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Investment In Unconsolidated Affiliate

3 Months Ended

Mar. 31, 2018

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 investment products. 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 March 31, 2018, the Company’s total investment in LSV was $54,482. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $45,617 and $35,265 in the three months ended March 31, 2018 and 2017, 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 $40,607 and $33,565 during the three months ended March 31, 2018 and 2017, respectively.

These tables contain condensed financial information of LSV: 

Condensed Statement of Operations		Three Months Ended March 31,
		2018				2017
Revenues		$	131,718			$	109,953
Net income		104,406				86,215

Condensed Balance Sheets		March 31, 2018				December 31, 2017
Current assets		$	143,922			$	155,239
Non-current assets		1,444				1,407
Total assets		$	145,366			$	156,646
Current liabilities		$	47,641			$	46,486
Partners’ capital		97,725				110,160
Total liabilities and partners’ capital		$	145,366			$	156,646

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- References

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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

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