XML 33 R22.htm IDEA: XBRL DOCUMENT v3.21.1
Related Party Transactions
 3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions 16.  Related Party Transactions

Receivable from affiliate, reported in other assets in the condensed consolidated statement of financial condition, represents amounts advanced to Holdings and payable to affiliate represents amounts payable to Holdings under the Tax Receivable Agreement (see Note 4).

Included in receivables from and payables to customers in the condensed consolidated statements of financial condition as of March 31, 2021 and December 31, 2020 were accounts receivable from directors, officers and their affiliates of $438 million and $283 million, respectively, and payables of $941 million and $999 million, respectively. The Company may extend credit to these related parties in connection with margin and securities loans. Such loans are (i) made in the ordinary course of business, (ii) are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with persons not related to the company, and (iii) do not involve more than the normal risk of collectability or present other unfavorable features. Included in short-term borrowings as of March 31, 2021 and December 31, 2020 are senior notes purchased by directors, officers and their affiliates of $22 million and $16 million, respectively.