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Investment In Unconsolidated Affiliate | 9 Months Ended
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Sep. 30, 2023
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, 2023 was 38.6%. 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, 2023, the Company’s total investment in LSV was $44,645. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $100,252 and $103,504 in the nine months ended September 30, 2023 and 2022, 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 $29,927 and $26,654 during the three months ended September 30, 2023 and 2022, respectively. During the nine months ended September 30, 2023 and 2022, the Company's proportionate share in the earnings of LSV was $91,517 and $88,926, respectively. These tables contain condensed financial information of LSV:
Condensed Statement of Operations |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2023 |  | 2022 |  | 2023 |  | 2022
Revenues |  | $ | 102,183 |  |  | $ | 91,588 |  |  | $ | 309,211 |  |  | $ | 299,852 |
Net income |  | 77,566 |  |  | 69,013 |  |  | 237,119 |  |  | 229,997 |
Condensed Balance Sheets |  | September 30, 2023 |  | December 31, 2022
Current assets |  | $ | 121,830 |  |  | $ | 158,326 |
Non-current assets |  | 6,662 |  |  | 6,019 |
Total assets |  | $ | 128,492 |  |  | $ | 164,345 |
Current liabilities |  | $ | 64,273 |  |  | $ | 77,306 |
Non-current liabilities |  | 2,405 |  |  | 3,050 |
Partners’ capital |  | 61,814 |  |  | 83,989 |
Total liabilities and partners’ capital |  | $ | 128,492 |  |  | $ | 164,345 |

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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 -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 323 -SubTopic 740 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481543/323-740-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org//323/tableOfContent + Details
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