Summary
Affiliated Managers Group, Inc. (AMG) filed its Form 10-Q for the quarterly period ended March 31, 2014. The filing indicates no significant changes in market risk disclosures compared to its 2013 Annual Report. Management has concluded that the company's disclosure controls and procedures are effective, providing reasonable assurance for timely and accurate financial reporting. No material changes were noted in internal controls over financial reporting during the quarter.
Financial Highlights
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Financial Statements
Beta
| SG&A Expenses | $122.30M |
| Operating Expenses | $399.10M |
| Operating Income | $193.90M |
| Interest Expense | $17.60M |
| Net Income | $77.20M |
| EPS (Basic) | $1.44 |
| EPS (Diluted) | $1.40 |
| Shares Outstanding (Basic) | 53.70M |
| Shares Outstanding (Diluted) | 55.20M |
Key Highlights
- 1No significant changes in market risk disclosures from the prior year's 10-K.
- 2Disclosure controls and procedures were deemed effective by the CEO and CFO.
- 3No material changes to internal controls over financial reporting occurred during the quarter.
- 4No unregistered sales of equity securities or use of proceeds from such sales were reported.
- 5No share repurchase activity occurred during the three months ended March 31, 2014.
- 6Approximately 2.2 million shares remain available for repurchase under previously authorized programs.
- 7The company is continuing its ongoing review and documentation of disclosure and internal financial controls.
Frequently Asked Questions
The company states there have been no significant changes to its quantitative and qualitative disclosures about market risk for the three months ended March 31, 2014. Investors are referred to Item 7A in AMG's 2013 Annual Report on Form 10-K for detailed information on market risk.
Yes, management, including the CEO and CFO, concluded that the company's disclosure controls and procedures are effective, ensuring information is recorded, processed, and reported within specified SEC timelines. No material changes that would affect internal control over financial reporting occurred during the quarter.
No, AMG did not engage in any share repurchase activity during the three months ended March 31, 2014. However, approximately 2.2 million shares remain available for repurchase under programs authorized in 2010 and 2011.
The filing explicitly states that there were no unregistered sales of equity securities and no use of proceeds from such sales during the quarter.