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Composition of Certain Financial Statement Captions | 9 Months Ended
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Sep. 30, 2021
Items Included in Consolidated Statement of Financial Condition [Abstract] |
Composition of Certain Financial Statement Captions | Composition of Certain Financial Statement Captions Receivables Receivables on the accompanying Consolidated Balance Sheets consist of:
| September 30, 2021 |  | December 31, 2020
Trade receivables | $ | 112,572 |  |  | $ | 99,106 |
Fees earned, not billed | 313,883 |  |  | 262,167 |
Other receivables | 18,401 |  |  | 25,046 |
| 444,856 |  |  | 386,319 |
Less: Allowance for doubtful accounts | (2,669) |  |  | (1,100) |
| $ | 442,187 |  |  | $ | 385,219 |
Fees earned, not billed represents receivables from contracts with customers 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 an extended valuation process. Billings to these clients occur once the asset valuation processes are completed. 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:
| September 30, 2021 |  | December 31, 2020
Buildings | $ | 209,315 |  |  | $ | 206,151 |
Equipment | 150,945 |  |  | 141,820 |
Land | 24,651 |  |  | 24,179 |
Purchased software | 156,327 |  |  | 147,838 |
Furniture and fixtures | 21,196 |  |  | 21,439 |
Leasehold improvements | 21,838 |  |  | 21,604 |
Construction in progress | 209 |  |  | 4,660 |
| 584,481 |  |  | 567,691 |
Less: Accumulated depreciation | (400,679) |  |  | (378,639) |
Property and Equipment, net | $ | 183,802 |  |  | $ | 189,052 |
The Company recognized $25,141 and $23,058 in depreciation expense related to property and equipment for the nine months ended September 30, 2021 and 2020, respectively. Deferred Contract Costs Deferred contract costs, which primarily consist of deferred sales commissions, were $34,263 and $33,781 as of September 30, 2021 and December 31, 2020, respectively. The Company deferred expenses related to contract costs of $2,932 and $2,521 during the three months ended September 30, 2021 and 2020, respectively. During the nine months ended September 30, 2021 and 2020, the Company deferred expenses related to contract costs of $6,978 and $7,270, respectively. Amortization expense related to deferred contract costs were $6,496 and $4,428 during the nine months ended September 30, 2021 and 2020, respectively, and are included in Compensation, benefits and other personnel on the accompanying Consolidated Statements of Operations. There was no impairment loss in relation to deferred contract costs during the nine months ended September 30, 2021. Accrued Liabilities Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:
| September 30, 2021 |  | December 31, 2020
Accrued employee compensation | $ | 86,924 |  |  | $ | 95,656 |
Accrued employee benefits and other personnel | 11,743 |  |  | 18,770 |
Accrued consulting, outsourcing and professional fees | 35,945 |  |  | 31,907 |
Accrued sub-advisory, distribution and other asset management fees | 57,560 |  |  | 49,924 |
Accrued dividend payable | — |  |  | 53,127 |
Other accrued liabilities | 38,871 |  |  | 50,461 |
Total accrued liabilities | $ | 231,043 |  |  | $ | 299,845 |

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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