Composition of Certain Financial Statement Captions

9 Months Ended

Sep. 30, 2017

Items Included in Consolidated Statement of Financial Condition [Abstract]

Composition of Certain Financial Statement Captions

Receivables

Receivables on the accompanying Consolidated Balance Sheets consist of:



	September 30, 2017			December 31, 2016
Trade receivables	$	68,968		$	48,683
Fees earned, not billed	192,214			168,971
Other receivables	13,052			10,826
	274,234			228,480
Less: Allowance for doubtful accounts	(699		)	(523		)
	$	273,535		$	227,957

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 calculated based on assets under administration that have a prolonged valuation process which delays billings to clients.

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

Property and Equipment

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



	September 30, 2017			December 31, 2016
Buildings	$	153,952		$	152,171
Equipment	114,122			106,759
Land	10,030			10,030
Purchased software	133,320			128,008
Furniture and fixtures	17,950			17,292
Leasehold improvements	17,121			15,175
Construction in progress	4,512			2,077
	451,007			431,512
Less: Accumulated depreciation	(302,901		)	(285,322		)
Property and Equipment, net	$	148,106		$	146,190

The Company recognized $20,347 and $19,457 in depreciation expense related to property and equipment for the nine months ended September 30, 2017 and 2016, respectively.

Accrued Liabilities

Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:



	September 30, 2017		December 31, 2016
Accrued employee compensation	$	63,313	$	79,735
Accrued consulting, outsourcing and professional fees	29,487		24,428
Accrued sub-advisory, distribution and other asset management fees	38,631		41,666
Accrued dividend payable	—		44,596
Other accrued liabilities	53,937		50,100
Total accrued liabilities	$	185,368	$	240,525