XML 36 R23.htm IDEA: XBRL DOCUMENT v3.7.0.1
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Calculation Of Basic And Diluted Earnings Per Share
The calculations of basic and diluted earnings per share for the three and six months ended June 30, 2017 and 2016 are:
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2017
 
2016
 
2017
 
2016
Net income
$
91,769

 
$
81,005

 
$
180,506

 
$
158,502

Shares used to compute basic earnings per common share
158,325,000

 
161,795,000

 
158,708,000

 
162,404,000

Dilutive effect of stock options
3,384,000

 
3,293,000

 
3,518,000

 
3,212,000

Shares used to compute diluted earnings per common share
161,709,000

 
165,088,000

 
162,226,000

 
165,616,000

Basic earnings per common share
$
0.58

 
$
0.50

 
$
1.14

 
$
0.98

Diluted earnings per common share
$
0.57

 
$
0.49

 
$
1.11

 
$
0.96

Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities
The following table provides the details of the adjustments to reconcile net income to net cash provided by operating activities for the six months ended June 30:
 
2017
 
2016
Net income
$
180,506

 
$
158,502

Adjustments to reconcile net income to net cash provided by operating activities:
 
 
 
Depreciation
13,399

 
12,881

Amortization
24,587

 
22,296

Equity in earnings of unconsolidated affiliate
(69,880
)
 
(59,477
)
Distributions received from unconsolidated affiliate
75,142

 
67,061

Stock-based compensation
12,439

 
7,978

Provision for losses on receivables
157

 
297

Deferred income tax expense
918

 
(311
)
Gain from sale of SEI AK

 
(2,791
)
Net gain from investments
(391
)
 
(124
)
Tax benefit on stock options exercised (1)

 
4,004

Change in other long-term liabilities
(503
)
 
865

Change in other assets
122

 
1,084

Other
492

 
1,030

Change in current assets and liabilities
 
 
 
Decrease (increase) in
 
 
 
Receivables from investment products
12,713

 
1,032

Receivables
(34,744
)
 
(19,357
)
Other current assets
(4,378
)
 
(4,006
)
Increase (decrease) in
 
 
 
Accounts payable
(2,329
)
 
(970
)
Accrued liabilities
(23,324
)
 
(27,634
)
Deferred revenue
(71
)
 
1,094

Total adjustments
4,349

 
4,952

Net cash provided by operating activities
$
184,855

 
$
163,454

(1) The tax benefit on stock options exercised for the six months ended June 30, 2016 was reclassified to operating activities from financing activities upon the adoption of ASU 2016-09.