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Investment In Unconsolidated Affiliate

9 Months Ended

Sep. 30, 2019

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's partnership interest in LSV as of September 30, 2019 was 38.9%. The Company accounts for its interest in LSV using the equity

method because of its less than 50% 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 September 30, 2019, the Company’s total investment in LSV was $41,437. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $123,663 and $138,216 in the nine months ended September 30, 2019 and 2018, 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 $37,609 and $41,726 during the three months ended September 30, 2019 and 2018, respectively. During the nine months ended September 30, 2019 and 2018, the Company’s proportionate share in the earnings of LSV was $112,758 and $123,406, respectively.

These tables contain condensed financial information of LSV:

Condensed Statement of Operations		Three Months Ended September 30,								Nine Months Ended September 30,
		2019				2018				2019				2018
Revenues		$	121,232			$	133,921			$	365,164			$	397,750
Net income		96,699				107,284				289,918				317,295

Condensed Balance Sheets		September 30, 2019				December 31, 2018
Current assets		$	138,320			$	138,083
Non-current assets		4,721				1,165
Total assets		$	143,041			$	139,248
Current liabilities		$	75,192			$	47,874
Non-current liabilities		4,738				—
Partners’ capital		63,111				91,374
Total liabilities and partners’ capital		$	143,041			$	139,248

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- References

No definition available.

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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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SX 210.3A-04)
-URI http://asc.fasb.org/extlink&oid=116822174&loc=d3e355119-122828

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

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