Composition of Certain Financial Statement Captions

3 Months Ended

Mar. 31, 2018

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:



	March 31, 2018			December 31, 2017
Trade receivables	$	72,764		$	76,760
Fees earned, not billed	220,414			194,331
Other receivables	15,880			12,310
	309,058			283,401
Less: Allowance for doubtful accounts	(788		)	(695		)
	$	308,270		$	282,706

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:



	March 31, 2018			December 31, 2017
Buildings	$	154,007		$	153,961
Equipment	118,823			115,546
Land	10,557			10,030
Purchased software	136,226			134,610
Furniture and fixtures	18,320			18,114
Leasehold improvements	18,851			18,017
Construction in progress	5,741			6,105
	462,525			456,383
Less: Accumulated depreciation	(317,245		)	(309,955		)
Property and Equipment, net	$	145,280		$	146,428

The Company recognized $7,122 and $6,800 in depreciation expense related to property and equipment for the three months ended March 31, 2018 and 2017, respectively.

Accrued Liabilities

Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:



	March 31, 2018		December 31, 2017
Accrued employee compensation	$	28,714	$	88,960
Accrued consulting, outsourcing and professional fees	35,682		29,658
Accrued sub-advisory, distribution and other asset management fees	39,680		42,365
Accrued dividend payable	—		47,179
Accrued income taxes	19,282		5,583
Other accrued liabilities	45,260		51,313
Total accrued liabilities	$	168,618	$	265,058