10-QPeriod: Q2 FY2013

AFFILIATED MANAGERS GROUP, INC. Quarterly Report for Q2 Ended Jun 30, 2013

Filed August 6, 2013For Securities:AMGMGRBMGRMGRDMGRE

Summary

Affiliated Managers Group, Inc. (AMG) filed its 10-Q for the period ending June 30, 2013, with no significant changes reported in market risk disclosures compared to its 2012 Form 10-K. The company's management, including the CEO and CFO, has concluded that disclosure controls and procedures are effective, providing reasonable assurance for timely and accurate financial reporting. Furthermore, there were no changes to the company's internal control over financial reporting during the quarter. In terms of capital allocation, AMG had approximately 2.3 million shares available for repurchase under existing programs as of June 30, 2013, though no shares were repurchased during the three months ended June 30, 2013. These repurchase programs, initiated in July 2010 and October 2011, do not have an expiration date and allow for purchases at management's discretion.

Financial Highlights

44 data points
Beta

Net Income

$64.70M

EPS (Diluted)

$1.18

Total Assets

$6.07B

Cash & Equivalents

$413.80M

Free Cash Flow

$258.40M

Financial Statements
Beta
SG&A Expenses$99.50M
Operating Expenses$379.60M
Operating Income$161.40M
Interest Expense$24.30M
Net Income$64.70M
EPS (Basic)$1.22
EPS (Diluted)$1.18
Shares Outstanding (Basic)53.10M
Shares Outstanding (Diluted)54.60M

Key Highlights

  • 1No significant changes in market risk disclosures from the prior year's 10-K.
  • 2Disclosure controls and procedures were deemed effective by senior management.
  • 3No material changes to internal control over financial reporting during the quarter.
  • 4Approximately 2.3 million shares remained available for repurchase as of June 30, 2013.
  • 5No share repurchase activity occurred in the three months ended June 30, 2013.
  • 6Existing share repurchase programs do not expire and allow for discretionary purchases.

Frequently Asked Questions

AMG reported no significant changes to its Quantitative and Qualitative Disclosures About Market Risk for the three months ended June 30, 2013. Investors should refer to the company's 2012 Annual Report on Form 10-K for detailed information on market risk.

Yes, AMG's management, including the CEO and CFO, concluded that the company's disclosure controls and procedures are effective at a reasonable assurance level. There were also no material changes to the internal control over financial reporting during the quarter.

AMG did not repurchase any shares of its common stock during the three months ended June 30, 2013. However, as of June 30, 2013, approximately 2.3 million shares were still available under previously authorized repurchase programs.

The company has approximately 2.3 million shares available for repurchase under programs approved in July 2010 and October 2011. These programs do not expire, and any future repurchases will be made at management's discretion, but there was no activity in the most recent quarter.