as of the beginning of the fiscal year in which the guidance is effective. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, which amends the guidance in GAAP for the accounting for leases. ASU 2016-02 requires a lessee to recognize assets and liabilities arising from most operating leases in the consolidated statement of financial position. ASU 2016-02 is effective beginning January 1, 2019. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. For public companies, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. The Company has adopted this ASU effective January 1, 2017 without a material impact on its consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, which adds and clarifies guidance on the classification of certain cash receipts and payments in the consolidated statements of cash flows. For public companies, the ASU is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04 to simplify the process used to test for goodwill. Under the new standard, if “the carrying amount of a reporting unit exceeds its fair value, an impairment loss shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit.” For public companies, the ASU is effective for annual and any interim impairment tests for periods beginning after December 15, 2019. Early adoption is permitted for impairment tests that occur after January 1, 2017. The Company is currently evaluating this guidance and the impact it will have on its consolidated financial statements.

Investment in Securities (Table

Investment in Securities (Tables)	12 Months Ended
	Dec. 31, 2016
Investment in Securities [Abstract]
Investments in Securities	Investments in securities at December 31, 2016 and 2015 consisted of the following: 2016 2015 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ 119,755 $ 119,823 $ 99,897 $ 99,940 Common stocks 69,503 82,158 78,974 92,194 Mutual funds 2,402 3,143 2,578 3,216 Other investments 1,275 1,472 570 771 Total trading securities 192,935 206,596 182,019 196,121 Available for sale securities: Common stocks 150,000 135,701 150,000 136,360 Mutual funds 206 500 627 1,143 Total available for sale securities 150,206 136,201 150,627 137,503 Total investments in securities $ 343,141 $ 342,797 $ 332,646 $ 333,624 Securities sold, not yet purchased at December 31, 2016 and 2015 consisted of the following:
Securities Sold, Not Yet Purchased	2016 2015 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Common stocks $ 9,583 $ 9,947 $ 10,095 $ 9,537 Other investments 27 37 24 86 Total securities sold, not yet purchased $ 9,610 $ 9,984 $ 10,119 $ 9,623
Investments in Affiliated Registered Investment Companies	2016 2015 Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,096 $ 45,351 $ 40,097 $ 43,133 Total trading securities 40,096 45,351 40,097 43,133 Available for sale securities: Closed-end funds 62,890 80,650 62,070 72,591 Mutual funds 4,396 5,644 1,846 2,952 Total available for sale securities 67,286 86,294 63,916 75,543 Total investments in affiliated registered investment companies $ 107,382 $ 131,645 $ 104,013 $ 118,676
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") and into net income/(loss) for the years ended December 31, 2016 and 2015 (in thousands): Amount Affected Line Item Reason for Reclassified in the Statements Reclassification from AOCI of Income from AOCI Twelve months ended December 31, 2016 2015 $ 348 $ 25 Net gain from investments Realized gains on sale of AFS securities (324 ) (216 ) Net gain from investments Other than temporary impairment of AFS securities 24 (191 ) Income (loss) before income taxes (9 ) 69 Income tax provision $ 15 $ (122 ) Net income (loss)
Schedule of Fair Values and Gains and Losses of All Derivatives and Foreign Currency Positions	The following tables identify the fair values and gains and losses of all derivatives and foreign currency positions held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition December 31, December 31, Financial Condition December 31, December 31, Location 2016 2015 Location 2016 2015 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ - $ - Payable to brokers $ - $ 37,584 Sub total $ - $ - $ - $ 37,584 Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in Securities sold, securities $ 127 $ 236 not yet purchased $ 37 $ 86 Foreign exchange contracts Receivable from brokers - - Payable to brokers - 5,017 Sub total $ 127 $ 236 $ 37 $ 5,103 Total derivatives $ 127 $ 236 $ 37 $ 42,687
Schedule of Derivative Instruments, Gain (Loss)	Type of Derivative Income Statement Location Year ended December 31, 2016 2015 Foreign exchange contracts Net gain from investments $ 1,373 $ 2,456 Equity contracts Net gain from investments 143 264 Total $ 1,516 $ 2,720
Master Netting Arrangements for Swaps	The Company is a party to enforceable master netting arrangements for swaps entered into as part of the Company's investment strategy. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, major U.S. financial institutions, are shown gross in assets and liabilities on the consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Assets Presented Recognized Statements of in the Statements of Financial Cash Collateral Assets Financial Condition Financial Condition Instruments Received Net Amount Swaps: (In thousands) December 31, 2016 $ 96 $ - $ 96 $ (9 ) $ - $ 87 December 31, 2015 $ 177 $ - $ 177 $ (81 ) $ - $ 96 Gross Amounts Not Offset in the Statements of Financial Condition Gross Gross Amounts Net Amounts of Amounts of Offset in the Liabilities Presented Recognized Statements of in the Statements of Financial Cash Collateral Liabilities Financial Condition Financial Condition Instruments Pledged Net Amount Swaps: (In thousands) December 31, 2016 $ 9 $ - $ 9 $ (9 ) $ - $ - December 31, 2015 $ 81 $ - $ 81 $ (81 ) $ - $ -
Summary of Available-for-Sale Securities	The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments as of December 31, 2016 and 2015: December 31, 2016 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Common stocks $ 150,000 $ - $ (14,299 ) $ 135,701 Closed-end Funds 62,890 17,760 - 80,650 Mutual funds 4,602 1,542 - 6,144 Total available for sale securities $ 217,492 $ 19,302 $ (14,299 ) $ 222,495 December 31, 2015 Gross Gross Unrealized Unrealized Fair Cost Gains Losses Value (In thousands) Common stocks $ 150,000 $ - $ (13,640 ) $ 136,360 Closed-end Funds 62,070 11,299 (778 ) 72,591 Mutual funds 2,472 1,641 (18 ) 4,095 Total available for sale securities $ 214,542 $ 12,940 $ (14,436 ) $ 213,046
Investments Classified as Available for Sale in Unrealized Loss Position	December 31, 2016 December 31, 2015 Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value (in thousands) Common Stock $ 150,000 $ (14,299 ) $ 135,701 $ 150,000 $ (13,640 ) $ 136,360 Closed-end Funds - - - 40,627 (778 ) 39,849 Mutual Funds - - - 244 (18 ) 226 Total available for sale securities $ 150,000 $ (14,299 ) $ 135,701 $ 190,871 $ (14,436 ) $ 176,435

Investment in Partnerships, O27

Investment in Partnerships, Offshore Funds and Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2016
Investment in Partnerships, Offshore Funds and Variable Interest Entities [Abstract]
Schedule of Number of Entities Consolidated	Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs Entities consolidated at December 31, 2014 1 2 - 1 - 1 1 4 Additional consolidated entities - 1 - 1 1 - 1 2 Deconsolidated entities - (1) - - - (1) - (2) Entities consolidated at December 31, 2015 1 2 - 2 1 - 2 4 Additional consolidated entities - - 1 - - - 1 - Deconsolidated entities (1) (1) - (2) (1) - (2) (3) Entities consolidated at December 31, 2016 - 1 1 - - - 1 1
Investment in Partnerships by Accounting Method	The following table breaks down the investments in partnerships line by accounting method, either fair value or equity method, and investment type (in thousands): December 31, 2016 Investment Type Affiliated Unaffiliated Accounting method Consolidated Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 8,343 $ - $ - $ - $ - $ 8,343 Equity Method - 33,202 70,745 6,761 10,347 121,055 Total $ 8,343 $ 33,202 $ 70,745 $ 6,761 $ 10,347 $ 129,398 December 31, 2015 Investment Type Affiliated Unaffiliated Accounting method Consolidated Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 13,953 $ - $ - $ - $ - $ 13,953 Equity Method - 39,552 35,746 7,911 7,889 91,098 Total $ 13,953 $ 39,552 $ 35,746 $ 7,911 $ 7,889 $ 105,051
Condensed Consolidated Statements of Financial Condition by Entity Consolidated	The following table includes the net impact by line item on the consolidated statements of financial condition for each category of entity consolidated: December 31, 2016 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 313,785 $ - $ 308 $ - $ 314,093 Investments in securities (including GBL stock) 336,459 - 6,338 - 342,797 Investments in affiliated investment companies 131,645 - - - 131,645 Investments in partnerships 133,794 3,964 (8,360 ) - 129,398 Receivable from brokers 10,542 - 2,046 - 12,588 Investment advisory fees receivable 9,800 (8 ) (8 ) - 9,784 Other assets 12,298 - - - 12,298 Total assets $ 948,323 $ 3,956 $ 324 $ - $ 952,603 Liabilities and equity Securities sold, not yet purchased $ 9,984 $ - $ - $ - $ 9,984 Accrued expenses and other liabilities 64,317 13 37 - 64,367 Redeemable noncontrolling interests - 3,943 287 - 4,230 Total equity 874,022 - - - 874,022 Total liabilities and equity $ 948,323 $ 3,956 $ 324 $ - $ 952,603 December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Assets Cash and cash equivalents $ 205,708 $ - $ 41 $ 1 $ 205,750 Investments in securities (including GBL stock) 325,692 - 7,849 83 333,624 Investments in affiliated investment companies 118,676 - - - 118,676 Investments in partnerships 109,274 4,506 (8,729 ) - 105,051 Receivable from brokers 53,921 - 2,164 425 56,510 Investment advisory fees receivable 4,881 2 5 8 4,896 Other assets 12,614 5 15 (393 ) 12,241 Total assets $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 Liabilities and equity Securities sold, not yet purchased $ 9,505 $ - $ 118 $ - $ 9,623 Accrued expenses and other liabilities 69,712 28 79 19 69,838 Redeemable noncontrolling interests - 4,485 1,148 105 5,738 Total equity 751,549 - - - 751,549 Total liabilities and equity $ 830,766 $ 4,513 $ 1,345 $ 124 $ 836,748 The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated.
Condensed Consolidated Statements of Income by Entity Consolidated	The following table includes the net impact by line item on the consolidated statements of income for each category of entity consolidated (in thousands): Twelve Months Ended December 31, 2016 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 31,247 $ (17 ) $ (3 ) $ - $ 31,227 Total expenses 43,285 128 46 - 43,459 Operating loss (12,038 ) (145 ) (49 ) - (12,232 ) Total other income, net 26,086 437 54 - 26,577 Income before income taxes 14,048 292 5 - 14,345 Income tax provision 3,876 - - - 3,876 Net income before NCI 10,172 292 5 - 10,469 Net income attributable to noncontrolling interests (46 ) 292 5 - 251 Net income $ 10,218 $ - $ - $ - $ 10,218 Twelve Months Ended December 31, 2015 Prior to Consolidation CFFs Partnerships Offshore Funds As Reported Total revenues $ 22,883 $ (34 ) $ (7 ) $ - $ 22,842 Total expenses 36,963 114 71 6 37,154 Operating loss (14,080 ) (148 ) (78 ) (6 ) (14,312 ) Total other income (expense), net 11,967 (170 ) (69 ) 8 11,736 Loss before income taxes (2,113 ) (318 ) (147 ) 2 (2,576 ) Income tax provision (1,685 ) - - - (1,685 ) Net loss before NCI (428 ) (318 ) (147 ) 2 (891 ) Net loss attributable to noncontrolling interests (317 ) (318 ) (147 ) 2 (780 ) Net loss $ (111 ) $ - $ - $ - $ (111 ) The CFFs, Partnerships and Offshore Funds columns above include only affiliated entities as no unaffiliated entities are consolidated.
GAMCO's Net Interest in Consolidated VIEs	The assets of these VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to these VIEs that are consolidated and were included on the consolidated statements of financial condition as well as the Company’s net interest in these VIEs. One VIE and two VIEs are consolidated at December 31, 2016 and December 31, 2015, respectively: December 31, December 31, 2016 2015 (In thousands) Cash and cash equivalents $ 308 $ 1 Investments in securities 6,338 83 Investments in partnerships - 4,791 Receivable from broker 2,046 425 Other assets (8 ) - Payable to brokers - (6 ) Accrued expenses and other liabilities (37 ) (404 ) Redeemable noncontrolling interests (287 ) (350 ) AC's net interests in consolidated VIE $ 8,360 $ 4,540
Summarized Financial Information of Aggregate Equity Method Investments	The summarized financial information of the Company’s equity method investments for December 31, 2016 and 2015 are as follows: December 31, December 31, 2016 2015 (In millions) Total assets $ 2,137 $ 2,414 Total liabilities 350 301 Total equity 1,787 2,113 For the year 2016 2015 Net loss $ (17 ) $ (18 )
Summarized Financial Information of Single Equity Method Investment Which Exceeded 20% of Consolidated Total Income	The summarized financial information of the Company’s single equity method investment which exceeded 20% of the Company’s consolidated total income for December 31, 2016 is as follows: For the year 2016 (In thousands) Total investment income $ 2,848 Net investment loss (3,462 ) Net gains on investments 14,192 Net increase in net assets resulting from operations 10,730

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present information about the Company’s assets and liabilities by major categories measured at fair value on a recurring basis as of December 31, 2016 and 2015 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value: Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2016 (in thousands) Quoted Prices in Active Significant Other Significant Investments Other Assets Balance as of Markets for Identical Observable Unobservable Measured at Not Held at December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2016 Cash equivalents $ 314,082 $ - $ - $ - $ - $ 314,082 Investments in partnerships - - - 125,527 3,871 129,398 Investments in securities (including GBL stock): AFS - Common stocks 135,701 - - - - 135,701 AFS - Mutual funds 500 - - - - 500 Trading - Gov't obligations 119,823 - - - - 119,823 Trading - Common stocks 81,696 1 461 - - 82,158 Trading - Mutual funds 3,143 - - - - 3,143 Trading - Other 1,062 127 283 - - 1,472 Total investments in securities 341,925 128 744 - - 342,797 Investments in affiliated registered investment companies: AFS - Closed-end Funds 80,650 - - - - 80,650 AFS - Mutual Funds 5,644 - - - - 5,644 Trading - Mutual funds 45,351 - - - - 45,351 Total investments in affiliated registered investment companies 131,645 - - - - 131,645 Total investments 473,570 128 744 125,527 3,871 603,840 Total assets at fair value $ 787,652 $ 128 $ 744 $ 125,527 $ 3,871 $ 917,922 Liabilities Trading - Common stocks $ 9,947 $ - $ - $ - $ - $ 9,947 Trading - Other - 37 - - - 37 Securities sold, not yet purchased $ 9,947 $ 37 $ - $ - $ - $ 9,984 Assets and Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2015 (in thousands) Quoted Prices in Active Significant Other Significant Investments Other Assets Balance as of Markets for Identical Observable Unobservable Measured at Not Held at December 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2015 Cash equivalents $ 205,733 $ - $ - $ - $ - $ 205,733 Investments in partnerships - - - 101,454 3,597 105,051 Investments in securities (including GBL stock): AFS - Common stocks 136,360 - - - - 136,360 AFS - Mutual funds 1,143 - - - - 1,143 Trading - Gov't obligations 99,940 - - - - 99,940 Trading - Common stocks 91,686 - 508 - - 92,194 Trading - Mutual funds 3,216 - - - - 3,216 Trading - Other 230 236 305 - - 771 Total investments in securities 332,575 236 813 - - 333,624 Investments in affiliated registered investment companies: AFS - Closed-end Funds 72,591 - - - - 72,591 AFS - Mutual Funds 2,952 - - - - 2,952 Trading - Mutual funds 43,133 - - - - 43,133 Total investments in affiliated registered investment companies 118,676 - - - - 118,676 Total investments 451,251 236 813 101,454 3,597 557,351 Total assets at fair value $ 656,984 $ 236 $ 813 $ 101,454 $ 3,597 $ 763,084 Liabilities Trading - Common stocks $ 9,537 $ - $ - $ - $ - $ 9,537 Trading - Other - 86 - - - 86 Securities sold, not yet purchased $ 9,537 $ 86 $ - $ - $ - $ 9,623 (a) Amounts are comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy (see Note B, Recent Accounting Developments (b) Amounts are comprised of certain equity method investments which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees do not account for both their financial assets and liabilities under fair value measures; therefore, the Company’s investment in such equity method investees may not represent fair value.
Changes in Level 3 Assets and Liabilities	The following table presents additional information about assets by major categories measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2016 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2015 (Losses) in Income Other Unrealized In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 508 $ (47 ) $ - $ - $ (47 ) $ - $ - $ - $ 461 Trading - Other $ 305 (2 ) - - (2 ) - (20 ) - 283 Total $ 813 $ (49 ) $ - $ - $ (49 ) $ - $ (20 ) $ - $ 744 Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis for the year ended December 31, 2015 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December Unrealized Gains or Included in and Transfers 31, 2014 (Losses) in Income Unrealized Gains or In and/or Beginning AFS Comprehensive Gains or (Out) of Ending Asset Balance Trading Investments Income (Losses) Purchases Sales Level 3 Balance Financial instruments owned: Trading - Common stocks $ 1,293 $ (195 ) $ - $ - $ (195 ) $ 6 $ (238 ) $ (358 ) $ 508 Trading - Other $ 294 98 - - 98 5 (80 ) (12 ) 305 Total $ 1,587 $ (97 ) $ - $ - $ (97 ) $ 11 $ (318 ) $ (370 ) $ 813

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Taxes [Abstract]
Provision for Income Taxes	The provision for income taxes for the years ended December 31, 2016 and 2015 consisted of the following: 2016 2015 (In thousands) Federal: Current $ 5,018 $ 4,540 Deferred (1,231 ) (6,160 ) State and local: Current 236 225 Deferred (147 ) (290 ) Total $ 3,876 $ (1,685 )
Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate	A reconciliation of the Federal statutory rate to the effective tax rate is set forth below: 2016 2015 Statutory Federal income tax rate 34.0 % 34.0 % State income tax, net of Federal benefit 1.2 1.6 Dividends received deduction (3.6 ) 26.4 Donation of appreciated securities (4.5 ) 3.2 Noncontrolling interests (0.7 ) 0.0 Other 0.6 0.2 Effective income tax rate 27.0 % 65.4 %
Components of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities are as follows: 2016 2015 (In thousands) Deferred tax assets: Stock compensation expense $ 719 $ 77 Deferred compensation 1,315 871 Investments in securities available for sale 3,652 5,523 Shareholder-designated contribution 1,461 - Other 4 - Total deferred tax assets 7,151 6,471 Deferred tax liabilities: Investments in securities and partnerships (11,103 ) (9,839 ) Other liabilities - (41 ) Total deferred tax liabilities (11,103 ) (9,880 ) Net deferred tax liabilities $ (3,952 ) $ (3,409 )
Gross Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits related to uncertain tax positions is as follows: (in thousands) Balance at January 1, 2015 $ 57.1 Additions based on tax positions related to the current year (59.7 ) Additions for tax positions of prior years - Reductions for tax positions of prior years (1.9 ) Settlements (11.2 ) Balance at December 31, 2015 (15.7 ) Additions based on tax positions related to the current year - Additions for tax positions of prior years 125.5 Reductions for tax positions of prior years (9.7 ) Settlements - Balance at December 31, 2016 $ 100.1

Stockholders Equity (Tables)

Stockholders Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders Equity [Abstract]
Total Projected Compensation Costs Related to Non-Vested Awards Not Yet Recognized	The total compensation costs related to non-vested awards not yet recognized is approximately $4.6 million as of December 31, 2016. This will be recognized as expense in the following periods (in thousands): 2017 2018 2019 2020 $ 1,642 $ 1,082 $ 893 $ 413 2021 2022 2023 2024 $ 275 $ 168 $ 72 $ 12

Quarterly Financial Informati31

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information (Unaudited) [Abstract]
Schedule of Quarterly Financial Information	Quarterly financial information for the years ended December 31, 2016 and 2015 is presented below. 2016 1st 2nd 3rd 4th Total (In thousands, except per share data) Revenues $ 4,517 $ 4,964 $ 5,451 $ 16,295 $ 31,227 Operating income (loss) (4,515 ) (3,352 ) (4,497 ) 132 (12,232 ) Net income attributable to Associated Capital Group, Inc.'s shareholders 1,593 1,019 3,959 3,647 10,218 Net income attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.06 $ 0.04 $ 0.16 $ 0.15 $ 0.41 Diluted $ 0.06 $ 0.04 $ 0.16 $ 0.15 $ 0.41 2015 1st 2nd 3rd 4th Total Revenues $ 4,567 $ 4,590 $ 4,690 $ 8,995 $ 22,842 Operating loss (3,880 ) (3,468 ) (1,081 ) (5,883 ) (14,312 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders 2,385 855 (7,540 ) 4,189 (111 ) Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders per share: Basic $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - Diluted $ 0.09 $ 0.03 $ (0.30 ) $ 0.17 $ - N. Subsequent Events

Organization and Spin-off Tra32

Organization and Spin-off Transaction (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2017	Dec. 31, 2016	Nov. 30, 2015	Nov. 28, 2015
Class of Stock [Line Items]
Debt instrument, principal amount				$ 150
Debt instrument, interest rate				4.00%
Class A [Member]
Class of Stock [Line Items]
Number of AC shares exchanged (in shares)		163,428
GAMCO Note [Member]
Class of Stock [Line Items]
Debt instrument, principal amount		$ 250
Debt instrument, interest rate		4.00%
Prepayment of debt		$ 150
Principal amount outstanding		$ 100
Debt instrument, maturity date		Nov. 30, 2020
GAMCO Note [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Prepayment of debt	$ 10
Principal amount outstanding	$ 90
GSI Note [Member]
Class of Stock [Line Items]
Minority ownership interest acquired		6.10%
Debt instrument, principal amount		$ 150
GAMCO Note Payable due on November 30, 2016 [Member]
Class of Stock [Line Items]
Prepayment of debt		$ 50
Debt instrument, maturity date		Nov. 30, 2016
GAMCO Note Payable due on November 30 2017 [Member]
Class of Stock [Line Items]
Prepayment of debt		$ 40
Principal amount outstanding		$ 10
Debt instrument, maturity date		Nov. 30, 2017
GAMCO Note Payable due on November 30, 2018 [Member]
Class of Stock [Line Items]
Prepayment of debt		$ 30
Principal amount outstanding		$ 20
Debt instrument, maturity date		Nov. 30, 2018
GAMCO Note Payable due on November 30, 2019 [Member]
Class of Stock [Line Items]
Prepayment of debt		$ 30
Principal amount outstanding		$ 20
Debt instrument, maturity date		Nov. 30, 2019
GAMCO Note Payable due on November 30, 2020 [Member]
Class of Stock [Line Items]
Principal amount outstanding		$ 50
Debt instrument, maturity date		Nov. 30, 2020
GCIA [Member]
Class of Stock [Line Items]
Minority ownership interest acquired		6.10%
Number of AC shares exchanged (in shares)		163,428
GAMCO [Member]
Class of Stock [Line Items]
Percentage of ownership interest held by the entity			93.90%
GAMCO [Member] | Class A [Member]
Class of Stock [Line Items]
Number of shares of common stock purchased (in shares)		4,393,055

Significant Accounting Polici33

Significant Accounting Policies (Details)	Nov. 30, 2015shares	Dec. 31, 2016USD ($)AffiliatePlanSegmentshares	Dec. 31, 2015USD ($)shares
Fair Value of Financial Instruments [Abstract]
Notice period to redeem investments in funds		30 days
Investments in Partnerships and Affiliates [Abstract]
Percentage of offshore master funds owned by CFF		100.00%
Maximum threshold percentage of ownership interest for recording noncontrolling interests in consolidated entities		100.00%
Derivative Financial Instruments [Abstract]
Net gain (loss) on foreign currency derivatives		$ 143,000	$ 264,000
Equity shares under derivative contracts (in shares) | shares		16,000	250,000
Fair value of foreign currency contracts		$ 90,000	$ 149,000
Major Revenue-Generating Services and Revenue Recognition [Abstract]
Percentage of fee of economic profit as defined in partnership agreement		20.00%
Number of affiliates with which the Company entered into agreements to provide research services | Affiliate		2
Property, Plant and Equipment [Line Items]
Depreciation		$ 17,000	13,000
Fixed assets at cost		85,000	57,000
Fixed assets with net book value		55,000	19,000
Estimated annual depreciation		$ 17,000
Period of estimate for future depreciation		3 years
Write off of fixed assets		$ 25,000	$ 2,000
Management Fee [Abstract]
Management fee expense percentage		10.00%
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans approved by shareholders | Plan		1
Stock options term		10 years
Business Segment [Abstract]
Number of operating segments | Segment		1
Class A [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance | shares		2,000,000
GAMCO [Member] | Class A [Member]
Noncontrolling Interests [Abstract]
Number of common shares issued in exchange of stock (in shares) | shares		50,964
Value of common stock issued		$ 1,500,000
Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares | shares	554,100
Shares outstanding (in shares) | shares		424,340	553,100
Restricted Stock Awards [Member] | GAMCO [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of shares | shares	554,100
Shares outstanding (in shares) | shares		424,340	553,100
Restricted Stock Awards [Member] | Vesting in Three Years from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		30.00%
Award vesting period		3 years
Restricted Stock Awards [Member] | Vesting in Five Years from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		70.00%
Award vesting period		5 years
Restricted Stock Awards [Member] | Vesting in Year Four from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Five from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Six from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Seven from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Eight from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Nine from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Ten from Date of Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage		10.00%
Unrelated Individual Investors [Member] | GCIA [Member]
Noncontrolling Interests [Abstract]
Percentage of minority ownership interest		4.20%
Certain Employees of GAMCO [Member] | GCIA [Member]
Noncontrolling Interests [Abstract]
Percentage of noncontrolling interest purchased		1.90%
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets		4 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful life of assets		7 years

Investment in Securities, Inves

Investment in Securities, Investment in Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Available for sale securities [Abstract]
Cost	$ 217,492	$ 214,542
Fair value	222,495	213,046
Total investments in securities [Abstract]
Cost	343,141	332,646
Fair value	342,797	333,624
Common Stocks [Member]
Available for sale securities [Abstract]
Cost	150,000	150,000
Fair value	135,701	136,360
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	4,602	2,472
Fair value	6,144	4,095
Investment in Securities [Member] | Trading Securities [Member]
Trading securities [Abstract]
Cost	192,935	182,019
Fair value	206,596	196,121
Investment in Securities [Member] | Trading Securities [Member] | Government Obligations [Member]
Trading securities [Abstract]
Cost	119,755	99,897
Fair value	119,823	99,940
Investment in Securities [Member] | Trading Securities [Member] | Common Stocks [Member]
Trading securities [Abstract]
Cost	69,503	78,974
Fair value	82,158	92,194
Investment in Securities [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities [Abstract]
Cost	2,402	2,578
Fair value	3,143	3,216
Investment in Securities [Member] | Trading Securities [Member] | Other Investments [Member]
Trading securities [Abstract]
Cost	1,275	570
Fair value	1,472	771
Investment in Securities [Member] | Available for Sale Securities [Member]
Available for sale securities [Abstract]
Cost	150,206	150,627
Fair value	136,201	137,503
Investment in Securities [Member] | Available for Sale Securities [Member] | Common Stocks [Member]
Available for sale securities [Abstract]
Cost	150,000	150,000
Fair value	135,701	136,360
Investment in Securities [Member] | Available for Sale Securities [Member] | Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	206	627
Fair value	$ 500	$ 1,143

Investment in Securities, Secur

Investment in Securities, Securities Sold, Not Yet Purchased (Details) - Investment in Securities [Member] - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Trading securities [Abstract]
Cost	$ 9,610	$ 10,119
Fair value	9,984	9,623
Trading Securities [Member] | Common Stocks [Member]
Trading securities [Abstract]
Cost	9,583	10,095
Fair value	9,947	9,537
Trading Securities [Member] | Other Investments [Member]
Trading securities [Abstract]
Cost	27	24
Fair value	$ 37	$ 86

Investment in Securities, Inv36

Investment in Securities, Investment in Affiliated Registered Investment Companies (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Available for sale securities [Abstract]
Cost	$ 217,492	$ 214,542
Fair value	222,495	213,046
Total investments in affiliated registered investment companies [Abstract]
Cost	107,382	104,013
Fair value	131,645	118,676
Closed-end Funds [Member]
Available for sale securities [Abstract]
Cost	62,890	62,070
Fair value	80,650	72,591
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	4,602	2,472
Fair value	6,144	4,095
Investment in Affiliated Registered Investment Companies [Member] | Trading Securities [Member]
Trading securities [Abstract]
Cost	40,096	40,097
Fair value	45,351	43,133
Investment in Affiliated Registered Investment Companies [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities [Abstract]
Cost	40,096	40,097
Fair value	45,351	43,133
Investment in Affiliated Registered Investment Companies [Member] | Available for Sale Securities [Member]
Available for sale securities [Abstract]
Cost	67,286	63,916
Fair value	86,294	75,543
Investment in Affiliated Registered Investment Companies [Member] | Available for Sale Securities [Member] | Closed-end Funds [Member]
Available for sale securities [Abstract]
Cost	62,890	62,070
Fair value	80,650	72,591
Investment in Affiliated Registered Investment Companies [Member] | Available for Sale Securities [Member] | Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	4,396	1,846
Fair value	$ 5,644	$ 2,952

Investment in Securities, Recla

Investment in Securities, Reclassifications Out of Accumulated Other Comprehensive Income into Income (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Contractshares	Dec. 31, 2015USD ($)Contractshares
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain from investments	$ 19,909	$ 8,276
Other operating expenses	8,434	6,189
Income (loss) before income taxes	14,345	(2,576)
Income tax provision	(3,876)	1,685
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	$ 10,469	$ (891)
Shares under derivative contract (in shares) | shares	16,000	250,000
Number of foreign exchange contracts | Contract	0	2
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income (loss) before income taxes	$ 24	$ (191)
Income tax provision	(9)	69
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	15	(122)
Realized Gain on Sale of AFS Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain from investments	348	25
Other-than-Temporary Impairment of AFS Securities [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain from investments	$ (324)	$ (216)

Investment in Securities, Fair

Investment in Securities, Fair Values and Gains and Losses of All Derivatives Held (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	$ 127	$ 236
Liability derivatives fair value	37	42,687
Derivative Instruments, Gain (Loss) [Line Items]
Net gain on derivative	1,516	2,720
Net Gain from Investments [Member] | Equity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain on derivative	143	264
Net Gain from Investments [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain on derivative	1,373	2,456
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0
Liability derivatives fair value	0	37,584
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Receivable from Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Payable to Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	0	37,584
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	127	236
Liability derivatives fair value	37	5,103
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Receivable from Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Payable to Brokers [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	0	5,017
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Investments in Securities [Member] | Equity Contracts [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	127	236
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Securities Sold, Not yet Purchased [Member] | Equity Contracts [Member]
Derivatives, Fair Value [Line Items]
Liability derivatives fair value	$ 37	$ 86

Investment in Securities, Maste

Investment in Securities, Master Netting Arrangements for Swaps (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	$ 127	$ 236
Swaps [Member]
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	96	177
Gross amounts offset in the statements of financial condition	0	0
Net amounts of assets presented in the statements of financial condition	96	177
Gross amounts not offset in the statements of financial position, assets [Abstract]
Financial instruments	(9)	(81)
Cash collateral received	0	0
Net amount	87	96
Offsetting derivative liabilities [Abstract]
Gross amounts of recognized liabilities	9	81
Gross amounts offset in the statements of financial condition	0	0
Net amounts of liabilities presented in the statements of financial condition	9	81
Gross amounts not offset in the statements of financial position, liabilities [Abstract]
Financial instruments	(9)	(81)
Cash collateral pledged	0	0
Net amount	$ 0	$ 0

Investment in Securities, Summa

Investment in Securities, Summary of Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	$ 217,492,000	$ 214,542,000
Gross unrealized gains	19,302,000	12,940,000
Gross unrealized losses	(14,299,000)	(14,436,000)
Fair value	222,495,000	213,046,000
Unrealized changes to fair value net of taxes included in other comprehensive income	3,200,000	(11,200,000)
Amount reclassified from other comprehensive income	20,000	100,000
Return of capital on available for sale securities	189,000	524,000
Proceeds from sale of investment available for sale	803,000	1,013,000
Gross realized gains on sale of investments available for sale	300,000	30,000
Gross realized losses on sale of investments available for sale	0	0
Common Stocks [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	150,000,000	150,000,000
Gross unrealized gains	0	0
Gross unrealized losses	(14,299,000)	(13,640,000)
Fair value	135,701,000	136,360,000
Closed-end Funds [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	62,890,000	62,070,000
Gross unrealized gains	17,760,000	11,299,000
Gross unrealized losses	0	(778,000)
Fair value	80,650,000	72,591,000
Mutual Funds [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	4,602,000	2,472,000
Gross unrealized gains	1,542,000	1,641,000
Gross unrealized losses	0	(18,000)
Fair value	$ 6,144,000	$ 4,095,000

Investment in Securities, Inv41

Investment in Securities, Investments Classified as Available for Sale in Unrealized Loss Position (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Investment	Dec. 31, 2015USD ($)Investment
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 150,000	$ 190,871
Unrealized losses	(14,299)	(14,436)
Fair value	$ 135,701	$ 176,435
Number of investment holdings in loss positions | Investment	1	6
Other than temporary impairment losses, investments, available-for-sale securities	$ 300	$ 200
Common Stocks [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	150,000	150,000
Unrealized losses	(14,299)	(13,640)
Fair value	$ 135,701	$ 136,360
Investment holding impairment period	7 months	1 month
Closed-end Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 0	$ 40,627
Unrealized losses	0	(778)
Fair value	0	39,849
Mutual Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	0	244
Unrealized losses	0	(18)
Fair value	$ 0	$ 226
Mutual Funds and Closed-end Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment		5
Mutual Funds and Closed-end Funds [Member] | Investment Holding Group One [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment		2
Investment holding impairment period		1 month
Mutual Funds and Closed-end Funds [Member] | Investment Holding Group Two [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment		1
Investment holding impairment period		6 months
Mutual Funds and Closed-end Funds [Member] | Investment Holding Group Three [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment		2
Investment holding impairment period		7 months

Investment in Partnerships, O42

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Breakdown of Consolidated Entities and Investments in Partnerships Line by Accounting Method (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)Entity	Dec. 31, 2015USD ($)Entity
Variable Interest Entity [Line Items]
Investments in affiliated entities | $	$ 112,300	$ 89,300
Investments in unaffiliated entities | $	17,100	15,800
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	8,343	13,953
Equity method | $	121,055	91,098
Total | $	129,398	105,051
Prior to Consolidation [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	133,794	109,274
CFFs [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	3,964	4,506
CFFs [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	8,343	13,953
Equity method | $	0	0
Total | $	8,343	13,953
Partnerships [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	(8,360)	(8,729)
Partnerships [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0
Equity method | $	33,202	39,552
Total | $	33,202	39,552
Partnerships [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0
Equity method | $	6,761	7,911
Total | $	6,761	7,911
Offshore Funds [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	0	0
Offshore Funds [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0
Equity method | $	70,745	35,746
Total | $	70,745	35,746
Offshore Funds [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0
Equity method | $	10,347	7,889
Total | $	$ 10,347	$ 7,889
VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	2	1
Additional consolidated entities	1	1
Deconsolidated entities	(2)	0
Entities consolidated at end of period	1	2
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 0	$ 4,791
VIEs [Member] | CFFs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1
Additional consolidated entities	0	0
Deconsolidated entities	(1)	0
Entities consolidated at end of period	0	1
VIEs [Member] | Partnerships [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	0
Additional consolidated entities	1	0
Deconsolidated entities	0	0
Entities consolidated at end of period	1	0
VIEs [Member] | Offshore Funds [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	0
Additional consolidated entities	0	1
Deconsolidated entities	(1)	0
Entities consolidated at end of period	0	1
VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	4	4
Additional consolidated entities	0	2
Deconsolidated entities	(3)	(2)
Entities consolidated at end of period	1	4
VOEs [Member] | CFFs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	2	2
Additional consolidated entities	0	1
Deconsolidated entities	(1)	(1)
Entities consolidated at end of period	1	2
VOEs [Member] | Partnerships [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	2	1
Additional consolidated entities	0	1
Deconsolidated entities	(2)	0
Entities consolidated at end of period	0	2
VOEs [Member] | Offshore Funds [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	1
Additional consolidated entities	0	0
Deconsolidated entities	0	(1)
Entities consolidated at end of period	0	0
Maximum threshold ownership percentage for deconsolidation	50.00%

Investment in Partnerships, O43

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Net Impact by Line Item on Financial Statements (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Assets [Abstract]
Cash and cash equivalents	$ 314,093				$ 205,750				$ 314,093	$ 205,750	$ 285,530
Investments in securities (including GBL stock)	342,797				333,624				342,797	333,624
Investments in affiliated investment companies	131,645				118,676				131,645	118,676
Investments in partnerships	129,398				105,051				129,398	105,051
Receivable from brokers	12,588				56,510				12,588	56,510
Investment advisory fees receivable	9,784				4,896				9,784	4,896
Other assets	12,298				12,241				12,298	12,241
Total assets	952,603				836,748				952,603	836,748
Liabilities and equity [Abstract]
Securities sold, not yet purchased	9,984				9,623				9,984	9,623
Accrued expenses and other liabilities	64,367				69,838				64,367	69,838
Redeemable noncontrolling interests	4,230				5,738				4,230	5,738
Total equity	874,022				751,549				874,022	751,549	$ 582,927
Total liabilities and equity	952,603				836,748				952,603	836,748
Consolidated Statements of Income [Abstract]
Total revenues	16,295	$ 5,451	$ 4,964	$ 4,517	8,995	$ 4,690	$ 4,590	$ 4,567	31,227	22,842
Total expenses									43,459	37,154
Operating loss	132	(4,497)	(3,352)	(4,515)	(5,883)	(1,081)	(3,468)	(3,880)	(12,232)	(14,312)
Total other income, net									26,577	11,736
Income (loss) before income taxes									14,345	(2,576)
Income tax provision									3,876	(1,685)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									10,469	(891)
Net income attributable to noncontrolling interests									251	(780)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders	3,647	$ 3,959	$ 1,019	$ 1,593	4,189	$ (7,540)	$ 855	$ 2,385	10,218	(111)
Prior to Consolidation [Member]
Assets [Abstract]
Cash and cash equivalents	313,785				205,708				313,785	205,708
Investments in securities (including GBL stock)	336,459				325,692				336,459	325,692
Investments in affiliated investment companies	131,645				118,676				131,645	118,676
Investments in partnerships	133,794				109,274				133,794	109,274
Receivable from brokers	10,542				53,921				10,542	53,921
Investment advisory fees receivable	9,800				4,881				9,800	4,881
Other assets	12,298				12,614				12,298	12,614
Total assets	948,323				830,766				948,323	830,766
Liabilities and equity [Abstract]
Securities sold, not yet purchased	9,984				9,505				9,984	9,505
Accrued expenses and other liabilities	64,317				69,712				64,317	69,712
Redeemable noncontrolling interests	0				0				0	0
Total equity	874,022				751,549				874,022	751,549
Total liabilities and equity	948,323				830,766				948,323	830,766
Consolidated Statements of Income [Abstract]
Total revenues									31,247	22,883
Total expenses									43,285	36,963
Operating loss									(12,038)	(14,080)
Total other income, net									26,086	11,967
Income (loss) before income taxes									14,048	(2,113)
Income tax provision									3,876	(1,685)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									10,172	(428)
Net income attributable to noncontrolling interests									(46)	(317)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									10,218	(111)
CFFs [Member]
Assets [Abstract]
Cash and cash equivalents	0				0				0	0
Investments in securities (including GBL stock)	0				0				0	0
Investments in affiliated investment companies	0								0
Investments in partnerships	3,964				4,506				3,964	4,506
Receivable from brokers	0				0				0	0
Investment advisory fees receivable	(8)				2				(8)	2
Other assets	0				5				0	5
Total assets	3,956				4,513				3,956	4,513
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0				0				0	0
Accrued expenses and other liabilities	13				28				13	28
Redeemable noncontrolling interests	3,943				4,485				3,943	4,485
Total equity	0				0				0	0
Total liabilities and equity	3,956				4,513				3,956	4,513
Consolidated Statements of Income [Abstract]
Total revenues									(17)	(34)
Total expenses									128	114
Operating loss									(145)	(148)
Total other income, net									437	(170)
Income (loss) before income taxes									292	(318)
Income tax provision									0	0
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									292	(318)
Net income attributable to noncontrolling interests									292	(318)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									0	0
Partnerships [Member]
Assets [Abstract]
Cash and cash equivalents	308				41				308	41
Investments in securities (including GBL stock)	6,338				7,849				6,338	7,849
Investments in affiliated investment companies	0								0
Investments in partnerships	(8,360)				(8,729)				(8,360)	(8,729)
Receivable from brokers	2,046				2,164				2,046	2,164
Investment advisory fees receivable	(8)				5				(8)	5
Other assets	0				15				0	15
Total assets	324				1,345				324	1,345
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0				118				0	118
Accrued expenses and other liabilities	37				79				37	79
Redeemable noncontrolling interests	287				1,148				287	1,148
Total equity	0				0				0	0
Total liabilities and equity	324				1,345				324	1,345
Consolidated Statements of Income [Abstract]
Total revenues									(3)	(7)
Total expenses									46	71
Operating loss									(49)	(78)
Total other income, net									54	(69)
Income (loss) before income taxes									5	(147)
Income tax provision									0	0
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									5	(147)
Net income attributable to noncontrolling interests									5	(147)
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									0	0
Offshore Funds [Member]
Assets [Abstract]
Cash and cash equivalents	0				1				0	1
Investments in securities (including GBL stock)	0				83				0	83
Investments in affiliated investment companies	0								0
Investments in partnerships	0				0				0	0
Receivable from brokers	0				425				0	425
Investment advisory fees receivable	0				8				0	8
Other assets	0				(393)				0	(393)
Total assets	0				124				0	124
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0				0				0	0
Accrued expenses and other liabilities	0				19				0	19
Redeemable noncontrolling interests	0				105				0	105
Total equity	0				0				0	0
Total liabilities and equity	$ 0				$ 124				0	124
Consolidated Statements of Income [Abstract]
Total revenues									0	0
Total expenses									0	6
Operating loss									0	(6)
Total other income, net									0	8
Income (loss) before income taxes									0	2
Income tax provision									0	0
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									0	2
Net income attributable to noncontrolling interests									0	2
Net income (loss) attributable to Associated Capital Group, Inc.'s shareholders									$ 0	$ 0

Investment in Partnerships, O44

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Variable Interest Entities (Details)	12 Months Ended
	Dec. 31, 2015USD ($)Entity	Dec. 31, 2016USD ($)	Dec. 31, 2014USD ($)
Variable Interest Entity [Line Items]
Total assets of non-consolidated VIEs	$ 70,200,000
Number of non-consolidated entities | Entity	1
Maximum exposure to loss related to VIEs	$ 9,900,000
Deferred carried interest in VIE	39,000
Balances related to VIEs [Abstract]
Cash and cash equivalents	205,750,000	$ 314,093,000	$ 285,530,000
Investments in securities	333,624,000	342,797,000
Investments in partnerships	105,051,000	129,398,000
Receivable from broker	56,510,000	12,588,000
Payable to brokers	(50,648,000)	(2,396,000)
Accrued expenses and other liabilities	(69,838,000)	(64,367,000)
Redeemable noncontrolling interests	(5,738,000)	(4,230,000)
VIEs [Member]
Balances related to VIEs [Abstract]
Cash and cash equivalents	1,000	308,000
Investments in securities	83,000	6,338,000
Investments in partnerships	4,791,000	0
Receivable from broker	425,000	2,046,000
Other assets	0	(8,000)
Payable to brokers	(6,000)	0
Accrued expenses and other liabilities	(404,000)	(37,000)
Redeemable noncontrolling interests	(350,000)	(287,000)
AC's net interests in consolidated VIE	$ 4,540,000	$ 8,360,000

Investment in Partnerships, O45

Investment in Partnerships, Offshore Funds and Variable Interest Entities, Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Summarized Financial Information [Abstract]
Total assets	$ 2,137,000	$ 2,414,000
Total liabilities	350,000	301,000
Total equity	1,787,000	2,113,000
Net income/(loss)	(17,000)	$ (18,000)
Summarized Financial Information of Single Equity Method Investment Exceeding 20% of Consolidated Total Income
Total investment income	2,848
Net investment loss	(3,462)
Net gains on investments	14,192
Net increase in net assets resulting from operations	$ 10,730

Fair Value, Assets and Liabilit

Fair Value, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Assets [Abstract]
Investments in partnerships		$ 8,343	$ 13,953
Investments in securities (including GBL stock) [Abstract]
Total investments in securities		342,797	333,624
Liabilities [Abstract]
Securities sold, not yet purchased		9,984	9,623
Recurring Basis [Member]
Assets [Abstract]
Cash equivalents		314,082	205,733
Investments in partnerships		129,398	105,051
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		135,701	136,360
AFS - Mutual funds		500	1,143
Trading - Gov't obligations		119,823	99,940
Trading - Common stocks		82,158	92,194
Trading - Mutual funds		3,143	3,216
Trading - Other		1,472	771
Total investments in securities		342,797	333,624
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		80,650	72,591
AFS - Mutual funds		5,644	2,952
Trading - Mutual funds		45,351	43,133
Total investments in affiliated registered investment companies		131,645	118,676
Total investments		603,840	557,351
Total assets at fair value		917,922	763,084
Liabilities [Abstract]
Trading - Common stocks		9,947	9,537
Trading - Other		37	86
Securities sold, not yet purchased		9,984	9,623
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Cash equivalents		314,082	205,733
Investments in partnerships		0	0
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		135,701	136,360
AFS - Mutual funds		500	1,143
Trading - Gov't obligations		119,823	99,940
Trading - Common stocks		81,696	91,686
Trading - Mutual funds		3,143	3,216
Trading - Other		1,062	230
Total investments in securities		341,925	332,575
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		80,650	72,591
AFS - Mutual funds		5,644	2,952
Trading - Mutual funds		45,351	43,133
Total investments in affiliated registered investment companies		131,645	118,676
Total investments		473,570	451,251
Total assets at fair value		787,652	656,984
Liabilities [Abstract]
Trading - Common stocks		9,947	9,537
Trading - Other		0	0
Securities sold, not yet purchased		9,947	9,537
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Cash equivalents		0	0
Investments in partnerships		0	0
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		0	0
AFS - Mutual funds		0	0
Trading - Gov't obligations		0	0
Trading - Common stocks		1	0
Trading - Mutual funds		0	0
Trading - Other		127	236
Total investments in securities		128	236
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		0	0
AFS - Mutual funds		0	0
Trading - Mutual funds		0	0
Total investments in affiliated registered investment companies		0	0
Total investments		128	236
Total assets at fair value		128	236
Liabilities [Abstract]
Trading - Common stocks		0	0
Trading - Other		37	86
Securities sold, not yet purchased		37	86
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Cash equivalents		0	0
Investments in partnerships		0	0
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		0	0
AFS - Mutual funds		0	0
Trading - Gov't obligations		0	0
Trading - Common stocks		461	508
Trading - Mutual funds		0	0
Trading - Other		283	305
Total investments in securities		744	813
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		0	0
AFS - Mutual funds		0	0
Trading - Mutual funds		0	0
Total investments in affiliated registered investment companies		0	0
Total investments		744	813
Total assets at fair value		744	813
Liabilities [Abstract]
Trading - Common stocks		0	0
Trading - Other		0	0
Securities sold, not yet purchased		0	0
Recurring Basis [Member] | Investments Measured at NAV [Member]
Assets [Abstract]
Cash equivalents	[1]	0	0
Investments in partnerships	[1]	125,527	101,454
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks	[1]	0	0
AFS - Mutual funds	[1]	0	0
Trading - Gov't obligations	[1]	0	0
Trading - Common stocks	[1]	0	0
Trading - Mutual funds	[1]	0	0
Trading - Other	[1]	0	0
Total investments in securities	[1]	0	0
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds	[1]	0	0
AFS - Mutual funds	[1]	0	0
Trading - Mutual funds	[1]	0	0
Total investments in affiliated registered investment companies	[1]	0	0
Total investments	[1]	125,527	101,454
Total assets at fair value	[1]	125,527	101,454
Liabilities [Abstract]
Trading - Common stocks	[1]	0	0
Trading - Other	[1]	0	0
Securities sold, not yet purchased	[1]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member]
Assets [Abstract]
Cash equivalents	[2]	0	0
Investments in partnerships	[2]	3,871	3,597
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks	[2]	0	0
AFS - Mutual funds	[2]	0	0
Trading - Gov't obligations	[2]	0	0
Trading - Common stocks	[2]	0	0
Trading - Mutual funds	[2]	0	0
Trading - Other	[2]	0	0
Total investments in securities	[2]	0	0
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds	[2]	0	0
AFS - Mutual funds	[2]	0	0
Trading - Mutual funds	[2]	0	0
Total investments in affiliated registered investment companies	[2]	0	0
Total investments	[2]	3,871	3,597
Total assets at fair value	[2]	3,871	3,597
Liabilities [Abstract]
Trading - Common stocks	[2]	0	0
Trading - Other	[2]	0	0
Securities sold, not yet purchased	[2]	$ 0	$ 0
[1]	Amounts are comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy (see Note B, Recent Accounting Developments, for more detail).
[2]	Amounts are comprised of certain equity method investments which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees do not account for both their financial assets and liabilities under fair value measures; therefore, the Company's investment in such equity method investees may not represent fair value.

Fair Value, Changes in Level 3

Fair Value, Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	$ 813	$ 1,587
Total realized and unrealized gains or (losses) in income - trading	(49)	(97)
Total realized and unrealized gains or (losses) in income - AFS investments	0	0
Total unrealized gains or (losses) included in other comprehensive income	0	0
Total realized and unrealized gains or (losses)	(49)	(97)
Purchases	0	11
Sales	(20)	(318)
Transfers in and/or (out) of Level 3	0	(370)
Ending balance	744	813
Trading - Common Stocks [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	508	1,293
Total realized and unrealized gains or (losses) in income - trading	(47)	(195)
Total realized and unrealized gains or (losses) in income - AFS investments	0	0
Total unrealized gains or (losses) included in other comprehensive income	0	0
Total realized and unrealized gains or (losses)	(47)	(195)
Purchases	0	6
Sales	0	(238)
Transfers in and/or (out) of Level 3	0	(358)
Ending balance	461	508
Trading - Other [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	305	294
Total realized and unrealized gains or (losses) in income - trading	(2)	98
Total realized and unrealized gains or (losses) in income - AFS investments	0	0
Total unrealized gains or (losses) included in other comprehensive income	0	0
Total realized and unrealized gains or (losses)	(2)	98
Purchases	0	5
Sales	(20)	(80)
Transfers in and/or (out) of Level 3	0	(12)
Ending balance	$ 283	$ 305

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Federal [Abstract]
Current	$ 5,018,000	$ 4,540,000
Deferred	(1,231,000)	(6,160,000)
State and local [Abstract]
Current	236,000	225,000
Deferred	(147,000)	(290,000)
Total	$ 3,876,000	$ (1,685,000)
Reconciliation of the Federal statutory rate to the effective tax rate [Abstract]
Statutory Federal income tax rate	34.00%	34.00%
State income tax, net of federal benefit	1.20%	1.60%
Dividends received deduction	(3.60%)	26.40%
Donation of appreciated securities	(4.50%)	3.20%
Noncontrolling interests	(0.70%)	0.00%
Other	0.60%	0.20%
Effective income tax rate	27.00%	65.40%
Deferred tax assets [Abstract]
Stock compensation expense	$ 719,000	$ 77,000
Deferred compensation	1,315,000	871,000
Investments in securities available for sale	3,652,000	5,523,000
Shareholder-designated contribution	1,461,000	0
Other	4,000	0
Total deferred tax assets	7,151,000	6,471,000
Deferred tax liabilities [Abstract]
Investments in securities and partnerships	(11,103,000)	(9,839,000)
Other liabilities	0	(41,000)
Total deferred tax liabilities	(11,103,000)	(9,880,000)
Net deferred tax liabilities	(3,952,000)	(3,409,000)
Reconciliation of the beginning and ending amount of gross unrecognized tax benefits [Roll Forward]
Balance at January 1, 2015	(15,678)	57,054,000
Additions based on tax positions related to the current year	0	(59,700)
Additions for tax positions of prior years	125,500	0
Reductions for tax positions of prior years	(9,700)	(1,900)
Settlements	0	(11,200)
Balance, end of period	100,149	(15,678)
Unrecognized tax benefits that would impact effective tax rate	66,098	(10,347)
Accrued liabilities for interest and penalties	$ 94,428	$ 83,950

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) shares in Millions	Dec. 28, 2015	Nov. 28, 2015	Nov. 27, 2015	Mar. 07, 2014	Feb. 28, 2007	Dec. 31, 2016	Dec. 31, 2015	Aug. 17, 2010	Mar. 15, 2004
Related Party Transaction [Line Items]
Debt instrument, face amount		$ 150,000,000
Debt instrument, interest rate		4.00%
Debt instrument, term		5 years
GCIA Note [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount			$ 150,000,000
Debt instrument, interest rate			4.00%
Interest expenses							$ 66,000
Debt instrument, term						5 years
GAMCO Note [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount						$ 250,000,000
Debt instrument, interest rate						4.00%
Repayment of debt						$ 150,000,000
Principal amount outstanding						$ 100,000,000
Debt instrument, maturity date						Nov. 30, 2020
GAMCO Note Payable due on November 30, 2016 [Member]
Related Party Transaction [Line Items]
Repayment of debt						$ 50,000,000
Debt instrument, maturity date						Nov. 30, 2016
GAMCO Note Payable due on November 30 2017 [Member]
Related Party Transaction [Line Items]
Repayment of debt						$ 40,000,000
Principal amount outstanding						$ 10,000,000
Debt instrument, maturity date						Nov. 30, 2017
GAMCO Note Payable due on November 30, 2018 [Member]
Related Party Transaction [Line Items]
Repayment of debt						$ 30,000,000
Principal amount outstanding						$ 20,000,000
Debt instrument, maturity date						Nov. 30, 2018
GAMCO Note Payable due on November 30, 2019 [Member]
Related Party Transaction [Line Items]
Repayment of debt						$ 30,000,000
Principal amount outstanding						$ 20,000,000
Debt instrument, maturity date						Nov. 30, 2019
GAMCO Note Payable due on November 30, 2020 [Member]
Related Party Transaction [Line Items]
Principal amount outstanding						$ 50,000,000
Debt instrument, maturity date						Nov. 30, 2020
GGCP Holdings LLC [Member] | Class B Common Stock [Member]
Related Party Transaction [Line Items]
Ownership percentage of voting rights						94.00%
Percentage of outstanding shares of common stock						76.00%
GAMCO [Member] | 5.5% Demand Loan [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount							0	$ 16,000,000	$ 15,000,000
Debt instrument, interest rate								5.50%	5.50%
Repayment of debt	$ 16,000,000			$ 10,000,000	$ 5,000,000
Interest expenses							$ 900,000
GCIA [Member] | Class A Common Stock [Member]
Related Party Transaction [Line Items]
Shares owned by related party (in shares)			4.4

Related Party Transactions, Inv

Related Party Transactions, Investments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2006
Investments in Securities [Abstract]
Proprietary investment account	$ 39,000,000	$ 41,000,000
Percentage of net profits earned on fund performance	20.00%
Investments in Gabelli U.S. Treasury Money Market Fund	$ 314,100,000	205,700,000
Investments in Partnerships [Abstract]
Investment in affiliated partnerships and offshore funds	112,300,000	89,300,000
Investment Advisory Services [Abstract]
Payable to affiliates	1,455,000	0
GAMCO [Member]
Investments in Securities [Abstract]
Investments in affiliated equity mutual funds	132,100,000	119,800,000
Investment Advisory Services [Abstract]
Revenue from related parties	420,252
Son of Chairman [Member]
Investments in Securities [Abstract]
Percentage of net profits earned on fund performance			20.00%
Initial funding of proprietary account			$ 40,000,000
Withdrawals amount from 2009 through 2015	40,000,000
Balance in funding of proprietary account	14,600,000	13,700,000
Balance in funding of proprietary account owed to portfolio manager	$ 2,700,000	$ 2,400,000
Increase in proprietary account	6.60%	2.40%
Fees earned for managing proprietary account	$ 100,000	$ 100,000
President and Director [Member] | GS International [Member]
Investment Advisory Services [Abstract]
Percentage of outstanding shares of common stock	55.00%
GCIA [Member] | GS International [Member]
Investment Advisory Services [Abstract]
Percentage of outstanding shares of common stock	45.00%
Gabelli International Gold Fund Limited [Member] | Advisory Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	$ 0	3,304
Payable to affiliates	0	7,904
Gabelli International Gold Fund Limited [Member] | Incentive Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	0	0
Gemini Global Partners LP [Member] | GSI and Gemini [Member] | Advisory Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	63,196	70,345
Payable to affiliates	201,065	201,065
Receivable from affiliates	168,311	168,311
Gemini Global Partners LP [Member] | GSI and Gemini [Member] | Incentive Fees [Member]
Investment Advisory Services [Abstract]
Revenue from related parties	$ 0	$ 0

Related Party Transactions, Com

Related Party Transactions, Compensation and Others (Details)	1 Months Ended				9 Months Ended	12 Months Ended
	Aug. 31, 2016	Jun. 30, 2016	May 31, 2016	Mar. 31, 2016	Dec. 31, 2016USD ($)	Dec. 31, 2016USD ($)Fund	Dec. 31, 2015USD ($)	Jun. 30, 2015USD ($)
Compensation [Abstract]
Management fee expense percentage					10.00%	10.00%
Management fee expense (contra expenses)						$ 1,593,000	$ (309,000)
Other [Abstract]
General partners percentage of incentive allocation						20.00%
GCIA [Member]
Other [Abstract]
Percentage of revenue transferred						90.00%
Amounts of transaction						$ 2,708,084	1,007,164
GAMCO [Member]
Other [Abstract]
Revenue from related parties						$ 420,252
Number of preferred stock offerings | Fund						5
GAMCO [Member] | Office Space in Rye, NY [Member]
Other [Abstract]
Lease term						15 years
Expenses from transactions with related party						$ 77,444	310,566
Rent paid					$ 276,238
GAMCO Asset Management Inc [Member]
Other [Abstract]
Revenue from related parties						$ 5,200,000	$ 4,900,000
Revenue percentage earned						63.00%	59.00%
Payment received from related parties						$ 1,500,000	$ 700,000
Gabelli Funds, LLC [Member]
Other [Abstract]
Payment received from related parties						1,500,000	800,000
GRX Series B [Member]
Other [Abstract]
Revenue from related parties						5,495	0
GGN [Member]
Other [Abstract]
Revenue from related parties						$ 1,178,330	0
Gabelli Healthcare & WellnessRx Trust [Member] | GRX Series B [Member]
Other [Abstract]
Preferred stock, dividend rate						5.875%
G.distributors, LLC [Member]
Other [Abstract]
Revenue from related parties							$ 300,000
G.research LLC [Member]
Other [Abstract]
Deferred tax liabilities								$ 88,227
Fair value of assets acquired								$ 234,000
G.research LLC [Member] | GCIA [Member]
Other [Abstract]
Ownership percentage of voting rights								100.00%
Deferred tax assets								$ 88,227
G.research LLC [Member] | DHI [Member]
Other [Abstract]
Deferred tax liabilities								$ 1,937,670
Gabelli Equity Trust [Member] | Series J Preferred Stock [Member]
Other [Abstract]
Preferred stock, dividend rate				5.45%
Gabelli Global Small and Mid Cap Value Trust [Member] | Series A Preferred Stock [Member]
Other [Abstract]
Preferred stock, dividend rate			5.45%
Gabelli Utility Trust [Member] | Series C Preferred Stock [Member]
Other [Abstract]
Preferred stock, dividend rate			5.375%
Gabelli Dividend & Income Trust [Member] | Series G Preferred Stock [Member]
Other [Abstract]
Preferred stock, dividend rate		5.25%
Bancroft Fund [Member] | Series A Preferred Stock [Member]
Other [Abstract]
Preferred stock, dividend rate	5.375%

Stockholders Equity (Details)

Stockholders Equity (Details) $ / shares in Units, $ in Thousands	Dec. 30, 2016USD ($)$ / sharesshares	Nov. 30, 2015shares	Dec. 31, 2016USD ($)VoteperShare$ / sharesshares	Dec. 31, 2015USD ($)shares
Voting Rights [Abstract]
Compensation cost related to non-vested restricted stock awards and options not yet recognized			$ 4,600
Projected compensation cost not yet recognized [Abstract]
2,017			1,642
2,018			1,082
2,019			893
2,020			413
2,021			275
2,022			168
2,023			72
2,024			12
Stock based compensation expense			2,464	$ 4,931
Tax benefit from compensation expense			$ 800	1,700
Shares repurchased during the period (in shares) | shares			1,300,000
Average price per share of repurchased shares (in dollars per share) | $ / shares			$ 31.10
Total investment amount			$ 41,600
Accrued expenses and other liabilities			$ 35,862	$ 1,466
Dividends declared, common stock (in dollars per share) | $ / shares			$ 0.20
Class A Common Stock [Member]
Voting Rights [Abstract]
Number of votes per share | VoteperShare			1
Projected compensation cost not yet recognized [Abstract]
Dividends declared, common stock (in dollars per share) | $ / shares			$ 0.20
Total dividends declared			$ 5,000
Dividends payable			$ 2,400
Dividends payable, date to be paid			Jan. 25, 2017
Class B Common Stock [Member]
Voting Rights [Abstract]
Number of votes per share | VoteperShare			10
Projected compensation cost not yet recognized [Abstract]
Dividends declared, common stock (in dollars per share) | $ / shares			$ 0.20
Total dividends declared			$ 5,000
Dividends payable			$ 2,400
Dividends payable, date to be paid			Jan. 25, 2017
Unaffiliated Third Party [Member]
Projected compensation cost not yet recognized [Abstract]
Shares repurchased during the period (in shares) | shares	926,345
Average price per share of repurchased shares (in dollars per share) | $ / shares	$ 31.05
Accrued expenses and other liabilities	$ 28,800
Restricted Stock Awards [Member]
Voting Rights [Abstract]
Shares issued (in shares) | shares			0	0
Shares outstanding (in shares) | shares			424,340	553,100
Projected compensation cost not yet recognized [Abstract]
Stock compensation expense recognized due to acceleration of lapsing of restrictions on RSAs				$ 2,400
Restricted Stock Awards [Member] | GAMCO [Member]
Voting Rights [Abstract]
Shares issued (in shares) | shares				0
Shares outstanding (in shares) | shares			424,340	553,100
Restricted Stock Awards [Member] | Spinoff [Member]
Voting Rights [Abstract]
Shares issued (in shares) | shares		554,100

Retirement Plan (Details)

Retirement Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Retirement Plan [Abstract]
Allocated contributions	$ 34,000	$ 12,000

Net Capital Requirements (Detai

Net Capital Requirements (Details)	12 Months Ended
	Dec. 31, 2016USD ($)Borrowing	Dec. 31, 2015USD ($)Borrowing
Net Capital Requirements [Abstract]
Minimum net capital required for broker dealer subsidiary	$ 250,000	$ 250,000
Percentage of aggregate debit items in reserve formula for minimum net capital required for broker dealer	2.00%	2.00%
Net capital	$ 3,700,000	$ 7,100,000
Excess amount of minimum capital requirement	$ 3,400,000	$ 6,900,000
Number of subordinated borrowings | Borrowing	0	0

Shareholder-Designated Contri55

Shareholder-Designated Contribution Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Shareholder-Designated Contribution Plan [Abstract]
Shareholder designated contribution plan	$ 5,411	$ 0

Quarterly Financial Informati56

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Information (Unaudited) [Abstract]
Revenues	$ 16,295	$ 5,451	$ 4,964	$ 4,517	$ 8,995	$ 4,690	$ 4,590	$ 4,567	$ 31,227	$ 22,842
Operating income (loss)	132	(4,497)	(3,352)	(4,515)	(5,883)	(1,081)	(3,468)	(3,880)	(12,232)	(14,312)
Net income attributable to Associated Capital Group, Inc.'s shareholders	$ 3,647	$ 3,959	$ 1,019	$ 1,593	$ 4,189	$ (7,540)	$ 855	$ 2,385	$ 10,218	$ (111)
Net income attributable to Associated Capital Group, Inc.'s shareholders per share:
Basic (in dollars per share)	$ 0.15	$ 0.16	$ 0.04	$ 0.06	$ 0.17	$ (0.30)	$ 0.03	$ 0.09	$ 0.41	$ 0
Diluted (in dollars per share)	$ 0.15	$ 0.16	$ 0.04	$ 0.06	$ 0.17	$ (0.30)	$ 0.03	$ 0.09	$ 0.41	$ 0

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 07, 2017	Feb. 07, 2017	Jan. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Subsequent Event [Line Items]
Number of shares of stock repurchased (in shares)					1,300,000
Average price per share of repurchased shares (in dollars per share)					$ 31.10
GAMCO Note [Member]
Subsequent Event [Line Items]
Repayment to debt					$ 150
Principal amount outstanding					$ 100
Subsequent Event [Member] | Class A Common Stock [Member]
Subsequent Event [Line Items]
Contribution price (in dollars per share)	$ 0.25
Total contribution	$ 6.1	$ 6.1
Subsequent Event [Member] | Class B Common Stock [Member]
Subsequent Event [Line Items]
Contribution price (in dollars per share)	$ 0.25
Total contribution	$ 6.1	$ 6.1
Subsequent Event [Member] | Repurchase of Common Stock [Member]
Subsequent Event [Line Items]
Number of shares of stock repurchased (in shares)		3,762		0
Average price per share of repurchased shares (in dollars per share)		$ 33.45		$ 0
Shares available to be repurchsed under the plan (in shares)	500,000	500,000		500,000
Subsequent Event [Member] | GAMCO Note [Member]
Subsequent Event [Line Items]
Repayment to debt			$ 10
Principal amount outstanding			$ 90