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Investment In Unconsolidated Affiliate | 9 Months Ended
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Sep. 30, 2017
Equity Method Investments and Joint Ventures [Abstract] |
Investment In Unconsolidated Affiliate | Investment in Unconsolidated Affiliate LSV Asset Management The Company has an investment in LSV Asset Management (LSV), a registered investment advisor that provides investment advisory services primarily to institutions, including pension plans and investment companies. LSV is currently an investment sub-advisor for a limited number of SEI-sponsored mutual funds. The Company accounts for its interest in LSV using the equity method because of its less than 50 percent ownership. The Company’s interest in the net assets of LSV is reflected in Investment in unconsolidated affiliate on the accompanying Consolidated Balance Sheets and its interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on the accompanying Consolidated Statements of Operations. At September 30, 2017, the Company’s total investment in LSV was $42,225. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $117,447 and $102,246 in the nine months ended September 30, 2017 and 2016, respectively. As such, the Company considers these distribution payments as returns on investment rather than returns of the Company's original investment in LSV and has therefore classified the associated cash inflows as an operating activity on the Consolidated Statements of Cash Flows. The Company’s proportionate share in the earnings of LSV was $39,333 and $32,565 during the three months ended September 30, 2017 and 2016, respectively. During the nine months ended September 30, 2017 and 2016, the Company's proportionate share in the earnings of LSV was $109,213 and $92,042, respectively. These tables contain condensed financial information of LSV:
Condensed Statement of Operations |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Revenues |  | $ | 126,723 |  |  | $ | 103,341 |  |  | $ | 355,996 |  |  | $ | 291,819 |
Net income |  | 101,130 |  |  | 83,646 |  |  | 280,717 |  |  | 235,893 |
Condensed Balance Sheets |  | September 30, 2017 |  | December 31, 2016
Current assets |  | $ | 136,299 |  |  | $ | 125,872 |
Non-current assets |  | 1,553 |  |  | 1,927 |
Total assets |  | $ | 137,852 |  |  | $ | 127,799 |
Current liabilities |  | $ | 71,555 |  |  | $ | 39,303 |
Partners’ capital |  | 66,297 |  |  | 88,496 |
Total liabilities and partners’ capital |  | $ | 137,852 |  |  | $ | 127,799 |
In April 2016, LSV provided an interest in the partnership to select key employees which reduced the ownership percentage of each existing partner on a pro-rata basis. As a result, the Company's total partnership interest in LSV was reduced from approximately 39.2 percent to approximately 38.9 percent. Guaranty Agreement with LSV Employee Group III In October 2012, LSV Employee Group III purchased a portion of the partnership interest of three existing LSV employees for $77,700, of which $69,930 was financed through two syndicated term loan facilities contained in a credit agreement with The PrivateBank and Trust Company. The Company provided an unsecured guaranty for $45,000 of the obligations of LSV Employee Group III to the lenders through a guaranty agreement. The lenders had the right to seek payment from the Company in the event of a default by LSV Employee Group III. LSV provided an unsecured guaranty for $24,930 of the obligations of LSV Employee Group III to the lenders through a separate guaranty agreement. The Company’s direct interest in LSV was unchanged as a result of this transaction. The Company determined that LSV Employee Group III was a variable interest entity (VIE); however, the Company was not considered the primary beneficiary because it did not have the power to direct the activities that most significantly impact the economic performance of LSV Employee Group III either directly or through any financial responsibility from the guaranty. In September 2014 and June 2017, LSV Employee Group III made the final principal payments related to the term loans guaranteed by LSV and the Company, respectively, and has no further obligation regarding the agreement. The Company has no other interests in LSV Employee Group III and, therefore, no longer considers LSV Employee Group III to be a VIE.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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