| Significant Accounting Policies (Policies) | 3 Months Ended |
| Mar. 31, 2017 |
| Accounting Policies [Abstract] | |
| Basis of Presentation | Basis of Presentation
These consolidated financial statements have been prepared in
conformity with U.S. generally accepted accounting principles
(“GAAP”) and in the opinion of management reflect all
adjustments, consisting of only normal recurring adjustments,
necessary for a fair statement of financial condition, results of
operations, and cash flows for the periods presented. The
consolidated financial statements include the accounts of the
Company’s wholly owned subsidiaries.
All intercompany accounts and transactions have been eliminated in
consolidation. Certain accounts in the prior years’
consolidated financial statements have been reclassified to conform
to the current year’s consolidated financial statements
presentation. These reclassifications had no effect on the
previously reported operating results. |
| Consolidation | Consolidation
The Company consolidates entities in which it has a controlling
financial interest. The Company determines whether it has a
controlling financial interest in an entity by first evaluating
whether the entity is a voting interest entity (“VOE”)
or a variable interest entity (“VIE”). The usual
condition for a controlling financial interest in a VOE is
ownership of a majority voting interest. If the Company has a
majority voting interest in a VOE, the entity is consolidated. The
Company has a controlling financial interest in a VIE when the
Company has a variable interest that provides it with (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.
The Company had no variable interests in any VIEs at March 31,
2017 and December 31, 2016. |
| Segment and Geographic Information | Segment and Geographic Information
The Company operates as an ETP sponsor and asset manager providing
investment advisory services in the U.S., Europe, Canada and Japan.
These activities are reported in the Company’s U.S. Business
and International Business reportable segments. The U.S. Business
segment includes the results of the Company’s U.S. operations
and Japan sales office, which primarily engages in selling U.S.
listed ETFs to Japanese institutions. The results of the
Company’s European and Canadian operations are reported as
the International Business segment.
Revenues are primarily derived in the U.S. and the vast majority of
the Company’s AUM is currently located in the U.S. |
| Foreign Currency Translation | Foreign Currency Translation
Assets and liabilities of subsidiaries whose functional currency is
not the U.S. dollar are translated based on the end of period
exchange rates from local currency to U.S. dollars. Results of
operations are translated at the average exchange rates in effect
during the period. |
| Use of Estimates | Use of Estimates
The preparation of the Company’s consolidated financial
statements in conformity with U.S. GAAP requires management to make
estimates and assumptions that affect the reported amounts of
assets and liabilities as of the balance sheet dates and the
reported amounts of revenues and expenses for the periods
presented. Actual results could differ materially from those
estimates. |
| Revenue Recognition | Revenue Recognition
The Company earns investment advisory fees from its ETPs, as well
as licensing fees from third parties. ETP advisory fees are based
on a percentage of the ETPs’ average daily net assets and
recognized over the period the related service is provided.
Licensing fees are based on a percentage of the average monthly net
assets and recognized over the period the related service is
provided. |
| Depreciation and Amortization | Depreciation and Amortization
Depreciation is provided for using the straight-line method over
the estimated useful lives of the related assets as follows:
Equipment 5 years
Furniture and fixtures 15 years
Leasehold improvements are amortized over the term of their
respective leases or service lives of the improvements, whichever
is shorter. Fixed assets are stated at cost less accumulated
depreciation and amortization. |
| Occupancy | Occupancy
The Company accounts for its office lease facilities as operating
leases, which may include free rent periods and escalation clauses.
The Company expenses the lease payments associated with operating
leases on a straight-line basis over the lease term. |
| Marketing and Advertising | Marketing and Advertising
Advertising costs, including media advertising and production
costs, are expensed when incurred. |
| Cash and Cash Equivalents | Cash and Cash Equivalents
The Company considers all highly liquid investments with an
original maturity of 90 days or less at the time of purchase
to be classified as cash equivalents. |
| Accounts Receivable and Allowance for Doubtful Accounts | Accounts Receivable and Allowance for Doubtful
Accounts
Accounts receivable are customer and other obligations due under
normal trade terms. An allowance for doubtful accounts is not
provided since, in the opinion of management, all accounts
receivable recorded are deemed collectible. |
| Impairment of Long-Lived Assets | Impairment of Long-Lived Assets
The Company performs a review for the impairment of long-lived
assets when events or changes in circumstances indicate that the
estimated undiscounted future cash flows expected to be generated
by the assets are less than their carrying amounts or when other
events occur which may indicate that the carrying amount of an
asset may not be recoverable. |
| Earnings per Share | Earnings per Share
Basic earnings per share (“EPS”) is computed by
dividing net income available to common stockholders by the
weighted-average number of common shares outstanding for the
period. Net income available to common stockholders represents net
income of the Company reduced by an allocation of earnings to
participating securities. Unvested share-based payment awards that
contain non-forfeitable rights to dividends or dividend equivalents
(whether paid or unpaid) are participating securities and are
included in the computation of EPS pursuant to the two-class
method. Share-based payment awards that do not contain such rights
are not deemed participating securities and are included in diluted
shares outstanding (if dilutive) under the treasury stock method.
Diluted EPS reflects the reduction in earnings per share assuming
dilutive options or other dilutive contracts to issue common stock
were exercised or converted into common stock. Diluted EPS is
calculated under both the treasury stock method and two-class
method. The calculation that results in the most dilutive EPS
amount for the common stock is reported in the Company’s
consolidated financial statements. |
| Securities Owned and Securities Sold, but not yet Purchased (at fair value) | Securities Owned and Securities Sold, but not yet Purchased
(at fair value)
Securities owned and securities sold, but not yet purchased are
securities classified as either trading or available-for-sale
(“AFS”). These securities are recorded on their trade
date and are measured at fair value. The Company classifies these
financial instruments based primarily on the Company’s intent
to hold or sell the security. Changes in the fair value of
securities classified as trading are reported in other income in
the period the change occurs. Unrealized gains and losses of
securities classified as AFS are included within other
comprehensive income. Once sold, amounts reclassified out of
accumulated other comprehensive income and into earnings are
determined using the specific identification method. AFS securities
are assessed for impairment on a quarterly basis. |
| Securities Held-to-Maturity | Securities Held-to-Maturity
The Company accounts for certain of its investments as
held-to-maturity on a trade date basis, which are recorded at
amortized cost. For held-to-maturity investments, the Company has
the intent and ability to hold investments to maturity and it is
not more-likely-than-not that the Company will be required to sell
the investments before recovery of their amortized cost bases,
which may be maturity. On a quarterly basis, the Company reviews
its portfolio of investments for impairment. If a decline in fair
value is deemed to be other-than-temporary, the security is written
down to its fair value through earnings. |
| Investment, Carried at Cost | Investment, Carried at Cost
The Company accounts for equity securities that do not have a
readily determinable fair value as cost method investments to the
extent such investments are not subject to consolidation or the
equity method. Income is recognized when dividends are received
only to the extent they are distributed from net accumulated
earnings of the investee. Otherwise, such distributions are
considered returns of investment and are recorded as a reduction of
the cost of the investment.
Cost method investments held by the Company are assessed for
impairment on a quarterly basis. |
| Goodwill | Goodwill
Goodwill is the excess of the fair value of the purchase price over
the fair values of the identifiable net assets at the acquisition
date. The Company tests its goodwill for impairment at least
annually and at the time of a triggering event requiring
re-evaluation, if one were to occur. Goodwill may be impaired when
the estimated fair value of the reporting unit that was allocated
the goodwill is less than its carrying value. If the estimated fair
value of such reporting unit is less than its carrying value,
goodwill impairment is recognized if the implied fair value of the
reporting unit’s goodwill is less than the carrying amount of
that goodwill. A reporting unit is an operating segment or a
component of an operating segment provided that the component
constitutes a business for which discrete financial information is
available and management regularly reviews the operating results of
that component.
For impairment testing purposes, goodwill has been allocated to the
Company’s U.S. Business reporting unit (See Note 14). The
Company has designated April 30 th |
| Intangible Assets | Intangible Assets
Indefinite-lived intangible assets are tested for impairment at
least annually and are reviewed for impairment whenever events or
changes in circumstances indicate that the carrying amount of an
asset may not be recoverable. Indefinite-lived intangible assets
are impaired if their estimated fair values are less than their
carrying values.
Finite-lived intangible assets, if any, are amortized over their
estimated useful life, which is the period over which the assets
are expected to contribute directly or indirectly to the future
cash flows of the Company. These intangible assets are tested for
impairment at the time of a triggering event, if one were to occur.
Finite-lived intangible assets may be impaired when the estimated
undiscounted future cash flows generated from the assets are less
than their carrying amounts.
The Company may rely on a qualitative assessment when performing
its intangible asset impairment test. Otherwise, the impairment
evaluation is performed at the lowest level of identifiable cash
flows independent of other assets. The Company has designated
November 30 th |
| Stock-Based Awards | Stock-Based Awards
Accounting for stock-based compensation requires the measurement
and recognition of compensation expense for all equity awards based
on estimated fair values. Stock-based compensation is measured
based on the grant-date fair value of the award and is amortized
over the relevant service period. |
| Income Taxes | Income Taxes
The Company accounts for income taxes using the liability method,
which requires the determination of deferred tax assets and
liabilities based on the differences between the financial and tax
basis of assets and liabilities using the enacted tax rates in
effect for the year in which differences are expected to reverse.
Deferred tax assets are adjusted by a valuation allowance if, based
on the weight of available evidence, it is more-likely-than-not
In order to recognize and measure any unrecognized tax benefits,
management evaluates and determines whether any of its tax
positions are more-likely-than-not
Non-income |
| Third Party Sharing Arrangements | Third Party Sharing Arrangements
The Company pays a percentage of its advisory fee revenues based on
incremental growth in AUM, subject to caps or minimums, to
marketing agents to sell WisdomTree ETFs and for including
WisdomTree ETFs on third party customer platforms. |
| Business Combinations and Acquisitions | Business Combinations and Acquisitions
The Company includes the results of operations of the businesses
that it acquires from the respective dates of acquisition. The fair
values of the purchase price of the acquisitions are allocated to
the assets acquired and liabilities assumed based on their
estimated fair values. The excess of the fair value of purchase
price over the fair values of these identifiable assets and
liabilities is recorded as goodwill. The Company may allocate
purchase price to identifiable intangible assets. The estimated
fair value of identifiable intangible assets is based on critical
estimates, judgments and assumptions derived from: analysis of
market conditions; revenue and revenue growth assumptions;
profitability assumptions; discount rates; customer retention
rates; and estimated useful lives. |
| Recently Issued Accounting Pronouncements | Recently Issued Accounting Pronouncements
In June 2016, the Financial Accounting Standards Board
(“FASB”) issued Accounting Standards Update
(“ASU”) 2016-13, Financial
Instruments-Credit Losses (Topic 326) – Measurement of Credit
Losses on Financial Instruments 2016-13). off-balance held-to-maturity) held-to-maturity 2016-13
In March 2016, the FASB issued ASU 2016-09, Compensation—Stock
Compensation (Topic 718): Improvements to Employee Share-Based
Payment Accounting 2016-09). 2016-09 paid-in
In February 2016, the FASB issued ASU 2016-02, Leases 2016-02), 2016-02
In January 2016, the FASB issued ASU 2016-01, Financial Instruments
– Recognition and Measurement of Financial Assets and
Financial Liabilities 2016-01). Available-for-sale 2016-01
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with
Customers 2014-09), 2016-08, 2016-10, 2016-12, 2014-09. 2014-09 |
