Composition of Certain Financial Statement Captions

12 Months Ended

Dec. 31, 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:



	2017			2016
Trade receivables	$	76,760		$	48,683
Fees earned, not billed	194,331			168,971
Other receivables	12,310			10,826
	283,401			228,480
Less: Allowance for doubtful accounts	(695		)	(523		)
Receivables, net	$	282,706		$	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.

Property and Equipment

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



	2017			2016
Buildings	$	153,961		$	152,171
Equipment	115,546			106,759
Land	10,030			10,030
Purchased software	134,610			128,008
Furniture and fixtures	18,114			17,292
Leasehold improvements	18,017			15,175
Construction in progress	6,105			2,077
	456,383			431,512
Less: Accumulated depreciation	(309,955		)	(285,322		)
Property and Equipment, net	$	146,428		$	146,190

Depreciation expense related to property and equipment for 2017, 2016 and 2015 was $27,311, $26,440 and $24,044, respectively.

Other Assets

Other assets consist of long-term prepaid expenses, deposits, other investments at cost and various other assets. Amortization expense for certain other assets for 2017, 2016 and 2015 was $218, $345 and $229, respectively.

Accrued Liabilities

Accrued Liabilities on the accompanying Consolidated Balance Sheets consist of:



	2017		2016
Accrued employee compensation	$	88,960	$	79,735
Accrued consulting, outsourcing and professional fees	29,658		24,428
Accrued sub-advisory, distribution and other asset management fees	42,365		41,666
Accrued dividend payable	47,179		44,596
Other accrued liabilities	56,896		50,100
Accrued liabilities	$	265,058	$	240,525