Associated Capital (AC) 10-K 8 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Mar. 01, 2019	Jun. 29, 2018
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 Shell Company	false
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Public Float			$ 146,471,327
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	FY
Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		3,562,238
Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		19,022,918

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues
Total revenues	$ 22,779	$ 26,915
Expenses
Compensation	26,607	36,523
Management fee	0	713
Other operating expenses	9,652	10,065
Total expenses	36,259	47,301
Operating loss	(13,480)	(20,386)
Other income/(expense)
Net gain/(loss) from investments	(65,203)	20,598
Interest and dividend income	13,384	10,501
Interest expense	(262)	(227)
Shareholder-designated contribution	(3,300)	(4,222)
Total other income/(expense), net	(55,381)	26,650
Income/(loss) before income taxes	(68,861)	6,264
Income tax benefit	(11,478)	(2,420)
Net income/(loss)	(57,383)	8,684
Net income/(loss) attributable to noncontrolling interests	716	(153)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (58,099)	$ 8,837
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share:
Basic (in dollars per share)	$ (2.52)	$ 0.37
Diluted (in dollars per share)	$ (2.52)	$ 0.37
Weighted average shares outstanding:
Basic (in shares)	23,070	23,792
Diluted (in shares)	23,070	23,925
Actual shares outstanding (in shares)	22,585	23,639
Investment Advisory and Incentive Fees [Member]
Revenues
Total revenues	$ 14,409	$ 14,551
Institutional Research Services [Member]
Revenues
Total revenues	8,284	12,199
Other [Member]
Revenues
Total revenues	$ 86	$ 165

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
Net income/(loss)	$ (57,383)	$ 8,684
Other comprehensive income/(loss), net of tax:
Net unrealized gains on securities available for sale	0	5,395	[1]
Comprehensive income/(loss)	(57,383)	14,079
Less: Comprehensive income/(loss) attributable to noncontrolling interests	716	(153)
Comprehensive income/(loss) attributable to Associated Capital Group, Inc.	$ (58,099)	$ 14,232
[1]	Net of income tax expense of $2,876 for 2017.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Other comprehensive income, net of tax:
Net unrealized gains on securities available for sale, income tax expense	$ 2,876

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 409,564	$ 293,112
Investments in securities (Including GBL stock with a value of $50.9 million and $130.3 million, respectively)	229,960	352,637
Investments in affiliated registered investment companies	142,135	145,914
Investments in partnerships	118,729	145,591
Receivable from brokers	24,629	34,881
Investment advisory fees receivable	4,394	5,739
Receivable from affiliates	1,309	15,866
Deferred tax assets, net	9,422	0
Goodwill	3,519	3,422
Other assets	10,772	9,753
Total assets	954,433	1,006,915
LIABILITIES, REDEEMABLE NONCONTROLLING INTERESTS AND EQUITY
Payable to brokers	5,511	13,281
Income taxes payable and deferred tax liabilities, net	3,577	5,484
Compensation payable	11,388	12,785
Securities sold, not yet purchased	9,574	5,731
Payable to affiliates	515	442
Accrued expenses and other liabilities	7,820	4,815
Total liabilities	38,385	42,538
Redeemable noncontrolling interests	49,800	46,230
Commitments and contingencies (Note L)
Equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none issued and outstanding	0	0
Additional paid-in capital	1,008,319	1,010,505
Retained earnings/(Accumulated Deficit)	(39,889)	13,800
GAMCO Note	0	(50,000)
Accumulated other comprehensive income	0	6,712
Treasury stock, at cost (3,007,016 and 1,952,908 shares, respectively)	(102,207)	(62,895)
Total Associated Capital Group, Inc. stockholders' equity	866,248	918,147
Total equity	866,248	918,147
Total liabilities and equity	954,433	1,006,915
Class A [Member]
Equity:
Common stock	6	6
Class B [Member]
Equity:
Common stock	$ 19	$ 19

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
ASSETS
GBL stock market value	$ 50.9	$ 130.3
Equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Treasury stock, shares (in shares)	3,007,016	1,952,908
Class A [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	6,537,768	6,404,287
Common stock, shares outstanding (in shares)	3,530,752	4,451,379
Class B [Member]
Equity:
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	19,196,792	19,196,792
Common stock, shares outstanding (in shares)	19,054,404	19,187,885

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	Additional Paid-in Capital [Member]	GAMCO Note [Member]	Accumulated Other Comprehensive Income [Member]	Treasury Stock [Member]	Total	Redeemable Noncontrolling Interests [Member]
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	(236)
Contributions from redeemable noncontrolling interests	0	0	0	0	0	0	0	41,598
Consolidation of investment funds	0	0	0	0	0	0	0	791
Net income/(loss)	0	8,837	0	0	0	0	8,837	(153)
Net unrealized gains on securities available for sale, net of income tax	0	0	0	0	748	0	748	0
Amounts reclassified from accumulated other comprehensive income, net of income tax benefit	0	0	0	0	4,647	0	4,647	0
Stock-based compensation expense			5,879				5,879
Dividends declared	0	(2,364)
Dividends declared			(2,401)	0	0	0	(4,765)	0
Proceeds from payment of GAMCO Note	0	0	0	50,000	0	0	50,000	0
Purchase of treasury stock	0	0	0	0	0	(21,221)	(21,221)	0
Balance at Dec. 31, 2017	25	13,800	1,010,505	(50,000)	6,712	(62,895)	918,147	46,230
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Reclassifications pursuant to adoption of new accounting guidance	0	6,712	0	0	(6,712)	0	0	0
Redemptions of noncontrolling interests	0	0	0	0	0	0	0	(3,634)
Consolidation of investment funds	0	0	0	0	0	0	0	6,488
Net income/(loss)	0	(58,099)	0	0	0	0	(58,099)	716
Stock-based compensation expense	0	0	72	0	0	0	72
Dividends declared	0	(2,302)
Dividends declared			(2,258)	0	0	0	(4,560)	0
Proceeds from payment of GAMCO Note	0	0	0	50,000	0	0	50,000	0
Exchange offer	0	0	0	0	0	(32,301)	(32,301)	0
Purchase of treasury stock	0	0	0	0	0	(7,011)	(7,011)	0
Balance at Dec. 31, 2018	$ 25	$ (39,889)	$ 1,008,319	$ 0	$ 0	$ (102,207)	$ 866,248	$ 49,800

CONSOLIDATED STATEMENTS OF EQ_2

CONSOLIDATED STATEMENTS OF EQUITY (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)$ / shares
CONSOLIDATED STATEMENTS OF EQUITY [Abstract]
Net unrealized gains on securities available for sale, income tax expense	$ 277
Amounts reclassified from accumulated other comprehensive income, income tax benefit	$ (2,599)
Dividend declared (in dollars per share) | $ / shares	$ 0.20

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating activities
Net income/(loss)	$ (57,383)	$ 8,684
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Equity in net gains from partnerships	(2,078)	(10,274)
Depreciation and amortization	21	16
Stock-based compensation expense	72	5,879
Deferred income taxes	(12,825)	(3,168)
Other-than-temporary loss on available for sale securities	0	19,201
Donated securities	0	2,627
Losses on exchange offers	8,706	0
Unrealized losses on securities	54,397	0
Realized (gains)/losses on sales of securities	37	(167)
Gains on contribution of available for sale securities to subsidiary	0	(11,788)
(Increase)/decrease in assets:
Investments in securities	53,924	(26,231)
Investments in partnerships:
Contributions to partnerships	(8,577)	(26,278)
Distributions from partnerships	31,948	21,151
Receivable from affiliates	(443)	657
Receivable from brokers	13,430	(22,292)
Investment advisory fees receivable	1,345	4,045
Goodwill and intangible assets	(97)	0
Other assets	(757)	(2,417)
Increase/(decrease) in liabilities:
Payable to affiliates	73	(1,013)
Payable to brokers	(7,770)	10,885
Income taxes payable and deferred tax liabilities, net	1,496	(1,203)
Compensation payable	(1,397)	(4,892)
Accrued expenses and other liabilities	2,858	(31,042)
Total adjustments	134,363	(76,304)
Net cash provided by/(used in) operating activities	76,980	(67,620)
Investing activities
Purchases of securities	(12,350)	(4,900)
Proceeds from sales of securities	1,958	271
Return of capital on securities	128	895
Purchase of GBL 1.6% Note (due February 28, 2018)	15,000	(15,000)
Net cash provided by/(used in) investing activities	4,736	(18,734)
Financing activities
Contributions from redeemable noncontrolling interests	0	41,598
Redemptions of redeemable noncontrolling interests	(3,634)	(236)
Dividends paid	(4,666)	(4,768)
Purchase of treasury stock	(7,011)	(21,221)
Proceeds from payment of GAMCO Note	50,000	50,000
Net cash provided by financing activities	34,689	65,373
Net increase/(decrease) in cash and cash equivalents	116,405	(20,981)
Cash, cash equivalents and restricted cash at beginning of period	293,312	314,293
Increase in cash from consolidation	47	0
Cash, cash equivalents and restricted cash at end of period	409,764	293,312
Supplemental disclosures of cash flow information:
Cash paid for interest	261	227
Cash paid/(received) for taxes	(140)	2,077
Reconciliation to cash, cash equivalents and restricted cash
Cash and cash equivalents	409,564	293,112
Restricted cash included in receivable from brokers	$ 200	$ 200

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) $ in Thousands	Jan. 01, 2018USD ($)	Oct. 01, 2017USD ($)	Jul. 19, 2017USD ($)	Nov. 30, 2017USD ($)	Dec. 31, 2018USD ($)Offershares
Non-cash activity:
Increase (decrease) in cash and cash equivalents from deconsolidation	$ 47
Contribution of available for sale securities to subsidiary				$ 91,303
Increase in other net assets from consolidation	6,441	$ 791	$ 99,276	3,344
Increase in redeemable noncontrolling interest from consolidation	$ 6,488	$ 791	$ 37,901	$ 3,344
Class A Common Stock [Member]
Non-cash activity:
Number of exchange offers completed | Offer					2
Number of AC shares exchanged (in shares) | shares					867,535
GBL 1.6% Note [Member]
Investing activities
Notes receivable, interest rate					1.60%
Notes receivable, maturity date					Feb. 28, 2018
GBL [Member] | Class A Common Stock [Member]
Non-cash activity:
Number of AC shares exchanged (in shares) | shares					1,376,554
Value of shares issued					$ 32,301

Organization

Organization	12 Months Ended
	Dec. 31, 2018
Organization [Abstract]
Organization	A. Organization Unless we have indicated otherwise, or the context otherwise requires, references in this report to “Associated Capital Group, Inc.,” “AC Group,” “the Company,” “AC,” “we,” “us” and “our” or similar terms are to Associated Capital Group, Inc., its predecessors and its subsidiaries. The Spin-off and Related Transactions We are a Delaware corporation that provides alternative investment management, institutional research and underwriting services. In addition, we derive investment income/(loss) from proprietary trading of cash and other assets awaiting deployment in our operating business. On November 30, 2015, GAMCO Investors, Inc. (“GAMCO” or “GBL”) distributed all the outstanding shares of each class of AC common stock on a pro rata one-for-one basis to the holders of each class of GAMCO’s common stock (the “Spin-off”). We conduct our investment management activities through Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). GCIA and its wholly-owned subsidiary, Gabelli & Partners, LLC (“Gabelli & Partners”), collectively serve as general partners or investment managers to investment funds including limited partnerships and offshore companies (collectively, “Investment Partnerships”), and separate accounts. We primarily manage assets in equity event-driven value strategies, across a range of risk and event arbitrage portfolios. The business earns management and incentive fees from its advisory activities. Management fees are largely based on a percentage of assets under management. Incentive fees are based on the percentage of the investment returns of certain clients’ portfolios. GCIA is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended. We provide our institutional research and underwriting services through G.research, LLC (“G.research”), an indirect 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”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”). G.research's revenues are derived primarily from institutional research services. In connection with the Spin-off, GAMCO issued a promissory note (the “GAMCO Note”) to AC Group in the original principal amount of $250 million used to partially capitalize the Company. During the year ended December 31, 2018, AC received principal repayments totaling $50 million on the GAMCO Note which fully satisfied the outstanding principal balance. The GAMCO Note bore interest at 4% per annum and had an original maturity date of November 30, 2020. In addition, GCIA acquired 4,393,055 shares of GAMCO Class A common stock for $150 million in connection with the Spin-off. Consolidated Financial Statements All material intercompany transactions and balances have been eliminated. Subsidiaries are fully consolidated from the date the Company obtains control and continue to be consolidated until the date that such control ceases. The Company’s principal market is in the United States.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Significant Accounting Policies [Abstract]
Significant Accounting Policies	B. Significant Accounting Policies Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills and Notes with maturities of three months or less at the time of purchase are also considered cash equivalents. Investments in Securities Investments in securities are accounted for at fair market value as of each balance sheet date. As a result of recent changes to accounting standards, beginning in 2018, any realized or unrealized gains or losses on equity securities are reported in current period earnings in net gain/(loss) from investments on the consolidated statements of income. Prior to 2018, such investments were classified as either trading securities or available for sale (“AFS”) securities. Management determined the appropriate classification of debt and equity securities at the time of purchase and reevaluated such designations as of each balance sheet date. A substantial portion of such investments were held for resale in anticipation of short-term market movements and, therefore, were classified as trading securities. Any realized or unrealized gains or losses from trading securities were reported in current period earnings in net gain/(loss) from investments on the consolidated statements of income. Any unrealized gains or losses, net of taxes, on AFS securities were reported as a component of other comprehensive income/(loss) on the consolidated statements of comprehensive income/(loss) except for losses deemed to be other than temporary which were recorded as realized losses on the consolidated statements of income. U.S. Treasury Bills and Notes with maturities of greater than three months at the time of purchase are considered investments in securities. Securities that are not readily marketable are stated at their estimated fair values in accordance with GAAP. Securities transactions and any related gains and losses are recorded on a trade date basis. The Company determines the cost of a security sold by using specific identification. Securities sold, but not yet purchased are recorded on the trade date, and are stated at fair value and represent obligations of AC to purchase the securities at prevailing market prices. Therefore, the future satisfaction of such obligations may be for an amount greater or less than the amounts recorded on the consolidated statements of financial condition. The ultimate gains or losses recognized are dependent upon the prices at which these securities are purchased to settle the obligations under the sales commitments. Unrealized gains and losses and realized gains and losses from covers of securities sold, not yet purchased transactions are included in net gain/(loss) from investments on the consolidated statements of income. Fair Value of Financial Instruments All of the instruments in investments in securities are measured at fair value. The Company’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the Financial Accounting Standards Board’s (“FASB”) guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: · Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities at the reporting date. Level 1 assets include cash equivalents, government obligations, open-end mutual funds, closed-end funds and equities. · Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities that are not active and inputs other than quoted prices that are observable for the asset or liability such as interest rates and yield curves that are observable at commonly-quoted intervals. Assets included in this category are over-the-counter derivatives that have valuation inputs that can generally be corroborated by observable market data. · Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets in this category generally include equities that trade infrequently and direct private equity investments. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy in which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not yet established in the marketplace, and other characteristics particular to the instrument. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that market participants are willing to pay for an asset. Ask prices represent the lowest price that market participants are willing to accept for an asset. Cash equivalents Investments in securities Investments in partnerships —T Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of sub-advisory fees due from Gabelli Funds, LLC Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts related to purchases and sales of securities as well as cash amounts held in anticipation of investment. Consolidation The Company assesses all entities with which it is involved for consolidation on a case by case basis depending on the specific facts and circumstances surrounding each entity. Pursuant to applicable guidance, the Company first evaluates whether it holds a variable interest in an entity. The Company considers all economic interests including proportionate interests through related parties, to determine if such interests are considered a variable interest. Fees paid to the Company that are customary and commensurate with the level of services provided from entities in which the Company does not hold other economic interests in the entity are not considered as a variable interest. For any entity where the Company has determined that it holds a variable interest, the Company performs an assessment to determine whether it qualifies as a variable interest entity (“VIE”). The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. The Company does not consolidate those VIEs in which substantive kick-out rights have been granted to the unaffiliated investors to either dissolve the fund or remove the general partner. Under the variable interest entity model, the Company consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When the Company alone is not considered to have a controlling financial interest in the VIE but the Company and its related parties under common control in the aggregate have a controlling financial interest in the VIE, the Company will be deemed the primary beneficiary if it is the party that is most closely associated with the VIE. When the Company and its related parties not under common control in the aggregate have a controlling financial interest in the VIE, the Company would be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of the Company. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion as required. Investments and redemptions (either by the Company, related parties or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. Entities that do not qualify as VIEs are assessed for consolidation as voting interest entities ("VOEs") under the voting interest model. Under the voting interest model, the Company consolidates those entities it controls through a majority voting interest or other means. Equity Method Investments. See Note E, Investments in Partnerships and Variable Interest Entities, for more information. Investments in Partnerships and Affiliates The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities (collectively, “unaffiliated entities”). Given that we are not a general partner or investment manager in any unaffiliated entity, we neither earn any management or incentive fees nor have a controlling financial interest in such entity. We do not consolidate any unaffiliated entity. The balance sheet caption investments in partnerships includes investments in both affiliated and unaffiliated entities. The Company records noncontrolling interests in consolidated entities for which the Company’s ownership is less than 100%. Refer to Noncontrolling Interests below for additional information. Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and includes such derivatives in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company will enter into hedging transactions to manage its exposure to foreign currencies or equity prices related to its proprietary investments. Except for a foreign exchange contract entered into by the Company, these transactions are not designated as hedges for accounting purposes, and changes in fair values of these derivatives are included in net gain/(loss) from investments on the consolidated statements of income and included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. See Note D, Investments in Securities, for additional information. Major Revenue-Generating Services and Revenue Recognition The Company’s revenues are derived primarily from investment advisory and incentive fees and institutional research services. Investment advisory and incentive fees are directly influenced by the level and mix of AUM as fees are derived from a contractually-determined percentage of the balance of each account as well as a percentage of the investment performance of certain accounts. Management fees from investment partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. These revenues vary depending upon the level of capital flows, financial market conditions, investment performance and the fee rates applicable to each account. Incentive allocations or fees are generally recognized at the end of an annual measurement period and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. G.research, LLC provides institutional research services and earns brokerage commissions and sales manager fees from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients and retail customers of affiliated companies. Commission revenue and related clearing charges are recorded on a trade-date basis and are included in institutional research services and other operating expenses, respectively, on the consolidated statements of income. It has also been involved in syndicated underwriting activities that included public equity and debt offerings managed by major investment banks. Underwriting fees include gains, losses, selling concessions and fees, net of syndicate expenses, arising from securities offerings in which G.research acts as underwriter or agent and are accrued as earned. See Note C, Revenue, for additional information. Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four to seven years. As of December 31, 2018 and 2017, fixed assets with a net book value of $84,000 and $39,000, respectively, are included in other assets on the consolidated statements of financial condition. Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by, other affiliates and are included in other operating expenses on the consolidated statements of income. These overhead expenses primarily relate to centralized functions including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management. These overhead expenses are allocated to the Company by other affiliates or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, or by revenue, headcount, space or other allocation methodologies periodically reviewed by the management of the Company and the affiliates. In addition, GCIA and GAMCO serve as paymasters under compensation payment sharing agreements. The compensation expense and related payroll taxes and benefits of certain dual employees that provide services to both AC and affiliates that are paid for by GCIA or GAMCO are allocated between the companies based upon the relative time each employee devotes to each affiliate. These allocated compensation expenses are included in compensation on the consolidated statements of income. All of the allocations and estimates in the financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not be indicative of the actual expenses we would have incurred or may incur in the future. Management Fee Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the income attributable to consolidated funds and partnerships, is paid to the Executive Chairman or his designees in accordance with his employment agreement. Stock-Based Compensation We use a fair value-based method of accounting for restricted stock awards (“RSAs”) provided to our employees. The estimated fair value of RSAs is determined by using the closing price of the relevant stock on the day prior to the grant date. The value of the RSAs, net of estimated forfeitures, is recognized as expense over the respective vesting period for these awards. The forfeiture rate is determined by reviewing historical forfeiture rates for previous stock-based compensation grants and is reviewed and updated quarterly, if necessary. 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. In connection with the spin-off of the Company from GAMCO, any GAMCO employee (including GAMCO employees who became AC employees) who had GAMCO RSAs were granted an equal number of AC RSAs so that the total value of the RSAs post-spin was equivalent to the total value pre-spin. In accordance with GAAP, we have allocated the related stock compensation costs of the AC RSAs and the GAMCO RSAs between GAMCO and AC based upon each employee’s individual allocation of their responsibilities between the two companies. During 2018, the Company’s Board of Directors approved the grant of Phantom Restricted Stock awards (“Phantom RSAs”). The Phantom RSAs will be settled by a cash payment, net of applicable withholding tax, on the vesting dates. In addition, an amount equivalent to the cumulative dividends declared on shares of the Company’s Class A common stock during the vesting period will be paid to participants on vesting. The Phantom RSAs are accounted for as a liability because cash settlement is required and compensation will be recognized over the vesting period. In determining the compensation expense to be recognized each period, the Company will remeasure the fair value of the liability at each reporting date taking into account the remaining vesting period attributable to each award and the current market value of the Company’s Class A stock. In making these determinations, the Company will consider the impact of Phantom RSAs that have been forfeited prior to vesting (e.g., due to an employee termination). The Company has elected to consider forfeitures as they occur. The expense attributable to the Phantom RSAs is allocated solely to AC. Goodwill Goodwill is initially measured as the excess of the cost of an acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th and whenever certain triggering events are met. In assessing the recoverability of goodwill as of November 30, 2018 and 2017, we performed a qualitative assessment of whether it was more likely than not that an impairment had occurred and concluded that a quantitative analysis was not required. As such, no impairment was recorded during 2018 or 2017. Income Taxes For purposes of the preparation of the consolidated financial statements, the provision for income taxes is computed using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. A valuation allowance would be recorded to reduce the carrying value of deferred tax assets to the amount that is more likely than not to be realized. In making such a determination of whether a valuation allowance is necessary, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that the Company would be able to realize the Company’s deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with Accounting Standards Codification (“ASC”) Topic 740. The Company first determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position. For those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes the accrual of interest on uncertain tax positions and penalties in income tax provision on the consolidated statements of income. Accrued interest and penalties on uncertain tax positions are included within accrued expenses and other liabilities on the consolidated statements of financial condition. Noncontrolling Interests Noncontrolling interests in investment partnerships that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the consolidated statements of financial condition between liabilities and equity. For the years ended December 31, 2018 and 2017, net income/(loss) attributable to noncontrolling interests on the consolidated statements of income represents the share of net income/(loss) attributable to third-party investors in consolidated funds. Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and receivable from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. government. Receivables from brokers and financial institutions can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees/allocation, which are included in investment advisory fees receivable and receivables from affiliates on the consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third party brokers or custodians. Business Segment The Company operates in one business segment. The Company’s chief operating decision maker reviews the Company’s financial performance at an aggregate level. Recent Accounting Developments In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers Revenue Recognition In January 2016, the FASB issued ASU 2016-01, Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other On May 10, 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation On December 22, 2017, the SEC issued SAB 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act Income Taxes In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

Revenue

Revenue	12 Months Ended
	Dec. 31, 2018
Revenue [Abstract]
Revenue	C. Revenue The Company’s revenue is accounted for as contracts with customers, and the timing of revenue recognition is based on the Company’s analysis of the provisions of each respective contract. Depending upon the specific terms, revenue may be recognized over time or at a point in time. Modifications to contracts may affect the timing of the satisfaction of performance obligations, the determination of the transaction price, and the allocation of the price to performance obligations, any of which may impact the timing of the recognition of the related revenue. The Company’s major revenue sources are as follows: Investment advisory and incentive fees. a. Asset-based advisory fees – The Company receives a management fee, payable monthly in advance based on value of the net assets of the client. It is generally set at a rate of 1%-1.5% per annum. Asset-based management fee revenue is recognized only as the services are performed over the period. b. Performance-based advisory fees – Certain client contracts call for additional fees and or allocations of income tied to a certain percentage, generally 20%, of the investment performance of the account over a measurement period, typically the calendar year. In addition, the contracts provide that performance-based fees or allocations become fixed in the event of an investor redemption prior to the end of the measurement period. In the event that an account suffers a loss in one period, it must be recovered before incentive fees are earned by the Company; this is commonly referred to as a “high water mark” provision. While the Company’s performance obligation is satisfied over time, the Company does not recognize performance-based fees until the end of the measurement period or the time of the investor redemption when the uncertainty surrounding the amount of the variable consideration is resolved. c. Sub-advisory fees – Pursuant to agreements with other investment advisors, the Company receives a percentage of advisory fees received by such advisors from certain of their investment fund clients. These fees may be either asset- or performance-based. In addition, they may be subject to reduction by certain expenses as set forth in the respective agreements. Sub-advisory fee revenue which is asset-based is recognized ratably as the services are performed over the relevant contractual performance period. Sub-advisory fee revenue which is performance-based is recognized only when it becomes fixed and not subject to adjustment. The Company reserves the right to waive or reduce asset-based and performance-based fees with respect to certain investors in the investment funds which may include investments by employees and other related parties. Advisory and incentive fees payable by investment funds are typically approved by third-party administrators and paid directly from the accounts’ assets. Such fees attributable to separate accounts may be subject to review and approval by the client and may be paid either from the accounts’ assets or directly by the client. Our advisory fee revenues are influenced by both the amount of AUM and the investment performance of our products. An overall decline in the prices of securities may cause our advisory fees to decline by either causing the value of our AUM to decrease or causing our clients to withdraw funds in favor of investments they perceive to offer greater opportunity or lower risk. Similarly, success in the investment management business is dependent on investment performance as well as distribution and client servicing. Good performance can stimulate sales of our investment products and tends to keep withdrawals and redemptions low, which generates higher asset-based management fees. Conversely, poor performance, both in absolute terms and/or relative to peers and industry benchmarks, tends to result in decreased sales, increased withdrawals and redemptions and in the loss of clients, with corresponding decreases in revenues to us. Institutional Research Services. a. Hard dollar payments – The Company receives direct payments for research services provided to related and unrelated parties. The Company may or may not have contracts for such services. Where a contract for such services is in place, the contractual fee for the period is recognized ratably over the contract period, typically a calendar year, which is considered the period over which the Company satisfies its performance obligation. Payments for contracts with affiliated parties are collected monthly. For other payments where no research contract exists, revenue is not recognized until agreement is reached with the client that the Company has satisfied its performance obligation. At that time, a value is assigned to those services and an invoice is presented to the client for payment. b. Commissions – Commissions are charged on the execution of securities transactions made on behalf of client accounts on an agency basis and are based on a rate schedule. The Company meets its performance obligations and recognizes commission revenue when the related securities transactions are executed and the security is transferred to or from the customer. Commissions earned are typically collected from the clearing brokers utilized by G.research on a daily or weekly basis. c. Selling concessions – The Company participates as a member of the selling group of underwritten equity offerings and receives compensation based on the difference between what its clients pay for the securities sold to its institutional clients and what the issuer receives. The terms of the selling concessions are set forth in contracts between the Company and the underwriter. The Company meets its performance obligations and recognizes selling commissions upon the sale of the related securities to its clients. d. Sales manager fees – The Company participates as sales manager of at-the-market offerings of certain affiliated closed-end funds and receives a tiered percentage of proceeds as stipulated in agreements between the Company, the funds and the funds’ investment adviser and as approved by the funds’ board of directors. The Company meets its performance obligations and recognizes sales manager fees upon sale of the related closed-end funds. Sales manager fees earned are typically collected from the clearing brokers utilized by G.research on a daily or weekly basis. Institutional research revenues are impacted by the perceived value of the research product provided to clients, the volume of securities transactions and the acquisition or loss of new client relationships. Other. Total revenues by type were as follows for the year ended December 31, 2018 (in thousands): Investment advisory and incentive fees Asset-based advisory fees $ 7,384 Performance-based advisory fees 3,115 Sub-advisory fees 3,910 14,409 Institutional research services Hard dollar payments 2,835 Commissions 5,349 Selling concessions 84 Sales manager fees 16 8,284 Other Underwriting fees 19 Miscellaneous 67 86 Total $ 22,779

Investments in Securities

Investments in Securities	12 Months Ended
	Dec. 31, 2018
Investments in Securities [Abstract]
Investments in Securities	D. Investments in Securities Investments in securities at December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Cost Fair Value Cost Fair Value Securities: Government obligations $ 11,694 $ 11,707 $ 53,681 $ 53,804 Common stocks 244,557 213,151 209,686 228,557 Mutual funds 761 1,161 1,959 3,157 Other investments 5,285 3,941 825 1,824 262,297 229,960 266,151 287,342 Available for sale securities: Common stocks - - 65,331 65,024 Mutual funds - - 103 271 - - 65,434 65,295 Total investments in securities $ 262,297 $ 229,960 $ 331,585 $ 352,637 Securities sold, not yet purchased at December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Proceeds Fair Value Proceeds Fair Value Equity securities: Common stocks $ 10,150 $ 9,485 $ 4,862 $ 5,396 Other investments - 89 1 335 Total securities sold, not yet purchased $ 10,150 $ 9,574 $ 4,863 $ 5,731 Investments in affiliated registered investment companies at December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Cost Fair Value Cost Fair Value Equity securities: Closed-end funds $ 73,950 $ 85,090 $ 26,231 $ 26,929 Mutual funds 49,714 57,045 41,950 48,328 123,664 142,135 68,181 75,257 Available for sale securities: Closed-end funds - - 53,782 66,218 Mutual funds - - 3,420 4,439 - - 57,202 70,657 Total investments in affiliated registered investment companies $ 123,664 $ 142,135 $ 125,383 $ 145,914 The following table identifies all reclassifications between accumulated other comprehensive income (“AOCI”) and net income/(loss) for the years ended December 31, 2018 and 2017 (in thousands): Year ended December 31, 2018 2017 Affected Line Item Reason for Reclassification $ - $ 167 Net gain (loss) from investments Realized gains on sale of AFS securities - 11,788 Net gain (loss) from investments Gains on transfer of AFS securities to affiliated broker-dealer - (19,201 ) Net gain (loss) from investments Other than temporary impairment of AFS securities - (7,246 ) Income (loss) before income taxes - 2,599 Income tax benefit $ - $ (4,647 ) Net income (loss) For the year ended December 31, 2017, AC recognized a $19.1 million OTT impairment on the GBL shares that were held as AFS securities due to the magnitude and persistence of the unrealized loss. In November 2017, AC made a non-cash contribution of certain AFS securities totaling $91.3 million to G.research which was required to account for these as trading securities under specialized industry accounting. This transaction resulted in the recognition of a gain of $11.8 million and income tax expense of $4.2 million in net income due to the reclassification of unrealized gains net of taxes from AOCI upon the completion of this transfer. The Company recognizes all equity derivatives as either assets or liabilities measured at fair value and includes them in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company and/or consolidated funds will enter into hedging transactions to manage their exposure to foreign currencies and equity prices related to their proprietary investments. At December 31, 2018 and December 31, 2017 we held derivative contracts on 1.0 million and 1.7 million equity shares, respectively, that are included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. We had one foreign exchange contract outstanding at December 31, 2018, but none at December 31, 2017. Except for the foreign exchange contract entered into by the Company, these transactions are not designated as hedges for accounting purposes, and changes in fair values of these derivatives are included in net gain/(loss) from investments on the consolidated statements of income and included in investments in securities, securities sold, not yet purchased, or receivable from or payable to brokers on the consolidated statements of financial condition. The following tables identify the fair values and gains and losses of all derivatives and foreign currency positions held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition Location December 31, 2018 December 31, 2017 Financial Condition Location December 31, 2018 December 31, 2017 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ 204 $ - Payable to brokers $ - $ - Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in securities $ 464 $ 229 Securities sold, not yet purchased $ 89 $ 335 Total $ 668 $ 229 $ 89 $ 335 Year ended December 31, Type of Derivative Income Statement Location 2018 2017 Foreign exchange contracts Net gain/(loss) from investments $ 204 $ - Equity contracts Net gain/(loss) from investments 4,774 (98 ) Total $ 4,978 $ (98 ) The Company is a party to enforceable master netting arrangements for swaps entered into with major U.S. financial institutions as part of its investment strategy. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, are shown gross in assets and liabilities on the consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statements of Financial Condition Net Amounts of Assets Presented in the Statements of Financial Condition Financial Instruments Cash Collateral Received Net Amount Swaps: (In thousands) December 31, 2018 $ 416 $ - $ 416 $ (89 ) $ - $ 327 December 31, 2017 $ 229 $ - $ 229 $ (229 ) $ - $ - Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statements of Financial Condition Net Amounts of Liabilities Presented in the Statements of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount Swaps: (In thousands) December 31, 2018 $ 89 $ - $ 89 $ (89 ) $ - $ - December 31, 2017 $ 334 $ - $ 334 $ (229 ) $ - $ 105 The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of AFS securities as of December 31, 2017 (in thousands): Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Common stocks $ 65,331 $ - $ (307 ) $ 65,024 Closed-end Funds 53,782 12,436 - 66,218 Mutual funds 3,523 1,187 - 4,710 Total $ 122,636 $ 13,623 $ (307 ) $ 135,952 Changes in net unrealized gains, net of taxes, for AFS securities for the year ended December 31, 2017 of $5.4 million have been included in other comprehensive income, a component of equity, at December 31, 2017. Return of capital on AFS securities was $0.9 million for the year ended December 31, 2017. For the year ended December 31, 2017, proceeds from the sales of AFS investments were approximately $0.3 million. The Company has an established accounting policy and methodology to determine an other-than-temporary (“OTT”) impairment. Under this policy, AFS securities are evaluated for OTT impairments and any impairment charges are recorded in net gain/(loss) from investments on the consolidated statements of income. Management reviews all AFS securities whose cost exceeds their market value to determine if the impairment is OTT. Management uses qualitative factors such as the diversification of the investment, the amount of time that the investment has been impaired, the intent to sell or hold the security, and the severity of the decline in determining whether the impairment is OTT.As discussed in Note A, equity securities with readily determinable fair values are no longer considered AFS securities after December 31, 2017. Investments classified as AFS that were in an unrealized loss position for which OTT impairment had not been recognized as of December 31, 2017 consisted of the following (in thousands): Cost Unrealized Losses Fair Value Common Stocks $ 65,331 $ (307 ) $ 65,024 Total $ 65,331 $ (307 ) $ 65,024 The Company determines the cost of a security sold by using specific identification.

Investment Partnerships and Var

Investment Partnerships and Variable Interest Entities	12 Months Ended
	Dec. 31, 2018
Investment Partnerships and Variable Interest Entities [Abstract]
Investment Partnerships and Variable Interest Entities	E. Investment Partnerships and Variable Interest Entities The Company is general partner or co-general partner of various affiliated entities in which the Company had investments totaling $100.1 million and $124.5 million at December 31, 2018 and 2017, respectively, and whose underlying assets consist primarily of marketable securities (“Affiliated Entities”). We also had investments in unaffiliated partnerships, offshore funds and other entities of $18.6 million and $21.1 million at December 31, 2018 and 2017, respectively (“Unaffiliated Entities”). We evaluate each entity to determine its appropriate accounting treatment and disclosure. Certain of the Affiliated Entities, and none of the Unaffiliated Entities, are consolidated. The value of entities where consolidation is not deemed appropriate is included in investments in partnerships on consolidated statements of financial condition. This caption includes investments in Affiliated Entities and Unaffiliated Entities The following table highlights the number of entities that we consolidate as well as the basis under which they are consolidated: VIEs VOEs Entities consolidated at December 31, 2016 1 1 Additional consolidated entities - 2 Deconsolidated entities - - Entities consolidated at December 31, 2017 1 3 Additional consolidated entities - 2 Deconsolidated entities - - Entities consolidated at December 31, 2018 1 5 The following table reflects the net impact of the consolidated entities on the consolidated statements of financial condition (in thousands): December 31, 2018 Prior to Consolidation Consolidated Entities As Reported Assets Cash and cash equivalents $ 396,074 $ 13,490 $ 409,564 Investments in securities (including GBL stock) 131,764 98,196 229,960 Investments in affiliated investment companies 193,006 (50,871 ) 142,135 Investments in partnerships 138,119 (19,390 ) 118,729 Receivable from brokers 7,998 16,631 24,629 Investment advisory fees receivable 4,427 (33 ) 4,394 Other assets 24,551 471 25,022 Total assets $ 895,939 $ 58,494 $ 954,433 Liabilities and equity Securities sold, not yet purchased $ 4,631 $ 4,943 $ 9,574 Accrued expenses and other liabilities 25,060 3,751 28,811 Redeemable noncontrolling interests - 49,800 49,800 Total equity 866,248 - 866,248 Total liabilities and equity $ 895,939 $ 58,494 $ 954,433 December 31, 2017 Prior to Consolidation Consolidated Entities As Reported Assets Cash and cash equivalents $ 287,963 $ 5,149 $ 293,112 Investments in securities (including GBL stock) 255,252 97,385 352,637 Investments in affiliated investment companies 198,469 (52,555 ) 145,914 Investments in partnerships 160,456 (14,865 ) 145,591 Receivable from brokers 11,722 23,159 34,881 Investment advisory fees receivable 5,749 (10 ) 5,739 Other assets 28,865 176 29,041 Total assets $ 948,476 $ 58,439 $ 1,006,915 Liabilities and equity Securities sold, not yet purchased $ 5,405 $ 326 $ 5,731 Accrued expenses and other liabilities 24,924 11,883 36,807 Redeemable noncontrolling interests - 46,230 46,230 Total equity 918,147 - 918,147 Total liabilities and equity $ 948,476 $ 58,439 $ 1,006,915 The following table reflects the net impact of the consolidated entities on the consolidated statements of income (in thousands): Year Ended December 31, 2018 Prior to Consolidation Consolidated Entities As Reported Total revenues $ 22,855 $ (76 ) $ 22,779 Total expenses 34,413 1,846 36,259 Operating loss (11,558 ) (1,922 ) (13,480 ) Total other income/(expense), net (58,019 ) 2,638 (55,381 ) Income/(loss) before income taxes (69,577 ) 716 (68,861 ) Income tax benefit (11,478 ) - (11,478 ) Net income/(loss) before NCI (58,099 ) 716 (57,383 ) Net income attributable to noncontrolling interests - 716 716 Net loss $ (58,099 ) $ - $ (58,099 ) Year Ended December 31, 2017 Prior to Consolidation Consolidated Entities As Reported Total revenues $ 26,962 $ (47 ) $ 26,915 Total expenses 45,595 1,706 47,301 Operating loss (18,633 ) (1,753 ) (20,386 ) Total other income, net 25,050 1,600 26,650 Income/(loss) before income taxes 6,417 (153 ) 6,264 Income tax benefit (2,420 ) - (2,420 ) Net income/(loss) before NCI 8,837 (153 ) 8,684 Net loss attributable to noncontrolling interests - (153 ) (153 ) Net income $ 8,837 $ - $ 8,837 Variable Interest Entities With respect to each consolidated VIE, its assets may only be used to satisfy its obligations. The investors and creditors of any consolidated VIE have no recourse to the Company’s general assets. In addition, the Company neither benefits from such VIE’s assets nor bears the related risk beyond its beneficial interest in the VIE. The following table presents the balances related to VIEs that are consolidated and included on the consolidated statements of financial condition as well as the Company’s net interest in these VIEs (in thousands): December 31, 2018 December 31, 2017 Cash and cash equivalents $ 2,560 $ 120 Investments in securities 7,253 8,757 Receivable from broker 553 1,657 Other assets (11 ) (19 ) Accrued expenses and other liabilities (31 ) (29 ) Redeemable noncontrolling interests (419 ) (284 ) AC's net interests in consolidated VIE $ 9,905 $ 10,202 Equity Method Investments The Company’s equity method investments include investments in partnerships and offshore funds. These equity method investments are not consolidated but on an aggregate basis exceed 10% of the Company’s consolidated total assets or income. The summarized financial information of the Company’s equity method investments as of and for the years ended December 31, 2018 and 2017 are as follows (in millions): December 31, 2018 December 31, 2017 Total assets $ 1,549 $ 1,600 Total liabilities 260 322 Total equity 1,289 1,278 For the year 2018 2017 Net income/(loss) (12 ) 112

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2018
Fair Value [Abstract]
Fair Value	F. Fair Value The following tables present information about the Company’s assets and liabilities by major category measured at fair value on a recurring basis as of December 31, 2018 and 2017 and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value. Investments in certain entities that calculate net asset value per share and other investments that are not held at fair value are provided as separate items to permit reconciliation of the fair value of investments included in the fair value hierarchy to the total amounts presented in the consolidated statements of financial condition. The following tables present assets and liabilities measured at fair value on a recurring basis as of the dates specified (in thousands): December 31, 2018 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Using NAV as Fair Value (a) Other Assets Not Held at Fair Value (b) Total Cash equivalents $ 407,239 $ - $ - $ - $ - $ 407,239 Investments in partnerships - - - 114,449 4,280 118,729 Investments in securities (including GBL stock): Gov't obligations 11,707 - - - - 11,707 Common stocks 205,978 7,161 12 - - 213,151 Mutual funds 1,161 - - - - 1,161 Other 19 464 3,458 - - 3,941 Total investments in securities 218,865 7,625 3,470 - - 229,960 Investments in affiliated registered investment companies: Closed-end funds 85,090 - - - - 85,090 Mutual funds 57,045 - - - - 57,045 Total investments in affiliated registered investment companies 142,135 - - - - 142,135 Total investments 361,000 7,625 3,470 114,449 4,280 490,824 Total assets at fair value $ 768,239 $ 7,625 $ 3,470 $ 114,449 $ 4,280 $ 898,063 Liabilities Common stocks $ 9,485 $ - $ - $ - $ - $ 9,485 Other - 89 - - - 89 Securities sold, not yet purchased $ 9,485 $ 89 $ - $ - $ - $ 9,574 December 31, 2017 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Using NAV as Fair Value (a) Other Assets Not Held at Fair Value (b) Total Cash equivalents $ 290,043 $ - $ - $ - $ - $ 290,043 Investments in partnerships - - - 140,617 4,974 145,591 Investments in securities (including GBL stock): AFS - Common stocks 65,024 - - - - 65,024 AFS - Mutual funds 271 - - - - 271 Trading - Gov't obligations 53,804 - - - - 53,804 Trading - Common stocks 227,938 1 618 - - 228,557 Trading - Mutual funds 3,157 - - - - 3,157 Trading - Other 426 229 1,169 - - 1,824 Total investments in securities 350,620 230 1,787 - - 352,637 Investments in affiliated registered investment companies: AFS - Closed-end funds 66,218 - - - - 66,218 AFS - Mutual funds 4,439 - - - - 4,439 Trading - Closed-end funds 26,929 - - - - 26,929 Trading - Mutual funds 48,328 - - - - 48,328 Total investments in affiliated registered investment companies 145,914 - - - - 145,914 Total investments 496,534 230 1,787 140,617 4,974 644,142 Total assets at fair value $ 786,577 $ 230 $ 1,787 $ 140,617 $ 4,974 $ 934,185 Liabilities Trading - Common stocks $ 5,396 $ - $ - $ - $ - $ 5,396 Trading - Other - 335 - - - 335 Securities sold, not yet purchased $ 5,396 $ 335 $ - $ - $ - $ 5,731 (a) Amounts include certain equity method investments in Investment Partnerships which qualify for investment company specialized accounting. These Investment Partnerships account for their financial assets and liabilities using fair value measures and, therefore, the Company’s investment approximates fair value. At December 31, 2018 and December 31, 2017, investments in these Investment Partnerships were $105,020 and $131,175, respectively. In addition, certain investments in Investment Partnerships were held by a consolidated entity. At December 31, 2018 and December 31, 2017, these amounts were $9,429 and $9,442, respectively. None of these investments have been classified in the fair value hierarchy. (b) Amounts include 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. Investments using NAV as fair value shown in the above tables include investments in Affiliated and Unaffiliated Entities. Capital may generally be redeemed from Affiliated Entities on a monthly basis upon adequate notice as determined in the sole discretion of each entity’s investment manager. Capital invested in Unaffiliated Entities may generally be redeemed at various intervals ranging from monthly to annually upon notice of 30 to 95 days. Certain Unaffiliated Entities may require a minimum investment period before capital can be voluntarily redeemed (a “Lockup Period”). No investment in an Unaffiliated Entity has an unexpired Lockup Period. The Company has no outstanding capital commitments to any Affiliated or Unaffiliated Entity. The following table presents additional information about assets by major category measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Year ended December 31, 2018 Year ended December 31, 2017 Common Stocks Other Total Common Stocks Other Total Beginning balance $ 618 $ 1,169 $ 1,787 $ 461 $ 283 $ 744 Consolidated funds - 984 984 - - - Total gains/(losses) (1 ) (3,489 ) (3,490 ) 193 869 1,062 Purchases - 4,773 4,773 - 167 167 Sales - (32 ) (32 ) - (150 ) (150 ) Transfers (605 ) 53 (552 ) (36 ) - (36 ) Ending balance $ 12 $ 3,458 $ 3,470 $ 618 $ 1,169 $ 1,787 Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to Level 3 assets still held as of the reporting date $ (1 ) $ (3,504 ) $ (3,505 ) $ 184 $ 827 $ 1,011 Total realized and unrealized gains and losses for level 3 assets are reported in net gain/(loss) from investments in the consolidated statements of income. During the years ended December 31, 2018 and 2017, the Company transferred investments with a value of approximately $605,000 and $36,000, respectively, from Level 3 to Level 1. The reclassifications were due to increased availability of market price quotations. During the year ended December 31, 2018, the Company transferred investments with a value of approximately $53,000 from Level 1 to Level 3 due to the unavailability of observable inputs.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2018
Income Taxes [Abstract]
Income Taxes	G. Income Taxes The provision for income taxes for the years ended December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Federal: Current $ 1,223 $ 781 Deferred (11,631 ) (3,137 ) State and local: Current 124 (33 ) Deferred (1,194 ) (31 ) Total $ (11,478 ) $ (2,420 ) A reconciliation of the federal statutory rate to the effective tax rate for the years ended December 31, 2018 and 2017 is set forth below: 2018 2017 Statutory Federal income tax rate 21.0 % 34.0 % State income tax, net of Federal benefit 1.3 (1.3 ) Dividends received deduction 0.4 (8.0 ) Donation of appreciated securities - (21.5 ) Deferred tax asset valuation allowance (1.0 ) - Nondeductible capital losses (4.5 ) - Revaluation of net deferred tax liabilities due to tax reform - (26.5 ) Accelerated vesting of restricted stock awards - (14.5 ) Noncontrolling interests - (0.9 ) Other (0.5 ) 0.1 Effective income tax rate 16.7 % (38.6 %) The TCJA, which was enacted in December 2017, reduced the federal corporate income tax rate from a maximum of 35% to 21% beginning in 2018. As a result, the Company revalued its deferred tax assets and liabilities in December 2017. The income tax provision for the year ended December 31, 2017 reflects a benefit of $1.7 million due to this revaluation. The Company has completed its analysis of the impact of the enactment of the TCJA in 2018 with no material impact on the income tax provision. Significant components of our deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows (in thousands): 2018 2017 Deferred tax assets: Stock-based compensation expense $ 139 $ 19 Investments in securities and partnerships 5,100 - Deferred compensation 2,392 987 Shareholder-designated contribution carryover (a) 1,898 1,765 Other 90 3 9,619 2,774 Deferred tax liabilities: Investments in securities and partnerships - (6,165 ) Other liabilities (197 ) (12 ) (197 ) (6,177 ) Net deferred tax assets/(liabilities) $ 9,422 $ (3,403 ) (a) Net of valuation allowance of $719. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits related to uncertain tax positions is as follows (in thousands): Balance at January 1, 2017 $ 100 Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years (89 ) Settlements - Balance at December 31, 2017 $ 11 Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years (5 ) Settlements - Balance at December 31, 2018 $ 6 The Company records penalties and interest related to tax uncertainties in income taxes. As of December 31, 2018 and 2017, the Company had gross unrecognized tax benefits of $5,688 and $10,923, respectively, of which $4,494 and $8,629, respectively, if recognized, would impact the Company’s effective tax rate. The Company has accrued liabilities of $3,071 and $6,241 as of December 31, 2018 and 2017, respectively, for interest and penalties. These amounts are included in accrued expenses and other liabilities on the consolidated statements of financial condition. The Company is currently under audit by the Internal Revenue Service with respect to its 2016 tax year. The Company is generally subject to federal and state audits for tax years after 2014.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2018
Earnings per Share [Abstract]
Earnings per Share	H. Earnings per Share Basic earnings per share is computed by dividing net income/(loss) 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) 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 (in thousands, except per share data): For the Years Ending December 31, 2018 2017 Basic: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (58,099 ) $ 8,837 Weighted average shares outstanding 23,070 23,792 Basic net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (2.52 ) $ 0.37 Diluted: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (58,099 ) $ 8,837 Weighted average share outstanding 23,070 23,792 Dilutive restricted stock awards - 133 Total 23,070 23,925 Diluted net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (2.52 ) $ 0.37

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	I. Related Party Transactions The following is a summary of certain related party transactions. GGCP, Inc., a private company controlled by the Executive Chairman, indirectly owns a majority of our Class B stock, representing approximately 95% of the combined voting power and 82% of the outstanding shares of our common stock at December 31, 2018. Loans with GAMCO AC received principal repayments on the GAMCO Note totaling $50 million in each of the years ended December 31, 2018 and 2017. The GAMCO Note was fully paid in 2018. Interest income of $0.8 million and $3.0 million paid on the GAMCO Note is included in interest and dividend income on the consolidated statements of income for the years ended December 31, 2018 and 2017, respectively On December 26, 2017, GAMCO issued a promissory note to the Company for $15 million. The note principal and related interest of $40,000 were paid on February 28, 2018. Investments in Securities At December 31, 2018 and 2017, approximately $45 million and $44 million, respectively, of our proprietary investment accounts, which are included in investments in securities on the consolidated statements of financial condition, were managed by analysts or portfolio managers other than the Executive Chairman. The individuals managing these accounts receive 20% of the net profits, if any, earned on the accounts. In August 2006, a son of the Executive Chairman was given responsibility for managing one such proprietary investment account. The balance in the account at December 31, 2018 and 2017 was $18.2 million and $18.0 million, respectively, of which $0.1 million and $3.5 million, respectively, is owed to the portfolio manager representing earnings that have been re-invested in the account. For 2018 and 2017, the performance of this account resulted in compensation of approximately $0.0 million and $0.5 million, respectively, for managing this account. At December 31, 2018 and 2017, the value of the Company’s investment in GAMCO common stock was $50.9 million and $130.3 million, respectively. The Company recorded dividend income of $0.3 million and $0.4 million in 2018 and 2017 from GAMCO which is on the consolidated statements of income. At December 31, 2018 and 2017, the Company invested $398.3 million and $238.1 million, respectively, in the Gabelli U.S. Treasury Money Market Fund, which is recorded in cash and cash equivalents on the consolidated statements of financial condition. Investments in affiliated equity mutual funds advised by Gabelli Funds, LLC, a wholly-owned subsidiary of GAMCO, and Teton Advisors, Inc., an investment advisor controlled by GGCP Holdings, LLC, the majority stockholder of AC, at December 31, 2018 and 2017 totaled $142.4 million and $146.2 million, respectively, and are included in either investments in securities or investments in affiliated registered investment companies on the consolidated statements of financial condition. Investments in Partnerships We had an aggregate investment in affiliated Investment Partnerships of approximately million and $ million at December 31, 2018 and 2017, respectively. Investment Advisory Services Pursuant to a sub-advisory agreement with the Company, Gabelli Funds, LLC pays to GCIA 90% of the net revenues it receives related to investment advisory services provided to GAMCO International SICAV – GAMCO Merger Arbitrage, an investment company incorporated under the laws of Luxembourg (the “SICAV”). For this purpose, net revenues are defined as gross advisory fees less expenses related to payouts and expenses of the SICAV paid by Gabelli Funds, LLC. In connection with these services, GCIA received $3.9 million and $2.8 million during 2018 and 2017, respectively. These payments are included in investment advisory and incentive fees on the consolidated statements of income. As general partner, co-general partner, or investment manager of various affiliated funds, the Company receives a management fee based on a percentage of each fund’s net assets and a 20% incentive allocation or fee based on the fund’s economic profits. Institutional Research Services In 2018 and 2017, the Company earned $3.8 million and $4.5 million, respectively, or 62% and 60%, respectively, of its commission revenue from transactions executed on behalf of Gabelli Funds, LLC and private wealth management clients advised by GAMCO Asset Management Inc., wholly-owned subsidiaries of GAMCO. These commissions are included in institutional research services on the consolidated statements of income. Pursuant to research services agreements, GAMCO Asset Management Inc. paid $1.0 million and $2.2 million and Gabelli Funds, LLC paid $1.0 million and $2.3 million to the Company for the years ended December 31, 2018 and 2017, respectively. The Company participated in three preferred stock offerings of certain GAMCO closed-end funds in 2017. Underwriting fees and selling concessions, net of expenses, related to these offerings amounted to $172,730 and are included in either institutional research services or other revenue on the consolidated statements of income. As required by the Company’s Code of Ethics, staff members are required to maintain their brokerage accounts at G.research unless they receive permission to maintain an outside account. G.research offers its entire staff the opportunity to engage in brokerage transactions at discounted commission rates. Accordingly, many of our staff members, including the executive officers or entities controlled by them, have brokerage accounts at G.research and have engaged in securities transactions at discounted rates. Compensation In accordance with an employment agreement, the Company pays the Executive Chairman, or his designated assignees, a management fee equal to 10% of the Company’s pretax profits before consideration of this fee and before consolidation of Investment Partnerships. In 2017, the Company recorded management fee expense of $0.7 million; there was no management fee expense in 2018. These fees are recorded as management fee on the consolidated statements of income. Affiliated Receivables/Payables At December 31, 2018, the receivable from affiliates consists primarily of sub-advisory fees due from Gabelli Funds, LLC. At December 31, 2017, the receivable from affiliates consists primarily of the $15 million promissory note issued by GAMCO on December 26, 2017. At December 31, 2018 and 2017, the payable to affiliates primarily consisted of expenses paid by affiliates on behalf of the Company. GAMCO Sublease In June 2016, AC entered into a sublease agreement with GBL which is subject to annual renewal. Pursuant to the sublease, AC and its subsidiaries pay a monthly fixed lease amount based on the percentage of square footage occupied by its employees (including pro rata allocation of common space) at GBL’s corporate offices. For the years ended December 31, 2018 and 2017, the Company paid $463,286 and $374,401, respectively, under the sublease agreement. These amounts are included in other operating expenses on the consolidated statements of income. Other Gabelli Securities International Limited, a Bermuda corporation (“GSIL”) was formed in 1994 to provide investment advisory services to offshore funds and accounts. In October 2017, GCIA agreed to purchase 55% of the shares of GSIL that it did not hold from a son of the Executive Chairman, subject to regulatory approvals and other standard closing conditions. In June 2018, the closing conditions were satisfied and consideration of $341,076 was paid. As a result of this transaction, GSIL became a wholly-owned subsidiary of the Company.

Equity

Equity	12 Months Ended
	Dec. 31, 2018
Equity [Abstract]
Equity	J. Equity 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 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. Holders of each share class, however, are not eligible to vote on matters relating exclusively to the other share class. Stock Award and Incentive Plan The Company maintains one stock award and incentive plan (the “Plan”) approved by the shareholders on May 3, 2016, which is designed to provide incentives to 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 million shares of Class A Stock have been reserved for issuance under the Plan by the Compensation Committee of the Board of Directors (the “Compensation Committee”) which is responsible for administering the Plan. Under the Plan, the Compensation 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 it may determine. Through December 31, 2018, approximately 700,000 shares have been awarded under the Plan leaving approximately 1.3 million shares for future grants. On November 30, 2015, in connection with the Spin-off, the Company issued 554,100 AC RSA shares to GAMCO employees (including GAMCO employees who became AC employees) who held 554,100 GAMCO RSA shares at that date. The purpose of the issuance was to ensure that any employee who had GAMCO RSAs were granted an equal number of AC RSAs so that the total value of the RSAs post-spin-off was equivalent to the total value pre-spin-off. In accordance with GAAP, we have allocated the stock compensation costs of both the AC RSAs and the GAMCO RSAs between GAMCO and AC based upon the allocation of each employee’s responsibilities between the companies. During 2017, the vesting of all of the outstanding AC RSAs and all but 19,400 GAMCO RSAs was accelerated, and they are no longer outstanding. Similarly, the vesting of the GAMCO RSAs outstanding as of December 31, 2017 was accelerated in the first quarter of 2018. There were no RSAs issued by AC during the years ended December 31, 2018 or 2017. In August and December 2018, the Company’s Board of Directors approved the grant of 172,800 shares of Phantom Restricted Stock awards (“Phantom RSAs”). Under the terms of the grants, which were effective August 8 and December 31, the Phantom RSAs vest 30% and 70% after three and five years, respectively. The Phantom RSAs will be settled by a cash payment, net of applicable withholding tax, on the vesting dates. In addition, an amount equivalent to the cumulative dividends declared on shares of the Company’s Class A common stock during the vesting period will be paid to participants on vesting. Based on the price of the Company’s stock, the total value of the Phantom RSAs was $6.1 million as of the grant dates. For the years ended December 31, 2018 and 2017, the Company recorded approximately $0.7 million and $5.9 million in stock-based compensation expense, respectively. This expense is included in compensation expense in the consolidated statements of income. The expense for 2017 includes $4.2 million attributable to the acceleration of the AC and GAMCO RSAs. As of December 31, 2018, there were 170,300 Phantom RSAs outstanding. The unrecognized compensation expense related to these was $5.4 million which is expected to be recognized over a weighted-average period of 2.5 years. Stock Repurchase Program In 2018, the Company repurchased 0.2 million shares at an average price of $37.52 per share for a total investment of $7.0 million. In 2017, the Company repurchased 0.6 million shares at an average price of $34.61 per share for a total investment of $21.2 million. Exchange Offers In February 2018, AC completed an exchange offer with respect to its Class A shares. Tendering shareholders received 1.35 GAMCO Class A shares for each AC Class A share, together with cash in lieu of any fractional share. Upon completion of the offer, shareholders tendered 493,954 Class A shares in exchange for 666,805 GAMCO Class A shares with a value of $17.7 million. In October 2018, the Company completed an exchange offer with respect to its Class A shares. Tendering shareholders received 1.9 GAMCO Class A shares for each AC Class A share, together with cash in lieu of any fractional share. Upon completion of the offer, shareholders tendered 373,581 shares in exchange for 709,749 GAMCO shares with a value of approximately $14.6 million. Dividends During 2018, the Company declared dividends of $0.20 per share to class A and class B shareholders totaling $4.6 million, of which $2.3 million is payable on January 9, 2019 and is included in accrued expenses and other liabilities on the consolidated statement of financial condition as of December 31, 2018 During 2017, the Company declared dividends of $0.20 per share to class A and class B shareholders totaling $4.8 million, of which $2.4 million was paid on January 10, 2018 and is included in accrued expenses and other liabilities on the consolidated statements of financial condition as of December 31, 2017

Retirement Plan

Retirement Plan	12 Months Ended
	Dec. 31, 2018
Retirement Plan [Abstract]
Retirement Plan	K. Retirement Plan The Company participates in an incentive savings plan (the “Savings Plan”) covering substantially all employees. Company contributions to the Savings Plan are determined annually by management of the Company but may not exceed the amount permitted as a deductible expense under the Internal Revenue Code of 1986, as amended. The expense for contributions to the Savings Plan was approximately $11,000 and $49,000 in 2018 and 2017, respectively, and is included in compensation on the consolidated statements of income.

Guarantees, Contingencies, and

Guarantees, Contingencies, and Commitments	12 Months Ended
	Dec. 31, 2018
Guarantees, Contingencies, and Commitments [Abstract]
Guarantees, Contingencies, and Commitments	L. Guarantees, Contingencies, and Commitments 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. We are 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 losses exist which may be reasonably possible and will, if material, make the necessary disclosures. Management believes, however, that such amounts, both those that are probable and those that are reasonably possible, are not material to the Company’s financial condition, results of operations or cash flows at December 31, 2018. G.research has agreed to indemnify clearing brokers for losses they may sustain from customer accounts introduced by G.research that trade on margin. At each of December 31, 2018 and 2017, the total amount of customer balances subject to indemnification (i.e., unsecured margin debits) was immaterial. The Company has also 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, and, therefore, no accrual has been made on the consolidated financial statements.

Net Capital Requirements

Net Capital Requirements	12 Months Ended
	Dec. 31, 2018
Net Capital Requirements [Abstract]
Net Capital Requirements	M. Net Capital Requirements G.research is registered with the SEC as a broker-dealer and is regulated by FINRA. As such, G.research is subject to the minimum net capital requirements promulgated by the SEC. G.research computes its net capital under the alternative method permitted by the SEC, which results in required minimum net capital of $250,000. As of December 31, 2018, and 2017, G.research had net capital, as defined, of approximately $9.1 million and $41.8 million, respectively, exceeding the regulatory requirement by approximately $8.8 million and $41.6 million, respectively. Net capital requirements for G.research may increase in accordance with rules and regulations to the extent it engages in other business activities.

Shareholder-Designated Contribu

Shareholder-Designated Contribution Plan	12 Months Ended
	Dec. 31, 2018
Shareholder-Designated Contribution Plan [Abstract]
Shareholder-Designated Contribution Plan	N. Shareholder-Designated Contribution Plan The Company has established a Shareholder Designated Charitable Contribution program. Under the program, from time to time 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. The Company recorded an expense of $3.3 million and $4.2 million related to this program for the years ended December 31, 2018 and 2017, respectively, which is included in shareholder-designated contribution in the consolidated statements of income. As of December 31, 2018, the Company has reflected a liability in the amount of $3.3 million in connection with this program which is included in accrued expenses and other liabilities on the consolidated statement of financial condition.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	O. Subsequent Events Effective February 1, 2019, G.research amended its existing research service agreements with GAMCO Asset Management Inc. and Gabelli Funds, LLC, to provide for monthly research services fees in the amount of $62,500 from each of these entities. The amended agreements are subject to immediate cancellation by either party upon written notice.

Organization (Policies)

Organization (Policies)	12 Months Ended
	Dec. 31, 2018
Organization [Abstract]
Spin-off and Related Transactions	The Spin-off and Related Transactions We are a Delaware corporation that provides alternative investment management, institutional research and underwriting services. In addition, we derive investment income/(loss) from proprietary trading of cash and other assets awaiting deployment in our operating business. On November 30, 2015, GAMCO Investors, Inc. (“GAMCO” or “GBL”) distributed all the outstanding shares of each class of AC common stock on a pro rata one-for-one basis to the holders of each class of GAMCO’s common stock (the “Spin-off”). We conduct our investment management activities through Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). GCIA and its wholly-owned subsidiary, Gabelli & Partners, LLC (“Gabelli & Partners”), collectively serve as general partners or investment managers to investment funds including limited partnerships and offshore companies (collectively, “Investment Partnerships”), and separate accounts. We primarily manage assets in equity event-driven value strategies, across a range of risk and event arbitrage portfolios. The business earns management and incentive fees from its advisory activities. Management fees are largely based on a percentage of assets under management. Incentive fees are based on the percentage of the investment returns of certain clients’ portfolios. GCIA is an investment adviser registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940, as amended. We provide our institutional research and underwriting services through G.research, LLC (“G.research”), an indirect 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”) and is regulated by the Financial Industry Regulatory Authority (“FINRA”). G.research's revenues are derived primarily from institutional research services. In connection with the Spin-off, GAMCO issued a promissory note (the “GAMCO Note”) to AC Group in the original principal amount of $250 million used to partially capitalize the Company. During the year ended December 31, 2018, AC received principal repayments totaling $50 million on the GAMCO Note which fully satisfied the outstanding principal balance. The GAMCO Note bore interest at 4% per annum and had an original maturity date of November 30, 2020. In addition, GCIA acquired 4,393,055 shares of GAMCO Class A common stock for $150 million in connection with the Spin-off.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Significant Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents primarily consist of an affiliated money market mutual fund which is highly liquid. U.S. Treasury Bills and Notes with maturities of three months or less at the time of purchase are also considered cash equivalents.
Investments in Securities	Investments in Securities Investments in securities are accounted for at fair market value as of each balance sheet date. As a result of recent changes to accounting standards, beginning in 2018, any realized or unrealized gains or losses on equity securities are reported in current period earnings in net gain/(loss) from investments on the consolidated statements of income. Prior to 2018, such investments were classified as either trading securities or available for sale (“AFS”) securities. Management determined the appropriate classification of debt and equity securities at the time of purchase and reevaluated such designations as of each balance sheet date. A substantial portion of such investments were held for resale in anticipation of short-term market movements and, therefore, were classified as trading securities. Any realized or unrealized gains or losses from trading securities were reported in current period earnings in net gain/(loss) from investments on the consolidated statements of income. Any unrealized gains or losses, net of taxes, on AFS securities were reported as a component of other comprehensive income/(loss) on the consolidated statements of comprehensive income/(loss) except for losses deemed to be other than temporary which were recorded as realized losses on the consolidated statements of income. U.S. Treasury Bills and Notes with maturities of greater than three months at the time of purchase are considered investments in securities. Securities that are not readily marketable are stated at their estimated fair values in accordance with GAAP. Securities transactions and any related gains and losses are recorded on a trade date basis. The Company determines the cost of a security sold by using specific identification. Securities sold, but not yet purchased are recorded on the trade date, and are stated at fair value and represent obligations of AC to purchase the securities at prevailing market prices. Therefore, the future satisfaction of such obligations may be for an amount greater or less than the amounts recorded on the consolidated statements of financial condition. The ultimate gains or losses recognized are dependent upon the prices at which these securities are purchased to settle the obligations under the sales commitments. Unrealized gains and losses and realized gains and losses from covers of securities sold, not yet purchased transactions are included in net gain/(loss) from investments on the consolidated statements of income.
Fair Values of Financial Instruments	Fair Value of Financial Instruments All of the instruments in investments in securities are measured at fair value. The Company’s assets and liabilities recorded at fair value have been categorized based upon a fair value hierarchy in accordance with the Financial Accounting Standards Board’s (“FASB”) guidance on fair value measurement. The levels of the fair value hierarchy and their applicability to the Company are described below: · Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities at the reporting date. Level 1 assets include cash equivalents, government obligations, open-end mutual funds, closed-end funds and equities. · Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets or liabilities that are not active and inputs other than quoted prices that are observable for the asset or liability such as interest rates and yield curves that are observable at commonly-quoted intervals. Assets included in this category are over-the-counter derivatives that have valuation inputs that can generally be corroborated by observable market data. · Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. Assets in this category generally include equities that trade infrequently and direct private equity investments. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy in which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The availability of observable inputs can vary from instrument to instrument and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new and not yet established in the marketplace, and other characteristics particular to the instrument. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized as Level 3. In the absence of a closing price, an average of the bid and ask price is used. Bid prices reflect the highest price that market participants are willing to pay for an asset. Ask prices represent the lowest price that market participants are willing to accept for an asset. Cash equivalents Investments in securities Investments in partnerships —T
Receivables from Affiliates and Payables to Affiliates	Receivables from Affiliates and Payables to Affiliates Receivables from affiliates consist primarily of sub-advisory fees due from Gabelli Funds, LLC
Receivables from and Payables to Brokers	Receivables from and Payables to Brokers Receivables from and payables to brokers consist of amounts related to purchases and sales of securities as well as cash amounts held in anticipation of investment.
Consolidation	Consolidation The Company assesses all entities with which it is involved for consolidation on a case by case basis depending on the specific facts and circumstances surrounding each entity. Pursuant to applicable guidance, the Company first evaluates whether it holds a variable interest in an entity. The Company considers all economic interests including proportionate interests through related parties, to determine if such interests are considered a variable interest. Fees paid to the Company that are customary and commensurate with the level of services provided from entities in which the Company does not hold other economic interests in the entity are not considered as a variable interest. For any entity where the Company has determined that it holds a variable interest, the Company performs an assessment to determine whether it qualifies as a variable interest entity (“VIE”). The granting of substantive kick-out rights is a key consideration in determining whether a limited partnership or similar entity is a VIE and whether or not that entity should be consolidated. The Company does not consolidate those VIEs in which substantive kick-out rights have been granted to the unaffiliated investors to either dissolve the fund or remove the general partner. Under the variable interest entity model, the Company consolidates those entities where it is determined that the Company is the primary beneficiary of the entity. The Company is determined to be the primary beneficiary when it has a controlling financial interest in the VIE, which is defined as possessing both (i) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and (ii) the obligation to absorb losses of the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. When the Company alone is not considered to have a controlling financial interest in the VIE but the Company and its related parties under common control in the aggregate have a controlling financial interest in the VIE, the Company will be deemed the primary beneficiary if it is the party that is most closely associated with the VIE. When the Company and its related parties not under common control in the aggregate have a controlling financial interest in the VIE, the Company would be deemed to be the primary beneficiary if substantially all the activities of the entity are performed on behalf of the Company. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion as required. Investments and redemptions (either by the Company, related parties or third parties) or amendments to the governing documents of the respective entity may affect an entity’s status as a VIE or the determination of the primary beneficiary. Entities that do not qualify as VIEs are assessed for consolidation as voting interest entities ("VOEs") under the voting interest model. Under the voting interest model, the Company consolidates those entities it controls through a majority voting interest or other means. Equity Method Investments. See Note E, Investments in Partnerships and Variable Interest Entities, for more information.
Investments in Partnerships and Affiliates	Investments in Partnerships and Affiliates The Company is general partner or co-general partner of various affiliated entities. We also have investments in unaffiliated partnerships, offshore funds and other entities (collectively, “unaffiliated entities”). Given that we are not a general partner or investment manager in any unaffiliated entity, we neither earn any management or incentive fees nor have a controlling financial interest in such entity. We do not consolidate any unaffiliated entity. The balance sheet caption investments in partnerships includes investments in both affiliated and unaffiliated entities. The Company records noncontrolling interests in consolidated entities for which the Company’s ownership is less than 100%. Refer to Noncontrolling Interests below for additional information.
Derivative Financial Instruments	Derivative Financial Instruments The Company recognizes all derivatives as either assets or liabilities measured at fair value and includes such derivatives in either investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. From time to time, the Company will enter into hedging transactions to manage its exposure to foreign currencies or equity prices related to its proprietary investments. Except for a foreign exchange contract entered into by the Company, these transactions are not designated as hedges for accounting purposes, and changes in fair values of these derivatives are included in net gain/(loss) from investments on the consolidated statements of income and included in investments in securities or securities sold, not yet purchased on the consolidated statements of financial condition. See Note D, Investments in Securities, for additional information.
Major Revenue-Generating Services and Revenue Recognition	Major Revenue-Generating Services and Revenue Recognition The Company’s revenues are derived primarily from investment advisory and incentive fees and institutional research services. Investment advisory and incentive fees are directly influenced by the level and mix of AUM as fees are derived from a contractually-determined percentage of the balance of each account as well as a percentage of the investment performance of certain accounts. Management fees from investment partnerships and offshore funds are computed either monthly or quarterly, and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. These revenues vary depending upon the level of capital flows, financial market conditions, investment performance and the fee rates applicable to each account. Incentive allocations or fees are generally recognized at the end of an annual measurement period and amounts receivable are included in investment advisory fees receivable on the consolidated statements of financial condition. G.research, LLC provides institutional research services and earns brokerage commissions and sales manager fees from securities transactions executed on an agency basis on behalf of institutional clients and mutual funds, private wealth management clients and retail customers of affiliated companies. Commission revenue and related clearing charges are recorded on a trade-date basis and are included in institutional research services and other operating expenses, respectively, on the consolidated statements of income. It has also been involved in syndicated underwriting activities that included public equity and debt offerings managed by major investment banks. Underwriting fees include gains, losses, selling concessions and fees, net of syndicate expenses, arising from securities offerings in which G.research acts as underwriter or agent and are accrued as earned. See Note C, Revenue, for additional information.
Depreciation	Depreciation Fixed assets are recorded at cost and depreciated using the straight-line method over their estimated useful lives of four to seven years. As of December 31, 2018 and 2017, fixed assets with a net book value of $84,000 and $39,000, respectively, are included in other assets on the consolidated statements of financial condition.
Allocated Expenses	Allocated Expenses The Company is charged or incurs certain overhead expenses that are paid by, or paid on our behalf by, other affiliates and are included in other operating expenses on the consolidated statements of income. These overhead expenses primarily relate to centralized functions including finance and accounting, legal, compliance, treasury, tax, internal audit, information technology, human resources and risk management. These overhead expenses are allocated to the Company by other affiliates or allocated by the Company to other affiliates as the expenses are incurred, based upon direct usage when identifiable, or by revenue, headcount, space or other allocation methodologies periodically reviewed by the management of the Company and the affiliates. In addition, GCIA and GAMCO serve as paymasters under compensation payment sharing agreements. The compensation expense and related payroll taxes and benefits of certain dual employees that provide services to both AC and affiliates that are paid for by GCIA or GAMCO are allocated between the companies based upon the relative time each employee devotes to each affiliate. These allocated compensation expenses are included in compensation on the consolidated statements of income. All of the allocations and estimates in the financial statements are based on assumptions that management of AC believes are reasonable. However, these allocations may not be indicative of the actual expenses we would have incurred or may incur in the future.
Management Fee	Management Fee Management fee expense in the amount of 10% of the aggregate pre-tax profits, before consideration of this fee and before consideration of the income attributable to consolidated funds and partnerships, is paid to the Executive Chairman or his designees in accordance with his employment agreement.
Stock Based Compensation	Stock-Based Compensation We use a fair value-based method of accounting for restricted stock awards (“RSAs”) provided to our employees. The estimated fair value of RSAs is determined by using the closing price of the relevant stock on the day prior to the grant date. The value of the RSAs, net of estimated forfeitures, is recognized as expense over the respective vesting period for these awards. The forfeiture rate is determined by reviewing historical forfeiture rates for previous stock-based compensation grants and is reviewed and updated quarterly, if necessary. 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. In connection with the spin-off of the Company from GAMCO, any GAMCO employee (including GAMCO employees who became AC employees) who had GAMCO RSAs were granted an equal number of AC RSAs so that the total value of the RSAs post-spin was equivalent to the total value pre-spin. In accordance with GAAP, we have allocated the related stock compensation costs of the AC RSAs and the GAMCO RSAs between GAMCO and AC based upon each employee’s individual allocation of their responsibilities between the two companies. During 2018, the Company’s Board of Directors approved the grant of Phantom Restricted Stock awards (“Phantom RSAs”). The Phantom RSAs will be settled by a cash payment, net of applicable withholding tax, on the vesting dates. In addition, an amount equivalent to the cumulative dividends declared on shares of the Company’s Class A common stock during the vesting period will be paid to participants on vesting. The Phantom RSAs are accounted for as a liability because cash settlement is required and compensation will be recognized over the vesting period. In determining the compensation expense to be recognized each period, the Company will remeasure the fair value of the liability at each reporting date taking into account the remaining vesting period attributable to each award and the current market value of the Company’s Class A stock. In making these determinations, the Company will consider the impact of Phantom RSAs that have been forfeited prior to vesting (e.g., due to an employee termination). The Company has elected to consider forfeitures as they occur. The expense attributable to the Phantom RSAs is allocated solely to AC.
Goodwill	Goodwill Goodwill is initially measured as the excess of the cost of an acquired business over the sum of the fair value assigned to assets acquired less the liabilities assumed. Goodwill is tested for impairment at least annually on November 30th and whenever certain triggering events are met. In assessing the recoverability of goodwill as of November 30, 2018 and 2017, we performed a qualitative assessment of whether it was more likely than not that an impairment had occurred and concluded that a quantitative analysis was not required. As such, no impairment was recorded during 2018 or 2017.
Income Taxes	Income Taxes For purposes of the preparation of the consolidated financial statements, the provision for income taxes is computed using the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income tax expense/benefit in the period that includes the enactment date of the change in tax rate. The Company records net deferred tax assets to the extent the Company believes these assets will more likely than not be realized. A valuation allowance would be recorded to reduce the carrying value of deferred tax assets to the amount that is more likely than not to be realized. In making such a determination of whether a valuation allowance is necessary, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. In the event the Company were to determine that the Company would be able to realize the Company’s deferred income tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company records uncertain tax positions in accordance with Accounting Standards Codification (“ASC”) Topic 740. The Company first determines whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position. For those tax positions that meet the more-likely-than-not recognition threshold, the Company recognizes the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes the accrual of interest on uncertain tax positions and penalties in income tax provision on the consolidated statements of income. Accrued interest and penalties on uncertain tax positions are included within accrued expenses and other liabilities on the consolidated statements of financial condition.
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests in investment partnerships that are redeemable at the option of the holder are classified as redeemable noncontrolling interests in the mezzanine section of the consolidated statements of financial condition between liabilities and equity. For the years ended December 31, 2018 and 2017, net income/(loss) attributable to noncontrolling interests on the consolidated statements of income represents the share of net income/(loss) attributable to third-party investors in consolidated funds.
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and receivable from brokers. The Company maintains cash and cash equivalents primarily in the Gabelli U.S. Treasury Money Market Fund, which invests fully in instruments issued by the U.S. government. Receivables from brokers and financial institutions can exceed the federally insured limit. The concentration of credit risk with respect to advisory fees and incentive fees/allocation, which are included in investment advisory fees receivable and receivables from affiliates on the consolidated statements of financial condition, is generally limited due to the short payment terms extended to clients by the Company. All investments in securities are held at third party brokers or custodians.
Business Segment	Business Segment The Company operates in one business segment. The Company’s chief operating decision maker reviews the Company’s financial performance at an aggregate level.
Recent Accounting Developments	Recent Accounting Developments In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers Revenue Recognition In January 2016, the FASB issued ASU 2016-01, Financial Instruments–Overall: Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other On May 10, 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation On December 22, 2017, the SEC issued SAB 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act Income Taxes In February 2018, the FASB issued ASU 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue [Abstract]
Revenues by Type	Total revenues by type were as follows for the year ended December 31, 2018 (in thousands): Investment advisory and incentive fees Asset-based advisory fees $ 7,384 Performance-based advisory fees 3,115 Sub-advisory fees 3,910 14,409 Institutional research services Hard dollar payments 2,835 Commissions 5,349 Selling concessions 84 Sales manager fees 16 8,284 Other Underwriting fees 19 Miscellaneous 67 86 Total $ 22,779

Investments in Securities (Tabl

Investments in Securities (Tables)	12 Months Ended
	Dec. 31, 2018
Investments in Securities [Abstract]
Investments in Securities	Investments in securities at December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Cost Fair Value Cost Fair Value Securities: Government obligations $ 11,694 $ 11,707 $ 53,681 $ 53,804 Common stocks 244,557 213,151 209,686 228,557 Mutual funds 761 1,161 1,959 3,157 Other investments 5,285 3,941 825 1,824 262,297 229,960 266,151 287,342 Available for sale securities: Common stocks - - 65,331 65,024 Mutual funds - - 103 271 - - 65,434 65,295 Total investments in securities $ 262,297 $ 229,960 $ 331,585 $ 352,637
Securities Sold, Not Yet Purchased	Securities sold, not yet purchased at December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Proceeds Fair Value Proceeds Fair Value Equity securities: Common stocks $ 10,150 $ 9,485 $ 4,862 $ 5,396 Other investments - 89 1 335 Total securities sold, not yet purchased $ 10,150 $ 9,574 $ 4,863 $ 5,731
Investments in Affiliated Registered Investment Companies	Investments in affiliated registered investment companies at December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Cost Fair Value Cost Fair Value Equity securities: Closed-end funds $ 73,950 $ 85,090 $ 26,231 $ 26,929 Mutual funds 49,714 57,045 41,950 48,328 123,664 142,135 68,181 75,257 Available for sale securities: Closed-end funds - - 53,782 66,218 Mutual funds - - 3,420 4,439 - - 57,202 70,657 Total investments in affiliated registered investment companies $ 123,664 $ 142,135 $ 125,383 $ 145,914
Reclassifications Out of Accumulated Other Comprehensive Loss	The following table identifies all reclassifications between accumulated other comprehensive income (“AOCI”) and net income/(loss) for the years ended December 31, 2018 and 2017 (in thousands): Year ended December 31, 2018 2017 Affected Line Item Reason for Reclassification $ - $ 167 Net gain (loss) from investments Realized gains on sale of AFS securities - 11,788 Net gain (loss) from investments Gains on transfer of AFS securities to affiliated broker-dealer - (19,201 ) Net gain (loss) from investments Other than temporary impairment of AFS securities - (7,246 ) Income (loss) before income taxes - 2,599 Income tax benefit $ - $ (4,647 ) Net income (loss)
Fair Values and Gains and Losses of All Derivatives and Foreign Currency Positions	The following tables identify the fair values and gains and losses of all derivatives and foreign currency positions held by the Company (in thousands): Asset Derivatives Liability Derivatives Statement of Fair Value Statement of Fair Value Financial Condition Location December 31, 2018 December 31, 2017 Financial Condition Location December 31, 2018 December 31, 2017 Derivatives designated as hedging instruments under FASB ASC 815-20 Foreign exchange contracts Receivable from brokers $ 204 $ - Payable to brokers $ - $ - Derivatives not designated as hedging instruments under FASB ASC 815-20 Equity contracts Investments in securities $ 464 $ 229 Securities sold, not yet purchased $ 89 $ 335 Total $ 668 $ 229 $ 89 $ 335
Derivative Instruments, Gain (Loss)	Year ended December 31, Type of Derivative Income Statement Location 2018 2017 Foreign exchange contracts Net gain/(loss) from investments $ 204 $ - Equity contracts Net gain/(loss) from investments 4,774 (98 ) Total $ 4,978 $ (98 )
Master Netting Arrangements for Swaps	The Company is a party to enforceable master netting arrangements for swaps entered into with major U.S. financial institutions as part of its investment strategy. They are typically not used as hedging instruments. These swaps, while settled on a net basis with the counterparties, are shown gross in assets and liabilities on the consolidated statements of financial condition. The swaps have a firm contract end date and are closed out and settled when each contract expires. Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Assets Gross Amounts Offset in the Statements of Financial Condition Net Amounts of Assets Presented in the Statements of Financial Condition Financial Instruments Cash Collateral Received Net Amount Swaps: (In thousands) December 31, 2018 $ 416 $ - $ 416 $ (89 ) $ - $ 327 December 31, 2017 $ 229 $ - $ 229 $ (229 ) $ - $ - Gross Amounts Not Offset in the Statements of Financial Condition Gross Amounts of Recognized Liabilities Gross Amounts Offset in the Statements of Financial Condition Net Amounts of Liabilities Presented in the Statements of Financial Condition Financial Instruments Cash Collateral Pledged Net Amount Swaps: (In thousands) December 31, 2018 $ 89 $ - $ 89 $ (89 ) $ - $ - December 31, 2017 $ 334 $ - $ 334 $ (229 ) $ - $ 105
Available-for-Sale Securities	The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of AFS securities as of December 31, 2017 (in thousands): Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Common stocks $ 65,331 $ - $ (307 ) $ 65,024 Closed-end Funds 53,782 12,436 - 66,218 Mutual funds 3,523 1,187 - 4,710 Total $ 122,636 $ 13,623 $ (307 ) $ 135,952
Investments Classified as Available for Sale in Unrealized Loss Position	Investments classified as AFS that were in an unrealized loss position for which OTT impairment had not been recognized as of December 31, 2017 consisted of the following (in thousands): Cost Unrealized Losses Fair Value Common Stocks $ 65,331 $ (307 ) $ 65,024 Total $ 65,331 $ (307 ) $ 65,024

Investment Partnerships and V_2

Investment Partnerships and Variable Interest Entities (Tables)	12 Months Ended
	Dec. 31, 2018
Investment Partnerships and Variable Interest Entities [Abstract]
Number of Entities Consolidated	The following table highlights the number of entities that we consolidate as well as the basis under which they are consolidated: VIEs VOEs Entities consolidated at December 31, 2016 1 1 Additional consolidated entities - 2 Deconsolidated entities - - Entities consolidated at December 31, 2017 1 3 Additional consolidated entities - 2 Deconsolidated entities - - Entities consolidated at December 31, 2018 1 5
Condensed Consolidated Statements of Financial Condition by Entity Consolidated	The following table reflects the net impact of the consolidated entities on the consolidated statements of financial condition (in thousands): December 31, 2018 Prior to Consolidation Consolidated Entities As Reported Assets Cash and cash equivalents $ 396,074 $ 13,490 $ 409,564 Investments in securities (including GBL stock) 131,764 98,196 229,960 Investments in affiliated investment companies 193,006 (50,871 ) 142,135 Investments in partnerships 138,119 (19,390 ) 118,729 Receivable from brokers 7,998 16,631 24,629 Investment advisory fees receivable 4,427 (33 ) 4,394 Other assets 24,551 471 25,022 Total assets $ 895,939 $ 58,494 $ 954,433 Liabilities and equity Securities sold, not yet purchased $ 4,631 $ 4,943 $ 9,574 Accrued expenses and other liabilities 25,060 3,751 28,811 Redeemable noncontrolling interests - 49,800 49,800 Total equity 866,248 - 866,248 Total liabilities and equity $ 895,939 $ 58,494 $ 954,433 December 31, 2017 Prior to Consolidation Consolidated Entities As Reported Assets Cash and cash equivalents $ 287,963 $ 5,149 $ 293,112 Investments in securities (including GBL stock) 255,252 97,385 352,637 Investments in affiliated investment companies 198,469 (52,555 ) 145,914 Investments in partnerships 160,456 (14,865 ) 145,591 Receivable from brokers 11,722 23,159 34,881 Investment advisory fees receivable 5,749 (10 ) 5,739 Other assets 28,865 176 29,041 Total assets $ 948,476 $ 58,439 $ 1,006,915 Liabilities and equity Securities sold, not yet purchased $ 5,405 $ 326 $ 5,731 Accrued expenses and other liabilities 24,924 11,883 36,807 Redeemable noncontrolling interests - 46,230 46,230 Total equity 918,147 - 918,147 Total liabilities and equity $ 948,476 $ 58,439 $ 1,006,915
Condensed Consolidated Statements of Income by Entity Consolidated	The following table reflects the net impact of the consolidated entities on the consolidated statements of income (in thousands): Year Ended December 31, 2018 Prior to Consolidation Consolidated Entities As Reported Total revenues $ 22,855 $ (76 ) $ 22,779 Total expenses 34,413 1,846 36,259 Operating loss (11,558 ) (1,922 ) (13,480 ) Total other income/(expense), net (58,019 ) 2,638 (55,381 ) Income/(loss) before income taxes (69,577 ) 716 (68,861 ) Income tax benefit (11,478 ) - (11,478 ) Net income/(loss) before NCI (58,099 ) 716 (57,383 ) Net income attributable to noncontrolling interests - 716 716 Net loss $ (58,099 ) $ - $ (58,099 ) Year Ended December 31, 2017 Prior to Consolidation Consolidated Entities As Reported Total revenues $ 26,962 $ (47 ) $ 26,915 Total expenses 45,595 1,706 47,301 Operating loss (18,633 ) (1,753 ) (20,386 ) Total other income, net 25,050 1,600 26,650 Income/(loss) before income taxes 6,417 (153 ) 6,264 Income tax benefit (2,420 ) - (2,420 ) Net income/(loss) before NCI 8,837 (153 ) 8,684 Net loss attributable to noncontrolling interests - (153 ) (153 ) Net income $ 8,837 $ - $ 8,837
AC's Net Interest in Consolidated VIEs	The following table presents the balances related to VIEs that are consolidated and included on the consolidated statements of financial condition as well as the Company’s net interest in these VIEs (in thousands): December 31, 2018 December 31, 2017 Cash and cash equivalents $ 2,560 $ 120 Investments in securities 7,253 8,757 Receivable from broker 553 1,657 Other assets (11 ) (19 ) Accrued expenses and other liabilities (31 ) (29 ) Redeemable noncontrolling interests (419 ) (284 ) AC's net interests in consolidated VIE $ 9,905 $ 10,202
Summarized Financial Information of Aggregate Equity Method Investments	The summarized financial information of the Company’s equity method investments as of and for the years ended December 31, 2018 and 2017 are as follows (in millions): December 31, 2018 December 31, 2017 Total assets $ 1,549 $ 1,600 Total liabilities 260 322 Total equity 1,289 1,278 For the year 2018 2017 Net income/(loss) (12 ) 112

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2018
Fair Value [Abstract]
Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present assets and liabilities measured at fair value on a recurring basis as of the dates specified (in thousands): December 31, 2018 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Using NAV as Fair Value (a) Other Assets Not Held at Fair Value (b) Total Cash equivalents $ 407,239 $ - $ - $ - $ - $ 407,239 Investments in partnerships - - - 114,449 4,280 118,729 Investments in securities (including GBL stock): Gov't obligations 11,707 - - - - 11,707 Common stocks 205,978 7,161 12 - - 213,151 Mutual funds 1,161 - - - - 1,161 Other 19 464 3,458 - - 3,941 Total investments in securities 218,865 7,625 3,470 - - 229,960 Investments in affiliated registered investment companies: Closed-end funds 85,090 - - - - 85,090 Mutual funds 57,045 - - - - 57,045 Total investments in affiliated registered investment companies 142,135 - - - - 142,135 Total investments 361,000 7,625 3,470 114,449 4,280 490,824 Total assets at fair value $ 768,239 $ 7,625 $ 3,470 $ 114,449 $ 4,280 $ 898,063 Liabilities Common stocks $ 9,485 $ - $ - $ - $ - $ 9,485 Other - 89 - - - 89 Securities sold, not yet purchased $ 9,485 $ 89 $ - $ - $ - $ 9,574 December 31, 2017 Assets Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Investments Using NAV as Fair Value (a) Other Assets Not Held at Fair Value (b) Total Cash equivalents $ 290,043 $ - $ - $ - $ - $ 290,043 Investments in partnerships - - - 140,617 4,974 145,591 Investments in securities (including GBL stock): AFS - Common stocks 65,024 - - - - 65,024 AFS - Mutual funds 271 - - - - 271 Trading - Gov't obligations 53,804 - - - - 53,804 Trading - Common stocks 227,938 1 618 - - 228,557 Trading - Mutual funds 3,157 - - - - 3,157 Trading - Other 426 229 1,169 - - 1,824 Total investments in securities 350,620 230 1,787 - - 352,637 Investments in affiliated registered investment companies: AFS - Closed-end funds 66,218 - - - - 66,218 AFS - Mutual funds 4,439 - - - - 4,439 Trading - Closed-end funds 26,929 - - - - 26,929 Trading - Mutual funds 48,328 - - - - 48,328 Total investments in affiliated registered investment companies 145,914 - - - - 145,914 Total investments 496,534 230 1,787 140,617 4,974 644,142 Total assets at fair value $ 786,577 $ 230 $ 1,787 $ 140,617 $ 4,974 $ 934,185 Liabilities Trading - Common stocks $ 5,396 $ - $ - $ - $ - $ 5,396 Trading - Other - 335 - - - 335 Securities sold, not yet purchased $ 5,396 $ 335 $ - $ - $ - $ 5,731 (a) Amounts include certain equity method investments in Investment Partnerships which qualify for investment company specialized accounting. These Investment Partnerships account for their financial assets and liabilities using fair value measures and, therefore, the Company’s investment approximates fair value. At December 31, 2018 and December 31, 2017, investments in these Investment Partnerships were $105,020 and $131,175, respectively. In addition, certain investments in Investment Partnerships were held by a consolidated entity. At December 31, 2018 and December 31, 2017, these amounts were $9,429 and $9,442, respectively. None of these investments have been classified in the fair value hierarchy. (b) Amounts include certain equity method investments which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees do not account for both their financial assets and liabilities under fair value measures; therefore, the Company’s investment in such equity method investees may not represent fair value.
Changes in Level 3 Assets and Liabilities	The following table presents additional information about assets by major category measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Year ended December 31, 2018 Year ended December 31, 2017 Common Stocks Other Total Common Stocks Other Total Beginning balance $ 618 $ 1,169 $ 1,787 $ 461 $ 283 $ 744 Consolidated funds - 984 984 - - - Total gains/(losses) (1 ) (3,489 ) (3,490 ) 193 869 1,062 Purchases - 4,773 4,773 - 167 167 Sales - (32 ) (32 ) - (150 ) (150 ) Transfers (605 ) 53 (552 ) (36 ) - (36 ) Ending balance $ 12 $ 3,458 $ 3,470 $ 618 $ 1,169 $ 1,787 Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to Level 3 assets still held as of the reporting date $ (1 ) $ (3,504 ) $ (3,505 ) $ 184 $ 827 $ 1,011

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income Taxes [Abstract]
Provision for Income Taxes	The provision for income taxes for the years ended December 31, 2018 and 2017 consisted of the following (in thousands): 2018 2017 Federal: Current $ 1,223 $ 781 Deferred (11,631 ) (3,137 ) State and local: Current 124 (33 ) Deferred (1,194 ) (31 ) Total $ (11,478 ) $ (2,420 )
Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate	A reconciliation of the federal statutory rate to the effective tax rate for the years ended December 31, 2018 and 2017 is set forth below: 2018 2017 Statutory Federal income tax rate 21.0 % 34.0 % State income tax, net of Federal benefit 1.3 (1.3 ) Dividends received deduction 0.4 (8.0 ) Donation of appreciated securities - (21.5 ) Deferred tax asset valuation allowance (1.0 ) - Nondeductible capital losses (4.5 ) - Revaluation of net deferred tax liabilities due to tax reform - (26.5 ) Accelerated vesting of restricted stock awards - (14.5 ) Noncontrolling interests - (0.9 ) Other (0.5 ) 0.1 Effective income tax rate 16.7 % (38.6 %)
Significant Components of Deferred Tax Assets and Liabilities	Significant components of our deferred tax assets and liabilities as of December 31, 2018 and 2017 are as follows (in thousands): 2018 2017 Deferred tax assets: Stock-based compensation expense $ 139 $ 19 Investments in securities and partnerships 5,100 - Deferred compensation 2,392 987 Shareholder-designated contribution carryover (a) 1,898 1,765 Other 90 3 9,619 2,774 Deferred tax liabilities: Investments in securities and partnerships - (6,165 ) Other liabilities (197 ) (12 ) (197 ) (6,177 ) Net deferred tax assets/(liabilities) $ 9,422 $ (3,403 ) (a) Net of valuation allowance of $719.
Reconciliation of Gross Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits related to uncertain tax positions is as follows (in thousands): Balance at January 1, 2017 $ 100 Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years (89 ) Settlements - Balance at December 31, 2017 $ 11 Additions based on tax positions related to the current year - Additions for tax positions of prior years - Reductions for tax positions of prior years (5 ) Settlements - Balance at December 31, 2018 $ 6

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2018
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 (in thousands, except per share data): For the Years Ending December 31, 2018 2017 Basic: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (58,099 ) $ 8,837 Weighted average shares outstanding 23,070 23,792 Basic net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (2.52 ) $ 0.37 Diluted: Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders $ (58,099 ) $ 8,837 Weighted average share outstanding 23,070 23,792 Dilutive restricted stock awards - 133 Total 23,070 23,925 Diluted net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share $ (2.52 ) $ 0.37

Organization (Details)

Organization (Details) - USD ($) $ in Millions	Nov. 30, 2015	Dec. 31, 2018	Dec. 31, 2017	Dec. 26, 2017
The Spin-off and Related Transactions [Abstract]
Number of AC shares issued for each GAMCO shares in connection with spin-off (in shares)	1
GAMCO Note [Member]
The Spin-off and Related Transactions [Abstract]
Notes receivable, face amount		$ 250
Notes receivable, interest rate		4.00%
Principal repayments received		$ 50	$ 50
Notes receivable, maturity date		Nov. 30, 2020
GAMCO [Member]
The Spin-off and Related Transactions [Abstract]
Number of GAMCO shares exchanged for each AC shares in connection with spin-off (in shares)	1
Notes receivable, face amount				$ 15
GAMCO [Member] | Class A [Member]
The Spin-off and Related Transactions [Abstract]
Number of shares of common stock acquired (in shares)		4,393,055
GCIA [Member]
The Spin-off and Related Transactions [Abstract]
Notes receivable, face amount		$ 150

Significant Accounting Polici_3

Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2018
Investments in Partnerships and Affiliates [Abstract]
Maximum threshold percentage of ownership interest for recording noncontrolling interests in consolidated entities	100.00%

Significant Accounting Polici_4

Significant Accounting Policies, Depreciation, Management Fee, and Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Depreciation [Abstract]
Fixed assets with net book value	$ 84	$ 39
Management Fee [Abstract]
Management fee expense percentage	10.00%
Goodwill [Abstract]
Impairment	$ 0	$ 0
Minimum [Member]
Depreciation [Abstract]
Estimated useful life of assets	4 years
Maximum [Member]
Depreciation [Abstract]
Estimated useful life of assets	7 years

Significant Accounting Polici_5

Significant Accounting Policies, Business Segment and Recent Accounting Developments (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018Segment	Dec. 31, 2017USD ($)
Business Segment [Abstract]
Number of operating segments | Segment	1
ASU 2016-01 [Member] | AOCI [Member]
Recent Accounting Developments [Abstract]
Reclassification from AOCI to retained earnings, net of tax		$ (8.2)
ASU 2016-01 [Member] | Retained Earnings [Member]
Recent Accounting Developments [Abstract]
Reclassification from AOCI to retained earnings, net of tax		8.2
ASU 2018-02 [Member] | AOCI [Member]
Recent Accounting Developments [Abstract]
Reclassification from AOCI to retained earnings, net of tax		(1.5)
ASU 2018-02 [Member] | Retained Earnings [Member]
Recent Accounting Developments [Abstract]
Reclassification from AOCI to retained earnings, net of tax		$ 1.5

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues by type [Abstract]
Revenues	$ 22,779	$ 26,915
Investment Advisory and Incentive Fees [Member]
Revenues by type [Abstract]
Revenues	14,409	14,551
Asset-Based Advisory Fees [Member]
Revenues by type [Abstract]
Revenues	$ 7,384
Asset-Based Advisory Fees [Member] | Minimum [Member]
Major Revenue Sources [Abstract]
Percentage of management fee	1.00%
Asset-Based Advisory Fees [Member] | Maximum [Member]
Major Revenue Sources [Abstract]
Percentage of management fee	1.50%
Performance-Based Advisory Fees [Member]
Major Revenue Sources [Abstract]
Percentage of investment performance calculated for additional fees	20.00%
Revenues by type [Abstract]
Revenues	$ 3,115
Sub-Advisory Fees [Member]
Revenues by type [Abstract]
Revenues	3,910
Institutional Research Services [Member]
Revenues by type [Abstract]
Revenues	8,284	12,199
Hard Dollar Payments [Member]
Revenues by type [Abstract]
Revenues	2,835
Commissions [Member]
Revenues by type [Abstract]
Revenues	5,349
Selling Concessions [Member]
Revenues by type [Abstract]
Revenues	84
Sales Manager Fees [Member]
Revenues by type [Abstract]
Revenues	16
Other [Member]
Revenues by type [Abstract]
Revenues	86	$ 165
Underwriting Fees [Member]
Revenues by type [Abstract]
Revenues	19
Miscellaneous [Member]
Revenues by type [Abstract]
Revenues	$ 67

Investments in Securities, Inve

Investments in Securities, Investment in Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Available for sale securities [Abstract]
Cost		$ 122,636
Fair value		135,952
Total investments in securities [Abstract]
Cost	$ 262,297	331,585
Fair value	229,960	352,637
Common Stock [Member]
Available for sale securities [Abstract]
Cost		65,331
Fair value		65,024
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost		3,523
Fair value		4,710
Investment in Securities [Member]
Securities [Abstract]
Cost	262,297	266,151
Fair value	229,960	287,342
Available for sale securities [Abstract]
Cost	0	65,434
Fair value	0	65,295
Investment in Securities [Member] | Government Obligations [Member]
Securities [Abstract]
Cost	11,694	53,681
Fair value	11,707	53,804
Investment in Securities [Member] | Common Stock [Member]
Securities [Abstract]
Cost	244,557	209,686
Fair value	213,151	228,557
Available for sale securities [Abstract]
Cost	0	65,331
Fair value	0	65,024
Investment in Securities [Member] | Mutual Funds [Member]
Securities [Abstract]
Cost	761	1,959
Fair value	1,161	3,157
Available for sale securities [Abstract]
Cost	0	103
Fair value	0	271
Investment in Securities [Member] | Other Investments [Member]
Securities [Abstract]
Cost	5,285	825
Fair value	$ 3,941	$ 1,824

Investments in Securities, Secu

Investments in Securities, Securities Sold, Not Yet Purchased (Details) - Investments in Securities [Member] - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Equity securities [Abstract]
Proceeds	$ 10,150	$ 4,863
Fair value	9,574	5,731
Common Stock [Member]
Equity securities [Abstract]
Proceeds	10,150	4,862
Fair value	9,485	5,396
Other Investments [Member]
Equity securities [Abstract]
Proceeds	0	1
Fair value	$ 89	$ 335

Investments in Securities, In_2

Investments in Securities, Investment in Affiliated Registered Investment Companies (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Available for sale securities [Abstract]
Cost		$ 122,636
Fair value		135,952
Total investments in affiliated registered investment companies [Abstract]
Cost	$ 123,664	125,383
Fair value	142,135	145,914
Closed-end Funds [Member]
Available for sale securities [Abstract]
Cost		53,782
Fair value		66,218
Mutual Funds [Member]
Available for sale securities [Abstract]
Cost		3,523
Fair value		4,710
Investment in Affiliated Registered Investment Companies [Member]
Equity securities [Abstract]
Cost	123,664	68,181
Fair value	142,135	75,257
Available for sale securities [Abstract]
Cost	0	57,202
Fair value	0	70,657
Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Equity securities [Abstract]
Cost	73,950	26,231
Fair value	85,090	26,929
Available for sale securities [Abstract]
Cost	0	53,782
Fair value	0	66,218
Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Equity securities [Abstract]
Cost	49,714	41,950
Fair value	57,045	48,328
Available for sale securities [Abstract]
Cost	0	3,420
Fair value	$ 0	$ 4,439

Investments in Securities, Recl

Investments in Securities, Reclassifications Out of Accumulated Other Comprehensive Income into Income (Details) $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2017USD ($)	Dec. 31, 2018USD ($)Contractshares	Dec. 31, 2017USD ($)Contractshares
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract]
Net gain (loss) from investments		$ (65,203)	$ 20,598
Income (loss) before income taxes		(68,861)	6,264
Income tax benefit		11,478	2,420
Net income/(loss)		$ (57,383)	$ 8,684
Shares under derivative contract (in shares) | shares		1	1.7
Number of foreign exchange contracts | Contract		1	0
Amount Reclassified from AOCI [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract]
Income (loss) before income taxes		$ 0	$ (7,246)
Income tax benefit		0	2,599
Net income/(loss)		0	(4,647)
GAMCO [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract]
Other than temporary impairment losses, investments, available-for-sale securities			19,100
G.research LLC [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract]
Non-cash contribution of AFS securities to subsidiary	$ 91,300
Realized Gain on Sale of AFS Securities [Member] | Amount Reclassified from AOCI [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract]
Net gain (loss) from investments		0	167
Gains on Transfer of AFS Securities to Affiliated Broker-Dealer [Member] | Amount Reclassified from AOCI [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract]
Net gain (loss) from investments		0	11,788
Income tax benefit	$ (4,200)
Other-than-Temporary Impairment of AFS Securities [Member] | Amount Reclassified from AOCI [Member]
Reclassifications out of Accumulated Other Comprehensive Income ("AOCI") into Income [Abstract]
Net gain (loss) from investments		$ 0	$ (19,201)

Investments in Securities, Fair

Investments in Securities, Fair Values and Gains and Losses of All Derivatives Held (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Values of All Derivatives Held [Abstract]
Asset derivatives fair values	$ 668	$ 229
Liability derivatives fair value	89	335
Gains and Losses of All Derivatives Held [Abstract]
Net gain/(loss) from investments	4,978	(98)
Net Gain from Investments [Member] | Equity Contracts [Member]
Gains and Losses of All Derivatives Held [Abstract]
Net gain/(loss) from investments	4,774	(98)
Net Gain from Investments [Member] | Foreign Exchange Contracts [Member]
Gains and Losses of All Derivatives Held [Abstract]
Net gain/(loss) from investments	204	0
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Receivable from Brokers [Member] | Foreign Exchange Contracts [Member]
Fair Values of All Derivatives Held [Abstract]
Asset derivatives fair values	204	204
Derivatives Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Payable to Brokers [Member] | Foreign Exchange Contracts [Member]
Fair Values of All Derivatives Held [Abstract]
Liability derivatives fair value	0	0
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Investments in Securities [Member] | Equity Contracts [Member]
Fair Values of All Derivatives Held [Abstract]
Asset derivatives fair values	464	229
Derivatives Not Designated as Hedging Instruments under FASB ASC 815-20 [Member] | Securities Sold, Not yet Purchased [Member] | Equity Contracts [Member]
Fair Values of All Derivatives Held [Abstract]
Liability derivatives fair value	$ 89	$ 335

Investments in Securities, Mast

Investments in Securities, Master Netting Arrangements for Swaps (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	$ 668	$ 229
Swaps [Member]
Offsetting derivative assets [Abstract]
Gross amounts of recognized assets	416	229
Gross amounts offset in the statements of financial condition	0	0
Net amounts of assets presented in the statements of financial condition	416	229
Gross amounts not offset in the statements of financial condition [Abstract]
Financial instruments	(89)	(229)
Cash collateral received	0	0
Net amount	327	0
Offsetting derivative liabilities [Abstract]
Gross amounts of recognized liabilities	89	334
Gross amounts offset in the statements of financial condition	0	0
Net amounts of liabilities presented in the statements of financial condition	89	334
Gross amounts not offset in the statements of financial condition [Abstract]
Financial instruments	(89)	(229)
Cash collateral pledged	0	0
Net amount	$ 0	$ 105

Investments in Securities, Summ

Investments in Securities, Summary of Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summary of cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments [Abstract]
Cost		$ 122,636
Gross unrealized gains		13,623
Gross unrealized losses		(307)
Fair value		135,952
Changes in net unrealized gains, net of taxes, for available for sale securities		5,400
Return of capital on available for sale securities	$ 128	895
Proceeds from sale of investment available for sale	$ 1,958	271
Common Stock [Member]
Summary of cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments [Abstract]
Cost		65,331
Gross unrealized gains		0
Gross unrealized losses		(307)
Fair value		65,024
Closed-end Funds [Member]
Summary of cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments [Abstract]
Cost		53,782
Gross unrealized gains		12,436
Gross unrealized losses		0
Fair value		66,218
Mutual Funds [Member]
Summary of cost, gross unrealized gains, gross unrealized losses and fair value of AFS investments [Abstract]
Cost		3,523
Gross unrealized gains		1,187
Gross unrealized losses		0
Fair value		$ 4,710

Investments in Securities, In_3

Investments in Securities, Investments Classified as Available for Sale in Unrealized Loss Position (Details) $ in Thousands	Dec. 31, 2017USD ($)
Investments classified as available for sale unrealized loss position [Abstract]
Cost	$ 65,331
Unrealized losses	(307)
Fair value	65,024
Common Stock [Member]
Investments classified as available for sale unrealized loss position [Abstract]
Cost	65,331
Unrealized losses	(307)
Fair value	$ 65,024

Investment Partnerships and V_3

Investment Partnerships and Variable Interest Entities, Breakdown of Consolidated Entities and Investments in Partnerships Line by Accounting Method (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)Entity	Dec. 31, 2017USD ($)Entity
Investments In Affiliated and Unaffiliated Entities [Abstract]
Investments in affiliated entities | $	$ 100.1	$ 124.5
Investments in unaffiliated entities | $	$ 18.6	$ 21.1
VIEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	1	1
Additional consolidated entities	0	0
Deconsolidated entities	0	0
Entities consolidated at end of period	1	1
VOEs [Member]
Entities Consolidated [Roll Forward]
Entities consolidated at beginning of period	3	1
Additional consolidated entities	2	2
Deconsolidated entities	0	0
Entities consolidated at end of period	5	3

Investment Partnerships and V_4

Investment Partnerships and Variable Interest Entities, Net Impact by Line Item on Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets [Abstract]
Cash and cash equivalents	$ 409,564	$ 293,112
Investments in securities (including GBL stock)	229,960	352,637
Investments in affiliated registered investment companies	142,135	145,914
Investments in partnerships	118,729	145,591
Receivable from brokers	24,629	34,881
Investment advisory fees receivable	4,394	5,739
Other assets	25,022	29,041
Total assets	954,433	1,006,915
Liabilities and equity [Abstract]
Securities sold, not yet purchased	9,574	5,731
Accrued expenses and other liabilities	28,811	36,807
Redeemable noncontrolling interests	49,800	46,230
Total equity	866,248	918,147	$ 874,022
Total liabilities and equity	954,433	1,006,915
Consolidated Statements of Income [Abstract]
Total revenues	22,779	26,915
Total expenses	36,259	47,301
Operating loss	(13,480)	(20,386)
Total other income (expense), net	(55,381)	26,650
Income/(loss) before income taxes	(68,861)	6,264
Income tax benefit	(11,478)	(2,420)
Net income/(loss)	(57,383)	8,684
Net income attributable to noncontrolling interests	716	(153)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	(58,099)	8,837
Consolidated Entities [Member]
Assets [Abstract]
Cash and cash equivalents	13,490	5,149
Investments in securities (including GBL stock)	98,196	97,385
Investments in affiliated registered investment companies	(50,871)	(52,555)
Investments in partnerships	(19,390)	(14,865)
Receivable from brokers	16,631	23,159
Investment advisory fees receivable	(33)	(10)
Other assets	471	176
Total assets	58,494	58,439
Liabilities and equity [Abstract]
Securities sold, not yet purchased	4,943	326
Accrued expenses and other liabilities	3,751	11,883
Redeemable noncontrolling interests	49,800	46,230
Total equity	0	0
Total liabilities and equity	58,494	58,439
Consolidated Statements of Income [Abstract]
Total revenues	(76)	(47)
Total expenses	1,846	1,706
Operating loss	(1,922)	(1,753)
Total other income (expense), net	2,638	1,600
Income/(loss) before income taxes	716	(153)
Income tax benefit	0	0
Net income/(loss)	716	(153)
Net income attributable to noncontrolling interests	716	(153)
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	0	0
Prior to Consolidation [Member]
Assets [Abstract]
Cash and cash equivalents	396,074	287,963
Investments in securities (including GBL stock)	131,764	255,252
Investments in affiliated registered investment companies	193,006	198,469
Investments in partnerships	138,119	160,456
Receivable from brokers	7,998	11,722
Investment advisory fees receivable	4,427	5,749
Other assets	24,551	28,865
Total assets	895,939	948,476
Liabilities and equity [Abstract]
Securities sold, not yet purchased	4,631	5,405
Accrued expenses and other liabilities	25,060	24,924
Redeemable noncontrolling interests	0	0
Total equity	866,248	918,147
Total liabilities and equity	895,939	948,476
Consolidated Statements of Income [Abstract]
Total revenues	22,855	26,962
Total expenses	34,413	45,595
Operating loss	(11,558)	(18,633)
Total other income (expense), net	(58,019)	25,050
Income/(loss) before income taxes	(69,577)	6,417
Income tax benefit	(11,478)	(2,420)
Net income/(loss)	(58,099)	8,837
Net income attributable to noncontrolling interests	0	0
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (58,099)	$ 8,837

Investment Partnerships and V_5

Investment Partnerships and Variable Interest Entities, Variable Interest Entities (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Balances related to VIEs [Abstract]
Cash and cash equivalents	$ 409,564	$ 293,112
Investments in securities	229,960	352,637
Receivable from brokers	24,629	34,881
Accrued expenses and other liabilities	(28,811)	(36,807)
Redeemable noncontrolling interests	(49,800)	(46,230)
VIEs [Member]
Balances related to VIEs [Abstract]
Cash and cash equivalents	2,560	120
Investments in securities	7,253	8,757
Receivable from brokers	553	1,657
Other assets	(11)	(19)
Accrued expenses and other liabilities	(31)	(29)
Redeemable noncontrolling interests	(419)	(284)
AC's net interests in consolidated VIE	$ 9,905	$ 10,202

Investment Partnerships and V_6

Investment Partnerships and Variable Interest Entities, Equity Method Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Summarized Financial Information [Abstract]
Total assets	$ 1,549	$ 1,600
Total liabilities	260	322
Total equity	1,289	1,278
Net income/(loss)	$ (12)	$ 112

Fair Value, Assets and Liabilit

Fair Value, Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Assets [Abstract]
AFS			$ 135,952
Liabilities [Abstract]
Securities sold, not yet purchased		$ 9,574	5,731
Common Stocks [Member]
Assets [Abstract]
AFS			65,024
Closed-end Funds [Member]
Assets [Abstract]
AFS			66,218
Mutual Funds [Member]
Assets [Abstract]
AFS			4,710
Investment in Securities (Including GBL Stock) [Member]
Assets [Abstract]
AFS		0	65,295
Investment in Securities (Including GBL Stock) [Member] | Common Stocks [Member]
Assets [Abstract]
AFS		0	65,024
Investment in Securities (Including GBL Stock) [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS		0	271
Investment in Affiliated Registered Investment Companies [Member]
Assets [Abstract]
AFS		0	70,657
Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Assets [Abstract]
AFS		0	66,218
Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS		$ 0	4,439
Unaffiliated [Member] | Minimum [Member]
Liabilities [Abstract]
Notice period for redeeming investments		30 days
Unaffiliated [Member] | Maximum [Member]
Liabilities [Abstract]
Notice period for redeeming investments		95 days
Investments Using NAV as Fair Value [Member]
Assets [Abstract]
Investments in partnerships		$ 9,429	9,442
Liabilities [Abstract]
Investment in partnerships, equity method		105,020	131,175
Recurring Basis [Member]
Assets [Abstract]
Cash equivalents		407,239	290,043
Investments in partnerships		118,729	145,591
Total investments		490,824	644,142
Total assets at fair value		898,063	934,185
Liabilities [Abstract]
Securities sold, not yet purchased		9,574	5,731
Recurring Basis [Member] | Common Stocks [Member]
Liabilities [Abstract]
Trading		9,485	5,396
Recurring Basis [Member] | Other [Member]
Liabilities [Abstract]
Trading		89	335
Recurring Basis [Member] | Investment in Securities (Including GBL Stock) [Member]
Assets [Abstract]
Total investments		229,960	352,637
Recurring Basis [Member] | Investment in Securities (Including GBL Stock) [Member] | Government Obligations [Member]
Assets [Abstract]
Trading		11,707	53,804
Recurring Basis [Member] | Investment in Securities (Including GBL Stock) [Member] | Common Stocks [Member]
Assets [Abstract]
AFS			65,024
Trading		213,151	228,557
Recurring Basis [Member] | Investment in Securities (Including GBL Stock) [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			271
Trading		1,161	3,157
Recurring Basis [Member] | Investment in Securities (Including GBL Stock) [Member] | Other [Member]
Assets [Abstract]
Trading		3,941	1,824
Recurring Basis [Member] | Investment in Affiliated Registered Investment Companies [Member]
Assets [Abstract]
Total investments		142,135	145,914
Recurring Basis [Member] | Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Assets [Abstract]
AFS			66,218
Trading		85,090	26,929
Recurring Basis [Member] | Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			4,439
Trading		57,045	48,328
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Cash equivalents		407,239	290,043
Investments in partnerships		0	0
Total investments		361,000	496,534
Total assets at fair value		768,239	786,577
Liabilities [Abstract]
Securities sold, not yet purchased		9,485	5,396
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Common Stocks [Member]
Liabilities [Abstract]
Trading		9,485	5,396
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Other [Member]
Liabilities [Abstract]
Trading		0	0
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Securities (Including GBL Stock) [Member]
Assets [Abstract]
Total investments		218,865	350,620
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Securities (Including GBL Stock) [Member] | Government Obligations [Member]
Assets [Abstract]
Trading		11,707	53,804
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Securities (Including GBL Stock) [Member] | Common Stocks [Member]
Assets [Abstract]
AFS			65,024
Trading		205,978	227,938
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Securities (Including GBL Stock) [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			271
Trading		1,161	3,157
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Securities (Including GBL Stock) [Member] | Other [Member]
Assets [Abstract]
Trading		19	426
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Affiliated Registered Investment Companies [Member]
Assets [Abstract]
Total investments		142,135	145,914
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Assets [Abstract]
AFS			66,218
Trading		85,090	26,929
Recurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			4,439
Trading		57,045	48,328
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Cash equivalents		0	0
Investments in partnerships		0	0
Total investments		7,625	230
Total assets at fair value		7,625	230
Liabilities [Abstract]
Securities sold, not yet purchased		89	335
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Common Stocks [Member]
Liabilities [Abstract]
Trading		0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Other [Member]
Liabilities [Abstract]
Trading		89	335
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Securities (Including GBL Stock) [Member]
Assets [Abstract]
Total investments		7,625	230
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Securities (Including GBL Stock) [Member] | Government Obligations [Member]
Assets [Abstract]
Trading		0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Securities (Including GBL Stock) [Member] | Common Stocks [Member]
Assets [Abstract]
AFS			0
Trading		7,161	1
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Securities (Including GBL Stock) [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			0
Trading		0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Securities (Including GBL Stock) [Member] | Other [Member]
Assets [Abstract]
Trading		464	229
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Affiliated Registered Investment Companies [Member]
Assets [Abstract]
Total investments		0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Assets [Abstract]
AFS			0
Trading		0	0
Recurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			0
Trading		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Cash equivalents		0	0
Investments in partnerships		0	0
Total investments		3,470	1,787
Total assets at fair value		3,470	1,787
Liabilities [Abstract]
Securities sold, not yet purchased		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Common Stocks [Member]
Liabilities [Abstract]
Trading		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Other [Member]
Liabilities [Abstract]
Trading		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Securities (Including GBL Stock) [Member]
Assets [Abstract]
Total investments		3,470	1,787
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Securities (Including GBL Stock) [Member] | Government Obligations [Member]
Assets [Abstract]
Trading		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Securities (Including GBL Stock) [Member] | Common Stocks [Member]
Assets [Abstract]
AFS			0
Trading		12	618
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Securities (Including GBL Stock) [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			0
Trading		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Securities (Including GBL Stock) [Member] | Other [Member]
Assets [Abstract]
Trading		3,458	1,169
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Affiliated Registered Investment Companies [Member]
Assets [Abstract]
Total investments		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Assets [Abstract]
AFS			0
Trading		0	0
Recurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS			0
Trading		0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member]
Assets [Abstract]
Cash equivalents	[1]	0	0
Investments in partnerships	[1]	114,449	140,617
Total investments	[1]	114,449	140,617
Total assets at fair value	[1]	114,449	140,617
Liabilities [Abstract]
Securities sold, not yet purchased		0	0	[1]
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Common Stocks [Member]
Liabilities [Abstract]
Trading	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Other [Member]
Liabilities [Abstract]
Trading	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member]
Assets [Abstract]
Total investments	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Government Obligations [Member]
Assets [Abstract]
Trading	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Common Stocks [Member]
Assets [Abstract]
AFS	[1]		0
Trading	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS	[1]		0
Trading	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Other [Member]
Assets [Abstract]
Trading	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Affiliated Registered Investment Companies [Member]
Assets [Abstract]
Total investments	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Assets [Abstract]
AFS	[1]		0
Trading	[1]	0	0
Recurring Basis [Member] | Investments Using NAV as Fair Value [Member] | Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS	[1]		0
Trading	[1]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member]
Assets [Abstract]
Cash equivalents	[2]	0	0
Investments in partnerships	[2]	4,280	4,974
Total investments	[2]	4,280	4,974
Total assets at fair value	[2]	4,280	4,974
Liabilities [Abstract]
Securities sold, not yet purchased		0	0	[2]
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Common Stocks [Member]
Liabilities [Abstract]
Trading	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Other [Member]
Liabilities [Abstract]
Trading	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member]
Assets [Abstract]
Total investments	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Government Obligations [Member]
Assets [Abstract]
Trading	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Common Stocks [Member]
Assets [Abstract]
AFS	[2]		0
Trading	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS	[2]		0
Trading	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Securities (Including GBL Stock) [Member] | Other [Member]
Assets [Abstract]
Trading	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Affiliated Registered Investment Companies [Member]
Assets [Abstract]
Total investments	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Affiliated Registered Investment Companies [Member] | Closed-end Funds [Member]
Assets [Abstract]
AFS	[2]		0
Trading	[2]	0	0
Recurring Basis [Member] | Other Assets Not Held at Fair Value [Member] | Investment in Affiliated Registered Investment Companies [Member] | Mutual Funds [Member]
Assets [Abstract]
AFS	[2]		0
Trading	[2]	$ 0	$ 0
[1]	Amounts include certain equity method investments in Investment Partnerships which qualify for investment company specialized accounting. These Investment Partnerships account for their financial assets and liabilities using fair value measures and, therefore, the Company's investment approximates fair value. At December 31, 2018 and December 31, 2017, investments in these Investment Partnerships were $105,020 and $131,175, respectively. In addition, certain investments in Investment Partnerships were held by a consolidated entity. At December 31, 2018 and December 31, 2017, these amounts were $9,429 and $9,442, respectively. None of these investments have been classified in the fair value hierarchy.
[2]	Amounts include certain equity method investments which are not accounted for under a fair value measure. In accordance with GAAP, certain equity method investees do not account for both their financial assets and liabilities under fair value measures; therefore, the Company's investment in such equity method investees may not represent fair value.

Fair Value, Changes in Level 3

Fair Value, Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	$ 1,787	$ 744
Consolidated funds	984	0
Total gains/(losses)	(3,490)	1,062
Purchases	4,773	167
Sales	(32)	(150)
Transfers	(552)	(36)
Ending balance	3,470	1,787
Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to Level 3 assets still held as of the reporting date	(3,505)	1,011
Common Stocks [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	618	461
Consolidated funds	0	0
Total gains/(losses)	(1)	193
Purchases	0	0
Sales	0	0
Transfers	(605)	(36)
Ending balance	12	618
Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to Level 3 assets still held as of the reporting date	(1)	184
Other [Member]
Changes in Level 3 Assets Measured at Fair Value on a Recurring Basis [Roll Forward]
Beginning balance	1,169	283
Consolidated funds	984	0
Total gains/(losses)	(3,489)	869
Purchases	4,773	167
Sales	(32)	(150)
Transfers	53	0
Ending balance	3,458	1,169
Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to Level 3 assets still held as of the reporting date	$ (3,504)	$ 827

Income Taxes (Details)

Income Taxes (Details) - USD ($)		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017
Federal [Abstract]
Current		$ 1,223,000	$ 781,000
Deferred		(11,631,000)	(3,137,000)
State and local [Abstract]
Current		124,000	(33,000)
Deferred		(1,194,000)	(31,000)
Total		$ (11,478,000)	$ (2,420,000)
Reconciliation of the Federal statutory rate to the effective tax rate [Abstract]
Statutory Federal income tax rate		21.00%	34.00%
State income tax, net of federal benefit		1.30%	(1.30%)
Dividends received deduction		0.40%	(8.00%)
Donation of appreciated securities		0.00%	(21.50%)
Deferred tax asset valuation allowance		(1.00%)	0.00%
Nondeductible capital losses		(4.50%)	0.00%
Revaluation of net deferred tax liabilities due to tax reform		0.00%	(26.50%)
Accelerated vesting of restricted stock awards		0.00%	(14.50%)
Noncontrolling interests		0.00%	(0.90%)
Other		(0.50%)	0.10%
Effective income tax rate		16.70%	(38.60%)
Income tax expense (benefit) due to revaluation of deferred tax assets and liabilities			$ (1,700,000)
Deferred tax assets [Abstract]
Stock-based compensation expense		$ 139,000	19,000
Investments in securities and partnerships		5,100,000	0
Deferred compensation		2,392,000	987,000
Shareholder-designated contribution carryover	[1]	1,898,000	1,765,000
Other		90,000	3,000
Total deferred tax assets		9,619,000	2,774,000
Deferred tax liabilities [Abstract]
Investments in securities and partnerships		0	(6,165,000)
Other liabilities		(197,000)	(12,000)
Total deferred tax liabilities		(197,000)	(6,177,000)
Net deferred tax assets		9,422,000
Net deferred tax liabilities			(3,403,000)
Valuation allowance		719,000
Reconciliation of the beginning and ending amount of gross unrecognized tax benefits [Roll Forward]
Balance, beginning of period		11,000	100,000
Additions based on tax positions related to the current year		0	0
Additions for tax positions of prior years		0	0
Reductions for tax positions of prior years		(5,000)	(89,000)
Settlements		0	0
Balance, end of period		6,000	11,000
Unrecognized tax benefits (liabilities) that would impact effective tax rate		4,494	8,629
Accrued liabilities for interest and penalties		$ 3,071	$ 6,241
Maximum [Member]
Reconciliation of the Federal statutory rate to the effective tax rate [Abstract]
Statutory Federal income tax rate			35.00%
[1]	Net of valuation allowance of $719.

Earnings per Share (Details)

Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Basic [Abstract]
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (58,099)	$ 8,837
Weighted average shares outstanding (in shares)	23,070	23,792
Basic net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share (in dollars per share)	$ (2.52)	$ 0.37
Diluted [Abstract]
Net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders	$ (58,099)	$ 8,837
Weighted average share outstanding (in shares)	23,070	23,792
Dilutive restricted stock awards (in shares)	0	133
Total (in shares)	23,070	23,925
Diluted net income/(loss) attributable to Associated Capital Group, Inc.'s shareholders per share (in dollars per share)	$ (2.52)	$ 0.37

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Feb. 28, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 26, 2017
GAMCO Note [Member]
Loans with GAMCO [Abstract]
Principal repayments received		$ 50,000,000	$ 50,000,000
Interest income		800,000	$ 3,000,000
Notes receivable, face amount		$ 250,000,000
GGCP [Member] | Class B Common Stock [Member]
Ownership Percentage [Abstract]
Ownership percentage of voting rights		95.00%
Percentage of ownership interest in subsidiary		82.00%
GAMCO [Member]
Loans with GAMCO [Abstract]
Notes receivable, face amount				$ 15,000,000
Repayment of debt principal and interest	$ 40,000

Related Party Transactions, Inv

Related Party Transactions, Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Investments in Securities [Abstract]
Proprietary investment account	$ 45	$ 44
Percentage of net profits earned on fund performance	20.00%
Investments in Gabelli U.S. Treasury Money Market Fund	$ 398.3	238.1
Investments in affiliated equity mutual funds	142.4	146.2
Investments in Partnerships [Abstract]
Investment in affiliated investment partnerships	$ 100.1	124.5
Investment Advisory Services [Abstract]
General partners percentage of incentive allocation	20.00%
GAMCO [Member] | Common Stock [Member]
Investments in Securities [Abstract]
Investment value	$ 50.9	130.3
Dividend income	0.3	0.4
Son of Executive Chairman [Member]
Investments in Securities [Abstract]
Balance in funding of proprietary account	18.2	18
Balance in funding of proprietary account owed to portfolio manager	0.1	3.5
Compensation earned for managing proprietary account	$ 0	0.5
GCIA [Member]
Investment Advisory Services [Abstract]
Percentage of revenue transferred	90.00%
Amounts of transaction	$ 3.9	$ 2.8

Related Party Transactions, Com

Related Party Transactions, Compensation and Others (Details)	1 Months Ended	12 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)Fund	Oct. 31, 2017
Compensation [Abstract]
Management fee expense percentage		10.00%
Management fee expense		$ 0	$ 713,000
GAMCO [Member]
Institutional Research Services [Abstract]
Revenue from related parties			$ 172,730
Number of preferred stock offerings | Fund			3
Affiliated Receivables/Payables [Abstract]
Receivable from affiliates			$ 15,000,000
GAMCO Sublease [Abstract]
Rent paid		463,286	374,401
GAMCO Asset Management Inc [Member]
Institutional Research Services [Abstract]
Revenue from related parties		$ 3,800,000	$ 4,500,000
Revenue percentage earned		62.00%	60.00%
Payment received from related parties		$ 1,000,000	$ 2,200,000
Gabelli Funds, LLC [Member]
Institutional Research Services [Abstract]
Payment received from related parties		$ 1,000,000	$ 2,300,000
GCIA [Member] | GSIL [Member]
Other [Abstract]
Percentage of shares to be purchased				55.00%
Consideration paid	$ 341,076

Equity (Details)

Equity (Details) $ / shares in Units, $ in Thousands	Nov. 30, 2015shares	Dec. 31, 2018USD ($)shares	Oct. 31, 2018USD ($)shares	Aug. 31, 2018USD ($)shares	Feb. 28, 2018USD ($)shares	Mar. 31, 2018shares	Dec. 31, 2018USD ($)VoteperSharePlan$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares
Stock Award and Incentive Plan [Abstract]
Number of stock award and incentive plans | Plan							1
Number of shares awarded (in shares)							700,000
Shares available for future issuance (in shares)		1,300,000					1,300,000
Stock-based compensation expense | $							$ 700	$ 5,879
Stock Repurchase Program [Abstract]
Shares repurchased during the period (in shares)							200,000	600,000
Average price per share of repurchased shares (in dollars per share) | $ / shares							$ 37.52	$ 34.61
Total investment amount | $							$ 7,000	$ 21,200
Dividends [Abstract]
Dividends declared (in dollars per share) | $ / shares							$ 0.20	$ 0.20
Total dividends declared | $							$ 4,600	$ 4,800
Dividends payable | $		$ 2,300					$ 2,300	$ 2,400
Dividends payable, date to be paid							Jan. 9, 2019	Jan. 10, 2018
Maximum [Member]
Stock Award and Incentive Plan [Abstract]
Term of RSAs and stock options							10 years
Class A Common Stock [Member]
Voting Rights [Abstract]
Number of votes per share | VoteperShare							1
Exchange Offer [Abstract]
Number shares tendered upon completion of exchange offer (in shares)			373,581		493,954		867,535
Class A Common Stock [Member] | Maximum [Member]
Stock Award and Incentive Plan [Abstract]
Shares reserved for future issuance (in shares)		2,000,000					2,000,000
Class B Common Stock [Member]
Voting Rights [Abstract]
Number of votes per share | VoteperShare							10
GAMCO [Member]
Stock Award and Incentive Plan [Abstract]
Number of GAMCO shares exchanged for each AC shares in connection with spin-off (in shares)	1
GAMCO [Member] | Class A Common Stock [Member]
Exchange Offer [Abstract]
Number of shares received in exchange (in shares)			1.9		1.35
Number of shares accepted for exchange (in shares)			709,749		666,805
Value of shares in exchange offer | $			$ 14,600		$ 17,700
Restricted Stock Awards [Member]
Stock Award and Incentive Plan [Abstract]
Number of shares awarded (in shares)							0	0
Granted (in shares)	554,100
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)	554,100
Shares outstanding (in shares)								19,400
Number of shares with accelerated vesting (in shares)						19,400
Stock compensation expense recognized due to acceleration of restrictions on RSAs | $								$ 4,200
Phantom RSAs [Member]
Stock Award and Incentive Plan [Abstract]
Granted (in shares)		172,800		172,800
Shares outstanding (in shares)		170,300					170,300
Total value of shares granted | $		$ 6,100		$ 6,100
Unrecognized compensation cost | $				$ 5,400
Weighted-average period for recognizing unrecognized compensation cost				2 years 6 months
Phantom RSAs [Member] | Vesting in Three Years from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Awards vesting percentage							30.00%
Award vesting period							3 years
Phantom RSAs [Member] | Vesting in Five Years from Date of Grant [Member]
Stock Award and Incentive Plan [Abstract]
Awards vesting percentage							70.00%
Award vesting period							5 years

Retirement Plan (Details)

Retirement Plan (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Retirement Plan [Abstract]
Allocated contributions	$ 11,000	$ 49,000

Net Capital Requirements (Detai

Net Capital Requirements (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Net Capital Requirements [Abstract]
Minimum net capital required for broker dealer subsidiary	$ 250,000	$ 250,000
Net capital	9,100,000	41,800,000
Excess amount of regulatory capital requirement	$ 8,800,000	$ 41,600,000

Shareholder-Designated Contri_2

Shareholder-Designated Contribution Plan (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Shareholder-Designated Contribution Plan [Abstract]
Contribution price (in dollars per share)	$ 0.25
Shareholder-designated contribution	$ 3,300	$ 4,222
Liability related to shareholder designated contribution program	$ 3,300

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Feb. 01, 2019USD ($)
GAMCO Asset Management Inc [Member]
Research Service Agreements [Abstract]
Amount of monthly research service fees	$ 62,500
Gabelli Funds, LLC [Member]
Research Service Agreements [Abstract]
Amount of monthly research service fees	$ 62,500