Composition of Certain Financial Statement Captions

Receivables

Receivables on the accompanying Consolidated Balance Sheets consist of:



	March 31, 2013			December 31, 2012
Trade receivables	$	48,600		$	46,650
Fees earned, not billed	119,962			116,019
Other receivables	43,039			9,870
	211,601			172,539
Less: Allowance for doubtful accounts	(1,021		)	(805		)
	$	210,580		$	171,734

Fees earned, not billed represents receivables earned but unbilled and results from timing differences between services provided and contractual billing schedules. These billing schedules generally provide for fees to be billed on a quarterly basis. In addition, certain fees earned from investment operations services are determined from security valuations which delay billings to clients.

Other receivables include $32,722 relating to the closing of the sale of a subsidiary (See Note 13).

Receivables from regulated investment companies on the accompanying Consolidated Balance Sheets primarily represent fees receivable for distribution, investment advisory, and administration services to various regulated investment companies sponsored by SEI.

Property and Equipment

Property and Equipment on the accompanying Consolidated Balance Sheets consists of:



	March 31, 2013			December 31, 2012
Buildings	$	137,940		$	137,751
Equipment	65,996			66,167
Land	9,929			9,929
Purchased software	92,362			91,468
Furniture and fixtures	17,524			18,535
Leasehold improvements	4,495			5,037
Construction in progress	116			112
	328,362			328,999
Less: Accumulated depreciation	(205,209		)	(201,418		)
Property and Equipment, net	$	123,153		$	127,581

The Company recognized $5,704 and $5,432 in depreciation expense related to property and equipment for the three months ended March 31, 2013 and 2012, respectively.

Accrued Liabilities

Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:



	March 31, 2013		December 31, 2012
Accrued employee compensation	$	25,689	$	63,996
Accrued employee benefits and other personnel	6,952		7,299
Accrued consulting, outsourcing and professional fees	22,147		16,676
Accrued brokerage fees	5,028		5,733
Accrued sub-advisory, distribution and other asset management fees	20,630		17,548
Accrued income taxes	38,837		104
Other accrued liabilities	21,327		26,949
Total accrued liabilities	$	140,610	$	138,305