XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.23.3

Composition of Certain Financial Statement Captions | 9 Months Ended
--- | ---
Sep. 30, 2023
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, 2023 |  | December 31, 2022
Trade receivables | $ | 134,646 |  |  | $ | 110,722 |
Fees earned, not billed | 356,876 |  |  | 320,700 |
Other receivables | 28,516 |  |  | 26,563 |
| 520,038 |  |  | 457,985 |
Less: Allowance for doubtful accounts | (1,184) |  |  | (901) |
| $ | 518,854 |  |  | $ | 457,084 |
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, 2023 |  | December 31, 2022
Buildings | $ | 216,572 |  |  | $ | 210,626 |
Equipment | 192,187 |  |  | 179,318 |
Land | 26,450 |  |  | 26,439 |
Purchased software | 164,844 |  |  | 160,714 |
Furniture and fixtures | 22,580 |  |  | 21,956 |
Leasehold improvements | 19,602 |  |  | 20,879 |
Construction in progress | 583 |  |  | 1,958 |
| 642,818 |  |  | 621,890 |
Less: Accumulated depreciation | (465,297) |  |  | (440,861) |
Property and Equipment, net | $ | 177,521 |  |  | $ | 181,029 |
The Company recognized $26,509 and $24,942 in depreciation expense related to property and equipment for the nine months ended September 30, 2023 and 2022, respectively. Deferred Contract Costs Deferred contract costs, which primarily consist of deferred sales commissions, were $38,518 and $37,928 as of September 30, 2023 and December 31, 2022, respectively. The Company deferred expenses related to contract costs of $2,243 and $4,648 during the three months ended September 30, 2023 and 2022, respectively. During the nine months ended September 30, 2023 and 2022, the Company deferred expenses related to contract costs of $7,212 and $9,710, respectively. Amortization expense related to deferred contract costs were $6,622 and $8,156 during the nine months ended September 30, 2023 and 2022, respectively. Amortization expense during the nine months ended September 30, 2022 includes $1,784 in expense accelerated as a result of the termination of a contractual agreement with a significant client (See Note 13). Amortization expense related to deferred contract costs is included in Compensation, benefits and other personnel on the accompanying Consolidated Statements of Operations. There were no material impairment losses in relation to deferred contract costs during the nine months ended September 30, 2023. Accrued Liabilities Accrued liabilities on the accompanying Consolidated Balance Sheets consist of:
| September 30, 2023 |  | December 31, 2022
Accrued employee compensation | $ | 89,229 |  |  | $ | 100,566 |
Accrued employee benefits and other personnel | 8,377 |  |  | 9,852 |
Accrued voluntary separation program | 27,777 |  |  | 53,821 |
Accrued consulting, outsourcing and professional fees | 32,928 |  |  | 37,009 |
Accrued sub-advisory, distribution and other asset management fees | 50,346 |  |  | 52,916 |
Accrued dividend payable | 389 |  |  | 58,051 |
Other accrued liabilities | 40,826 |  |  | 47,148 |
Total accrued liabilities | $ | 249,872 |  |  | $ | 359,363 |

X
- References No definition available. + Details
Name: | srt_ItemsIncludedInConsolidatedStatementOfFinancialConditionAbstract
Namespace Prefix: | srt_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//210/tableOfContent + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration