Associated Capital (AC) 10-Q 3 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 30, 2017
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	Accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		5,033,013
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,195,649

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION UNAUDITED - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
ASSETS
Cash and cash equivalents	$ 307,651	$ 314,093	$ 203,239
Investments in securities	193,120	207,096	184,819
Investment in GBL stock (4,393,055 shares)	129,990	135,701	162,807
Investments in affiliated registered investment companies	136,284	131,645	115,916
Investments in partnerships	130,058	129,398	113,147
Receivable from brokers	12,021	12,588	23,278
Investment advisory fees receivable	1,349	9,784	1,463
Receivable from affiliates	1,524	1,523	3,507
Goodwill	3,422	3,422	3,254
Other assets	2,214	7,353	1,270
Total assets	917,633	952,603	812,700
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers	6,168	2,396	12,251
Income taxes payable and deferred tax liabilities	4,506	6,978	13,357
Compensation payable	5,991	17,676	4,893
Securities sold, not yet purchased	7,519	9,984	8,014
Mandatorily redeemable noncontrolling interests	0	0	1,421
Payable to affiliates	560	1,455	673
Accrued expenses and other liabilities	7,008	35,862	4,072
Total liabilities	31,752	74,351	44,681
Redeemable noncontrolling interests	4,050	4,230	3,752
Equity:
Preferred stock, $.001 par value; 10,000,000 shares authorized; none issued and outstanding	0	0	0
Additional paid-in capital	1,007,471	1,007,027	999,644
Retained earnings	(5,751)	7,327	1,131
GBL 4% PIK Note	(90,000)	(100,000)	(250,000)
Accumulated comprehensive income	11,886	1,317	12,933
Treasury stock, at cost (1,343,694, 1,339,932 and 89,778 shares, respectively)	(41,800)	(41,674)	(2,464)
Total Associated Capital Group, Inc. equity	881,831	874,022	761,269
Noncontrolling interests	0	0	2,998
Total equity	881,831	874,022	764,267
Total liabilities and equity	917,633	952,603	812,700
Class A [Member]
Equity:
Common stock	6	6	6
Class B [Member]
Equity:
Common stock	$ 19	$ 19	$ 19

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION UNAUDITED (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0	0
Preferred stock, shares outstanding (in shares)	0	0	0
Common stock, shares outstanding (in shares)	24,200,000	24,300,000	25,400,000
Treasury stock, shares (in shares)	1,343,694	1,339,932	89,778
GBL 4% PIK Note [Member]
Equity:
Debt instrument, interest rate	4.00%
Class A [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,395,380	6,398,580	6,244,452
Common stock, shares outstanding (in shares)	5,051,686	5,058,648	6,154,674
Class B [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, shares issued (in shares)	19,196,792	19,196,792	19,196,792
Common stock, shares outstanding (in shares)	19,196,792	19,196,792	19,196,792

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF INCOME UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues
Investment advisory and incentive fees	$ 2,401	$ 2,068
Institutional research services	2,582	2,438
Other	4	11
Total revenues	4,987	4,517
Expenses
Compensation	6,783	6,312
Management fee	0	274
Stock based compensation	444	644
Other operating expenses	2,092	1,802
Total expenses	9,319	9,032
Operating loss	(4,332)	(4,515)
Other income (expense)
Net gain/(loss) from investments	(14,401)	3,709
Interest and dividend income	2,257	3,434
Interest expense	(70)	(420)
Shareholder-designated contribution	(4,895)	0
Total other income/(expense), net	(17,109)	6,723
Income/(loss) before income taxes	(21,441)	2,208
Income tax provision	(8,424)	661
Net income/(loss)	(13,017)	1,547
Net income/(loss) attributable to noncontrolling interests	61	(46)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (13,078)	$ 1,593
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share:
Basic (in dollars per share)	$ (0.55)	$ 0.06
Diluted (in dollars per share)	$ (0.55)	$ 0.06
Weighted average shares outstanding:
Basic (in shares)	23,829	24,863
Diluted (in shares)	23,829	25,177
Dividends declared (in dollars per share)	$ 0	$ 0.10

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED [Abstract]
Net income/(loss)		$ (13,017)	$ 1,547
Other comprehensive income, net of tax:
Net unrealized gains on securities available for sale	[1]	10,569	15,514
Other comprehensive income		10,569	15,514
Comprehensive income/(loss)		(2,448)	17,061
Less: Comprehensive income attributable to noncontrolling interests		61	678
Comprehensive income/(loss) attributable to Associated Capital Group, Inc.		$ (2,509)	$ 16,383
[1]	Net of income tax expense/(benefit) of $(6,181), $34, $2,545 and $123, respectively.

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other comprehensive income, net of tax:
Net unrealized gains on securities available for sale, income tax expense	$ 5,945	$ 8,726

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED - USD ($) $ in Thousands	Noncontrolling Interests [Member]	Common Stock [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, 2015	$ 2,353	$ 25	$ 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	(208)
Deconsolidation of an offshore fund	0	0	0	0	0	0	0	0	(1,811)
Net income (loss)	(79)	0	1,593	0	0	0	0	1,514	33
Net unrealized gains (losses) on securities available for sale, net of income tax expense (benefit)	724	0	0	0	0	14,790	0	15,514	0
Dividends declared ($0.10 per share)	0	0	(2,534)	0	0	0	0	(2,534)	0
Stock based compensation expense	0	0	0	644	0	0	0	644	0
Purchase of treasury stock	0	0	0	0	0	0	(2,420)	(2,420)	0
Balance at Mar. 31, 2016	$ 2,998	25	1,131	999,644	(250,000)	12,933	(2,464)	764,267	3,752
Balance at Dec. 31, 2016		25	7,327	1,007,027	(100,000)	1,317	(41,674)	874,022	4,230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Redemptions of noncontrolling interests		0	0	0	0	0	0	0	(241)
Contributions from redeemable noncontrolling interests		0	0	0	0	0	0	0	0
Net income (loss)		0	(13,078)	0	0	0	0	(13,078)	61
Net unrealized gains (losses) on securities available for sale, net of income tax expense (benefit)		0	0	0	0	(1,675)	0	(1,675)	0
Amounts reclassified from accumulated other comprehensive income, net of income tax expense ($6,887)		0	0	0	0	12,244	0	12,244	0
Stock based compensation expense		0	0	444	0	0	0	444	0
Proceeds from payment of GBL 4% PIK Note		0	0	0	10,000	0	0	10,000	0
Purchase of treasury stock		0	0	0	0	0	(126)	(126)	0
Balance at Mar. 31, 2017		$ 25	$ (5,751)	$ 1,007,471	$ (90,000)	$ 11,886	$ (41,800)	$ 881,831	$ 4,050

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net unrealized gains (losses) on securities available for sale, income tax expense (benefit)	$ (942)	$ 8,726
Amounts reclassified from accumulated other comprehensive income, income tax expense	$ 6,887
Dividend declared (in dollars per share)	$ 0	$ 0.10
GBL 4% PIK Note [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Debt instrument, interest rate	4.00%

CONDENSED CONSOLIDATED STATEME9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net income/(loss)	$ (13,017)	$ 1,547
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity in net gains from partnerships	(696)	(2,181)
Depreciation and amortization	4	3
Stock based compensation expense	444	644
Other-than-temporary loss on available for sale securities	19,131	0
Donated securities	566	0
(Increase) decrease in assets:
Investments in trading securities	11,056	9,801
Investments in partnerships:
Contributions to partnerships	(4,964)	(17,617)
Distributions from partnerships	5,000	11,699
Receivable from affiliates	(1)	3,951
Receivable from brokers	567	32,535
Investment advisory fees receivable	8,435	3,414
Other assets	5,134	628
Increase (decrease) in liabilities:
Payable to brokers	3,772	(38,376)
Income taxes payable and deferred tax liabilities	(8,416)	(1,038)
Payable to affiliates	(895)	673
Compensation payable	(11,685)	(6,032)
Mandatorily redeemable noncontrolling interests	0	292
Accrued expenses and other liabilities	(28,853)	132
Total adjustments	(1,401)	(1,472)
Net cash (used in) provided by operating activities	(14,418)	75
Investing activities
Purchases of available for sale securities	(2,080)	(219)
Proceeds from sales of available for sale securities	0	0
Return of capital on available for sale securities	423	263
Net cash (used in) provided by investing activities	(1,657)	44
Financing activities
Contributions from redeemable noncontrolling interests	0	0
Redemptions of redeemable noncontrolling interests	(241)	(208)
Net transfer from GBL	0	0
Purchase of treasury stock	(126)	(2,420)
Dividends paid	0	0
Proceeds from payment of GBL 4% PIK Note	10,000	0
Net cash provided by (used in) financing activities	9,633	(2,628)
Net increase (decrease) in cash and cash equivalents	(6,442)	(2,509)
Cash and cash equivalents at beginning of period	314,093	205,750
Increase in cash from consolidation	0	0
Decrease in cash from deconsolidation	0	(2)
Cash and cash equivalents at end of period	307,651	203,239
Supplemental disclosures of cash flow information:
Cash paid for interest	70	128
Cash paid for taxes	$ 0	$ 1,600

CONDENSED CONSOLIDATED STATEM10

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED (Parenthetical) - USD ($) $ in Thousands	Jan. 01, 2016	Mar. 31, 2017	Mar. 31, 2016
Non-cash activity:
Decrease in cash and cash equivalents from deconsolidation	$ (1)
Decrease in net assets from deconsolidation	(104)
Decrease in redeemable noncontrolling interests from deconsolidation	(105)		$ 0
Increase in cash and cash equivalent from consolidation		$ 0	0
Dividends accrued on restricted stock awards		$ 0	$ 49
Accounting Standards Update 2015-02 [Member]
Non-cash activity:
Decrease 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)
GBL 4% PIK Note [Member]
Financing activities
Debt instrument, interest rate		4.00%

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Basis of Presentation and Significant Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	A. Basis of Presentation and Significant Accounting Policies 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. The Spin-off and Related Transactions 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 We operate our institutional research services operations through G.research, LLC ("G.research") doing business as “Gabelli & Company”, a wholly owned subsidiary of Institutional Services Holdings, LLC which in turn is a wholly owned subsidiary of the 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. G.research is regulated by the Financial Industry Regulatory Authority ("FINRA"). G.research's revenues are derived primarily from institutional research services. 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. AC has received principal repayments totaling $160 million on the GAMCO Note, of which $10 million was received during the first quarter of 2017. $50 million of the prepayment was applied against the principal amount due on November 30, 2016, $50 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 $90 million principal amount outstanding, $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 addition, AC Group through GCIA GCIA GCIA GCIA GCIA GCIA The GCIA Note is thus now an intercompany note within the AC Group. Basis of Presentation The unaudited interim condensed consolidated financial statements of AC Group included herein have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP in the United States for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair presentation of financial position, results of operations and cash flows of the Company for the interim periods presented and are not necessarily indicative of a full year’s results. The interim condensed consolidated financial statements include the accounts of AC Group and its subsidiaries. Intercompany accounts and transactions are eliminated. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2016. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported on the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Reclassification The Company has reclassified certain prior-period amounts to conform to the current-period presentation. For presentation of 2017 results, the Company reported revenue from its research services agreement with GAMCO in “Institutional Research Services Revenue” instead of “Other Revenue”. The reclassification did not impact revenue, operating expenses, operating income, net income, or equity. Recent Accounting Developments In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 condensed 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 10Q 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 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 but does not expect it will have a material impact on its condensed consolidated financial statements, although the adoption will likely have an impact around disclosures related to revenue. 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 condensed 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 condensed 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 condensed consolidated financial statements.

Investment in Securities

Investment in Securities	3 Months Ended
	Mar. 31, 2017
Investment in Securities [Abstract]
Investment in Securities	B. Investment in Securities Investments in securities (including GAMCO stock) at March 31, 2017, December 31, 2016 and March 31, 2016 consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ 99,687 $ 99,820 $ 119,755 $ 119,823 $ 99,841 $ 99,964 Common stocks 71,511 85,802 69,503 82,158 66,906 79,571 Mutual funds 2,405 3,333 2,402 3,143 2,579 3,215 Other investments 3,411 3,654 1,275 1,472 648 918 Total trading securities 177,014 192,609 192,935 206,596 169,974 183,668 Available for sale securities: Common stocks 130,869 129,990 150,000 135,701 150,000 162,807 Mutual funds 206 511 206 500 627 1,151 Total available for sale securities 131,075 130,501 150,206 136,201 150,627 163,958 Total investments in securities $ 308,089 $ 323,110 $ 343,141 $ 342,797 $ 320,601 $ 347,626 Securities sold, not yet purchased at March 31, 2017, December 31, 2016 and March 31, 2016 consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Proceeds Fair Value Proceeds Fair Value Proceeds Fair Value Trading securities: (In thousands) Common stocks $ 7,279 $ 7,467 $ 9,583 $ 9,947 $ 7,951 $ 7,947 Other investments 1 52 27 37 2 67 Total securities sold, not yet purchased $ 7,280 $ 7,519 $ 9,610 $ 9,984 $ 7,953 $ 8,014 Investments in affiliated registered investment companies at March 31, 2017, December 31, 2016 and March 31, 2016 consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,096 $ 45,250 $ 40,096 $ 45,351 $ 40,097 $ 43,798 Total trading securities 40,096 45,250 40,096 45,351 40,097 43,798 Available for sale securities: Closed-end funds 64,589 85,123 62,890 80,650 60,865 69,052 Mutual funds 4,387 5,911 4,396 5,644 1,841 3,066 Total available for sale securities 68,976 91,034 67,286 86,294 62,706 72,118 Total investments in affiliated registered investment companies $ 109,072 $ 136,284 $ 107,382 $ 131,645 $ 102,803 $ 115,916 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. Available for sale (“AFS”) investments are stated at fair value, with any unrealized gains or losses, net of taxes, reported as a component of equity except for losses deemed to be other than temporary (“OTT”) which are recorded as realized losses in the condensed consolidated statements of income. The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") into income for the three months ended March 31, 2017 and 2016 (in thousands): Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Three months ended March 31, 2017 2016 $ (19,131 ) $ - Net gain/(loss) from investments Other than temporary impairment of AFS securities (19,131 ) - Income/(loss) before income taxes 6,887 - Income tax provision $ (12,244 ) $ - 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 condensed 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 March 31, 2017, December 31, 2016 and March 31, 2016, we held derivative contracts on (3,041) equity shares, 16,000 equity shares and 317,000 equity shares, respectively, that are included in investments in securities or securities sold, not yet purchased on the condensed consolidated statements of financial condition. We had no foreign exchange contracts outstanding at March 31, 2017 and December 31, 2016. We had two foreign exchange contracts outstanding at March 31, 2016 that are included in payable to brokers on the condensed consolidated statements of financial condition. Aside from one foreign exchange contract at March 31, 2016, these transactions are not designated as hedges for accounting purposes, and therefore changes in fair values of these derivatives are included in net gain/(loss) from investments on the condensed 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 the London Stock Exchange listed Gabelli Value Plus+ Trust Ltd. closed-end fund which is denominated in British Pounds. As the underlying investment that is 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/(loss) from investments on the condensed consolidated statements of income and not in accumulated comprehensive income. The following tables identify the fair values and gains and losses of all derivatives held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition March 31, December 31, March 31, Financial Condition March 31, December 31, March 31, Location 2017 2016 2016 Location 2017 2016 2016 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange Receivable from contracts brokers $ - $ - $ - Payable to brokers $ - $ - $ 2,875 Sub total $ - $ - $ - $ - $ - $ 2,875 Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in Securities sold, securities $ 102 $ 127 $ 185 not yet purchased $ 52 $ 37 $ 67 Foreign exchange Receivable from contracts brokers - - - Payable to brokers - - 5,223 Sub total $ 102 $ 127 $ 185 $ 52 $ 37 $ 5,290 Total derivatives $ 102 $ 127 $ 185 $ 52 $ 37 $ 8,165 Type of Derivative Income Statement Location Three Months ended March 31, 2017 2016 Foreign exchange contracts Net gain/(loss) from investments $ - $ 1,192 Equity contracts Net gain/(loss) from investments (11 ) 69 Total $ (11 ) $ 1,261 The Company is a party to enforceable master netting arrangements for swaps entered into as part of the investment strategy of the Company’s proprietary portfolio. 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 condensed 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) March 31, 2017 $ 102 $ - $ 102 $ (51 ) $ - $ 51 December 31, 2016 96 - 96 (9 ) - 87 March 31, 2016 $ 185 $ - $ 185 $ (66 ) $ - $ 119 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) March 31, 2017 $ 51 $ - $ 51 $ (51 ) $ - $ - December 31, 2016 9 - 9 (9 ) - - March 31, 2016 $ 66 $ - $ 66 $ (66 ) $ - $ - The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available for sale investments as of March 31, 2017, December 31, 2016 and March 31, 2016: March 31, 2017 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 130,869 $ - $ (879 ) $ 129,990 Closed-end funds 64,589 20,600 (66 ) 85,123 Mutual funds 4,593 1,829 - 6,422 Total available for sale securities $ 200,051 $ 22,429 $ (945 ) $ 221,535 December 31, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair 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 March 31, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 150,000 $ 12,807 $ - $ 162,807 Closed-end funds 60,865 11,828 (3,641 ) 69,052 Mutual funds 2,468 1,749 - 4,217 Total available for sale securities $ 213,333 $ 26,384 $ (3,641 ) $ 236,076 Changes in net unrealized gains, net of taxes, for the three months ended March 31, 2017 and March 31, 2016 of $10.6 million and $15.5 million in gains, respectively, have been included in other comprehensive income, a component of equity, at March 31, 2017 and March 31, 2016. Return of capital on available for sale securities was $0.4 million and $0.3 million for the three months ended March 31, 2017 and 2016, respectively. For the three months ended March 31, 2017 and March 31, 2016, there were no proceeds from the sales of investments available for sale and no gross gains on the sale of investments available for sale. There were no losses on the sale of investments available for sale for the three months ended March 31, 2017 or March 31, 2016. The cost basis of a security sold is determined using specific identification. Investments classified as available for sale that are in an unrealized loss position for which other-than-temporary impairment has not been recognized consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Unrealized Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value Cost Losses Fair Value (in thousands) Common stocks $ 130,869 $ (879 ) $ 129,990 $ 150,000 $ (14,299 ) $ 135,701 $ - $ - $ - Closed-end funds 1,864 (66 ) 1,798 - - - 39,413 (3,641 ) 35,772 Total available for sale securities $ 132,733 $ (945 ) $ 131,788 $ 150,000 $ (14,299 ) $ 135,701 $ 39,413 $ (3,641 ) $ 35,772 At March 31, 2017, there were two holdings in loss positions that 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, one of the investments at March 31, 2017 was a closed-end fund with diversified holdings across multiple companies and across multiple industries. This holding was impaired for three months at March 31, 2017. The second holding was in GAMCO common stock that was recognized as having an “other than temporary impairment” during the quarter, but which has subsequently had further unrealized losses that were not deemed to be other-than-temporarily impaired at March 31, 2017. The value of these holdings at March 31, 2017 was $131.8 million. If these holdings were to continue to be impaired, we may need to record impairment in a future period on the condensed consolidated statement of income for the amount of unrealized loss, which at March 31, 2017 was $0.9 million. 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. At March 31, 2016, there were three holdings in loss positions that 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, the investments at March 31, 2016 were closed-end funds with diversified holdings across multiple companies and across multiple industries. One holding was impaired for three months and two holdings were impaired for nine months at March 31, 2016. The value of these holdings at March 31, 2016 was $35.8 million. For the three months ended March 31, 2017, there was a $19.1 million loss on an AFS security deemed to be other than temporary. This “other than temporary loss” was on the GAMCO shares. The magnitude and persistence of this loss resulted in the “other than temporary” designation. There were no “other than temporary losses” recognized on AFS securities for the three months ended March 31, 2016.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
Fair Value [Abstract]
Fair Value	C. Fair Value The following tables present information about the Company’s assets and liabilities by major categories measured at fair value on a recurring basis as of March 31, 2017, December 31, 2016 and March 31, 2016 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Note that the FASB issued new guidance effective for the Company’s first quarter of 2016 amending the current disclosure requirements for investments in certain entities that calculate net asset value per share. The guidance requires investments for which fair value is measured using the net asset value per share practical expedient to be removed from the fair value hierarchy. Instead, those investment amounts are 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 condensed consolidated statements of financial condition. Assets and Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2017 (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 March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2017 Cash equivalents $ 307,640 $ - $ - $ - $ - $ 307,640 Investments in partnerships - - - 126,187 3,871 130,058 Investments in securities (including GBL stock): AFS - Common stocks 129,990 - - - - 129,990 AFS - Mutual funds 511 - - - - 511 Trading - Gov't obligations 99,820 - - - - 99,820 Trading - Common stocks 85,308 - 494 - - 85,802 Trading - Mutual funds 3,333 - - - - 3,333 Trading - Other 3,102 102 450 - - 3,654 Total investments in securities 322,064 102 944 - - 323,110 Investments in affiliated registered investment companies: AFS - Closed-end funds 85,123 - - - - 85,123 AFS - Mutual funds 5,911 - - - - 5,911 Trading - Mutual funds 45,250 - - - - 45,250 Total investments in affiliated registered investment companies 136,284 - - - - 136,284 Total investments 458,348 102 944 126,187 3,871 589,452 Total assets at fair value $ 765,988 $ 102 $ 944 $ 126,187 $ 3,871 $ 897,092 Liabilities Trading - Common stocks $ 7,467 $ - $ - $ - $ - $ 7,467 Trading - Other - 52 - - - 52 Securities sold, not yet purchased $ 7,467 $ 52 $ - $ - $ - $ 7,519 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 March 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 March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2016 Cash equivalents $ 203,231 $ - $ - $ - $ - $ 203,231 Investments in partnerships - - - 109,552 3,595 113,147 Investments in securities (including GBL stock): AFS - Common stocks 162,807 - - - - 162,807 AFS - Mutual funds 1,151 - - - - 1,151 Trading - Gov't obligations 99,964 - - - - 99,964 Trading - Common stocks 79,065 - 506 - - 79,571 Trading - Mutual funds 3,215 - - - - 3,215 Trading - Other 428 185 305 - - 918 Total investments in securities 346,630 185 811 - - 347,626 Investments in affiliated registered investment companies: AFS - Closed-end funds 69,052 - - - - 69,052 AFS - Mutual funds 3,066 - - - - 3,066 Trading - Mutual funds 43,798 - - - - 43,798 Total investments in affiliated registered investment companies 115,916 - - - - 115,916 Total investments 462,546 185 811 109,552 3,595 576,689 Total assets at fair value $ 665,777 $ 185 $ 811 $ 109,552 $ 3,595 $ 779,920 Liabilities Trading - Common stocks $ 7,947 $ - $ - $ - $ - $ 7,947 Trading - Other - 67 - - - 67 Securities sold, not yet purchased $ 7,947 $ 67 $ - $ - $ - $ 8,014 (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. (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 tables present 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 and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2017 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December 31, Unrealized Gains or Included in and Transfers March 2016 (Losses) in Income Other Unrealized In and/or 31, 2017 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 $ 461 $ 33 $ - $ - $ 33 $ - $ - $ - $ 494 Trading - Other 283 - - - - 167 - - 450 Total $ 744 $ 33 $ - $ - $ 33 167 $ - $ - $ 944 There were no transfers between any Levels during the three months ended March 31, 2017. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2016 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December 31, Unrealized Gains or Included in and Transfers March 2015 (Losses) in Income Other Unrealized In and/or 31, 2016 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 $ (2 ) $ - $ - $ (2 ) $ - $ - $ - $ 506 Trading - Other 305 - - - - - - - 305 Total $ 813 $ (2 ) $ - $ - $ (2 ) $ - $ - $ - $ 811 There were no transfers between any Levels during the three months ended March 31, 2016.

Investment in Partnerships, Off

Investment in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs")	3 Months Ended
	Mar. 31, 2017
Investment in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs") [Abstract]
Investments in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs")	D. Investments in Partnerships, Offshore Funds and Variable Interest Entities (“VIEs”) The Company is general partner or co-general partner of various affiliated entities in which the Company has investments totaling $112.4 million, $112.3 million and $96.8 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively, and whose underlying assets consist primarily of marketable securities (the “affiliated entities”). We also have investments in unaffiliated entities of $17.6 million, $17.1 million and $16.3 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively (the “unaffiliated entities”). On a quarterly basis, we evaluate each entity for the appropriate accounting treatment and disclosure. In February 2015, the FASB issued an accounting update amending the consolidation requirements under GAAP. This guidance was effective for the Company beginning January 1, 2016. Based on the new consolidation guidance, we have determined that two of the affiliated entities, and none of the unaffiliated entities, are required to be consolidated in our condensed consolidated financial statements in the quarter ended March 31, 2017. For those entities where consolidation is not deemed to be appropriate, we report them in our condensed consolidated statements of financial condition under the caption “Investments in partnerships”. This 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 C. The Company reflects the equity in earnings of these equity method investees and the change in fair value of the consolidated feeder funds (“CFFs”) under the caption Net gain/(loss) from investments on the condensed consolidated statements of income. The following table highlights the number of entities, including voting interest entities (“VOEs”), that we consolidate as well as under which accounting guidance they are consolidated, including CFFs, which retain their specialized investment company accounting in consolidation, partnerships and offshore funds: Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs 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 March 31, 2016 - 1 1 - - - 1 1 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2016 - 1 1 - - - 1 1 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at March 31, 2017 - 1 1 - - - 1 1 At and for the three months ended March 31, 2017 and March 31, 2016, one CFF VOE is consolidated, as the Company owns a majority of the interests in the CFF. At and for the three months ended March 31, 2017 and March 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. The following table breaks down the investments in partnerships line by accounting method, either fair value or equity method, and investment type (in thousands): March 31, 2017 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 8,195 $ - $ - $ - $ - $ 8,195 Equity Method - 31,982 72,263 6,873 10,745 121,863 Total $ 8,195 $ 31,982 $ 72,263 $ 6,873 $ 10,745 $ 130,058 December 31, 2016 Investment Type Affiliated Unaffiliated Consolidated Accounting method 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 March 31, 2016 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 7,581 $ - $ - $ - $ - $ 7,581 Equity Method - 36,168 53,099 8,007 8,292 105,566 Total $ 7,581 $ 36,168 $ 53,099 $ 8,007 $ 8,292 $ 113,147 The following table includes the net impact by line item on the condensed consolidated statements of financial condition for each category of entity consolidated (in thousands): March 31, 2017 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 307,505 $ - $ 146 $ - $ 307,651 Investments in securities (including GBL stock) 316,424 - 6,686 - 323,110 Investments in affiliated investment companies 136,284 - - - 136,284 Investments in partnerships 135,129 3,764 (8,835 ) - 130,058 Receivable from brokers 9,666 - 2,355 - 12,021 Investment advisory fees receivable 1,361 (5 ) (7 ) - 1,349 Other assets 7,160 - - - 7,160 Total assets $ 913,529 $ 3,759 $ 345 $ - $ 917,633 Liabilities and equity Securities sold, not yet purchased $ 7,519 $ - $ - $ - $ 7,519 Accrued expenses and other liabilities 24,179 19 35 - 24,233 Redeemable noncontrolling interests - 3,740 310 - 4,050 Total equity 881,831 - - - 881,831 Total liabilities and equity $ 913,529 $ 3,759 $ 345 $ - $ 917,633 December 31, 2016 Prior to Offshore Consolidation CFFs Partnerships 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 March 31, 2016 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 203,204 $ - $ 35 $ - $ 203,239 Investments in securities 341,730 - 5,896 - 347,626 Investments in affiliated investment companies 115,916 - - - 115,916 Investments in partnerships 117,589 3,487 (7,929 ) - 113,147 Receivable from brokers 20,958 - 2,320 - 23,278 Investment advisory fees receivable 1,471 (4 ) (4 ) - 1,463 Other assets 8,031 - - - 8,031 Total assets $ 808,899 $ 3,483 $ 318 $ - $ 812,700 Liabilities and equity Securities sold, not yet purchased $ 8,014 $ - $ - $ - $ 8,014 Accrued expenses and other liabilities 36,618 16 33 - 36,667 Redeemable noncontrolling interests - 3,467 285 - 3,752 Total equity 764,267 - - - 764,267 Total liabilities and equity $ 808,899 $ 3,483 $ 318 $ - $ 812,700 The following table includes the net impact by line item on the condensed consolidated statements of income for each category of entity consolidated (in thousands): Three Months Ended March 31, 2017 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 4,993 $ (5 ) $ (1 ) $ - $ 4,987 Total expenses 9,277 32 10 - 9,319 Operating loss (4,284 ) (37 ) (11 ) - (4,332 ) Total other income/(expense), net (17,218 ) 75 34 - (17,109 ) Income/(loss) before income taxes (21,502 ) 38 23 - (21,441 ) Income tax provision (8,424 ) - - - (8,424 ) Net income/(loss) (13,078 ) 38 23 - (13,017 ) Net income attributable to noncontrolling interests - 38 23 - 61 Net loss attributable to AC Group $ (13,078 ) $ - $ - $ - $ (13,078 ) Three Months Ended March 31, 2016 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 4,522 $ (4 ) $ (1 ) $ - $ 4,517 Total expenses 8,985 33 14 - 9,032 Operating loss (4,463 ) (37 ) (15 ) - (4,515 ) Total other income/(expense), net 6,638 93 (8 ) - 6,723 Income/(loss) before income taxes 2,175 56 (23 ) - 2,208 Income tax provision 661 - - - 661 Net income/(loss) 1,514 56 (23 ) - 1,547 Net income/(loss) attributable to noncontrolling interests (79 ) 56 (23 ) - (46 ) Net income attributable to AC Group $ 1,593 $ - $ - $ - $ 1,593 Variable Interest Entities We sponsor a number of investment vehicles where we are the general partner or investment manager. At March 31, 2017, December 31, 2016 and March 31, 2016 we consolidated the only VIE. 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 assets of the VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to the VIE that is consolidated and is included on the condensed consolidated statements of financial condition as well as AC Group’s net interest in the VIE. There is one VIE consolidated at March 31, 2017, December 31, 2016 and March 31, 2016: March 31, December 31, March 31, 2017 2016 2016 (In thousands) Cash and cash equivalents $ 146 $ 308 $ 35 Investments in securities 6,686 6,338 5,896 Receivable from broker 2,355 2,046 2,320 Other assets (7 ) (8 ) (4 ) Accrued expenses and other liabilities (35 ) (37 ) (33 ) Redeemable noncontrolling interests (310 ) (287 ) (285 ) AC Group's net interests in consolidated VIE $ 8,835 $ 8,360 $ 7,929

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Taxes [Abstract]
Income Taxes	E. Income Taxes The effective tax rate ("ETR") for the three months ended March 31, 2017 and March 31, 2016 was 39.3% and 29.9%, respectively. The differences in ETR primarily reflect the benefit of the dividends received deduction and appreciated donated securities in the first quarter of 2017 compared to the benefit of dividends received deduction in the first quarter of 2016 relative to the respective period’s net income/(loss) versus the standard corporate tax rate of 34%. ASU 2016-09, which was issued in March 2016 and became effective for interim and annual reporting periods beginning after December 15, 2016, simplifies several aspects of accounting for employee share-based payment transactions. Upon adoption of ASU 2016-09 on January 1, 2017, our accounting for excess tax benefits has changed and we have adopted prospectively, resulting in recognition of excess tax benefits against income tax expenses rather than additional paid-in capital.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Earnings Per Share	F. Earnings Per Share Basic earnings per share is computed by dividing net income/(loss) per share attributable to our shareholders by the weighted average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income/(loss) per share attributable to our shareholders by the weighted average number of shares outstanding during the period, adjusted for the dilutive effect of restricted stock awards. The computations of basic and diluted net income/(loss) per share are as follows: Three Months Ended March 31, (in thousands, except per share amounts) 2017 2016 Basic: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (13,078 ) $ 1,593 Weighted average shares outstanding 23,829 24,863 Basic net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (0.55 ) $ 0.06 Diluted: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (13,078 ) $ 1,593 Weighted average share outstanding 23,829 24,863 Dilutive restricted stock awards - 314 Total 23,829 25,177 Diluted net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (0.55 ) $ 0.06 Diluted weighted average shares outstanding for the first quarter 2017 exclude potential restricted stock awards as we have a net loss for that period and their inclusion would be anti-dilutive.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders Equity [Abstract]
Stockholders Equity	G. Stockholders’ Equity Shares outstanding were 24.2 million, 24.3 million and 25.4 million on March 31, 2017, December 31, 2016, and March 31, 2016, respectively. Dividends During three months ended March 31, 2017 and 2016, the Company declared dividends of $0.00 and $0.10 per share to class A and class B shareholders, respectively. Voting Rights The holders of Class A Common stock (“Class A Stock”) and Class B Common stock (“Class B Stock”) have identical rights except that (i) holders of Class A Stock are entitled to one vote per share, while holders of Class B Stock are entitled to ten votes per share on all matters to be voted on by shareholders in general, and (ii) holders of Class A Stock are not eligible to vote on matters relating exclusively to Class B Stock and vice versa. Stock Award and Incentive Plan The Company maintains one Plan approved by the shareholders, which is designed to provide incentives which will attract and retain individuals 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 as approved by the Company's stockholders at the annual meeting of stockholders held on May 3, 2016. 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 on a one for one basis, the Company issued 554,100 AC RSA shares to employees who held 554,100 GAMCO RSA shares. As of March 31, 2017, December 31, 2016 and March 31, 2016, there were 420,240 RSA shares, 424,340 RSA shares and 553,100 RSA shares outstanding, respectively, that were previously issued at an average weighted GAMCO grant price of $65.59, $65.74 and $64.02, respectively. These RSA grants occurred prior to the spin-off of Associated Capital. On November 30, 2015, pursuant to the spin-off, all RSA grant holders received shares of Associated Capital’s Class A common stock as a result of their ownership of their GAMCO unvested RSAs (one share of Associated Capital for each share of GBL). All grants of the RSA shares were recommended by the Company's Chairman, who did not receive any RSAs, and approved by the Compensation Committee of the Board of Directors (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. For the three months ended March 31, 2017 and March 31, 2016, we recognized stock-based compensation expense of $0.4 million and $0.6 million, respectively. Actual and projected stock-based compensation expense for RSA shares for the years ended December 31, 2016 through December 31, 2024 (based on awards currently issued or granted) is as follows (in thousands): 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 $ 644 $ 444 $ 297 $ 239 $ 127 $ 80 $ 52 $ 27 $ 5 Q2 644 446 287 239 113 80 52 27 5 Q3 727 399 259 216 93 63 37 14 3 Q4 449 351 239 200 80 52 27 5 - Full Year $ 2,464 $ 1,640 $ 1,082 $ 894 $ 413 $ 275 $ 168 $ 73 $ 13 The total compensation cost related to non-vested RSAs not yet recognized is approximately $4.1 million as of March 31, 2017.

Goodwill and Identifiable Intan

Goodwill and Identifiable Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Identifiable Intangible Assets [Abstract]
Goodwill and Identifiable Intangible Assets	H. Goodwill and Identifiable Intangible Assets At March 31, 2017, $3.4 million of goodwill related to Gabelli & Company Investment Advisers, Inc. is separately disclosed on the condensed consolidated statements of financial condition. The Company assesses the recoverability of goodwill at least annually, or more often should events warrant, using a qualitative assessment of whether it is more likely than not that an impairment has occurred to determine if a quantitative analysis is required. There were no indicators of impairment for the three months ended March 31, 2017 or March 31, 2016, and as such there was no impairment analysis performed or charge recorded.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Guarantees, Contingencies, and Commitments [Abstract]
Guarantees, Contingencies, and Commitments	I. Commitments and Contingencies From time to time, the Company may be named in legal actions and proceedings. These actions may seek substantial or indeterminate compensatory as well as punitive damages or injunctive relief. The Company is also subject to governmental or regulatory examinations or investigations. The examinations or investigations could result in adverse judgments, settlements, fines, injunctions, restitutions or other relief. For any such matters, the condensed consolidated financial statements include the necessary provisions for losses that the Company believes are probable and estimable. Furthermore, the Company evaluates whether there exist losses which may be reasonably possible and will, if material, make the necessary disclosures. However, management believes such amounts, both those that are probable and those that are reasonably possible, are not material to the Company’s financial condition, operations or cash flows at March 31, 2017. The Company indemnifies the clearing brokers of G.research, LLC, our broker-dealer subsidiary, for losses they may sustain from the customer accounts that trade on margin introduced by it. At March 31, 2017, the total amount of customer balances subject to indemnification (i.e. unsecured margin debits) was immaterial. The Company 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 obligations under the agreements. The Company has had no claims or payments pursuant to these or prior agreements and believes the likelihood of a claim being made is remote. The Company’s estimate of the value of such agreements is de minimis, and therefore an accrual has not been made on the condensed consolidated financial statements.

Shareholder-Designated Contribu

Shareholder-Designated Contribution Plan	3 Months Ended
	Mar. 31, 2017
Shareholder-Designated Contribution Plan [Abstract]
Shareholder-Designated Contribution Plan	J. 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 at a rate of twenty-five cents per share 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. On February 8, 2017, the Company announced it had again adopted a Shareholder Designated Charitable Contribution program for all registered Class A and Class B shareholders. The Company recorded a cost of $4.9 million related to this contribution which was included in shareholder-designated contribution in the condensed consolidated statements of income.

Contractual Obligations

Contractual Obligations	3 Months Ended
	Mar. 31, 2017
Contractual Obligations [Abstract]
Contractual Obligations	K. Contractual Obligations In June 2016, AC entered into a sublease agreement with GAMCO effective from April 1, 2016 through March 31, 2017. The Company renewed the sublease agreement with GAMCO in March 2017 which extended the lease through March 31, 2018. Future minimum lease commitment under this operating lease as of March 31, 2017 is as follows: (In thousands) 2017 $ 282 2018 94 Total $ 376

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	L. Subsequent Events From April 1, 2017 to May 2, 2017, the Company repurchased 26,909 shares at $33.88 per share. On May 1, 2017, GAMCO prepaid an additional $10 million of the GAMCO Note, reducing the principal outstanding to $80 million. In addition, the Board of Directors declared a $0.10 dividend per share payable on July 11, 2017 to its shareholders of record on June 27, 2017.

Basis of Presentation and Sig23

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Basis of Presentation and Significant Accounting Policies [Abstract]
The Spin-off and Related Transactions	The Spin-off and Related Transactions 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 We operate our institutional research services operations through G.research, LLC ("G.research") doing business as “Gabelli & Company”, a wholly owned subsidiary of Institutional Services Holdings, LLC which in turn is a wholly owned subsidiary of the 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. G.research is regulated by the Financial Industry Regulatory Authority ("FINRA"). G.research's revenues are derived primarily from institutional research services. 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. AC has received principal repayments totaling $160 million on the GAMCO Note, of which $10 million was received during the first quarter of 2017. $50 million of the prepayment was applied against the principal amount due on November 30, 2016, $50 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 $90 million principal amount outstanding, $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 addition, AC Group through GCIA GCIA GCIA GCIA GCIA GCIA The GCIA Note is thus now an intercompany note within the AC Group. Basis of Presentation
Basis of Presentation	The unaudited interim condensed consolidated financial statements of AC Group included herein have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP in the United States for complete financial statements. In the opinion of management, the unaudited interim condensed consolidated financial statements reflect all adjustments, which are of a normal recurring nature, necessary for a fair presentation of financial position, results of operations and cash flows of the Company for the interim periods presented and are not necessarily indicative of a full year’s results. The interim condensed consolidated financial statements include the accounts of AC Group and its subsidiaries. Intercompany accounts and transactions are eliminated. These interim condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2016.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported on the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Reclassification	Reclassification The Company has reclassified certain prior-period amounts to conform to the current-period presentation. For presentation of 2017 results, the Company reported revenue from its research services agreement with GAMCO in “Institutional Research Services Revenue” instead of “Other Revenue”. The reclassification did not impact revenue, operating expenses, operating income, net income, or equity.
Recent Accounting Developments	Recent Accounting Developments In March 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“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 condensed 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 10Q 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 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 but does not expect it will have a material impact on its condensed consolidated financial statements, although the adoption will likely have an impact around disclosures related to revenue. 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 condensed 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 condensed 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 condensed consolidated financial statements.

Investment in Securities (Table

Investment in Securities (Tables)	3 Months Ended
	Mar. 31, 2017
Investment in Securities [Abstract]
Investments in Securities	Investments in securities (including GAMCO stock) at March 31, 2017, December 31, 2016 and March 31, 2016 consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Government obligations $ 99,687 $ 99,820 $ 119,755 $ 119,823 $ 99,841 $ 99,964 Common stocks 71,511 85,802 69,503 82,158 66,906 79,571 Mutual funds 2,405 3,333 2,402 3,143 2,579 3,215 Other investments 3,411 3,654 1,275 1,472 648 918 Total trading securities 177,014 192,609 192,935 206,596 169,974 183,668 Available for sale securities: Common stocks 130,869 129,990 150,000 135,701 150,000 162,807 Mutual funds 206 511 206 500 627 1,151 Total available for sale securities 131,075 130,501 150,206 136,201 150,627 163,958 Total investments in securities $ 308,089 $ 323,110 $ 343,141 $ 342,797 $ 320,601 $ 347,626
Securities Sold, Not Yet Purchased	Securities sold, not yet purchased at March 31, 2017, December 31, 2016 and March 31, 2016 consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Proceeds Fair Value Proceeds Fair Value Proceeds Fair Value Trading securities: (In thousands) Common stocks $ 7,279 $ 7,467 $ 9,583 $ 9,947 $ 7,951 $ 7,947 Other investments 1 52 27 37 2 67 Total securities sold, not yet purchased $ 7,280 $ 7,519 $ 9,610 $ 9,984 $ 7,953 $ 8,014
Investments in Affiliated Registered Investment Companies	Investments in affiliated registered investment companies at March 31, 2017, December 31, 2016 and March 31, 2016 consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Cost Fair Value Cost Fair Value Cost Fair Value (In thousands) Trading securities: Mutual funds $ 40,096 $ 45,250 $ 40,096 $ 45,351 $ 40,097 $ 43,798 Total trading securities 40,096 45,250 40,096 45,351 40,097 43,798 Available for sale securities: Closed-end funds 64,589 85,123 62,890 80,650 60,865 69,052 Mutual funds 4,387 5,911 4,396 5,644 1,841 3,066 Total available for sale securities 68,976 91,034 67,286 86,294 62,706 72,118 Total investments in affiliated registered investment companies $ 109,072 $ 136,284 $ 107,382 $ 131,645 $ 102,803 $ 115,916
Reclassifications Out of Accumulated Other Comprehensive Income (Loss)	The following table identifies all reclassifications out of accumulated other comprehensive income ("AOCI") into income for the three months ended March 31, 2017 and 2016 (in thousands): Amount Affected Line Items Reason for Reclassified in the Statements Reclassification from AOCI Of Income from AOCI Three months ended March 31, 2017 2016 $ (19,131 ) $ - Net gain/(loss) from investments Other than temporary impairment of AFS securities (19,131 ) - Income/(loss) before income taxes 6,887 - Income tax provision $ (12,244 ) $ - 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 held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition March 31, December 31, March 31, Financial Condition March 31, December 31, March 31, Location 2017 2016 2016 Location 2017 2016 2016 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange Receivable from contracts brokers $ - $ - $ - Payable to brokers $ - $ - $ 2,875 Sub total $ - $ - $ - $ - $ - $ 2,875 Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in Securities sold, securities $ 102 $ 127 $ 185 not yet purchased $ 52 $ 37 $ 67 Foreign exchange Receivable from contracts brokers - - - Payable to brokers - - 5,223 Sub total $ 102 $ 127 $ 185 $ 52 $ 37 $ 5,290 Total derivatives $ 102 $ 127 $ 185 $ 52 $ 37 $ 8,165
Schedule of Derivative Instruments, Gain (Loss)	Type of Derivative Income Statement Location Three Months ended March 31, 2017 2016 Foreign exchange contracts Net gain/(loss) from investments $ - $ 1,192 Equity contracts Net gain/(loss) from investments (11 ) 69 Total $ (11 ) $ 1,261
Master Netting Arrangements for Swaps	The Company is a party to enforceable master netting arrangements for swaps entered into as part of the investment strategy of the Company’s proprietary portfolio. 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 condensed 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) March 31, 2017 $ 102 $ - $ 102 $ (51 ) $ - $ 51 December 31, 2016 96 - 96 (9 ) - 87 March 31, 2016 $ 185 $ - $ 185 $ (66 ) $ - $ 119 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) March 31, 2017 $ 51 $ - $ 51 $ (51 ) $ - $ - December 31, 2016 9 - 9 (9 ) - - March 31, 2016 $ 66 $ - $ 66 $ (66 ) $ - $ -
Summary of Available-for-Sale Securities	The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available for sale investments as of March 31, 2017, December 31, 2016 and March 31, 2016: March 31, 2017 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 130,869 $ - $ (879 ) $ 129,990 Closed-end funds 64,589 20,600 (66 ) 85,123 Mutual funds 4,593 1,829 - 6,422 Total available for sale securities $ 200,051 $ 22,429 $ (945 ) $ 221,535 December 31, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair 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 March 31, 2016 Gross Gross Unrealized Unrealized Cost Gains Losses Fair Value (In thousands) Common stocks $ 150,000 $ 12,807 $ - $ 162,807 Closed-end funds 60,865 11,828 (3,641 ) 69,052 Mutual funds 2,468 1,749 - 4,217 Total available for sale securities $ 213,333 $ 26,384 $ (3,641 ) $ 236,076
Investments Classified as Available for Sale in Unrealized Loss Position	Investments classified as available for sale that are in an unrealized loss position for which other-than-temporary impairment has not been recognized consisted of the following: March 31, 2017 December 31, 2016 March 31, 2016 Unrealized Unrealized Unrealized Cost Losses Fair Value Cost Losses Fair Value Cost Losses Fair Value (in thousands) Common stocks $ 130,869 $ (879 ) $ 129,990 $ 150,000 $ (14,299 ) $ 135,701 $ - $ - $ - Closed-end funds 1,864 (66 ) 1,798 - - - 39,413 (3,641 ) 35,772 Total available for sale securities $ 132,733 $ (945 ) $ 131,788 $ 150,000 $ (14,299 ) $ 135,701 $ 39,413 $ (3,641 ) $ 35,772

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017, December 31, 2016 and March 31, 2016 and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Note that the FASB issued new guidance effective for the Company’s first quarter of 2016 amending the current disclosure requirements for investments in certain entities that calculate net asset value per share. The guidance requires investments for which fair value is measured using the net asset value per share practical expedient to be removed from the fair value hierarchy. Instead, those investment amounts are 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 condensed consolidated statements of financial condition. Assets and Liabilities Measured at Fair Value on a Recurring Basis as of March 31, 2017 (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 March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2017 Cash equivalents $ 307,640 $ - $ - $ - $ - $ 307,640 Investments in partnerships - - - 126,187 3,871 130,058 Investments in securities (including GBL stock): AFS - Common stocks 129,990 - - - - 129,990 AFS - Mutual funds 511 - - - - 511 Trading - Gov't obligations 99,820 - - - - 99,820 Trading - Common stocks 85,308 - 494 - - 85,802 Trading - Mutual funds 3,333 - - - - 3,333 Trading - Other 3,102 102 450 - - 3,654 Total investments in securities 322,064 102 944 - - 323,110 Investments in affiliated registered investment companies: AFS - Closed-end funds 85,123 - - - - 85,123 AFS - Mutual funds 5,911 - - - - 5,911 Trading - Mutual funds 45,250 - - - - 45,250 Total investments in affiliated registered investment companies 136,284 - - - - 136,284 Total investments 458,348 102 944 126,187 3,871 589,452 Total assets at fair value $ 765,988 $ 102 $ 944 $ 126,187 $ 3,871 $ 897,092 Liabilities Trading - Common stocks $ 7,467 $ - $ - $ - $ - $ 7,467 Trading - Other - 52 - - - 52 Securities sold, not yet purchased $ 7,467 $ 52 $ - $ - $ - $ 7,519 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 March 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 March 31, Assets Assets (Level 1) Inputs (Level 2) Inputs (Level 3) NAV (a) Fair Value (b) 2016 Cash equivalents $ 203,231 $ - $ - $ - $ - $ 203,231 Investments in partnerships - - - 109,552 3,595 113,147 Investments in securities (including GBL stock): AFS - Common stocks 162,807 - - - - 162,807 AFS - Mutual funds 1,151 - - - - 1,151 Trading - Gov't obligations 99,964 - - - - 99,964 Trading - Common stocks 79,065 - 506 - - 79,571 Trading - Mutual funds 3,215 - - - - 3,215 Trading - Other 428 185 305 - - 918 Total investments in securities 346,630 185 811 - - 347,626 Investments in affiliated registered investment companies: AFS - Closed-end funds 69,052 - - - - 69,052 AFS - Mutual funds 3,066 - - - - 3,066 Trading - Mutual funds 43,798 - - - - 43,798 Total investments in affiliated registered investment companies 115,916 - - - - 115,916 Total investments 462,546 185 811 109,552 3,595 576,689 Total assets at fair value $ 665,777 $ 185 $ 811 $ 109,552 $ 3,595 $ 779,920 Liabilities Trading - Common stocks $ 7,947 $ - $ - $ - $ - $ 7,947 Trading - Other - 67 - - - 67 Securities sold, not yet purchased $ 7,947 $ 67 $ - $ - $ - $ 8,014 (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. (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 tables present 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 and Liabilities	Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2017 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December 31, Unrealized Gains or Included in and Transfers March 2016 (Losses) in Income Other Unrealized In and/or 31, 2017 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 $ 461 $ 33 $ - $ - $ 33 $ - $ - $ - $ 494 Trading - Other 283 - - - - 167 - - 450 Total $ 744 $ 33 $ - $ - $ 33 167 $ - $ - $ 944 There were no transfers between any Levels during the three months ended March 31, 2017. Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis for the Three Months Ended March 31, 2016 (in thousands) Total Unrealized Gains or Total Total Realized and (Losses) Realized December 31, Unrealized Gains or Included in and Transfers March 2015 (Losses) in Income Other Unrealized In and/or 31, 2016 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 $ (2 ) $ - $ - $ (2 ) $ - $ - $ - $ 506 Trading - Other 305 - - - - - - - 305 Total $ 813 $ (2 ) $ - $ - $ (2 ) $ - $ - $ - $ 811 There were no transfers between any Levels during the three months ended March 31, 2016.

Investment in Partnerships, O26

Investment in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs") (Tables)	3 Months Ended
	Mar. 31, 2017
Investment in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs") [Abstract]
Schedule of Number of Entities Consolidated	The following table highlights the number of entities, including voting interest entities (“VOEs”), that we consolidate as well as under which accounting guidance they are consolidated, including CFFs, which retain their specialized investment company accounting in consolidation, partnerships and offshore funds: Entities consolidated CFFs Partnerships Offshore Funds Total VIEs VOEs VIEs VOEs VIEs VOEs VIEs VOEs 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 March 31, 2016 - 1 1 - - - 1 1 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at December 31, 2016 - 1 1 - - - 1 1 Additional consolidated entities - - - - - - - - Deconsolidated entities - - - - - - - - Entities consolidated at March 31, 2017 - 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): March 31, 2017 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 8,195 $ - $ - $ - $ - $ 8,195 Equity Method - 31,982 72,263 6,873 10,745 121,863 Total $ 8,195 $ 31,982 $ 72,263 $ 6,873 $ 10,745 $ 130,058 December 31, 2016 Investment Type Affiliated Unaffiliated Consolidated Accounting method 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 March 31, 2016 Investment Type Affiliated Unaffiliated Consolidated Accounting method Feeder Funds Partnerships Offshore Funds Partnerships Offshore Funds Total Fair Value $ 7,581 $ - $ - $ - $ - $ 7,581 Equity Method - 36,168 53,099 8,007 8,292 105,566 Total $ 7,581 $ 36,168 $ 53,099 $ 8,007 $ 8,292 $ 113,147
Condensed Consolidated Statements of Financial Condition by Entity Consolidated	The following table includes the net impact by line item on the condensed consolidated statements of financial condition for each category of entity consolidated (in thousands): March 31, 2017 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 307,505 $ - $ 146 $ - $ 307,651 Investments in securities (including GBL stock) 316,424 - 6,686 - 323,110 Investments in affiliated investment companies 136,284 - - - 136,284 Investments in partnerships 135,129 3,764 (8,835 ) - 130,058 Receivable from brokers 9,666 - 2,355 - 12,021 Investment advisory fees receivable 1,361 (5 ) (7 ) - 1,349 Other assets 7,160 - - - 7,160 Total assets $ 913,529 $ 3,759 $ 345 $ - $ 917,633 Liabilities and equity Securities sold, not yet purchased $ 7,519 $ - $ - $ - $ 7,519 Accrued expenses and other liabilities 24,179 19 35 - 24,233 Redeemable noncontrolling interests - 3,740 310 - 4,050 Total equity 881,831 - - - 881,831 Total liabilities and equity $ 913,529 $ 3,759 $ 345 $ - $ 917,633 December 31, 2016 Prior to Offshore Consolidation CFFs Partnerships 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 March 31, 2016 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Assets Cash and cash equivalents $ 203,204 $ - $ 35 $ - $ 203,239 Investments in securities 341,730 - 5,896 - 347,626 Investments in affiliated investment companies 115,916 - - - 115,916 Investments in partnerships 117,589 3,487 (7,929 ) - 113,147 Receivable from brokers 20,958 - 2,320 - 23,278 Investment advisory fees receivable 1,471 (4 ) (4 ) - 1,463 Other assets 8,031 - - - 8,031 Total assets $ 808,899 $ 3,483 $ 318 $ - $ 812,700 Liabilities and equity Securities sold, not yet purchased $ 8,014 $ - $ - $ - $ 8,014 Accrued expenses and other liabilities 36,618 16 33 - 36,667 Redeemable noncontrolling interests - 3,467 285 - 3,752 Total equity 764,267 - - - 764,267 Total liabilities and equity $ 808,899 $ 3,483 $ 318 $ - $ 812,700
Condensed Consolidated Statements of Income by Entity Consolidated	The following table includes the net impact by line item on the condensed consolidated statements of income for each category of entity consolidated (in thousands): Three Months Ended March 31, 2017 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 4,993 $ (5 ) $ (1 ) $ - $ 4,987 Total expenses 9,277 32 10 - 9,319 Operating loss (4,284 ) (37 ) (11 ) - (4,332 ) Total other income/(expense), net (17,218 ) 75 34 - (17,109 ) Income/(loss) before income taxes (21,502 ) 38 23 - (21,441 ) Income tax provision (8,424 ) - - - (8,424 ) Net income/(loss) (13,078 ) 38 23 - (13,017 ) Net income attributable to noncontrolling interests - 38 23 - 61 Net loss attributable to AC Group $ (13,078 ) $ - $ - $ - $ (13,078 ) Three Months Ended March 31, 2016 Prior to Offshore Consolidation CFFs Partnerships Funds As Reported Total revenues $ 4,522 $ (4 ) $ (1 ) $ - $ 4,517 Total expenses 8,985 33 14 - 9,032 Operating loss (4,463 ) (37 ) (15 ) - (4,515 ) Total other income/(expense), net 6,638 93 (8 ) - 6,723 Income/(loss) before income taxes 2,175 56 (23 ) - 2,208 Income tax provision 661 - - - 661 Net income/(loss) 1,514 56 (23 ) - 1,547 Net income/(loss) attributable to noncontrolling interests (79 ) 56 (23 ) - (46 ) Net income attributable to AC Group $ 1,593 $ - $ - $ - $ 1,593
Balances Related to VIEs And AC's Net Interests in Consolidated VIE	The assets of the VIEs may only be used to satisfy obligations of the VIEs. The following table presents the balances related to the VIE that is consolidated and is included on the condensed consolidated statements of financial condition as well as AC Group’s net interest in the VIE. There is one VIE consolidated at March 31, 2017, December 31, 2016 and March 31, 2016: March 31, December 31, March 31, 2017 2016 2016 (In thousands) Cash and cash equivalents $ 146 $ 308 $ 35 Investments in securities 6,686 6,338 5,896 Receivable from broker 2,355 2,046 2,320 Other assets (7 ) (8 ) (4 ) Accrued expenses and other liabilities (35 ) (37 ) (33 ) Redeemable noncontrolling interests (310 ) (287 ) (285 ) AC Group's net interests in consolidated VIE $ 8,835 $ 8,360 $ 7,929

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Computations of Basic and Diluted Net Income/(Loss) Per Share	The computations of basic and diluted net income/(loss) per share are as follows: Three Months Ended March 31, (in thousands, except per share amounts) 2017 2016 Basic: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (13,078 ) $ 1,593 Weighted average shares outstanding 23,829 24,863 Basic net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (0.55 ) $ 0.06 Diluted: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (13,078 ) $ 1,593 Weighted average share outstanding 23,829 24,863 Dilutive restricted stock awards - 314 Total 23,829 25,177 Diluted net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (0.55 ) $ 0.06

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Stockholders Equity [Abstract]
Actual and Projected Stock-Based Compensation Expense for RSA Shares	For the three months ended March 31, 2017 and March 31, 2016, we recognized stock-based compensation expense of $0.4 million and $0.6 million, respectively. Actual and projected stock-based compensation expense for RSA shares for the years ended December 31, 2016 through December 31, 2024 (based on awards currently issued or granted) is as follows (in thousands): 2016 2017 2018 2019 2020 2021 2022 2023 2024 Q1 $ 644 $ 444 $ 297 $ 239 $ 127 $ 80 $ 52 $ 27 $ 5 Q2 644 446 287 239 113 80 52 27 5 Q3 727 399 259 216 93 63 37 14 3 Q4 449 351 239 200 80 52 27 5 - Full Year $ 2,464 $ 1,640 $ 1,082 $ 894 $ 413 $ 275 $ 168 $ 73 $ 13

Contractual Obligations (Tables

Contractual Obligations (Tables)	3 Months Ended
	Mar. 31, 2017
Contractual Obligations [Abstract]
Future Minimum Lease Commitments under Operating Lease	In June 2016, AC entered into a sublease agreement with GAMCO effective from April 1, 2016 through March 31, 2017. The Company renewed the sublease agreement with GAMCO in March 2017 which extended the lease through March 31, 2018. Future minimum lease commitment under this operating lease as of March 31, 2017 is as follows: (In thousands) 2017 $ 282 2018 94 Total $ 376

Basis of Presentation and Sig30

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Millions	Nov. 30, 2015	Mar. 31, 2017	Mar. 31, 2017
Class of Stock [Line Items]
Number of AC shares issued for each GAMCO shares in connection with spin-off (in shares)	1
GAMCO Note [Member]
Class of Stock [Line Items]
Notes receivable, face amount		$ 250	$ 250
Notes receivable, interest rate		4.00%	4.00%
Notes receivable, maturity date		Nov. 30, 2020
Principal repayments received		$ 10	$ 160
Notes receivable outstanding		90	90
GAMCO Note [Member] | Principal Amount Due on November 30, 2016 [Member]
Class of Stock [Line Items]
Principal repayments received		50
GAMCO Note [Member] | Principal Amount Due on November 30, 2017 [Member]
Class of Stock [Line Items]
Principal repayments received		50
GAMCO Note [Member] | Principal Amount Due on November 30, 2018 [Member]
Class of Stock [Line Items]
Principal repayments received		30
Notes receivable outstanding		20	20
GAMCO Note [Member] | Principal Amount Due on November 30, 2019 [Member]
Class of Stock [Line Items]
Principal repayments received		30
Notes receivable outstanding		20	20
GAMCO Note [Member] | Principal Amount Due on November 30, 2020 [Member]
Class of Stock [Line Items]
Notes receivable outstanding		50	50
GCIA Note [Member]
Class of Stock [Line Items]
Notes receivable, face amount		$ 150	$ 150
GCIA [Member]
Class of Stock [Line Items]
Percentage interest owned in subsidiary	93.90%
GAMCO [Member]
Class of Stock [Line Items]
Number of GAMCO shares exchanged for each AC shares in connection with spin-off (in shares)	1
GAMCO [Member] | Class A [Member]
Class of Stock [Line Items]
Number of shares of common stock purchased (in shares)		4,393,055

Investment in Securities, Inves

Investment in Securities, Investment in Securities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Available for sale securities [Abstract]
Cost	$ 200,051	$ 217,492	$ 213,333
Fair value	221,535	222,495	236,076
Total investments in securities [Abstract]
Cost	308,089	343,141	320,601
Fair value	323,110	342,797	347,626
Common Stock [Member]
Available for sale securities [Abstract]
Cost	130,869	150,000	150,000
Fair value	129,990	135,701	162,807
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	4,593	4,602	2,468
Fair value	6,422	6,144	4,217
Investment in Securities [Member] | Trading Securities [Member]
Trading securities [Abstract]
Cost	177,014	192,935	169,974
Fair value	192,609	206,596	183,668
Investment in Securities [Member] | Trading Securities [Member] | Government Obligations [Member]
Trading securities [Abstract]
Cost	99,687	119,755	99,841
Fair value	99,820	119,823	99,964
Investment in Securities [Member] | Trading Securities [Member] | Common Stock [Member]
Trading securities [Abstract]
Cost	71,511	69,503	66,906
Fair value	85,802	82,158	79,571
Investment in Securities [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities [Abstract]
Cost	2,405	2,402	2,579
Fair value	3,333	3,143	3,215
Investment in Securities [Member] | Trading Securities [Member] | Other Investments [Member]
Trading securities [Abstract]
Cost	3,411	1,275	648
Fair value	3,654	1,472	918
Investment in Securities [Member] | Available for Sale Securities [Member]
Available for sale securities [Abstract]
Cost	131,075	150,206	150,627
Fair value	130,501	136,201	163,958
Investment in Securities [Member] | Available for Sale Securities [Member] | Common Stock [Member]
Available for sale securities [Abstract]
Cost	130,869	150,000	150,000
Fair value	129,990	135,701	162,807
Investment in Securities [Member] | Available for Sale Securities [Member] | Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	206	206	627
Fair value	$ 511	$ 500	$ 1,151

Investment in Securities, Secur

Investment in Securities, Securities Sold, Not Yet Purchased (Details) - Investment in Securities [Member] - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Trading securities [Abstract]
Proceeds	$ 7,280	$ 9,610	$ 7,953
Fair value	7,519	9,984	8,014
Trading Securities [Member] | Common Stock [Member]
Trading securities [Abstract]
Proceeds	7,279	9,583	7,951
Fair value	7,467	9,947	7,947
Trading Securities [Member] | Other Investments [Member]
Trading securities [Abstract]
Proceeds	1	27	2
Fair value	$ 52	$ 37	$ 67

Investment in Securities, Inv33

Investment in Securities, Investment in Affiliated Registered Investment Companies (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Available for sale securities [Abstract]
Cost	$ 200,051	$ 217,492	$ 213,333
Fair value	221,535	222,495	236,076
Total investments in affiliated registered investment companies [Abstract]
Cost	109,072	107,382	102,803
Fair value	136,284	131,645	115,916
Closed-end Funds [Member]
Available for sale securities [Abstract]
Cost	64,589	62,890	60,865
Fair value	85,123	80,650	69,052
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	4,593	4,602	2,468
Fair value	6,422	6,144	4,217
Investment in Affiliated Registered Investment Companies [Member] | Trading Securities [Member]
Trading securities [Abstract]
Cost	40,096	40,096	40,097
Fair value	45,250	45,351	43,798
Investment in Affiliated Registered Investment Companies [Member] | Trading Securities [Member] | Mutual Funds [Member]
Trading securities [Abstract]
Cost	40,096	40,096	40,097
Fair value	45,250	45,351	43,798
Investment in Affiliated Registered Investment Companies [Member] | Available for Sale Securities [Member]
Available for sale securities [Abstract]
Cost	68,976	67,286	62,706
Fair value	91,034	86,294	72,118
Investment in Affiliated Registered Investment Companies [Member] | Available for Sale Securities [Member] | Closed-end Funds [Member]
Available for sale securities [Abstract]
Cost	64,589	62,890	60,865
Fair value	85,123	80,650	69,052
Investment in Affiliated Registered Investment Companies [Member] | Available for Sale Securities [Member] | Mutual Funds [Member]
Available for sale securities [Abstract]
Cost	4,387	4,396	1,841
Fair value	$ 5,911	$ 5,644	$ 3,066

Investment in Securities, Recla

Investment in Securities, Reclassifications Out of Accumulated Other Comprehensive Income into Income (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)Contractshares	Mar. 31, 2016USD ($)Contractshares	Dec. 31, 2016Contractshares
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net gain/(loss) from investments	$ (14,401)	$ 3,709
Other operating expenses	2,092	1,802
Income/(loss) before income taxes	(21,441)	2,208
Income tax provision	8,424	(661)
Net income/(loss)	$ (13,017)	$ 1,547
Shares under derivative contract (in shares) | shares	(3,041)	317,000	16,000
Number of foreign exchange contracts | Contract	0	2	0
Derivatives Designated as Hedging Instruments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Number of foreign exchange contracts | Contract		1
Derivatives Not Designated as Hedging Instruments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Number of foreign exchange contracts | Contract		1
Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income/(loss) before income taxes	$ (19,131)	$ 0
Income tax provision	6,887	0
Net income/(loss)	(12,244)	0
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/(loss) from investments	$ (19,131)	$ 0

Investment in Securities, Fair

Investment in Securities, Fair Values and Gains and Losses of All Derivatives Held (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	$ 102	$ 185	$ 127
Liability derivatives fair value	52	8,165	37
Derivative Instruments, Gain (Loss) [Line Items]
Net gain on derivative	(11)	1,261
Net Gain/(loss) from Investments [Member] | Foreign Exchange Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain on derivative	0	1,192
Net Gain/(loss) from Investments [Member] | Equity Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Net gain on derivative	(11)	69
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	0	0	0
Liability derivatives fair value	0	2,875	0
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	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	2,875	0
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member]
Derivatives, Fair Value [Line Items]
Asset derivatives fair values	102	185	127
Liability derivatives fair value	52	5,290	37
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	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	5,223	0
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	102	185	127
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	$ 52	$ 67	$ 37

Investment in Securities, Maste

Investment in Securities, Master Netting Arrangements for Swaps (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	$ 102	$ 127	$ 185
Swaps [Member]
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	102	96	185
Gross amounts offset in the statements of financial condition	0	0	0
Net amounts of assets presented in the statements of financial condition	102	96	185
Gross amounts not offset in the statements of financial position, assets [Abstract]
Financial instruments	(51)	(9)	(66)
Cash collateral received	0	0	0
Net amount	51	87	119
Offsetting derivative liabilities [Abstract]
Gross amounts of recognized liabilities	51	9	66
Gross amounts offset in the statements of financial condition	0	0	0
Net amounts of liabilities presented in the statements of financial condition	51	9	66
Gross amounts not offset in the statements of financial position, liabilities [Abstract]
Financial instruments	(51)	(9)	(66)
Cash collateral pledged	0	0	0
Net amount	$ 0	$ 0	$ 0

Investment in Securities, Summa

Investment in Securities, Summary of Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	$ 200,051	$ 213,333	$ 217,492
Gross unrealized gains	22,429	26,384	19,302
Gross unrealized losses	(945)	(3,641)	(14,299)
Fair value	221,535	236,076	222,495
Unrealized changes to fair value net of taxes included in other comprehensive income	10,600	15,500
Return of capital on available for sale securities	423	263
Proceeds from sale of investment available for sale	0	0
Gross gains on sale of investments available for sale reclassified from other comprehensive income	0	0
Gross losses on sale of investments available for sale	0	0
Common Stock [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	130,869	150,000	150,000
Gross unrealized gains	0	12,807	0
Gross unrealized losses	(879)	0	(14,299)
Fair value	129,990	162,807	135,701
Closed-end Funds [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	64,589	60,865	62,890
Gross unrealized gains	20,600	11,828	17,760
Gross unrealized losses	(66)	(3,641)	0
Fair value	85,123	69,052	80,650
Mutual Funds [Member]
Available-for-sale Securities, fair value to amortized cost basis [Abstract]
Cost	4,593	2,468	4,602
Gross unrealized gains	1,829	1,749	1,542
Gross unrealized losses	0	0	0
Fair value	$ 6,422	$ 4,217	$ 6,144

Investment in Securities, Inv38

Investment in Securities, Investments Classified as Available for Sale in Unrealized Loss Position (Details)	3 Months Ended
	Mar. 31, 2017USD ($)Investment	Mar. 31, 2016USD ($)Investment	Dec. 31, 2016USD ($)Investment
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 132,733,000	$ 39,413,000	$ 150,000,000
Unrealized losses	(945,000)	(3,641,000)	(14,299,000)
Fair value	$ 131,788,000	$ 35,772,000	$ 135,701,000
Number of investment holdings in loss positions | Investment	2	3	1
Losses deemed to be other than temporary	$ 19,100,000	$ 0
Investment Holding Group One [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment		1
Investment holding impairment period		3 months
Investment Holding Group Two [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Number of investment holdings in loss positions | Investment		2
Investment holding impairment period		9 months
Common Stock [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	130,869,000	$ 0	$ 150,000,000
Unrealized losses	(879,000)	0	(14,299,000)
Fair value	$ 129,990,000	0	135,701,000
Common Stock [Member] | Investment Holding Group One [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Investment holding impairment period	7 months
Common Stock [Member] | Investment Holding Group Two [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Investment holding impairment period	1 month
Closed-end Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 1,864,000	39,413,000	0
Unrealized losses	(66,000)	(3,641,000)	0
Fair value	$ 1,798,000	35,772,000	0
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	1
Investment holding impairment period	3 months
Mutual Funds [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 0	0	0
Unrealized losses	0	0	0
Fair value	$ 0	$ 0	$ 0

Fair Value, Assets and Liabilit

Fair Value, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Assets [Abstract]
Investments in partnerships		$ 8,195	$ 8,343	$ 7,581
Investments in securities (including GBL stock) [Abstract]
Total investments in securities		323,110	342,797	347,626
Liabilities [Abstract]
Securities sold, not yet purchased		7,519	9,984	8,014
Recurring Basis [Member]
Assets [Abstract]
Cash equivalents		307,640	314,082	203,231
Investments in partnerships		130,058	129,398	113,147
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		129,990	135,701	162,807
AFS - Mutual funds		511	500	1,151
Trading - Gov't obligations		99,820	119,823	99,964
Trading - Common stocks		85,802	82,158	79,571
Trading - Mutual funds		3,333	3,143	3,215
Trading - Other		3,654	1,472	918
Total investments in securities		323,110	342,797	347,626
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		85,123	80,650	69,052
AFS - Mutual funds		5,911	5,644	3,066
Trading - Mutual funds		45,250	45,351	43,798
Total investments in affiliated registered investment companies		136,284	131,645	115,916
Total investments		589,452	603,840	576,689
Total assets at fair value		897,092	917,922	779,920
Liabilities [Abstract]
Trading - Common stocks		7,467	9,947	7,947
Trading - Other		52	37	67
Securities sold, not yet purchased		7,519	9,984	8,014
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Cash equivalents		307,640	314,082	203,231
Investments in partnerships		0	0	0
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		129,990	135,701	162,807
AFS - Mutual funds		511	500	1,151
Trading - Gov't obligations		99,820	119,823	99,964
Trading - Common stocks		85,308	81,696	79,065
Trading - Mutual funds		3,333	3,143	3,215
Trading - Other		3,102	1,062	428
Total investments in securities		322,064	341,925	346,630
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		85,123	80,650	69,052
AFS - Mutual funds		5,911	5,644	3,066
Trading - Mutual funds		45,250	45,351	43,798
Total investments in affiliated registered investment companies		136,284	131,645	115,916
Total investments		458,348	473,570	462,546
Total assets at fair value		765,988	787,652	665,777
Liabilities [Abstract]
Trading - Common stocks		7,467	9,947	7,947
Trading - Other		0	0	0
Securities sold, not yet purchased		7,467	9,947	7,947
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Cash equivalents		0	0	0
Investments in partnerships		0	0	0
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		0	0	0
AFS - Mutual funds		0	0	0
Trading - Gov't obligations		0	0	0
Trading - Common stocks		0	1	0
Trading - Mutual funds		0	0	0
Trading - Other		102	127	185
Total investments in securities		102	128	185
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		0	0	0
AFS - Mutual funds		0	0	0
Trading - Mutual funds		0	0	0
Total investments in affiliated registered investment companies		0	0	0
Total investments		102	128	185
Total assets at fair value		102	128	185
Liabilities [Abstract]
Trading - Common stocks		0	0	0
Trading - Other		52	37	67
Securities sold, not yet purchased		52	37	67
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Cash equivalents		0	0	0
Investments in partnerships		0	0	0
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks		0	0	0
AFS - Mutual funds		0	0	0
Trading - Gov't obligations		0	0	0
Trading - Common stocks		494	461	506
Trading - Mutual funds		0	0	0
Trading - Other		450	283	305
Total investments in securities		944	744	811
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds		0	0	0
AFS - Mutual funds		0	0	0
Trading - Mutual funds		0	0	0
Total investments in affiliated registered investment companies		0	0	0
Total investments		944	744	811
Total assets at fair value		944	744	811
Liabilities [Abstract]
Trading - Common stocks		0	0	0
Trading - Other		0	0	0
Securities sold, not yet purchased		0	0	0
Recurring Basis [Member] | Investments Measured at NAV [Member]
Assets [Abstract]
Cash equivalents	[1]	0	0	0
Investments in partnerships	[1]	126,187	125,527	109,552
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks	[1]	0	0	0
AFS - Mutual funds	[1]	0	0	0
Trading - Gov't obligations	[1]	0	0	0
Trading - Common stocks	[1]	0	0	0
Trading - Mutual funds	[1]	0	0	0
Trading - Other	[1]	0	0	0
Total investments in securities	[1]	0	0	0
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds	[1]	0	0	0
AFS - Mutual funds	[1]	0	0	0
Trading - Mutual funds	[1]	0	0	0
Total investments in affiliated registered investment companies	[1]	0	0	0
Total investments	[1]	126,187	125,527	109,552
Total assets at fair value	[1]	126,187	125,527	109,552
Liabilities [Abstract]
Trading - Common stocks	[1]	0	0	0
Trading - Other	[1]	0	0	0
Securities sold, not yet purchased	[1]	0	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member]
Assets [Abstract]
Cash equivalents	[2]	0	0	0
Investments in partnerships	[2]	3,871	3,871	3,595
Investments in securities (including GBL stock) [Abstract]
AFS - Common stocks	[2]	0	0	0
AFS - Mutual funds	[2]	0	0	0
Trading - Gov't obligations	[2]	0	0	0
Trading - Common stocks	[2]	0	0	0
Trading - Mutual funds	[2]	0	0	0
Trading - Other	[2]	0	0	0
Total investments in securities	[2]	0	0	0
Investments in affiliated registered investment companies [Abstract]
AFS - Closed-end funds	[2]	0	0	0
AFS - Mutual funds	[2]	0	0	0
Trading - Mutual funds	[2]	0	0	0
Total investments in affiliated registered investment companies	[2]	0	0	0
Total investments	[2]	3,871	3,871	3,595
Total assets at fair value	[2]	3,871	3,871	3,595
Liabilities [Abstract]
Trading - Common stocks	[2]	0	0	0
Trading - Other	[2]	0	0	0
Securities sold, not yet purchased	[2]	$ 0	$ 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.
[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	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	$ 744	$ 813
Total realized and unrealized gains or (losses) in income - trading	33	(2)
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)	33	(2)
Purchases	167	0
Sales	0	0
Transfers in and/or (out) of Level 3	0	0
Ending balance	944	811
Trading - Common Stocks [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	461	508
Total realized and unrealized gains or (losses) in income - trading	33	(2)
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)	33	(2)
Purchases	0	0
Sales	0	0
Transfers in and/or (out) of Level 3	0	0
Ending balance	494	506
Trading - Other [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	283	305
Total realized and unrealized gains or (losses) in income - trading	0	0
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)	0	0
Purchases	167	0
Sales	0	0
Transfers in and/or (out) of Level 3	0	0
Ending balance	$ 450	$ 305

Investment in Partnerships, O41

Investment in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs"), Breakdown of Consolidated Entities and Investments in Partnerships Line by Accounting Method (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2017USD ($)Entity	Mar. 31, 2016USD ($)Entity	Dec. 31, 2016USD ($)Entity
Variable Interest Entity [Line Items]
Investments in affiliated entities | $	$ 112,400	$ 96,800	$ 112,300
Investments in unaffiliated entities | $	$ 17,600	16,300	17,100
Number of affiliated entities consolidated	2
Number of unaffiliated entities consolidated	0
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	$ 8,195	7,581	8,343
Equity method | $	121,863	105,566	121,055
Total | $	$ 130,058	$ 113,147	$ 129,398
VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	2	1
Additional consolidated entities	0	1	0
Deconsolidated entities	0	(2)	0
Entities consolidated at end of period	1	1	1
VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	4	1
Additional consolidated entities	0	0	0
Deconsolidated entities	0	(3)	0
Entities consolidated at end of period	1	1	1
Prior to Consolidation [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 135,129	$ 117,589	$ 133,794
CFFs [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	3,764	3,487	3,964
CFFs [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	8,195	7,581	8,343
Equity method | $	0	0	0
Total | $	$ 8,195	$ 7,581	$ 8,343
CFFs [Member] | VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	1	0
Additional consolidated entities	0	0	0
Deconsolidated entities	0	(1)	0
Entities consolidated at end of period	0	0	0
CFFs [Member] | VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	2	1
Additional consolidated entities	0	0	0
Deconsolidated entities	0	(1)	0
Entities consolidated at end of period	1	1	1
Partnerships [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ (8,835)	$ (7,929)	$ (8,360)
Partnerships [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity method | $	31,982	36,168	33,202
Total | $	31,982	36,168	33,202
Partnerships [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity method | $	6,873	8,007	6,761
Total | $	$ 6,873	$ 8,007	$ 6,761
Partnerships [Member] | VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	0	1
Additional consolidated entities	0	1	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	1	1	1
Partnerships [Member] | VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	2	0
Additional consolidated entities	0	0	0
Deconsolidated entities	0	(2)	0
Entities consolidated at end of period	0	0	0
Offshore Funds [Member]
Investments in Partnerships by Accounting Method [Abstract]
Total | $	$ 0	$ 0	$ 0
Offshore Funds [Member] | Affiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity method | $	72,263	53,099	70,745
Total | $	72,263	53,099	70,745
Offshore Funds [Member] | Unaffiliated [Member]
Investments in Partnerships by Accounting Method [Abstract]
Fair value | $	0	0	0
Equity method | $	10,745	8,292	10,347
Total | $	$ 10,745	$ 8,292	$ 10,347
Offshore Funds [Member] | VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	1	0
Additional consolidated entities	0	0	0
Deconsolidated entities	0	(1)	0
Entities consolidated at end of period	0	0	0
Offshore Funds [Member] | VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	0	0	0
Additional consolidated entities	0	0	0
Deconsolidated entities	0	0	0
Entities consolidated at end of period	0	0	0

Investment in Partnerships, O42

Investment in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs"), Net Impact by Line Item on the Condensed Consolidated Statements of Financial Position (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Assets [Abstract]
Cash and cash equivalents	$ 307,651	$ 203,239	$ 314,093	$ 205,750
Investments in securities (including GBL stock)	323,110	347,626	342,797
Investments in affiliated registered investment companies	136,284	115,916	131,645
Investments in partnerships	130,058	113,147	129,398
Receivable from brokers	12,021	23,278	12,588
Investment advisory fees receivable	1,349	1,463	9,784
Other assets	7,160	8,031	12,298
Total assets	917,633	812,700	952,603
Liabilities and equity [Abstract]
Securities sold, not yet purchased	7,519	8,014	9,984
Accrued expenses and other liabilities	24,233	36,667	64,367
Redeemable noncontrolling interests	4,050	3,752	4,230
Total equity	881,831	764,267	874,022	$ 751,549
Total liabilities and equity	917,633	812,700	952,603
Consolidated Statements of Income [Abstract]
Total revenues	4,987	4,517
Total expenses	9,319	9,032
Operating loss	(4,332)	(4,515)
Total other income/(expense), net	(17,109)	6,723
Income/(loss) before income taxes	(21,441)	2,208
Income tax provision	(8,424)	661
Net income/(loss)	(13,017)	1,547
Net income (loss) attributable to noncontrolling interests	61	(46)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	(13,078)	1,593
Prior to Consolidation [Member]
Assets [Abstract]
Cash and cash equivalents	307,505	203,204	313,785
Investments in securities (including GBL stock)	316,424	341,730	336,459
Investments in affiliated registered investment companies	136,284	115,916	131,645
Investments in partnerships	135,129	117,589	133,794
Receivable from brokers	9,666	20,958	10,542
Investment advisory fees receivable	1,361	1,471	9,800
Other assets	7,160	8,031	12,298
Total assets	913,529	808,899	948,323
Liabilities and equity [Abstract]
Securities sold, not yet purchased	7,519	8,014	9,984
Accrued expenses and other liabilities	24,179	36,618	64,317
Redeemable noncontrolling interests	0	0	0
Total equity	881,831	764,267	874,022
Total liabilities and equity	913,529	808,899	948,323
Consolidated Statements of Income [Abstract]
Total revenues	4,993	4,522
Total expenses	9,277	8,985
Operating loss	(4,284)	(4,463)
Total other income/(expense), net	(17,218)	6,638
Income/(loss) before income taxes	(21,502)	2,175
Income tax provision	(8,424)	661
Net income/(loss)	(13,078)	1,514
Net income (loss) attributable to noncontrolling interests	0	(79)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	(13,078)	1,593
CFFs [Member]
Assets [Abstract]
Cash and cash equivalents	0	0	0
Investments in securities (including GBL stock)	0	0	0
Investments in affiliated registered investment companies	0	0	0
Investments in partnerships	3,764	3,487	3,964
Receivable from brokers	0	0	0
Investment advisory fees receivable	(5)	(4)	(8)
Other assets	0	0	0
Total assets	3,759	3,483	3,956
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0	0	0
Accrued expenses and other liabilities	19	16	13
Redeemable noncontrolling interests	3,740	3,467	3,943
Total equity	0	0	0
Total liabilities and equity	3,759	3,483	3,956
Consolidated Statements of Income [Abstract]
Total revenues	(5)	(4)
Total expenses	32	33
Operating loss	(37)	(37)
Total other income/(expense), net	75	93
Income/(loss) before income taxes	38	56
Income tax provision	0	0
Net income/(loss)	38	56
Net income (loss) attributable to noncontrolling interests	38	56
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	0	0
Partnerships [Member]
Assets [Abstract]
Cash and cash equivalents	146	35	308
Investments in securities (including GBL stock)	6,686	5,896	6,338
Investments in affiliated registered investment companies	0	0	0
Investments in partnerships	(8,835)	(7,929)	(8,360)
Receivable from brokers	2,355	2,320	2,046
Investment advisory fees receivable	(7)	(4)	(8)
Other assets	0	0	0
Total assets	345	318	324
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0	0	0
Accrued expenses and other liabilities	35	33	37
Redeemable noncontrolling interests	310	285	287
Total equity	0	0	0
Total liabilities and equity	345	318	324
Consolidated Statements of Income [Abstract]
Total revenues	(1)	(1)
Total expenses	10	14
Operating loss	(11)	(15)
Total other income/(expense), net	34	(8)
Income/(loss) before income taxes	23	(23)
Income tax provision	0	0
Net income/(loss)	23	(23)
Net income (loss) attributable to noncontrolling interests	23	(23)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	0	0
Offshore Funds [Member]
Assets [Abstract]
Cash and cash equivalents	0	0	0
Investments in securities (including GBL stock)	0	0	0
Investments in affiliated registered investment companies	0	0	0
Investments in partnerships	0	0	0
Receivable from brokers	0	0	0
Investment advisory fees receivable	0	0	0
Other assets	0	0	0
Total assets	0	0	0
Liabilities and equity [Abstract]
Securities sold, not yet purchased	0	0	0
Accrued expenses and other liabilities	0	0	0
Redeemable noncontrolling interests	0	0	0
Total equity	0	0	0
Total liabilities and equity	0	0	$ 0
Consolidated Statements of Income [Abstract]
Total revenues	0	0
Total expenses	0	0
Operating loss	0	0
Total other income/(expense), net	0	0
Income/(loss) before income taxes	0	0
Income tax provision	0	0
Net income/(loss)	0	0
Net income (loss) attributable to noncontrolling interests	0	0
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ 0	$ 0

Investment in Partnerships, O43

Investment in Partnerships, Offshore Funds and Variable Interest Entities ("VIEs"), Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Balances related to VIEs [Abstract]
Cash and cash equivalents	$ 307,651	$ 314,093	$ 203,239	$ 205,750
Investments in securities	323,110	342,797	347,626
Investments in partnerships	130,058	129,398	113,147
Receivable from broker	12,021	12,588	23,278
Other assets	2,214	7,353	1,270
Payable to brokers	(6,168)	(2,396)	(12,251)
Securities sold, not yet purchased	(7,519)	(9,984)	(8,014)
Accrued expenses and other liabilities	(24,233)	(64,367)	(36,667)
Redeemable noncontrolling interests	(4,050)	(4,230)	(3,752)
VIEs [Member]
Balances related to VIEs [Abstract]
Cash and cash equivalents	146	308	35
Investments in securities	6,686	6,338	5,896
Receivable from broker	2,355	2,046	2,320
Other assets	(7)	(8)	(4)
Accrued expenses and other liabilities	(35)	(37)	(33)
Redeemable noncontrolling interests	(310)	(287)	(285)
AC Group's net interests in consolidated VIE	$ 8,835	$ 8,360	$ 7,929

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Taxes [Abstract]
Effective income tax rate	39.30%	29.90%

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Basic [Abstract]
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (13,078)	$ 1,593
Weighted average shares outstanding (in shares)	23,829	24,863
Basic net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share (in dollars per share)	$ (0.55)	$ 0.06
Diluted [Abstract]
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (13,078)	$ 1,593
Weighted average shares outstanding (in shares)	23,829	24,863
Dilutive restricted stock awards (in shares)	0	314
Total (in shares)	23,829	25,177
Diluted net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share (in dollars per share)	$ (0.55)	$ 0.06

Stockholders' Equity (Details)

Stockholders' Equity (Details) $ / shares in Units, $ in Thousands	Nov. 30, 2015shares	Mar. 31, 2017USD ($)VoteperSharePlan$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares
Stockholders Equity [Abstract]
Shares outstanding (in shares) | shares		24,200,000	24,300,000			25,400,000	24,300,000
Dividends [Abstract]
Dividends declared (in dollars per share) | $ / shares		$ 0				$ 0.10
Stock Award and Incentive Plan [Abstract]
Number of incentive plans | Plan		1
Number of AC shares issued for each GAMCO shares in connection with spin-off (in shares) | shares	1
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
Actual stock based compensation expense		$ 444	$ 449	$ 727	$ 644	$ 644	$ 2,464
2,017		1,640
2,018		1,082
2,019		894
2,020		413
2,021		275
2,022		168
2,023		73
2,024		13
Employee Service Share-based Compensation, Aggregate Disclosures [Abstract]
Compensation cost related to non-vested options not yet recognized		$ 4,100
GAMCO [Member]
Stock Award and Incentive Plan [Abstract]
Number of GAMCO shares exchanged for each AC shares in connection with spin-off (in shares) | shares	1
Stock Options [Member] | Maximum [Member]
Stock Award and Incentive Plan [Abstract]
Term of stock options		10 years
Restricted Stock Awards [Member]
Stock Award and Incentive Plan [Abstract]
Number of AC shares issued for each GAMCO shares in connection with spin-off (in shares) | shares	1
RSAs granted (in shares) | shares	554,100
RSA shares outstanding (in shares) | shares		420,240	424,340			553,100	424,340
Average weighted grant price (in dollars per share) | $ / shares		$ 65.59	$ 65.74			$ 64.02	$ 65.74
Restricted Stock Awards [Member] | Vesting in Three Years from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		30.00%
Award vesting period		3 years
Restricted Stock Awards [Member] | Vesting in Five Years from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		70.00%
Award vesting period		5 years
Restricted Stock Awards [Member] | Vesting in Year Four from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Five from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Six from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Seven from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Eight from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Nine from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | Vesting in Year Ten from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Award vesting percentage		10.00%
Restricted Stock Awards [Member] | GAMCO [Member]
Stock Award and Incentive Plan [Abstract]
Number of GAMCO shares exchanged for each AC shares in connection with spin-off (in shares) | shares	1
Number of GAMCO shares exchanged in connection with spin-off (in shares) | shares	554,100
Q1 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,018		$ 297
2,019		239
2,020		127
2,021		80
2,022		52
2,023		27
2,024		5
Q2 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,017		446
2,018		287
2,019		239
2,020		113
2,021		80
2,022		52
2,023		27
2,024		5
Q3 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,017		399
2,018		259
2,019		216
2,020		93
2,021		63
2,022		37
2,023		14
2,024		3
Q4 [Member]
Actual and projected stock based compensation expense for RSA shares and options [Abstract]
2,017		351
2,018		239
2,019		200
2,020		80
2,021		52
2,022		27
2,023		5
2,024		$ 0
Class A [Member]
Stockholders Equity [Abstract]
Shares outstanding (in shares) | shares		5,051,686	5,058,648			6,154,674	5,058,648
Voting Rights [Abstract]
Number of votes per share | VoteperShare		1
Class A [Member] | Maximum [Member]
Stock Award and Incentive Plan [Abstract]
Number of shares reserved for issuance under each plan (in shares) | shares		2,000,000
Class B [Member]
Stockholders Equity [Abstract]
Shares outstanding (in shares) | shares		19,196,792	19,196,792			19,196,792	19,196,792
Voting Rights [Abstract]
Number of votes per share | VoteperShare		10

Goodwill and Identifiable Int47

Goodwill and Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Goodwill [Line Items]
Goodwill	$ 3,422	$ 3,254	$ 3,422
Impairment charges on goodwill	0	$ 0
Gabelli Securities, Inc. [Member]
Goodwill [Line Items]
Goodwill	$ 3,400

Shareholder-Designated Contri48

Shareholder-Designated Contribution Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Shareholder-Designated Contribution Plan [Abstract]
Contribution price (in dollars per share)			$ 0.25
Shareholder-designated contribution	$ (4,895)	$ 0

Contractual Obligations (Detail

Contractual Obligations (Details) $ in Thousands	Mar. 31, 2017USD ($)
Future minimum lease commitment under operating lease [Abstract]
2,017	$ 282
2,018	94
Total	$ 376

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	May 01, 2017	May 02, 2017	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017
Subsequent Event [Line Items]
Dividends declared (in dollars per share)			$ 0	$ 0.10
GAMCO Note [Member]
Subsequent Event [Line Items]
Prepayment of note			$ 10		$ 160
Principal amount outstanding			$ 90		$ 90
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends declared (in dollars per share)		$ 0.10
Dividends payable date		Jul. 11, 2017
Dividends record date		Jun. 27, 2017
Subsequent Event [Member] | GAMCO Note [Member]
Subsequent Event [Line Items]
Prepayment of note	$ 10
Principal amount outstanding	$ 80
Subsequent Event [Member] | Repurchase of Common Stock [Member]
Subsequent Event [Line Items]
Number of shares of stock repurchased (in shares)		26,909
Average price per share of repurchased shares (in dollars per share)		$ 33.88