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Investment in Unconsolidated Affiliates
 12 Months Ended
Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]  
Investment in Unconsolidated Affiliates Investment in Unconsolidated Affiliates
LSV Asset Management
The Company has an investment in the general partnership 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. As of December 31, 2023, the Company's total partnership interest in LSV was approximately 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 affiliates on the accompanying Consolidated Statements of Operations.
At December 31, 2023, the Company’s total investment in LSV was $110,781. The Company’s proportionate share in the earnings of LSV was $126,930, $120,667 and $137,572 in 2023, 2022 and 2021, respectively. The Company receives partnership distributions related to the earnings of LSV on a quarterly basis. 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 received partnership distribution payments from LSV of $121,582, $120,849 and $131,170 in 2023, 2022 and 2021, respectively.
These tables contain condensed financial information of LSV:
Condensed Statement of Operations
Year ended December 31,
202320222021
Revenues$426,270 $406,895 $456,259 
Net income$328,905 $312,180 $354,964 
Condensed Balance Sheets
December 31,
20232022
Current assets$169,867 $158,326 
Non-current assets6,568 6,019 
Total assets$176,435 $164,345 
 
Current liabilities$74,853 $77,306 
Non-current liabilities2,182 3,050 
Partners’ capital99,400 83,989 
Total liabilities and partners’ capital$176,435 $164,345