XML 26 R13.htm IDEA: XBRL DOCUMENT v3.8.0.1
Marketable Securities
 9 Months Ended
Sep. 30, 2017
Marketable Securities [Abstract]  
Marketable Securities Marketable Securities
Investments Available for Sale
Investments available for sale classified as non-current assets consist of: 
 
At September 30, 2017
 
Cost
Amount
 
Gross
Unrealized
Gains
 
Gross
Unrealized
(Losses)
 
Fair
Value
SEI-sponsored mutual funds
$
7,317

 
$
106

 
$
(290
)
 
$
7,133

Equities and other mutual funds
3,373

 
357

 
—

 
3,730

Debt securities
71,837

 
—

 
(448
)
 
71,389

 
$
82,527

 
$
463

 
$
(738
)
 
$
82,252

 
At December 31, 2016
 
Cost
Amount
 
Gross
Unrealized
Gains
 
Gross
Unrealized
(Losses)
 
Fair
Value
SEI-sponsored mutual funds
$
7,357

 
$
24

 
$
(996
)
 
$
6,385

Equities and other mutual funds
2,968

 
228

 
—

 
3,196

Debt securities
74,843

 
—

 
(391
)
 
74,452

 
$
85,168

 
$
252

 
$
(1,387
)
 
$
84,033


Net unrealized losses at September 30, 2017 and December 31, 2016 were $207 (net of income tax benefit of $68) and $836 (net of income tax benefit of $299), respectively. These net unrealized losses are reported as a separate component of Accumulated other comprehensive loss on the accompanying Consolidated Balance Sheets.
There were gross realized gains of $428 and gross realized losses of $706 from available-for-sale securities during the nine months ended September 30, 2017. There were gross realized gains of $270 and gross realized losses of $679 from available-for-sale securities during the nine months ended September 30, 2016. Gains and losses from available-for-sale securities, including amounts reclassified from accumulated comprehensive loss, are reflected in Net gain from investments on the accompanying Consolidated Statements of Operations.
Investments in Affiliated Funds
The Company has an investment in funds sponsored by LSV. The Company records this investment on the accompanying Consolidated Balance Sheets at fair value. Unrealized gains and losses from the change in fair value of these funds are recognized in Net gain from investments on the accompanying Consolidated Statements of Operations.
The investment primarily consists of U.S. dollar denominated funds that invest primarily in securities of Canadian, Australian and Japanese companies as well as various other global securities. The underlying securities held by the funds are translated into U.S. dollars within the funds. The funds had a fair value of $5,738 and $4,858 at September 30, 2017 and December 31, 2016, respectively. The Company recognized gains of $388 and $880 during the three and nine months ended September 30, 2017, respectively, from the change in fair value of the funds. The Company recognized gains of $468 and $849 during the three and nine months ended September 30, 2016, respectively, from the change in fair value of the funds.
Securities Owned
The Company’s broker-dealer subsidiary, SIDCO, has investments in U.S. government agency securities with maturity dates less than one year. These investments are reflected as Securities owned on the accompanying Consolidated Balance Sheets. Due to specialized accounting practices applicable to investments by broker-dealers, the securities are reported at fair value and changes in fair value are recorded in current period earnings. The securities had a fair value of $21,469 and $21,339 at September 30, 2017 and December 31, 2016, respectively. There were no material net gains or losses from the change in fair value of the securities during the three and nine months ended September 30, 2017 and 2016.